PCRIX vs. PCLIX

Last updated Aug 1, 2026

PCRIX (PIMCO Commodity Real Return Strategy Fund) and PCLIX (PIMCO CommoditiesPLUS Strategy Fund) are both Commodities funds from PIMCO. Over the past 10 years, PCRIX returned 8.65%/yr vs 12.80%/yr for PCLIX. Their correlation of 0.87 means they have usually moved in the same direction. PCRIX charges 0.80%/yr vs 0.98%/yr for PCLIX.

Performance

PCRIX vs. PCLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Commodity Real Return Strategy Fund (PCRIX) and PIMCO CommoditiesPLUS Strategy Fund (PCLIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCRIX achieves a 21.76% return, which is significantly lower than PCLIX's 34.31% return. Over the past 10 years, PCRIX has underperformed PCLIX with an annualized return of 8.65%, while PCLIX has yielded a comparatively higher 12.80% annualized return.

PCRIX

• 1D: 0.00%
• 1M: 6.98%
• 6M: 11.90%
• YTD: 21.76%
• 1Y: 33.17%
• 3Y*: 14.27%
• 5Y*: 10.88%
• 10Y*: 8.65%
• ALL TIME*: 1.97%

PCLIX

• 1D: -0.36%
• 1M: 9.86%
• 6M: 25.51%
• YTD: 34.31%
• 1Y: 39.01%
• 3Y*: 13.77%
• 5Y*: 15.42%
• 10Y*: 12.80%
• ALL TIME*: 5.77%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PCLIX PIMCO CommoditiesPLUS Strategy Fund	$0.00	$0.00	$0.00
PCRIX PIMCO Commodity Real Return Strategy Fund	$0.00	$0.00	$0.00

PCRIX vs. PCLIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCRIX PIMCO Commodity Real Return Strategy Fund	21.76%	17.05%	10.59%	-5.91%	8.94%	33.35%	0.79%	12.29%	-13.77%	2.71%
PCLIX PIMCO CommoditiesPLUS Strategy Fund	34.31%	5.76%	8.53%	0.69%	23.32%	43.83%	-9.18%	19.37%	-12.02%	10.86%

Correlation

The correlation between PCRIX and PCLIX is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Jun 1, 2010	0.87

The correlation between PCRIX and PCLIX has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

Return for Risk

PCRIX vs. PCLIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PCRIX

PCRIX Risk / Return Rank: 69
PCRIX Sharpe Ratio Rank: 78
PCRIX Sortino Ratio Rank: 71
PCRIX Omega Ratio Rank: 74
PCRIX Calmar Ratio Rank: 66
PCRIX Martin Ratio Rank: 54

PCLIX

PCLIX Risk / Return Rank: 72
PCLIX Sharpe Ratio Rank: 78
PCLIX Sortino Ratio Rank: 72
PCLIX Omega Ratio Rank: 72
PCLIX Calmar Ratio Rank: 73
PCLIX Martin Ratio Rank: 63

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PCRIX vs. PCLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Commodity Real Return Strategy Fund (PCRIX) and PIMCO CommoditiesPLUS Strategy Fund (PCLIX). 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.

	PCRIX	PCLIX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.81	+0.02
Sortino ratio: Return per unit of downside risk	2.38	2.41	-0.03
Omega ratio: Gain probability vs. loss probability	1.32	1.31	+0.01
Calmar ratio: Return relative to maximum drawdown	2.14	2.34	-0.21
Martin ratio: Return relative to average drawdown	7.15	7.89	-0.74

PCRIX vs. PCLIX - Sharpe Ratio Comparison

The current PCRIX Sharpe Ratio is 1.83, which is comparable to the PCLIX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of PCRIX and PCLIX, 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

PCRIX vs. PCLIX - Drawdown Comparison

The maximum PCRIX drawdown since its inception was -82.24%, which is greater than PCLIX's maximum drawdown of -66.60%. Use the drawdown chart below to compare losses from any high point for PCRIX and PCLIX.

Drawdown Indicators

	PCRIX	PCLIX	Difference
Max Drawdown Largest peak-to-trough decline	-82.24%	-66.60%	-15.64%
Max Drawdown (1Y) Largest decline over 1 year	-14.44%	-15.39%	+0.95%
Max Drawdown (3Y) Largest decline over 3 years	-14.44%	-15.39%	+0.95%
Max Drawdown (5Y) Largest decline over 5 years	-34.44%	-21.59%	-12.85%
Max Drawdown (10Y) Largest decline over 10 years	-39.07%	-51.78%	+12.71%
Current Drawdown Current decline from peak	-41.50%	-6.44%	-35.06%
Average Drawdown Average peak-to-trough decline	-47.93%	-24.00%	-23.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.34%	4.59%	-0.25%

Volatility

PCRIX vs. PCLIX - Volatility Comparison

The current volatility for PIMCO Commodity Real Return Strategy Fund (PCRIX) is 4.56%, while PIMCO CommoditiesPLUS Strategy Fund (PCLIX) has a volatility of 5.97%. This indicates that PCRIX experiences smaller price fluctuations and is considered to be less risky than PCLIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCRIX	PCLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	5.97%	-1.41%
Volatility (6M) Calculated over the trailing 6-month period	14.01%	17.90%	-3.89%
Volatility (1Y) Calculated over the trailing 1-year period	16.92%	19.99%	-3.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.61%	19.48%	+0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.09%	40.52%	-23.43%

PCRIX vs. PCLIX - Expense Ratio Comparison

PCRIX has a 0.80% expense ratio, which is lower than PCLIX's 0.98% expense ratio.

Dividends

PCRIX vs. PCLIX - Dividend Comparison

PCRIX's dividend yield for the trailing twelve months is around 9.95%, less than PCLIX's 10.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCLIX PIMCO CommoditiesPLUS Strategy Fund	10.37%	2.45%	7.50%	5.06%	42.60%	73.41%	0.77%	2.46%	18.58%	12.63%	0.16%	2.22%
PCRIX PIMCO Commodity Real Return Strategy Fund	9.95%	5.61%	8.34%	6.57%	46.23%	22.74%	1.56%	4.00%	5.94%	8.14%	0.91%	5.29%

Frequently Asked Questions

Can I hold both PCRIX and PCLIX in my portfolio?

With a correlation of 0.91, PCRIX and PCLIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PCRIX or PCLIX?

PCLIX has higher volatility (5.97%) compared to PCRIX (4.56%). In terms of maximum drawdown, PCRIX dropped -82.24% vs PCLIX's -66.60%.

Which has better risk-adjusted returns?

PCRIX currently has the higher Sharpe Ratio (1.83 vs 1.81), 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.