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PMJIX vs. PCM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PMJIX vs. PCM

Last updated Jun 25, 2026

PMJIX (PIMCO RAE US Small Fund) and PCM (PCM Fund Inc.) are both mutual funds - PMJIX is a Small Cap Value Equities fund managed by PIMCO, while PCM is a Mortgage Backed Securities fund actively managed by PIMCO. Over the past 10 years, PMJIX returned 13.98%/yr vs 5.07%/yr for PCM. At a 0.25 correlation, their price movements are largely independent.

Performance

PMJIX vs. PCM - Performance Comparison

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

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Returns By Period

In the year-to-date period, PMJIX achieves a 18.23% return, which is significantly higher than PCM's -3.64% return. Over the past 10 years, PMJIX has outperformed PCM with an annualized return of 13.98%, while PCM has yielded a comparatively lower 5.07% annualized return.

PMJIX

1D
-0.58%
1M
3.85%
YTD
18.23%
6M
14.97%
1Y
33.78%
3Y*
21.87%
5Y*
10.58%
10Y*
13.98%

PCM

1D
0.73%
1M
-0.99%
YTD
-3.64%
6M
-2.29%
1Y
-0.12%
3Y*
-5.76%
5Y*
-4.21%
10Y*
5.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PMJIX vs. PCM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PMJIX
PIMCO RAE US Small Fund		18.23%5.11%22.05%19.77%-4.62%39.15%6.95%20.22%-11.69%9.22%
PCM
PCM Fund Inc.		-3.64%-10.10%8.81%12.44%-18.96%8.57%3.05%23.05%-4.47%26.46%

Correlation

The correlation between PMJIX and PCM is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.29

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

0.22

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

0.26

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

0.24

Correlation (All Time)
Calculated using the full available price history since Jun 5, 2015

0.25

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PIMCO RAE US Small Fund

PCM Fund Inc.

Often compared with PMJIX:
PMJIX vs. FSSNXPMJIX vs. DEVLXPMJIX vs. FFLEXPMJIX vs. DAABXPMJIX vs. VSMAXPMJIX vs. CCASXPMJIX vs. FXAIX
Often compared with PCM:
PCM vs. JLSPCM vs. VWTAXPCM vs. PRXAXPCM vs. FMYPCM vs. VUSSXPCM vs. PONAXPCM vs. PIMIX

Return for Risk

PMJIX vs. PCM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PMJIX
PMJIX Risk / Return Rank: 6767
Overall Rank
PMJIX Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
PMJIX Sortino Ratio Rank: 5959
Sortino Ratio Rank
PMJIX Omega Ratio Rank: 4848
Omega Ratio Rank
PMJIX Calmar Ratio Rank: 9292
Calmar Ratio Rank
PMJIX Martin Ratio Rank: 7979
Martin Ratio Rank
PCM
PCM Risk / Return Rank: 33
Overall Rank
PCM Sharpe Ratio Rank: 33
Sharpe Ratio Rank
PCM Sortino Ratio Rank: 33
Sortino Ratio Rank
PCM Omega Ratio Rank: 33
Omega Ratio Rank
PCM Calmar Ratio Rank: 33
Calmar Ratio Rank
PCM Martin Ratio Rank: 33
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.

PMJIX vs. PCM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE US Small Fund (PMJIX) and PCM Fund Inc. (PCM). 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.

PMJIXPCMDifference
Sharpe ratioReturn per unit of total volatility
2.03
-0.01

+2.04

Sortino ratioReturn per unit of downside risk
2.90
0.06

+2.84

Omega ratioGain probability vs. loss probability

1.34

1.01

+0.33

Calmar ratioReturn relative to maximum drawdown

4.61

-0.01

+4.62

Martin ratioReturn relative to average drawdown

13.64

-0.02

+13.66

PMJIX vs. PCM - Sharpe Ratio Comparison

The current PMJIX Sharpe Ratio is 2.03, which is higher than the PCM Sharpe Ratio of -0.01. The chart below compares the historical Sharpe Ratios of PMJIX and PCM, 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

PMJIX vs. PCM - Drawdown Comparison

The maximum PMJIX drawdown since its inception was -49.75%, smaller than the maximum PCM drawdown of -64.88%. Use the drawdown chart below to compare losses from any high point for PMJIX and PCM.

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Drawdown Indicators

PMJIXPCMDifference

Max Drawdown

Largest peak-to-trough decline

-49.75%

-64.88%

+15.13%

Max Drawdown (1Y)

Largest decline over 1 year

-7.62%

-12.81%

+5.19%

Max Drawdown (3Y)

Largest decline over 3 years

-26.04%

-29.62%

+3.58%

Max Drawdown (5Y)

Largest decline over 5 years

-49.75%

-29.62%

-20.13%

Max Drawdown (10Y)

Largest decline over 10 years

-49.75%

-47.69%

-2.06%

Current Drawdown

Current decline from peak

-2.76%

-22.39%

+19.63%

Average Drawdown

Average peak-to-trough decline

-16.14%

-9.73%

-6.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.57%

6.31%

-3.74%

Volatility

PMJIX vs. PCM - Volatility Comparison

PIMCO RAE US Small Fund (PMJIX) has a higher volatility of 5.31% compared to PCM Fund Inc. (PCM) at 2.18%. This indicates that PMJIX's price experiences larger fluctuations and is considered to be riskier than PCM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PMJIXPCMDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.31%

2.18%

+3.13%

Volatility (6M)

Calculated over the trailing 6-month period

11.89%

7.95%

+3.94%

Volatility (1Y)

Calculated over the trailing 1-year period

17.30%

11.36%

+5.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

39.45%

20.33%

+19.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.08%

22.71%

+10.37%

Dividends

PMJIX vs. PCM - Dividend Comparison

PMJIX's dividend yield for the trailing twelve months is around 2.67%, less than PCM's 13.91% yield.

PositionTTM20252024202320222021202020192018201720162015
PCM
PCM Fund Inc.		13.91%12.56%12.47%12.06%12.20%8.96%8.95%8.38%9.46%8.47%14.60%10.39%
PMJIX
PIMCO RAE US Small Fund		2.67%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

PMJIX and PCM have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PMJIX has higher volatility (5.31%) compared to PCM (2.18%). In terms of maximum drawdown, PMJIX dropped -49.75% vs PCM's -64.88%.

PMJIX currently has the higher Sharpe Ratio (2.03 vs -0.01), 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.

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