PCRPX vs. PMJIX

Last updated Jun 4, 2026

PCRPX (PIMCO Commodity Real Return Strategy Fund) and PMJIX (PIMCO RAE US Small Fund) are both mutual funds - PCRPX is a Commodities fund managed by PIMCO, while PMJIX is a Small Cap Value Equities fund managed by PIMCO. Over the past 10 years, PCRPX returned 8.50%/yr vs 13.83%/yr for PMJIX. At a 0.29 correlation, their price movements are largely independent. PCRPX charges 0.92%/yr vs 0.50%/yr for PMJIX.

Performance

PCRPX vs. PMJIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Commodity Real Return Strategy Fund (PCRPX) 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, PCRPX achieves a 26.84% return, which is significantly higher than PMJIX's 19.26% return. Over the past 10 years, PCRPX has underperformed PMJIX with an annualized return of 8.50%, while PMJIX has yielded a comparatively higher 13.83% annualized return.

PCRPX

• 1D: 0.44%
• 1M: -2.51%
• YTD: 26.84%
• 6M: 23.66%
• 1Y: 39.65%
• 3Y*: 18.81%
• 5Y*: 12.56%
• 10Y*: 8.50%

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)

PCRPX vs. PMJIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCRPX PIMCO Commodity Real Return Strategy Fund	26.84%	16.26%	10.79%	-6.20%	9.12%	33.01%	0.73%	12.24%	-13.90%	2.62%
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 PCRPX and PMJIX is 0.01, 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	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.25
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 PCRPX and PMJIX has dropped to 0.01 - well below their long-term average of 0.29, suggesting their price drivers have been diverging.

Return for Risk

PCRPX vs. PMJIX — Risk / Return Rank

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

PCRPX

PCRPX Risk / Return Rank: 75
PCRPX Sharpe Ratio Rank: 73
PCRPX Sortino Ratio Rank: 54
PCRPX Omega Ratio Rank: 63
PCRPX Calmar Ratio Rank: 95
PCRPX 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.

PCRPX vs. PMJIX - Risk-Adjusted Trends Comparison

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

	PCRPX	PMJIX	Difference
Sharpe ratio: Return per unit of total volatility	2.48	2.24	+0.24
Sortino ratio: Return per unit of downside risk	3.11	3.16	-0.05
Omega ratio: Gain probability vs. loss probability	1.44	1.38	+0.07
Calmar ratio: Return relative to maximum drawdown	5.65	5.05	+0.60
Martin ratio: Return relative to average drawdown	17.69	14.96	+2.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PCRPX vs. PMJIX - Sharpe Ratio Comparison

The current PCRPX 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 PCRPX 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

	PCRPX	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	0.64	0.28	+0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.42	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.37	-0.35

Drawdowns

PCRPX vs. PMJIX - Drawdown Comparison

The maximum PCRPX drawdown since its inception was -72.22%, which is greater than PMJIX's maximum drawdown of -49.75%. Use the drawdown chart below to compare losses from any high point for PCRPX and PMJIX.

Drawdown Indicators

	PCRPX	PMJIX	Difference
Max Drawdown Largest peak-to-trough decline	-72.22%	-49.75%	-22.47%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-7.62%	+0.49%
Max Drawdown (3Y) Largest decline over 3 years	-10.32%	-26.04%	+15.72%
Max Drawdown (5Y) Largest decline over 5 years	-34.54%	-49.75%	+15.21%
Max Drawdown (10Y) Largest decline over 10 years	-39.15%	-49.75%	+10.60%
Current Drawdown Current decline from peak	-4.18%	0.00%	-4.18%
Average Drawdown Average peak-to-trough decline	-39.42%	-16.22%	-23.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	2.56%	-0.29%

Volatility

PCRPX vs. PMJIX - Volatility Comparison

PIMCO Commodity Real Return Strategy Fund (PCRPX) and PIMCO RAE US Small Fund (PMJIX) have volatilities of 5.26% 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

	PCRPX	PMJIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	5.13%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	14.12%	11.50%	+2.62%
Volatility (1Y) Calculated over the trailing 1-year period	16.31%	17.16%	-0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.71%	39.48%	-19.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.14%	33.09%	-15.95%

PCRPX vs. PMJIX - Expense Ratio Comparison

PCRPX has a 0.92% expense ratio, which is higher than PMJIX's 0.50% expense ratio.

Dividends

PCRPX vs. PMJIX - Dividend Comparison

PCRPX's dividend yield for the trailing twelve months is around 4.01%, more than PMJIX's 2.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCRPX PIMCO Commodity Real Return Strategy Fund	4.01%	5.09%	8.47%	6.50%	46.40%	22.80%	1.51%	3.93%	5.85%	8.06%	0.83%	5.23%
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 PCRPX and PMJIX in my portfolio?

PCRPX and PMJIX have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCRPX or PMJIX?

PCRPX has higher volatility (5.26%) compared to PMJIX (5.13%). In terms of maximum drawdown, PCRPX dropped -72.22% vs PMJIX's -49.75%.

Which has better risk-adjusted returns?

PCRPX 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.