PCQ vs VOO
PIMCO California Municipal Income Fund vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | PCQ | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.20% | 0.03% | |
| AUM | $556M | $979.0B | |
| Dividend Yield | 4.28% | 1.09% | |
| Holdings | 263 | 509 | |
| YTD Return | +4.06% | +13.79% | |
| 1Y Return | +13.01% | +23.01% | |
| 3Y Return (annualized) | +1.19% | +21.78% | |
| 5Y Return (annualized) | -10.05% | +13.39% | |
| Volatility (annualized) | 15.6% | 14.1% | |
| Max Drawdown | -60.6% | -34.3% | |
| Fund Family | PIMCO (US) | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jun 29, 2001 | Sep 7, 2010 |
PCQ vs VOO Performance
PIMCO California Municipal Income Fund (PCQ) is a ETF from PIMCO (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year PCQ returned +13.01% while VOO returned +23.01%. Year to date, PCQ is up 4.06% versus a gain of 13.79% for VOO.
Over three years, PCQ compounded at +1.19% per year against +21.78% for VOO; over five years the annualized figures are -10.05% and +13.39% respectively. Across the full 16-year window we track, VOO has the edge at +13.57% annualized vs -1.10%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PCQ has been the more volatile fund, with annualized monthly volatility of 15.6% compared with 14.1% for VOO. 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 -60.6% for PCQ and -34.3% for VOO. 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 0.25. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PCQ charges 1.20% per year while VOO charges 0.03%. On a $10,000 position that is $120 vs $3 annually, a gap of $117 per year that compounds over a long holding period. On income, PCQ currently yields 4.28% against 1.09% for VOO.
Holdings Overlap
PCQ and VOO share 0 holdings out of 589 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, PCQ or VOO?
PCQ has an expense ratio of 1.20% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $117 per year of difference.
Which performed better, PCQ or VOO?
Over the past year PCQ returned +13.01% vs +23.01% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), PCQ annualized -1.10% vs +13.57% for VOO. Past performance does not guarantee future results.
Which is riskier, PCQ or VOO?
PCQ has been the more volatile fund at 15.6% annualized versus 14.1% for VOO. Worst drawdown: PCQ -60.6% vs VOO -34.3%.
Should I hold both PCQ and VOO?
PCQ and VOO have a monthly-return correlation of 0.25, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PCQ and VOO?
PCQ and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 589 unique securities.
Which pays a higher dividend, PCQ or VOO?
PCQ yields 4.28% while VOO yields 1.09%, so PCQ currently pays the higher dividend yield.
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