PPYPX vs. PCN

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO RAE International Fund (PPYPX) and PIMCO Corporate & Income Strategy Fund (PCN).

PPYPX is managed by PIMCO. It was launched on Jun 4, 2015. PCN is managed by PIMCO. It was launched on Dec 20, 2001.

Performance

PPYPX vs. PCN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAE International Fund (PPYPX) and PIMCO Corporate & Income Strategy Fund (PCN). The values are adjusted to include any dividend payments, if applicable.

PPYPX vs. PCN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PPYPX PIMCO RAE International Fund	8.42%	31.34%	-1.15%	18.13%	-8.73%	10.68%	2.05%	16.43%	-15.49%	24.89%
PCN PIMCO Corporate & Income Strategy Fund	-4.21%	5.55%	19.52%	16.22%	-22.88%	6.93%	-2.19%	39.10%	-5.94%	26.20%

Returns By Period

In the year-to-date period, PPYPX achieves a 8.42% return, which is significantly higher than PCN's -4.21% return. Over the past 10 years, PPYPX has outperformed PCN with an annualized return of 8.80%, while PCN has yielded a comparatively lower 8.27% annualized return.

PPYPX

• 1D: 0.63%
• 1M: -6.12%
• YTD: 8.42%
• 6M: 13.11%
• 1Y: 31.25%
• 3Y*: 15.99%
• 5Y*: 8.93%
• 10Y*: 8.80%

PCN

• 1D: 3.48%
• 1M: -4.53%
• YTD: -4.21%
• 6M: -6.22%
• 1Y: -3.05%
• 3Y*: 8.96%
• 5Y*: 2.37%
• 10Y*: 8.27%

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

PPYPX vs. PCN - Expense Ratio Comparison

PPYPX has a 0.60% expense ratio, which is lower than PCN's 0.85% expense ratio.

PCN

PIMCO Corporate & Income Strategy Fund

PPYPX

PIMCO RAE International Fund

Return for Risk

PPYPX vs. PCN — Risk / Return Rank

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

PPYPX

PPYPX Risk / Return Rank: 90
PPYPX Sharpe Ratio Rank: 92
PPYPX Sortino Ratio Rank: 89
PPYPX Omega Ratio Rank: 88
PPYPX Calmar Ratio Rank: 90
PPYPX Martin Ratio Rank: 93

PCN

PCN Risk / Return Rank: 3
PCN Sharpe Ratio Rank: 3
PCN Sortino Ratio Rank: 3
PCN Omega Ratio Rank: 3
PCN Calmar Ratio Rank: 4
PCN Martin Ratio Rank: 3

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.

PPYPX vs. PCN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE International Fund (PPYPX) and PIMCO Corporate & Income Strategy Fund (PCN). 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.

	PPYPX	PCN	Difference
Sharpe ratio Return per unit of total volatility	1.96	-0.20	+2.15
Sortino ratio Return per unit of downside risk	2.52	-0.15	+2.67
Omega ratio Gain probability vs. loss probability	1.38	0.97	+0.41
Calmar ratio Return relative to maximum drawdown	2.46	-0.20	+2.66
Martin ratio Return relative to average drawdown	11.58	-0.66	+12.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PPYPX vs. PCN - Sharpe Ratio Comparison

The current PPYPX Sharpe Ratio is 1.96, which is higher than the PCN Sharpe Ratio of -0.20. The chart below compares the historical Sharpe Ratios of PPYPX and PCN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PPYPX	PCN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	-0.20	+2.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.14	+0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.38	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.39	+0.06

Correlation

The correlation between PPYPX and PCN is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PPYPX vs. PCN - Dividend Comparison

PPYPX's dividend yield for the trailing twelve months is around 7.17%, less than PCN's 11.34% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PPYPX PIMCO RAE International Fund	7.17%	7.78%	6.57%	10.09%	7.20%	27.06%	2.23%	4.20%	5.96%	2.53%	2.41%	0.00%
PCN PIMCO Corporate & Income Strategy Fund	11.34%	10.58%	10.06%	10.88%	12.66%	7.89%	7.83%	7.37%	9.60%	7.85%	11.98%	10.22%

Drawdowns

PPYPX vs. PCN - Drawdown Comparison

The maximum PPYPX drawdown since its inception was -42.48%, smaller than the maximum PCN drawdown of -61.12%. Use the drawdown chart below to compare losses from any high point for PPYPX and PCN.

Drawdown Indicators

	PPYPX	PCN	Difference
Max Drawdown Largest peak-to-trough decline	-42.48%	-61.12%	+18.64%
Max Drawdown (1Y) Largest decline over 1 year	-10.21%	-13.78%	+3.57%
Max Drawdown (5Y) Largest decline over 5 years	-35.65%	-33.39%	-2.26%
Max Drawdown (10Y) Largest decline over 10 years	-42.48%	-50.27%	+7.79%
Current Drawdown Current decline from peak	-6.12%	-6.71%	+0.59%
Average Drawdown Average peak-to-trough decline	-10.28%	-7.22%	-3.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.47%	4.32%	-1.85%

Volatility

PPYPX vs. PCN - Volatility Comparison

The current volatility for PIMCO RAE International Fund (PPYPX) is 4.98%, while PIMCO Corporate & Income Strategy Fund (PCN) has a volatility of 5.81%. This indicates that PPYPX experiences smaller price fluctuations and is considered to be less risky than PCN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPYPX	PCN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	5.81%	-0.83%
Volatility (6M) Calculated over the trailing 6-month period	9.98%	8.64%	+1.34%
Volatility (1Y) Calculated over the trailing 1-year period	15.30%	15.69%	-0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.59%	16.55%	+3.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.07%	21.97%	-2.90%