PCN vs. PTTPX

Last updated Jun 4, 2026

PCN (PIMCO Corporate & Income Strategy Fund) and PTTPX (PIMCO Total Return Fund Class I-2) are both mutual funds - PCN is a Multisector Bonds fund managed by PIMCO, while PTTPX is a Total Bond Market fund actively managed by PIMCO. Over the past 10 years, PCN returned 7.14%/yr vs 2.13%/yr for PTTPX. At a 0.11 correlation, their price movements are largely independent. PCN charges 0.85%/yr vs 0.63%/yr for PTTPX.

Performance

PCN vs. PTTPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Corporate & Income Strategy Fund (PCN) and PIMCO Total Return Fund Class I-2 (PTTPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCN achieves a -4.37% return, which is significantly lower than PTTPX's 0.60% return. Over the past 10 years, PCN has outperformed PTTPX with an annualized return of 7.14%, while PTTPX has yielded a comparatively lower 2.13% annualized return.

PCN

• 1D: -0.93%
• 1M: -2.08%
• YTD: -4.37%
• 6M: -2.52%
• 1Y: 1.37%
• 3Y*: 7.28%
• 5Y*: 0.63%
• 10Y*: 7.14%

PTTPX

• 1D: 0.11%
• 1M: 0.87%
• YTD: 0.60%
• 6M: 0.76%
• 1Y: 7.35%
• 3Y*: 5.22%
• 5Y*: 0.52%
• 10Y*: 2.13%

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

PCN vs. PTTPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCN PIMCO Corporate & Income Strategy Fund	-4.37%	5.55%	19.52%	16.22%	-22.88%	6.93%	-2.19%	39.10%	-5.94%	26.20%
PTTPX PIMCO Total Return Fund Class I-2	0.60%	9.24%	2.51%	5.47%	-14.80%	-0.70%	8.78%	8.26%	-0.35%	5.03%

Correlation

The correlation between PCN and PTTPX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since May 27, 2008	0.11

Over the past year, PCN and PTTPX have become more correlated (0.34) than their long-term average of 0.11, meaning their price movements have been converging.

Return for Risk

PCN vs. PTTPX — Risk / Return Rank

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

PCN

PCN Risk / Return Rank: 3
PCN Sharpe Ratio Rank: 3
PCN Sortino Ratio Rank: 3
PCN Omega Ratio Rank: 3
PCN Calmar Ratio Rank: 3
PCN Martin Ratio Rank: 3

PTTPX

PTTPX Risk / Return Rank: 29
PTTPX Sharpe Ratio Rank: 30
PTTPX Sortino Ratio Rank: 30
PTTPX Omega Ratio Rank: 31
PTTPX Calmar Ratio Rank: 28
PTTPX Martin Ratio Rank: 25

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. PTTPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Corporate & Income Strategy Fund (PCN) and PIMCO Total Return Fund Class I-2 (PTTPX). 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.

	PCN	PTTPX	Difference
Sharpe ratio: Return per unit of total volatility	0.14	1.57	-1.43
Sortino ratio: Return per unit of downside risk	0.27	2.30	-2.03
Omega ratio: Gain probability vs. loss probability	1.04	1.29	-0.25
Calmar ratio: Return relative to maximum drawdown	0.13	1.97	-1.83
Martin ratio: Return relative to average drawdown	0.39	6.09	-5.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PCN vs. PTTPX - Sharpe Ratio Comparison

The current PCN Sharpe Ratio is 0.14, which is lower than the PTTPX Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of PCN and PTTPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PCN	PTTPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.14	1.57	-1.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.08	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.41	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.72	-0.33

Drawdowns

PCN vs. PTTPX - Drawdown Comparison

The maximum PCN drawdown since its inception was -61.12%, which is greater than PTTPX's maximum drawdown of -19.36%. Use the drawdown chart below to compare losses from any high point for PCN and PTTPX.

Drawdown Indicators

	PCN	PTTPX	Difference
Max Drawdown Largest peak-to-trough decline	-61.12%	-19.36%	-41.76%
Max Drawdown (1Y) Largest decline over 1 year	-10.40%	-3.70%	-6.70%
Max Drawdown (3Y) Largest decline over 3 years	-22.53%	-6.22%	-16.31%
Max Drawdown (5Y) Largest decline over 5 years	-33.39%	-19.36%	-14.03%
Max Drawdown (10Y) Largest decline over 10 years	-50.27%	-19.36%	-30.91%
Current Drawdown Current decline from peak	-6.87%	-1.51%	-5.36%
Average Drawdown Average peak-to-trough decline	-7.20%	-3.17%	-4.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	1.19%	+2.37%

Volatility

PCN vs. PTTPX - Volatility Comparison

PIMCO Corporate & Income Strategy Fund (PCN) has a higher volatility of 2.35% compared to PIMCO Total Return Fund Class I-2 (PTTPX) at 1.81%. This indicates that PCN's price experiences larger fluctuations and is considered to be riskier than PTTPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCN	PTTPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.35%	1.81%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	6.97%	3.53%	+3.44%
Volatility (1Y) Calculated over the trailing 1-year period	9.61%	4.65%	+4.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.18%	6.26%	+9.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.94%	5.22%	+16.72%

PCN vs. PTTPX - Expense Ratio Comparison

PCN has a 0.85% expense ratio, which is higher than PTTPX's 0.63% expense ratio.

Dividends

PCN vs. PTTPX - Dividend Comparison

PCN's dividend yield for the trailing twelve months is around 11.58%, more than PTTPX's 4.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCN PIMCO Corporate & Income Strategy Fund	11.58%	10.58%	10.06%	10.88%	12.66%	7.89%	7.83%	7.37%	9.60%	7.85%	11.98%	10.22%
PTTPX PIMCO Total Return Fund Class I-2	4.44%	4.37%	4.51%	3.04%	3.53%	2.48%	6.01%	3.87%	3.02%	2.53%	2.92%	6.54%

Frequently Asked Questions

Can I hold both PCN and PTTPX in my portfolio?

PCN and PTTPX have a correlation of 0.34, 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 PTTPX?

PCN has higher volatility (2.35%) compared to PTTPX (1.81%). In terms of maximum drawdown, PCN dropped -61.12% vs PTTPX's -19.36%.

Which has better risk-adjusted returns?

PTTPX currently has the higher Sharpe Ratio (1.57 vs 0.14), 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.