PCF vs VTI
Putnam High Income Securities Fund vs Vanguard Morningstar Total Stock Market ETF
Which is better, PCF or VTI?
Debt-oriented balanced against Large Cap Blend.
VTI has a lower expense ratio. VTI led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PCF | VTI |
|---|---|---|
| Expense Ratio | 4.77% | 0.03%Best |
| AUM | $119M | $666.9B |
| Dividend Yield | 10.99% | 1.03% |
| Holdings | 135 | 3,543 |
| YTD Return | -6.70% | +13.60%Best |
| 1Y Return | -7.88% | +18.17%Best |
| 3Y Return (annualized) | +5.74% | +23.04%Best |
| 5Y Return (annualized) | +1.29% | +12.14%Best |
| Volatility (annualized) | 15.0%Best | 15.3% |
| Max Drawdown | -58.2% | -56.6%Best |
| $10,000 over 5 years | $10,662 | $17,734Best |
| Top 10 Weight | 33.3%Tie | 33.3%Tie |
| Fund Family | Putnam Investments | Vanguard (US) |
| Category | Allocation/Balanced | Equity |
| Style | Debt-oriented balanced | Large Cap Blend |
| Inception | Jul 9, 1987 | May 24, 2001 |
Volatility and max drawdown are measured over the window both funds cover: May 31, 2001 to Sep 25, 2026 (25.3 years).
PCF vs VTI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 25.3 years both funds cover.
PCF vs VTI Performance
Putnam High Income Securities Fund (PCF) is an ETF from Putnam Investments and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year PCF returned -7.88% while VTI returned +18.17%. Year to date, PCF is down 6.70% versus a gain of 13.60% for VTI.
Over three years, PCF compounded at +5.74% per year against +23.04% for VTI; over five years the annualized figures are +1.29% and +12.14% respectively. Across the full 25-year window we track, VTI has the edge at +8.07% annualized vs +1.17%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 15.0% for PCF. 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 -58.2% for PCF and -56.6% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.66. They move together some of the time, and apart the rest.
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 10.99% against 1.03% for VTI.
Holdings Overlap
1.3% of PCF's money is in holdings VTI also owns.
PCF and VTI share little of their money.
The two holdings books were reported 243 days apart, PCF as of Nov 30, 2025 and VTI as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
2 positions in common, counted across the 99 positions we hold weights for in PCF and 3,463 in VTI, against full books of 135 and 3,543.
What only one of them owns
Our book lists 1,150 positions for VTI that do not appear in our book for PCF (97.5% of the fund), and 76 for PCF that do not appear in VTI (82.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of PCF and VTI you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $474 a year on a $10,000 investment.
Which performed better, PCF or VTI?
Over the past year PCF returned -7.88% vs +18.17% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (25 years), PCF annualized +1.17% vs +8.07% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PCF or VTI?
VTI has been the more volatile fund at 15.3% annualized versus 15.0% for PCF. Worst drawdown: PCF -58.2% vs VTI -56.6%.
Should I hold both PCF and VTI?
PCF and VTI have a monthly-return correlation of 0.66, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PCF and VTI?
1.3% of PCF's money is in holdings VTI also owns. 0.0% of VTI's is in holdings PCF also owns. They hold 2 positions in common, counted across the 99 positions we hold weights for in PCF and 3,463 in VTI.
Which pays a higher dividend, PCF or VTI?
PCF yields 10.99% while VTI yields 1.03%, so PCF currently pays the higher dividend yield.
Is VTI better than PCF?
VTI has a lower expense ratio. VTI led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.