PCF vs VTI
Putnam High Income Securities Fund vs Vanguard Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 2783 holdings.
Side-by-Side Comparison
| Metric | PCF | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 4.77% | 0.03% | |
| AUM | $117M | $663.5B | |
| Dividend Yield | 10.91% | 1.07% | |
| Holdings | 135 | 3,543 | |
| YTD Return | -5.06% | +13.87% | |
| 1Y Return | -4.66% | +23.31% | |
| 3Y Return (annualized) | +4.24% | +21.17% | |
| 5Y Return (annualized) | -0.69% | +12.23% | |
| Volatility (annualized) | 15.4% | 15.3% | |
| Max Drawdown | -67.3% | -56.6% | |
| Fund Family | Putnam Investments | Vanguard (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Jul 9, 1987 | May 24, 2001 |
PCF vs VTI Performance
Putnam High Income Securities Fund (PCF) is a ETF from Putnam Investments and Vanguard Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year PCF returned -4.66% while VTI returned +23.31%. Year to date, PCF is down 5.06% versus a gain of 13.87% for VTI.
Over three years, PCF compounded at +4.24% per year against +21.17% for VTI; over five years the annualized figures are -0.69% and +12.23% respectively. Across the full 25-year window we track, VTI has the edge at +8.13% annualized vs +0.01%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PCF has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 15.3% for VTI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -67.3% for PCF and -56.6% for VTI. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PCF charges 4.77% per year while VTI charges 0.03%. On a $10,000 position that is $477 vs $3 annually, a gap of $474 per year that compounds over a long holding period. On income, PCF currently yields 10.91% against 1.07% for VTI.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, PCF or VTI?
PCF has an expense ratio of 4.77% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $474 per year of difference.
Which performed better, PCF or VTI?
Over the past year PCF returned -4.66% vs +23.31% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (25 years), PCF annualized +0.01% vs +8.13% for VTI. Past performance does not guarantee future results.
Which is riskier, PCF or VTI?
PCF has been the more volatile fund at 15.4% annualized versus 15.3% for VTI. Worst drawdown: PCF -67.3% vs VTI -56.6%.
Should I hold both PCF and VTI?
PCF and VTI have a monthly-return correlation of 0.66, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PCF and VTI?
PCF and VTI share 2 common holdings with a 0.0% weight overlap. Combined, they hold 2880 unique securities.
Which pays a higher dividend, PCF or VTI?
PCF yields 10.91% while VTI yields 1.07%, so PCF currently pays the higher dividend yield.
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