PCRIX vs. PMJIX

Last updated Jun 4, 2026

PCRIX (PIMCO Commodity Real Return Strategy Fund) and PMJIX (PIMCO RAE US Small Fund) are both mutual funds - PCRIX is a Commodities fund managed by PIMCO, while PMJIX is a Small Cap Value Equities fund managed by PIMCO. Over the past 10 years, PCRIX returned -2.66%/yr vs 13.83%/yr for PMJIX. At a 0.29 correlation, their price movements are largely independent. PCRIX charges 0.80%/yr vs 0.50%/yr for PMJIX.

Performance

PCRIX vs. PMJIX - Performance Comparison

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

Returns By Period

In the year-to-date period, PCRIX achieves a 26.86% return, which is significantly higher than PMJIX's 19.26% return. Over the past 10 years, PCRIX has underperformed PMJIX with an annualized return of -2.66%, while PMJIX has yielded a comparatively higher 13.83% annualized return.

PCRIX

• 1D: 0.38%
• 1M: -2.54%
• YTD: 26.86%
• 6M: 23.71%
• 1Y: 39.70%
• 3Y*: 19.03%
• 5Y*: -9.52%
• 10Y*: -2.66%

PMJIX

• 1D: 1.46%
• 1M: 7.52%
• YTD: 19.26%
• 6M: 16.95%
• 1Y: 36.24%
• 3Y*: 22.47%
• 5Y*: 11.18%
• 10Y*: 13.83%

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

PCRIX vs. PMJIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCRIX PIMCO Commodity Real Return Strategy Fund	26.86%	17.05%	10.59%	-68.64%	8.94%	33.35%	0.79%	12.29%	-13.77%	2.71%
PMJIX PIMCO RAE US Small Fund	19.26%	5.11%	22.05%	19.77%	-4.62%	39.15%	6.95%	20.22%	-11.69%	9.22%

Correlation

The correlation between PCRIX and PMJIX is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jun 8, 2015	0.29

Over the past year, the correlation between PCRIX and PMJIX has dropped to 0.00 - well below their long-term average of 0.29, suggesting their price drivers have been diverging.

Return for Risk

PCRIX vs. PMJIX — Risk / Return Rank

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

PCRIX

PCRIX Risk / Return Rank: 75
PCRIX Sharpe Ratio Rank: 73
PCRIX Sortino Ratio Rank: 54
PCRIX Omega Ratio Rank: 62
PCRIX Calmar Ratio Rank: 95
PCRIX Martin Ratio Rank: 89

PMJIX

PMJIX Risk / Return Rank: 67
PMJIX Sharpe Ratio Rank: 58
PMJIX Sortino Ratio Rank: 56
PMJIX Omega Ratio Rank: 48
PMJIX Calmar Ratio Rank: 92
PMJIX Martin Ratio Rank: 80

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.

PCRIX vs. PMJIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Commodity Real Return Strategy Fund (PCRIX) and PIMCO RAE US Small Fund (PMJIX). 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.

	PCRIX	PMJIX	Difference
Sharpe ratio: Return per unit of total volatility	2.48	2.24	+0.24
Sortino ratio: Return per unit of downside risk	3.10	3.16	-0.06
Omega ratio: Gain probability vs. loss probability	1.44	1.38	+0.06
Calmar ratio: Return relative to maximum drawdown	5.66	5.05	+0.61
Martin ratio: Return relative to average drawdown	17.68	14.96	+2.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PCRIX vs. PMJIX - Sharpe Ratio Comparison

The current PCRIX Sharpe Ratio is 2.48, which is comparable to the PMJIX Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of PCRIX and PMJIX, 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

	PCRIX	PMJIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	2.24	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	0.28	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.10	0.42	-0.52
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	0.37	-0.48

Drawdowns

PCRIX vs. PMJIX - Drawdown Comparison

The maximum PCRIX drawdown since its inception was -88.17%, which is greater than PMJIX's maximum drawdown of -49.75%. Use the drawdown chart below to compare losses from any high point for PCRIX and PMJIX.

Drawdown Indicators

	PCRIX	PMJIX	Difference
Max Drawdown Largest peak-to-trough decline	-88.17%	-49.75%	-38.42%
Max Drawdown (1Y) Largest decline over 1 year	-7.12%	-7.62%	+0.50%
Max Drawdown (3Y) Largest decline over 3 years	-10.28%	-26.04%	+15.76%
Max Drawdown (5Y) Largest decline over 5 years	-78.15%	-49.75%	-28.40%
Max Drawdown (10Y) Largest decline over 10 years	-78.15%	-49.75%	-28.40%
Current Drawdown Current decline from peak	-79.68%	0.00%	-79.68%
Average Drawdown Average peak-to-trough decline	-51.80%	-16.22%	-35.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	2.56%	-0.29%

Volatility

PCRIX vs. PMJIX - Volatility Comparison

PIMCO Commodity Real Return Strategy Fund (PCRIX) and PIMCO RAE US Small Fund (PMJIX) have volatilities of 5.27% and 5.13%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCRIX	PMJIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.27%	5.13%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	14.12%	11.50%	+2.62%
Volatility (1Y) Calculated over the trailing 1-year period	16.32%	17.16%	-0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.79%	39.48%	-3.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.19%	33.09%	-5.90%

PCRIX vs. PMJIX - Expense Ratio Comparison

PCRIX has a 0.80% expense ratio, which is higher than PMJIX's 0.50% expense ratio.

Dividends

PCRIX vs. PMJIX - Dividend Comparison

PCRIX's dividend yield for the trailing twelve months is around 4.00%, more than PMJIX's 2.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCRIX PIMCO Commodity Real Return Strategy Fund	4.00%	5.61%	8.34%	16.19%	46.23%	22.74%	1.56%	4.00%	5.94%	8.14%	0.91%	5.29%
PMJIX PIMCO RAE US Small Fund	2.64%	3.15%	3.26%	1.25%	9.91%	65.79%	9.46%	1.55%	7.65%	4.69%	1.24%	1.67%

Frequently Asked Questions

Can I hold both PCRIX and PMJIX in my portfolio?

PCRIX and PMJIX have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCRIX or PMJIX?

PCRIX has higher volatility (5.27%) compared to PMJIX (5.13%). In terms of maximum drawdown, PCRIX dropped -88.17% vs PMJIX's -49.75%.

Which has better risk-adjusted returns?

PCRIX currently has the higher Sharpe Ratio (2.48 vs 2.24), 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.