PEFIX vs. PCFIX

Last updated Jun 4, 2026

PEFIX (PIMCO RAE PLUS EMG Fund) and PCFIX (PIMCO RAE PLUS Small Fund) are both mutual funds - PEFIX is a Emerging Markets Diversified fund managed by PIMCO, while PCFIX is a Small Cap Value Equities fund managed by PIMCO. Over the past 10 years, PEFIX returned 13.24%/yr vs 13.98%/yr for PCFIX. At a 0.38 correlation, their price movements are largely independent. PEFIX charges 1.10%/yr vs 0.85%/yr for PCFIX.

Performance

PEFIX vs. PCFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAE PLUS EMG Fund (PEFIX) and PIMCO RAE PLUS Small Fund (PCFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PEFIX achieves a 24.22% return, which is significantly higher than PCFIX's 19.19% return. Over the past 10 years, PEFIX has underperformed PCFIX with an annualized return of 13.24%, while PCFIX has yielded a comparatively higher 13.98% annualized return.

PEFIX

• 1D: 0.98%
• 1M: 7.52%
• YTD: 24.22%
• 6M: 24.22%
• 1Y: 48.19%
• 3Y*: 23.82%
• 5Y*: 10.12%
• 10Y*: 13.24%

PCFIX

• 1D: 1.80%
• 1M: 8.04%
• YTD: 19.19%
• 6M: 17.51%
• 1Y: 39.07%
• 3Y*: 23.06%
• 5Y*: 9.08%
• 10Y*: 13.98%

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

PEFIX vs. PCFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEFIX PIMCO RAE PLUS EMG Fund	24.22%	27.34%	7.08%	20.00%	-16.85%	20.69%	5.27%	14.80%	-13.51%	31.80%
PCFIX PIMCO RAE PLUS Small Fund	19.19%	6.78%	20.88%	18.04%	-12.46%	39.43%	9.77%	21.53%	-12.19%	12.90%

Correlation

The correlation between PEFIX and PCFIX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011	0.38

The correlation between PEFIX and PCFIX shifts across timeframes, from 0.27 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PEFIX vs. PCFIX — Risk / Return Rank

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

PEFIX

PEFIX Risk / Return Rank: 89
PEFIX Sharpe Ratio Rank: 95
PEFIX Sortino Ratio Rank: 90
PEFIX Omega Ratio Rank: 87
PEFIX Calmar Ratio Rank: 87
PEFIX Martin Ratio Rank: 84

PCFIX

PCFIX Risk / Return Rank: 68
PCFIX Sharpe Ratio Rank: 62
PCFIX Sortino Ratio Rank: 60
PCFIX Omega Ratio Rank: 51
PCFIX Calmar Ratio Rank: 90
PCFIX 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.

PEFIX vs. PCFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE PLUS EMG Fund (PEFIX) and PIMCO RAE PLUS Small Fund (PCFIX). 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.

	PEFIX	PCFIX	Difference
Sharpe ratio: Return per unit of total volatility	3.38	2.31	+1.06
Sortino ratio: Return per unit of downside risk	4.37	3.25	+1.11
Omega ratio: Gain probability vs. loss probability	1.61	1.39	+0.22
Calmar ratio: Return relative to maximum drawdown	4.19	4.65	-0.45
Martin ratio: Return relative to average drawdown	15.98	14.96	+1.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEFIX vs. PCFIX - Sharpe Ratio Comparison

The current PEFIX Sharpe Ratio is 3.38, which is higher than the PCFIX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of PEFIX and PCFIX, 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

	PEFIX	PCFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.38	2.31	+1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.39	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.56	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.66	+0.01

Drawdowns

PEFIX vs. PCFIX - Drawdown Comparison

The maximum PEFIX drawdown since its inception was -51.44%, roughly equal to the maximum PCFIX drawdown of -52.02%. Use the drawdown chart below to compare losses from any high point for PEFIX and PCFIX.

Drawdown Indicators

	PEFIX	PCFIX	Difference
Max Drawdown Largest peak-to-trough decline	-51.44%	-52.02%	+0.58%
Max Drawdown (1Y) Largest decline over 1 year	-11.86%	-8.87%	-2.99%
Max Drawdown (3Y) Largest decline over 3 years	-20.78%	-28.08%	+7.30%
Max Drawdown (5Y) Largest decline over 5 years	-32.17%	-28.76%	-3.41%
Max Drawdown (10Y) Largest decline over 10 years	-51.44%	-52.02%	+0.58%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-11.94%	-7.85%	-4.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	2.74%	+0.36%

Volatility

PEFIX vs. PCFIX - Volatility Comparison

The current volatility for PIMCO RAE PLUS EMG Fund (PEFIX) is 5.04%, while PIMCO RAE PLUS Small Fund (PCFIX) has a volatility of 5.81%. This indicates that PEFIX experiences smaller price fluctuations and is considered to be less risky than PCFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEFIX	PCFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	5.81%	-0.77%
Volatility (6M) Calculated over the trailing 6-month period	12.40%	12.34%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	14.72%	17.83%	-3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.63%	23.21%	-7.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.85%	24.87%	-8.02%

PEFIX vs. PCFIX - Expense Ratio Comparison

PEFIX has a 1.10% expense ratio, which is higher than PCFIX's 0.85% expense ratio.

Dividends

PEFIX vs. PCFIX - Dividend Comparison

PEFIX's dividend yield for the trailing twelve months is around 3.62%, more than PCFIX's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCFIX PIMCO RAE PLUS Small Fund	2.51%	2.24%	6.12%	2.12%	13.29%	224.73%	18.00%	2.63%	12.78%	9.33%	0.00%	26.50%
PEFIX PIMCO RAE PLUS EMG Fund	3.62%	3.73%	9.33%	2.11%	18.29%	46.03%	8.19%	0.38%	4.76%	7.08%	4.48%	0.00%

Frequently Asked Questions

Can I hold both PEFIX and PCFIX in my portfolio?

PEFIX and PCFIX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEFIX or PCFIX?

PCFIX has higher volatility (5.81%) compared to PEFIX (5.04%). In terms of maximum drawdown, PEFIX dropped -51.44% vs PCFIX's -52.02%.

Which has better risk-adjusted returns?

PEFIX currently has the higher Sharpe Ratio (3.38 vs 2.31), 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.