PCN vs. MOAT

Last updated Jun 13, 2026

PCN (PIMCO Corporate & Income Strategy Fund) and MOAT (VanEck Morningstar Wide Moat ETF) are both funds - PCN is a Multisector Bonds fund managed by PIMCO, while MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index. Over the past 10 years, PCN returned 7.31%/yr vs 13.47%/yr for MOAT. At a 0.30 correlation, their price movements are largely independent. PCN charges 0.85%/yr vs 0.47%/yr for MOAT.

Performance

PCN vs. MOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Corporate & Income Strategy Fund (PCN) and VanEck Morningstar Wide Moat ETF (MOAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCN achieves a -3.20% return, which is significantly lower than MOAT's -0.66% return. Over the past 10 years, PCN has underperformed MOAT with an annualized return of 7.31%, while MOAT has yielded a comparatively higher 13.47% annualized return.

PCN

• 1D: 0.52%
• 1M: 0.45%
• YTD: -3.20%
• 6M: -0.94%
• 1Y: 4.06%
• 3Y*: 8.59%
• 5Y*: 0.74%
• 10Y*: 7.31%

MOAT

• 1D: 0.41%
• 1M: 3.19%
• YTD: -0.66%
• 6M: -1.22%
• 1Y: 14.57%
• 3Y*: 10.55%
• 5Y*: 7.78%
• 10Y*: 13.47%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PCN vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCN PIMCO Corporate & Income Strategy Fund	-3.20%	5.55%	19.52%	16.22%	-22.88%	6.93%	-2.19%	39.10%	-5.94%	26.20%
MOAT VanEck Morningstar Wide Moat ETF	-0.66%	13.20%	10.73%	31.89%	-13.66%	24.12%	14.84%	34.79%	-1.28%	23.18%

Correlation

The correlation between PCN and MOAT 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	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Apr 25, 2012	0.30

Return for Risk

PCN vs. MOAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PCN

PCN Risk / Return Rank: 7
PCN Sharpe Ratio Rank: 7
PCN Sortino Ratio Rank: 7
PCN Omega Ratio Rank: 7
PCN Calmar Ratio Rank: 6
PCN Martin Ratio Rank: 6

MOAT

MOAT Risk / Return Rank: 26
MOAT Sharpe Ratio Rank: 28
MOAT Sortino Ratio Rank: 28
MOAT Omega Ratio Rank: 26
MOAT Calmar Ratio Rank: 24
MOAT Martin Ratio Rank: 26

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PCN vs. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Corporate & Income Strategy Fund (PCN) and VanEck Morningstar Wide Moat ETF (MOAT). 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.

	PCN	MOAT	Difference
Sharpe ratio: Return per unit of total volatility	0.31	0.91	-0.60
Sortino ratio: Return per unit of downside risk	0.51	1.39	-0.88
Omega ratio: Gain probability vs. loss probability	1.07	1.16	-0.08
Calmar ratio: Return relative to maximum drawdown	0.29	1.02	-0.73
Martin ratio: Return relative to average drawdown	0.81	3.11	-2.30

PCN vs. MOAT - Sharpe Ratio Comparison

The current PCN Sharpe Ratio is 0.31, which is lower than the MOAT Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of PCN and MOAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PCN vs. MOAT - Drawdown Comparison

The maximum PCN drawdown since its inception was -61.12%, which is greater than MOAT's maximum drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for PCN and MOAT.

Drawdown Indicators

	PCN	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-61.12%	-33.31%	-27.81%
Max Drawdown (1Y) Largest decline over 1 year	-10.40%	-12.43%	+2.03%
Max Drawdown (3Y) Largest decline over 3 years	-22.53%	-21.44%	-1.09%
Max Drawdown (5Y) Largest decline over 5 years	-33.39%	-23.96%	-9.43%
Max Drawdown (10Y) Largest decline over 10 years	-50.27%	-33.31%	-16.96%
Current Drawdown Current decline from peak	-5.72%	-4.45%	-1.27%
Average Drawdown Average peak-to-trough decline	-7.20%	-3.83%	-3.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.70%	4.06%	-0.36%

Volatility

PCN vs. MOAT - Volatility Comparison

The current volatility for PIMCO Corporate & Income Strategy Fund (PCN) is 2.95%, while VanEck Morningstar Wide Moat ETF (MOAT) has a volatility of 4.13%. This indicates that PCN experiences smaller price fluctuations and is considered to be less risky than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCN	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.95%	4.13%	-1.18%
Volatility (6M) Calculated over the trailing 6-month period	7.19%	9.90%	-2.71%
Volatility (1Y) Calculated over the trailing 1-year period	9.77%	13.93%	-4.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.19%	18.20%	-2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.94%	18.68%	+3.26%

PCN vs. MOAT - Expense Ratio Comparison

PCN has a 0.85% expense ratio, which is higher than MOAT's 0.47% expense ratio.

Dividends

PCN vs. MOAT - Dividend Comparison

PCN's dividend yield for the trailing twelve months is around 11.55%, more than MOAT's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MOAT VanEck Morningstar Wide Moat ETF	1.36%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%
PCN PIMCO Corporate & Income Strategy Fund	11.55%	10.58%	10.06%	10.88%	12.66%	7.89%	7.83%	7.37%	9.60%	7.85%	11.98%	10.22%

Frequently Asked Questions

Can I hold both PCN and MOAT in my portfolio?

PCN and MOAT 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.

Which is riskier, PCN or MOAT?

MOAT has higher volatility (4.13%) compared to PCN (2.95%). In terms of maximum drawdown, PCN dropped -61.12% vs MOAT's -33.31%.

Which has better risk-adjusted returns?

MOAT currently has the higher Sharpe Ratio (0.91 vs 0.31), 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.