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 5.07%/yr vs 8.56%/yr for PTY. At a 0.30 correlation, their price movements are largely independent.
Performance
PCM vs. PTY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PCM achieves a -3.64% return, which is significantly lower than PTY's -3.45% return. Over the past 10 years, PCM has underperformed PTY with an annualized return of 5.07%, while PTY has yielded a comparatively higher 8.56% 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%
PTY
- 1D
- 0.60%
- 1M
- 0.76%
- YTD
- -3.45%
- 6M
- -2.62%
- 1Y
- -3.79%
- 3Y*
- 5.46%
- 5Y*
- -0.17%
- 10Y*
- 8.56%
PCM vs. PTY - 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% |
PTY PIMCO Corporate & Income Opportunity Fund | -3.45% | -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 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Dec 26, 2002 | 0.30 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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 | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.94 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | -0.25 | +0.24 |
| Martin ratioReturn relative to average drawdown | -0.02 | -0.47 | +0.45 |
Loading charts...
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.
Loading charts...
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% | -16.04% | -13.58% |
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 | -22.39% | -12.37% | -10.02% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -8.62% | -1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.31% | 8.11% | -1.80% |
Volatility
PCM vs. PTY - Volatility Comparison
PCM Fund Inc. (PCM) has a higher volatility of 2.18% compared to PIMCO Corporate & Income Opportunity Fund (PTY) at 1.99%. 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.
Loading charts...
Volatility by Period
| PCM | PTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 1.99% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 7.95% | 7.66% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.36% | 10.92% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.33% | 17.27% | +3.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.71% | 21.19% | +1.52% |
Dividends
PCM vs. PTY - Dividend Comparison
PCM's dividend yield for the trailing twelve months is around 13.91%, more than PTY's 12.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCM PCM Fund Inc. | 13.91% | 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 0.37, 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 PTY (1.99%). In terms of maximum drawdown, PCM dropped -64.88% vs PTY's -60.86%.
PCM currently has the higher Sharpe Ratio (-0.01 vs -0.35), 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.
Find the right allocation for PCM and PTY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer