VUSSX vs. PCM
VUSSX (Invesco Quality Income Fund Class R6) and PCM (PCM Fund Inc.) are both Mortgage Backed Securities funds. Both are actively managed. Over the past 5 years, VUSSX returned 0.36%/yr vs -4.33%/yr for PCM. At a 0.11 correlation, their price movements are largely independent.
Performance
VUSSX vs. PCM - Performance Comparison
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Returns By Period
In the year-to-date period, VUSSX achieves a 0.62% return, which is significantly higher than PCM's -4.34% return.
VUSSX
- 1D
- 0.30%
- 1M
- 0.84%
- YTD
- 0.62%
- 6M
- 0.94%
- 1Y
- 6.14%
- 3Y*
- 4.45%
- 5Y*
- 0.36%
- 10Y*
- —
PCM
- 1D
- -0.36%
- 1M
- -1.70%
- YTD
- -4.34%
- 6M
- -3.71%
- 1Y
- -0.38%
- 3Y*
- -5.99%
- 5Y*
- -4.33%
- 10Y*
- 5.00%
VUSSX vs. PCM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VUSSX Invesco Quality Income Fund Class R6 | 0.62% | 8.61% | 1.38% | 4.81% | -12.14% | -1.37% | 5.79% | 6.37% | 0.26% | 1.61% |
PCM PCM Fund Inc. | -4.34% | -10.10% | 8.81% | 12.44% | -18.96% | 8.57% | 3.05% | 23.05% | -4.47% | 22.18% |
Correlation
The correlation between VUSSX and PCM 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 | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2017 | 0.11 |
The correlation between VUSSX and PCM shifts across timeframes, from 0.11 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VUSSX vs. PCM — Risk / Return Rank
VUSSX
PCM
VUSSX vs. PCM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Quality Income Fund Class R6 (VUSSX) 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.
| VUSSX | PCM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.51 | ||
| Sortino ratioReturn per unit of downside risk | +2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.00 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | -0.03 | +1.99 |
| Martin ratioReturn relative to average drawdown | 6.04 | -0.06 | +6.10 |
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Drawdowns
VUSSX vs. PCM - Drawdown Comparison
The maximum VUSSX drawdown since its inception was -18.43%, smaller than the maximum PCM drawdown of -64.88%. Use the drawdown chart below to compare losses from any high point for VUSSX and PCM.
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Drawdown Indicators
| VUSSX | PCM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.43% | -64.88% | +46.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -12.81% | +9.60% |
Max Drawdown (3Y)Largest decline over 3 years | -7.58% | -29.62% | +22.04% |
Max Drawdown (5Y)Largest decline over 5 years | -17.85% | -29.62% | +11.77% |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.69% | — |
Current DrawdownCurrent decline from peak | -1.49% | -22.95% | +21.46% |
Average DrawdownAverage peak-to-trough decline | -4.53% | -9.73% | +5.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 6.28% | -5.24% |
Volatility
VUSSX vs. PCM - Volatility Comparison
The current volatility for Invesco Quality Income Fund Class R6 (VUSSX) is 1.46%, while PCM Fund Inc. (PCM) has a volatility of 2.08%. This indicates that VUSSX experiences smaller price fluctuations and is considered to be less risky 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
| VUSSX | PCM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 2.08% | -0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 3.23% | 7.92% | -4.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.27% | 11.36% | -7.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.49% | 20.33% | -13.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.16% | 22.71% | -17.55% |
Dividends
VUSSX vs. PCM - Dividend Comparison
VUSSX's dividend yield for the trailing twelve months is around 3.83%, less than PCM's 14.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCM PCM Fund Inc. | 14.02% | 12.56% | 12.47% | 12.06% | 12.20% | 8.96% | 8.95% | 8.38% | 9.46% | 8.47% | 14.60% | 10.39% |
VUSSX Invesco Quality Income Fund Class R6 | 3.83% | 3.69% | 4.30% | 3.20% | 3.37% | 3.49% | 4.00% | 4.09% | 4.27% | 2.78% | 0.00% | 0.00% |
Frequently Asked Questions
VUSSX and PCM have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCM has higher volatility (2.08%) compared to VUSSX (1.46%). In terms of maximum drawdown, VUSSX dropped -18.43% vs PCM's -64.88%.
VUSSX currently has the higher Sharpe Ratio (1.48 vs -0.03), 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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