PCF vs VXUS
Putnam High Income Securities Fund vs Vanguard Total International Stock ETF
Quick Verdict
VXUS has a lower expense ratio. VXUS delivered stronger 1-year returns. VXUS offers more diversification with 7861 holdings.
Side-by-Side Comparison
| Metric | PCF | VXUS | Winner |
|---|---|---|---|
| Expense Ratio | 4.77% | 0.05% | |
| AUM | $117M | $156.5B | |
| Dividend Yield | 10.91% | 2.60% | |
| Holdings | 135 | 8,747 | |
| YTD Return | -6.46% | +14.57% | |
| 1Y Return | -5.03% | +27.82% | |
| 3Y Return (annualized) | +4.93% | +19.27% | |
| 5Y Return (annualized) | -1.01% | +9.28% | |
| Volatility (annualized) | 15.4% | 15.1% | |
| Max Drawdown | -67.3% | -39.9% | |
| Fund Family | Putnam Investments | Vanguard (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Jul 9, 1987 | Jan 26, 2011 |
PCF vs VXUS Performance
Putnam High Income Securities Fund (PCF) is a ETF from Putnam Investments and Vanguard Total International Stock ETF (VXUS) is a ETF from Vanguard (US). Over the past year PCF returned -5.03% while VXUS returned +27.82%. Year to date, PCF is down 6.46% versus a gain of 14.57% for VXUS.
Over three years, PCF compounded at +4.93% per year against +19.27% for VXUS; over five years the annualized figures are -1.01% and +9.28% respectively. Across the full 16-year window we track, VXUS has the edge at +4.86% annualized vs -0.04%. 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 15.1% for VXUS. 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 -39.9% for VXUS. 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 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PCF charges 4.77% per year while VXUS charges 0.05%. On a $10,000 position that is $477 vs $5 annually, a gap of $472 per year that compounds over a long holding period. On income, PCF currently yields 10.91% against 2.60% for VXUS.
Holdings Overlap
PCF and VXUS share 0 holdings out of 7960 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PCF or VXUS?
PCF has an expense ratio of 4.77% while VXUS charges 0.05%. VXUS is the cheaper option. On a $10,000 investment, that is $472 per year of difference.
Which performed better, PCF or VXUS?
Over the past year PCF returned -5.03% vs +27.82% for VXUS, so VXUS leads on 1-year performance. Over the longest common window we track (16 years), PCF annualized -0.04% vs +4.86% for VXUS. Past performance does not guarantee future results.
Which is riskier, PCF or VXUS?
PCF has been the more volatile fund at 15.4% annualized versus 15.1% for VXUS. Worst drawdown: PCF -67.3% vs VXUS -39.9%.
Should I hold both PCF and VXUS?
PCF and VXUS have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PCF and VXUS?
PCF and VXUS share 0 common holdings with a 0.0% weight overlap. Combined, they hold 7960 unique securities.
Which pays a higher dividend, PCF or VXUS?
PCF yields 10.91% while VXUS yields 2.60%, so PCF currently pays the higher dividend yield.
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