PPT vs. PCF
PPT (Putnam Premier Income Trust) and PCF (High Income Securities Fund) are both mutual funds — PPT is a Multisector Bonds fund actively managed by Putnam Investments, while PCF is a Convertible Bonds fund actively managed by Putnam Investments. Both are actively managed. Over the past 10 years, PPT returned 4.97%/yr vs 6.56%/yr for PCF. At 0.15, their price movements are largely independent.
Performance
PPT vs. PCF - Performance Comparison
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Returns By Period
In the year-to-date period, PPT achieves a 1.92% return, which is significantly higher than PCF's -6.22% return. Over the past 10 years, PPT has underperformed PCF with an annualized return of 4.97%, while PCF has yielded a comparatively higher 6.56% annualized return.
PPT
- 1D
- 0.00%
- 1M
- 1.03%
- YTD
- 1.92%
- 6M
- 0.46%
- 1Y
- 10.26%
- 3Y*
- 9.03%
- 5Y*
- 2.47%
- 10Y*
- 4.97%
PCF
- 1D
- 0.36%
- 1M
- 0.88%
- YTD
- -6.22%
- 6M
- -4.87%
- 1Y
- 2.45%
- 3Y*
- 7.61%
- 5Y*
- 2.30%
- 10Y*
- 6.56%
PPT vs. PCF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PPT Putnam Premier Income Trust | 1.92% | 8.39% | 8.80% | 7.43% | -7.75% | -1.72% | -6.54% | 25.53% | -6.36% | 13.78% |
PCF High Income Securities Fund | -6.22% | 5.31% | 16.66% | 10.45% | -15.56% | 11.44% | 8.13% | 4.22% | 5.46% | 14.58% |
Correlation
The correlation between PPT and PCF is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 1988 | 0.15 |
The correlation between PPT and PCF shifts across timeframes, from 0.15 (all time) to 0.27 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PPT vs. PCF — Risk / Return Rank
PPT
PCF
PPT vs. PCF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Premier Income Trust (PPT) and High Income Securities Fund (PCF). 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.
| PPT | PCF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.03 | 0.24 | +0.80 |
Sortino ratioReturn per unit of downside risk | 1.61 | 0.41 | +1.20 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.05 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.91 | 0.40 | +1.50 |
Martin ratioReturn relative to average drawdown | 5.37 | 1.27 | +4.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PPT | PCF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.03 | 0.24 | +0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.14 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.34 | 0.38 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.23 | -0.07 |
Drawdowns
PPT vs. PCF - Drawdown Comparison
The maximum PPT drawdown since its inception was -49.76%, smaller than the maximum PCF drawdown of -53.82%. Use the drawdown chart below to compare losses from any high point for PPT and PCF.
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Drawdown Indicators
| PPT | PCF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.76% | -53.82% | +4.06% |
Max Drawdown (1Y)Largest decline over 1 year | -5.05% | -10.73% | +5.68% |
Max Drawdown (5Y)Largest decline over 5 years | -18.92% | -29.06% | +10.14% |
Max Drawdown (10Y)Largest decline over 10 years | -31.79% | -45.13% | +13.34% |
Current DrawdownCurrent decline from peak | -2.57% | -8.11% | +5.54% |
Average DrawdownAverage peak-to-trough decline | -11.27% | -10.51% | -0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 3.40% | -1.61% |
Volatility
PPT vs. PCF - Volatility Comparison
The current volatility for Putnam Premier Income Trust (PPT) is 4.40%, while High Income Securities Fund (PCF) has a volatility of 5.36%. This indicates that PPT experiences smaller price fluctuations and is considered to be less risky than PCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PPT | PCF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.40% | 5.36% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 7.56% | 8.46% | -0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.35% | 11.00% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.03% | 16.08% | -4.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.47% | 17.47% | -3.00% |
Dividends
PPT vs. PCF - Dividend Comparison
PPT's dividend yield for the trailing twelve months is around 8.84%, less than PCF's 12.64% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PPT Putnam Premier Income Trust | 8.84% | 8.81% | 8.76% | 8.74% | 8.60% | 7.31% | 8.84% | 7.73% | 6.84% | 5.85% | 6.28% | 6.30% |
PCF High Income Securities Fund | 12.64% | 11.57% | 11.29% | 11.29% | 13.48% | 10.82% | 11.46% | 3.29% | 6.88% | 3.97% | 4.52% | 5.07% |