PCM vs. PTTRX
PCM (PCM Fund Inc.) and PTTRX (PIMCO Total Return Fund Institutional Class) are both mutual funds - PCM is a Mortgage Backed Securities fund actively managed by PIMCO, while PTTRX is a Intermediate Core-Plus Bond fund actively managed by PIMCO. Both are actively managed. Over the past 10 years, PCM returned 5.07%/yr vs 2.27%/yr for PTTRX. At a 0.08 correlation, their price movements are largely independent.
Performance
PCM vs. PTTRX - Performance Comparison
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Returns By Period
In the year-to-date period, PCM achieves a -3.64% return, which is significantly lower than PTTRX's 0.30% return. Over the past 10 years, PCM has outperformed PTTRX with an annualized return of 5.07%, while PTTRX has yielded a comparatively lower 2.27% annualized return.
PCM
- 1D
- 0.73%
- 1M
- -0.99%
- YTD
- -3.64%
- 6M
- -2.29%
- 1Y
- -0.12%
- 3Y*
- -5.76%
- 5Y*
- -4.21%
- 10Y*
- 5.07%
PTTRX
- 1D
- -0.34%
- 1M
- 0.88%
- YTD
- 0.30%
- 6M
- 0.80%
- 1Y
- 6.09%
- 3Y*
- 5.37%
- 5Y*
- 0.57%
- 10Y*
- 2.27%
PCM vs. PTTRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCM PCM Fund Inc. | -3.64% | -10.10% | 8.81% | 12.44% | -18.96% | 8.57% | 3.05% | 23.05% | -4.47% | 26.46% |
PTTRX PIMCO Total Return Fund Institutional Class | 0.30% | 9.35% | 2.62% | 6.33% | -14.72% | -0.59% | 8.88% | 8.36% | -0.24% | 5.13% |
Correlation
The correlation between PCM and PTTRX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 1993 | 0.08 |
Over the past year, PCM and PTTRX have become more correlated (0.30) than their long-term average of 0.08, meaning their price movements have been converging.
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Return for Risk
PCM vs. PTTRX — Risk / Return Rank
PCM
PTTRX
PCM vs. PTTRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PCM Fund Inc. (PCM) and PIMCO Total Return Fund Institutional Class (PTTRX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PCM | PTTRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.25 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 1.73 | -1.74 |
| Martin ratioReturn relative to average drawdown | -0.02 | 5.09 | -5.10 |
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Drawdowns
PCM vs. PTTRX - Drawdown Comparison
The maximum PCM drawdown since its inception was -64.88%, which is greater than PTTRX's maximum drawdown of -19.28%. Use the drawdown chart below to compare losses from any high point for PCM and PTTRX.
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Drawdown Indicators
| PCM | PTTRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.88% | -19.28% | -45.60% |
Max Drawdown (1Y)Largest decline over 1 year | -12.81% | -3.69% | -9.12% |
Max Drawdown (3Y)Largest decline over 3 years | -29.62% | -6.18% | -23.44% |
Max Drawdown (5Y)Largest decline over 5 years | -29.62% | -19.28% | -10.34% |
Max Drawdown (10Y)Largest decline over 10 years | -47.69% | -19.28% | -28.41% |
Current DrawdownCurrent decline from peak | -22.39% | -1.82% | -20.57% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -2.19% | -7.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.31% | 1.25% | +5.06% |
Volatility
PCM vs. PTTRX - Volatility Comparison
PCM Fund Inc. (PCM) has a higher volatility of 2.18% compared to PIMCO Total Return Fund Institutional Class (PTTRX) at 1.39%. This indicates that PCM's price experiences larger fluctuations and is considered to be riskier than PTTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCM | PTTRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 1.39% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 7.95% | 3.63% | +4.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.36% | 4.63% | +6.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.33% | 6.28% | +14.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.71% | 5.24% | +17.47% |
Dividends
PCM vs. PTTRX - Dividend Comparison
PCM's dividend yield for the trailing twelve months is around 13.91%, more than PTTRX's 4.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCM PCM Fund Inc. | 13.91% | 12.56% | 12.47% | 12.06% | 12.20% | 8.96% | 8.95% | 8.38% | 9.46% | 8.47% | 14.60% | 10.39% |
PTTRX PIMCO Total Return Fund Institutional Class | 4.56% | 4.47% | 4.61% | 3.81% | 3.63% | 2.59% | 6.11% | 3.96% | 3.13% | 2.63% | 3.02% | 6.64% |
Frequently Asked Questions
PCM and PTTRX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCM has higher volatility (2.18%) compared to PTTRX (1.39%). In terms of maximum drawdown, PCM dropped -64.88% vs PTTRX's -19.28%.
PTTRX currently has the higher Sharpe Ratio (1.38 vs -0.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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