PQTPX vs. PCN

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO TRENDS Managed Futures Strategy Fund (PQTPX) and PIMCO Corporate & Income Strategy Fund (PCN).

PQTPX is managed by PIMCO. It was launched on Dec 30, 2013. PCN is managed by PIMCO. It was launched on Dec 20, 2001.

Performance

PQTPX vs. PCN - Performance Comparison

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

PQTPX vs. PCN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PQTPX PIMCO TRENDS Managed Futures Strategy Fund	4.61%	2.41%	-3.08%	-4.21%	11.37%	14.83%	9.72%	2.83%	2.30%	2.21%
PCN PIMCO Corporate & Income Strategy Fund	-3.25%	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, PQTPX achieves a 4.61% return, which is significantly higher than PCN's -3.25% return. Over the past 10 years, PQTPX has underperformed PCN with an annualized return of 3.75%, while PCN has yielded a comparatively higher 8.38% annualized return.

PQTPX

• 1D: 0.18%
• 1M: -2.29%
• YTD: 4.61%
• 6M: 10.33%
• 1Y: 12.11%
• 3Y*: 2.06%
• 5Y*: 4.29%
• 10Y*: 3.75%

PCN

• 1D: 1.01%
• 1M: -4.03%
• YTD: -3.25%
• 6M: -4.99%
• 1Y: -2.00%
• 3Y*: 9.33%
• 5Y*: 2.58%
• 10Y*: 8.38%

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

PQTPX vs. PCN - Expense Ratio Comparison

PQTPX has a 1.51% expense ratio, which is higher than PCN's 0.85% expense ratio.

PQTPX

PIMCO TRENDS Managed Futures Strategy Fund

PCN

PIMCO Corporate & Income Strategy Fund

Return for Risk

PQTPX vs. PCN — Risk / Return Rank

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

PQTPX

PQTPX Risk / Return Rank: 65
PQTPX Sharpe Ratio Rank: 77
PQTPX Sortino Ratio Rank: 76
PQTPX Omega Ratio Rank: 67
PQTPX Calmar Ratio Rank: 68
PQTPX Martin Ratio Rank: 35

PCN

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

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.

PQTPX vs. PCN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO TRENDS Managed Futures Strategy Fund (PQTPX) 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.

	PQTPX	PCN	Difference
Sharpe ratio Return per unit of total volatility	1.39	-0.13	+1.52
Sortino ratio Return per unit of downside risk	1.89	-0.06	+1.95
Omega ratio Gain probability vs. loss probability	1.25	0.99	+0.26
Calmar ratio Return relative to maximum drawdown	1.54	-0.15	+1.69
Martin ratio Return relative to average drawdown	3.74	-0.48	+4.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PQTPX vs. PCN - Sharpe Ratio Comparison

The current PQTPX Sharpe Ratio is 1.39, which is higher than the PCN Sharpe Ratio of -0.13. The chart below compares the historical Sharpe Ratios of PQTPX 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

	PQTPX	PCN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	-0.13	+1.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.16	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.38	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.39	+0.07

Correlation

The correlation between PQTPX and PCN is -0.04. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

PQTPX vs. PCN - Dividend Comparison

PQTPX has not paid dividends to shareholders, while PCN's dividend yield for the trailing twelve months is around 11.23%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PQTPX PIMCO TRENDS Managed Futures Strategy Fund	0.00%	0.00%	0.00%	0.00%	14.80%	2.40%	5.63%	2.49%	0.32%	0.20%	0.00%	7.57%
PCN PIMCO Corporate & Income Strategy Fund	11.23%	10.58%	10.06%	10.88%	12.66%	7.89%	7.83%	7.37%	9.60%	7.85%	11.98%	10.22%

Drawdowns

PQTPX vs. PCN - Drawdown Comparison

The maximum PQTPX drawdown since its inception was -27.86%, smaller than the maximum PCN drawdown of -61.12%. Use the drawdown chart below to compare losses from any high point for PQTPX and PCN.

Drawdown Indicators

	PQTPX	PCN	Difference
Max Drawdown Largest peak-to-trough decline	-27.86%	-61.12%	+33.26%
Max Drawdown (1Y) Largest decline over 1 year	-8.02%	-13.78%	+5.76%
Max Drawdown (5Y) Largest decline over 5 years	-27.86%	-33.39%	+5.53%
Max Drawdown (10Y) Largest decline over 10 years	-27.86%	-50.27%	+22.41%
Current Drawdown Current decline from peak	-12.70%	-5.77%	-6.93%
Average Drawdown Average peak-to-trough decline	-9.37%	-7.22%	-2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	4.30%	-1.00%

Volatility

PQTPX vs. PCN - Volatility Comparison

The current volatility for PIMCO TRENDS Managed Futures Strategy Fund (PQTPX) is 3.61%, while PIMCO Corporate & Income Strategy Fund (PCN) has a volatility of 5.89%. This indicates that PQTPX 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

	PQTPX	PCN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	5.89%	-2.28%
Volatility (6M) Calculated over the trailing 6-month period	6.68%	8.70%	-2.02%
Volatility (1Y) Calculated over the trailing 1-year period	8.73%	15.72%	-6.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.86%	16.56%	-6.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.36%	21.97%	-12.61%