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PGZ vs. PFN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PGZ vs. PFN

Last updated Jun 23, 2026

PGZ (Principal Real Estate Income Fund) is a stock, while PFN (PIMCO Income Strategy Fund II) is Multisector Bonds fund managed by PIMCO. Over the past 10 years, PGZ returned 4.18%/yr vs 7.84%/yr for PFN. At a 0.29 correlation, their price movements are largely independent.

Performance

PGZ vs. PFN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Real Estate Income Fund (PGZ) and PIMCO Income Strategy Fund II (PFN). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PGZ achieves a 6.30% return, which is significantly higher than PFN's -3.98% return. Over the past 10 years, PGZ has underperformed PFN with an annualized return of 4.18%, while PFN has yielded a comparatively higher 7.84% annualized return.

PGZ

1D
1.73%
1M
3.53%
YTD
6.30%
6M
7.58%
1Y
8.31%
3Y*
16.49%
5Y*
2.90%
10Y*
4.18%

PFN

1D
-0.44%
1M
0.03%
YTD
-3.98%
6M
-1.21%
1Y
4.74%
3Y*
10.28%
5Y*
1.75%
10Y*
7.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PGZ vs. PFN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PGZ
Principal Real Estate Income Fund		6.30%14.50%17.99%4.05%-27.98%38.70%-36.50%36.77%3.92%18.23%
PFN
PIMCO Income Strategy Fund II		-3.98%13.07%15.72%15.43%-17.65%5.14%3.97%21.84%0.94%20.58%

Correlation

The correlation between PGZ and PFN is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.25

Correlation (3Y)
Calculated over the trailing 3-year period

0.28

Correlation (5Y)
Calculated over the trailing 5-year period

0.35

Correlation (10Y)
Calculated over the trailing 10-year period

0.31

Correlation (All Time)
Calculated using the full available price history since Jun 26, 2013

0.29

The correlation between PGZ and PFN shifts across timeframes, from 0.25 (1 year) to 0.35 (5 years), reflecting how their relationship changes across market environments.

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Principal Real Estate Income Fund

PIMCO Income Strategy Fund II

Often compared with PGZ:
PGZ vs. PGRPGZ vs. BDJPGZ vs. USAPGZ vs. GHYPGZ vs. GPIXPGZ vs. ARDCPGZ vs. KIO
Often compared with PFN:
PFN vs. PDIPFN vs. PCNPFN vs. PHKPFN vs. PTYPFN vs. GOFPFN vs. EICPFN vs. JEPI

Return for Risk

PGZ vs. PFN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PGZ
PGZ Risk / Return Rank: 6363
Overall Rank
PGZ Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
PGZ Sortino Ratio Rank: 6060
Sortino Ratio Rank
PGZ Omega Ratio Rank: 6161
Omega Ratio Rank
PGZ Calmar Ratio Rank: 6060
Calmar Ratio Rank
PGZ Martin Ratio Rank: 6868
Martin Ratio Rank
PFN
PFN Risk / Return Rank: 66
Overall Rank
PFN Sharpe Ratio Rank: 66
Sharpe Ratio Rank
PFN Sortino Ratio Rank: 66
Sortino Ratio Rank
PFN Omega Ratio Rank: 66
Omega Ratio Rank
PFN Calmar Ratio Rank: 66
Calmar Ratio Rank
PFN Martin Ratio Rank: 77
Martin Ratio Rank
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.

PGZ vs. PFN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Real Estate Income Fund (PGZ) and PIMCO Income Strategy Fund II (PFN). 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.

PGZPFNDifference
Sharpe ratioReturn per unit of total volatility
0.79
0.47

+0.32

Sortino ratioReturn per unit of downside risk
1.20
0.74

+0.46

Omega ratioGain probability vs. loss probability

1.16

1.09

+0.07

Calmar ratioReturn relative to maximum drawdown

0.85

0.44

+0.41

Martin ratioReturn relative to average drawdown

3.16

1.63

+1.53

PGZ vs. PFN - Sharpe Ratio Comparison

The current PGZ Sharpe Ratio is 0.79, which is higher than the PFN Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of PGZ and PFN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PGZ vs. PFN - Drawdown Comparison

The maximum PGZ drawdown since its inception was -53.58%, smaller than the maximum PFN drawdown of -80.08%. Use the drawdown chart below to compare losses from any high point for PGZ and PFN.

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Drawdown Indicators

PGZPFNDifference

Max Drawdown

Largest peak-to-trough decline

-53.58%

-80.08%

+26.50%

Max Drawdown (1Y)

Largest decline over 1 year

-9.82%

-10.77%

+0.95%

Max Drawdown (3Y)

Largest decline over 3 years

-10.56%

-14.31%

+3.75%

Max Drawdown (5Y)

Largest decline over 5 years

-35.34%

-33.45%

-1.89%

Max Drawdown (10Y)

Largest decline over 10 years

-53.58%

-45.70%

-7.88%

Current Drawdown

Current decline from peak

-9.45%

-5.02%

-4.43%

Average Drawdown

Average peak-to-trough decline

-16.11%

-11.81%

-4.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.64%

2.92%

-0.28%

Volatility

PGZ vs. PFN - Volatility Comparison

Principal Real Estate Income Fund (PGZ) has a higher volatility of 3.29% compared to PIMCO Income Strategy Fund II (PFN) at 2.81%. This indicates that PGZ's price experiences larger fluctuations and is considered to be riskier than PFN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PGZPFNDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.29%

2.81%

+0.48%

Volatility (6M)

Calculated over the trailing 6-month period

9.09%

9.01%

+0.08%

Volatility (1Y)

Calculated over the trailing 1-year period

10.53%

10.16%

+0.37%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.85%

14.64%

+0.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.82%

18.19%

+3.63%

Dividends

PGZ vs. PFN - Dividend Comparison

PGZ's dividend yield for the trailing twelve months is around 12.60%, which matches PFN's 12.71% yield.

PositionTTM20252024202320222021202020192018201720162015
PFN
PIMCO Income Strategy Fund II		12.71%11.49%11.57%11.92%12.19%9.71%9.67%9.07%10.81%9.20%10.12%11.74%
PGZ
Principal Real Estate Income Fund		12.60%12.59%12.75%13.33%11.86%6.32%10.34%6.25%7.98%9.51%10.90%10.40%

Frequently Asked Questions

PGZ and PFN have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PGZ has higher volatility (3.29%) compared to PFN (2.81%). In terms of maximum drawdown, PGZ dropped -53.58% vs PFN's -80.08%.

PGZ currently has the higher Sharpe Ratio (0.79 vs 0.47), 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.

Portfolio Optimizer

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