PCM vs. PTY
PCM (PCM Fund Inc.) and PTY (PIMCO Corporate & Income Opportunity Fund) are both mutual funds - PCM is a Mortgage Backed Securities fund actively managed by PIMCO, while PTY is a Corporate Bonds fund managed by PIMCO. Over the past 10 years, PCM returned 4.57%/yr vs 8.00%/yr for PTY. Their 0.30 correlation means their historical movements had little consistent relationship.
Performance
PCM vs. PTY - Performance Comparison
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Returns By Period
In the year-to-date period, PCM achieves a -0.63% return, which is significantly higher than PTY's -2.49% return. Over the past 10 years, PCM has underperformed PTY with an annualized return of 4.57%, while PTY has yielded a comparatively higher 8.00% annualized return.
PCM
- 1D
- 0.71%
- 1M
- -0.81%
- 6M
- -0.04%
- YTD
- -0.63%
- 1Y
- 0.70%
- 3Y*
- -6.57%
- 5Y*
- -3.55%
- 10Y*
- 4.57%
- ALL TIME*
- 5.36%
PTY
- 1D
- 0.43%
- 1M
- -1.68%
- 6M
- -4.12%
- YTD
- -2.49%
- 1Y
- -6.08%
- 3Y*
- 3.46%
- 5Y*
- -1.33%
- 10Y*
- 8.00%
- ALL TIME*
- 10.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $201.21K | $206.97K | $249.95K | |
| $12.11M | $12.45M | $12.40M |
PCM vs. PTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCM PCM Fund Inc. | -0.63% | -10.10% | 8.81% | 12.44% | -18.96% | 8.57% | 3.05% | 23.05% | -4.47% | 26.46% |
PTY PIMCO Corporate & Income Opportunity Fund | -2.49% | -0.51% | 19.87% | 22.56% | -18.71% | 0.40% | 3.24% | 35.36% | 2.49% | 26.63% |
Correlation
The correlation between PCM and PTY is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.29 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.33 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.34 |
Correlation (All Time) Calculated using the full available price history since Dec 26, 2002 | 0.30 |
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Return for Risk
PCM vs. PTY — Risk / Return Rank
PCM
PTY
PCM vs. PTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PCM Fund Inc. (PCM) and PIMCO Corporate & Income Opportunity Fund (PTY). 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 | PTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.91 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.06 | -0.40 | +0.45 |
| Martin ratioReturn relative to average drawdown | 0.10 | -0.68 | +0.79 |
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Drawdowns
PCM vs. PTY - Drawdown Comparison
The maximum PCM drawdown since its inception was -64.88%, which is greater than PTY's maximum drawdown of -60.86%. Use the drawdown chart below to compare losses from any high point for PCM and PTY.
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Drawdown Indicators
| PCM | PTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.88% | -60.86% | -4.02% |
Max Drawdown (1Y)Largest decline over 1 year | -12.81% | -15.44% | +2.63% |
Max Drawdown (3Y)Largest decline over 3 years | -29.62% | -15.53% | -14.09% |
Max Drawdown (5Y)Largest decline over 5 years | -29.62% | -41.38% | +11.76% |
Max Drawdown (10Y)Largest decline over 10 years | -47.69% | -46.55% | -1.14% |
Current DrawdownCurrent decline from peak | -19.97% | -11.51% | -8.46% |
Average DrawdownAverage peak-to-trough decline | -9.77% | -8.63% | -1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.76% | 8.92% | -2.16% |
Volatility
PCM vs. PTY - Volatility Comparison
PCM Fund Inc. (PCM) has a higher volatility of 2.93% compared to PIMCO Corporate & Income Opportunity Fund (PTY) at 2.60%. This indicates that PCM's price experiences larger fluctuations and is considered to be riskier than PTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCM | PTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.93% | 2.60% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 8.59% | 7.88% | +0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.78% | 11.28% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.28% | 17.22% | +3.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.69% | 21.18% | +1.51% |
Dividends
PCM vs. PTY - Dividend Comparison
PCM's dividend yield for the trailing twelve months is around 13.64%, more than PTY's 12.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCM PCM Fund Inc. | 13.64% | 12.56% | 12.47% | 12.06% | 12.20% | 8.96% | 8.95% | 8.38% | 9.46% | 8.47% | 14.60% | 10.39% |
PTY PIMCO Corporate & Income Opportunity Fund | 12.12% | 11.05% | 9.92% | 10.77% | 13.12% | 9.16% | 8.74% | 8.37% | 10.63% | 9.48% | 12.09% | 11.92% |
Frequently Asked Questions
PCM and PTY have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCM has higher volatility (2.93%) compared to PTY (2.60%). In terms of maximum drawdown, PCM dropped -64.88% vs PTY's -60.86%.
PCM currently has the higher Sharpe Ratio (0.06 vs -0.54), 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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