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 -5.99%/yr vs 3.34%/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 -4.34% return, which is significantly lower than VWTAX's 0.84% return.
PCM
- 1D
- -0.36%
- 1M
- -1.70%
- YTD
- -4.34%
- 6M
- -3.71%
- 1Y
- -0.38%
- 3Y*
- -5.99%
- 5Y*
- -4.33%
- 10Y*
- 5.00%
VWTAX
- 1D
- 0.56%
- 1M
- 0.84%
- YTD
- 0.84%
- 6M
- 0.74%
- 1Y
- 4.62%
- 3Y*
- 3.34%
- 5Y*
- —
- 10Y*
- —
PCM vs. VWTAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PCM PCM Fund Inc. | -4.34% | -10.10% | 8.81% | 12.44% | -19.54% |
VWTAX Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund | 0.84% | 6.42% | 0.70% | 3.93% | -9.46% |
Correlation
The correlation between PCM and VWTAX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
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 | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.24 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 1.97 | -2.00 |
| Martin ratioReturn relative to average drawdown | -0.06 | 6.23 | -6.29 |
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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% | -7.19% | -22.43% |
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 | -22.95% | -0.91% | -22.04% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -5.31% | -4.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.28% | 0.78% | +5.50% |
Volatility
PCM vs. VWTAX - Volatility Comparison
PCM Fund Inc. (PCM) has a higher volatility of 2.08% compared to Tomorrow's Scholar College Savings Plan - ING GNMA Income Fund (VWTAX) at 1.34%. 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 | 2.08% | 1.34% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 7.92% | 2.78% | +5.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.36% | 3.79% | +7.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.33% | 6.36% | +13.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.71% | 6.36% | +16.35% |
Dividends
PCM vs. VWTAX - Dividend Comparison
PCM's dividend yield for the trailing twelve months is around 14.02%, 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. | 14.02% | 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 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCM has higher volatility (2.08%) compared to VWTAX (1.34%). In terms of maximum drawdown, PCM dropped -64.88% vs VWTAX's -14.14%.
VWTAX currently has the higher Sharpe Ratio (1.33 vs -0.03), 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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