RCS vs. PCN
RCS (PIMCO Strategic Income Fund) and PCN (PIMCO Corporate & Income Strategy Fund) are both mutual funds - RCS is a Intermediate Core-Plus Bond fund managed by PIMCO, while PCN is a Multisector Bonds fund actively managed by PIMCO. Over the past 10 years, RCS returned 2.85%/yr vs 6.85%/yr for PCN. Their 0.31 correlation means their historical movements had little consistent relationship.
Performance
RCS vs. PCN - Performance Comparison
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Returns By Period
In the year-to-date period, RCS achieves a -0.92% return, which is significantly higher than PCN's -2.18% return. Over the past 10 years, RCS has underperformed PCN with an annualized return of 2.85%, while PCN has yielded a comparatively higher 6.85% annualized return.
RCS
- 1D
- 1.55%
- 1M
- -4.00%
- 6M
- -8.30%
- YTD
- -0.92%
- 1Y
- -19.96%
- 3Y*
- 6.69%
- 5Y*
- 0.68%
- 10Y*
- 2.85%
- ALL TIME*
- 6.17%
PCN
- 1D
- 0.52%
- 1M
- -0.48%
- 6M
- -3.57%
- YTD
- -2.18%
- 1Y
- 3.15%
- 3Y*
- 4.89%
- 5Y*
- 0.22%
- 10Y*
- 6.85%
- ALL TIME*
- 9.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.16M | $3.77M | $3.67M | |
| $707.45K | $672.81K | $742.33K |
RCS vs. PCN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RCS PIMCO Strategic Income Fund | -0.92% | -21.48% | 37.47% | 37.60% | -18.72% | 6.33% | -16.19% | 1.62% | 15.51% | 14.39% |
PCN PIMCO Corporate & Income Strategy Fund | -2.18% | 5.55% | 19.52% | 16.22% | -22.88% | 6.93% | -2.19% | 39.10% | -5.94% | 26.20% |
Correlation
The correlation between RCS and PCN is 0.31, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.31 |
Correlation (3Y) Balances recent behavior with more history. | 0.32 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.38 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.37 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2001 | 0.31 |
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Return for Risk
RCS vs. PCN — Risk / Return Rank
RCS
PCN
RCS vs. PCN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Strategic Income Fund (RCS) 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.
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.
| RCS | PCN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -1.61 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.07 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | 0.30 | -0.91 |
| Martin ratioReturn relative to average drawdown | -0.92 | 0.77 | -1.69 |
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Drawdowns
RCS vs. PCN - Drawdown Comparison
The maximum RCS drawdown since its inception was -46.69%, smaller than the maximum PCN drawdown of -61.12%. Use the drawdown chart below to compare losses from any high point for RCS and PCN.
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Drawdown Indicators
| RCS | PCN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.69% | -61.12% | +14.43% |
Max Drawdown (1Y)Largest decline over 1 year | -32.94% | -10.40% | -22.54% |
Max Drawdown (3Y)Largest decline over 3 years | -32.94% | -22.53% | -10.41% |
Max Drawdown (5Y)Largest decline over 5 years | -36.18% | -33.39% | -2.79% |
Max Drawdown (10Y)Largest decline over 10 years | -46.69% | -50.27% | +3.58% |
Current DrawdownCurrent decline from peak | -29.32% | -4.73% | -24.59% |
Average DrawdownAverage peak-to-trough decline | -9.48% | -7.19% | -2.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.75% | 4.10% | +17.65% |
Volatility
RCS vs. PCN - Volatility Comparison
PIMCO Strategic Income Fund (RCS) has a higher volatility of 3.44% compared to PIMCO Corporate & Income Strategy Fund (PCN) at 2.42%. This indicates that RCS's price experiences larger fluctuations and is considered to be riskier than PCN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RCS | PCN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 2.42% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 16.51% | 7.46% | +9.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.32% | 10.04% | +14.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.23% | 16.18% | +9.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.81% | 21.92% | +3.89% |
Dividends
RCS vs. PCN - Dividend Comparison
RCS's dividend yield for the trailing twelve months is around 9.14%, less than PCN's 11.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCN PIMCO Corporate & Income Strategy Fund | 11.54% | 10.58% | 10.06% | 10.88% | 12.66% | 7.89% | 7.83% | 7.37% | 9.60% | 7.85% | 11.98% | 10.22% |
RCS PIMCO Strategic Income Fund | 9.14% | 8.62% | 8.03% | 10.07% | 12.39% | 9.01% | 9.57% | 8.44% | 8.93% | 9.50% | 10.92% | 11.17% |
Frequently Asked Questions
RCS and PCN have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RCS has higher volatility (3.44%) compared to PCN (2.42%). In terms of maximum drawdown, RCS dropped -46.69% vs PCN's -61.12%.
PCN currently has the higher Sharpe Ratio (0.32 vs -0.83), 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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