PCM vs. VWTAX
PCM (PCM Fund Inc.) and VWTAX (Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund) are both Mortgage Backed Securities funds. Over the past 3 years, PCM returned -5.77%/yr vs 3.78%/yr for VWTAX. At a 0.13 correlation, their price movements are largely independent.
Performance
PCM vs. VWTAX - Performance Comparison
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Returns By Period
In the year-to-date period, PCM achieves a 1.23% return, which is significantly higher than VWTAX's 0.56% return.
PCM
- 1D
- 0.34%
- 1M
- 4.49%
- 6M
- 1.89%
- YTD
- 1.23%
- 1Y
- 2.91%
- 3Y*
- -5.77%
- 5Y*
- -3.10%
- 10Y*
- 5.31%
VWTAX
- 1D
- 0.09%
- 1M
- -0.00%
- 6M
- 0.37%
- YTD
- 0.56%
- 1Y
- 4.03%
- 3Y*
- 3.78%
- 5Y*
- —
- 10Y*
- —
PCM vs. VWTAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PCM PCM Fund Inc. | 1.23% | -10.10% | 8.81% | 12.44% | -19.54% |
VWTAX Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund | 0.56% | 6.42% | 0.70% | 3.93% | -9.46% |
Correlation
The correlation between PCM and VWTAX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2022 | 0.13 |
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Return for Risk
PCM vs. VWTAX — Risk / Return Rank
PCM
VWTAX
PCM vs. VWTAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PCM Fund Inc. (PCM) and Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund (VWTAX). 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 | VWTAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.19 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.13 | 1.55 | -1.42 |
| Martin ratioReturn relative to average drawdown | 0.26 | 4.85 | -4.59 |
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Drawdowns
PCM vs. VWTAX - Drawdown Comparison
The maximum PCM drawdown since its inception was -64.88%, which is greater than VWTAX's maximum drawdown of -14.14%. Use the drawdown chart below to compare losses from any high point for PCM and VWTAX.
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Drawdown Indicators
| PCM | VWTAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.88% | -14.14% | -50.74% |
Max Drawdown (1Y)Largest decline over 1 year | -12.81% | -2.55% | -10.26% |
Max Drawdown (3Y)Largest decline over 3 years | -29.62% | -7.09% | -22.53% |
Max Drawdown (5Y)Largest decline over 5 years | -29.62% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.69% | — | — |
Current DrawdownCurrent decline from peak | -18.47% | -1.19% | -17.28% |
Average DrawdownAverage peak-to-trough decline | -9.75% | -5.26% | -4.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.54% | 0.80% | +5.74% |
Volatility
PCM vs. VWTAX - Volatility Comparison
PCM Fund Inc. (PCM) has a higher volatility of 3.32% compared to Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund (VWTAX) at 1.37%. This indicates that PCM's price experiences larger fluctuations and is considered to be riskier than VWTAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCM | VWTAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.32% | 1.37% | +1.95% |
Volatility (6M)Calculated over the trailing 6-month period | 8.38% | 2.74% | +5.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.65% | 3.79% | +7.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.35% | 6.34% | +14.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.71% | 6.34% | +16.37% |
Dividends
PCM vs. VWTAX - Dividend Comparison
PCM's dividend yield for the trailing twelve months is around 13.25%, while VWTAX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCM PCM Fund Inc. | 12.14% | 12.56% | 12.47% | 12.06% | 12.20% | 8.96% | 8.95% | 8.38% | 9.46% | 8.47% | 14.60% | 10.39% |
VWTAX Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PCM and VWTAX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCM has higher volatility (3.32%) compared to VWTAX (1.37%). In terms of maximum drawdown, PCM dropped -64.88% vs VWTAX's -14.14%.
VWTAX currently has the higher Sharpe Ratio (1.05 vs 0.15), 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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