PCQ vs VTI
PIMCO California Municipal Income 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 | PCQ | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 1.20% | 0.03% | |
| AUM | $556M | $663.5B | |
| Dividend Yield | 4.28% | 1.07% | |
| Holdings | 263 | 3,543 | |
| YTD Return | +4.06% | +14.22% | |
| 1Y Return | +12.73% | +22.19% | |
| 3Y Return (annualized) | +1.05% | +21.27% | |
| 5Y Return (annualized) | -10.10% | +12.23% | |
| Volatility (annualized) | 15.6% | 15.3% | |
| Max Drawdown | -60.6% | -56.6% | |
| Fund Family | PIMCO (US) | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jun 29, 2001 | May 24, 2001 |
PCQ vs VTI Performance
PIMCO California Municipal Income Fund (PCQ) is a ETF from PIMCO (US) and Vanguard Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year PCQ returned +12.73% while VTI returned +22.19%. Year to date, PCQ is up 4.06% versus a gain of 14.22% for VTI.
Over three years, PCQ compounded at +1.05% per year against +21.27% for VTI; over five years the annualized figures are -10.10% and +12.23% respectively. Across the full 25-year window we track, VTI has the edge at +8.14% 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 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 -60.6% for PCQ 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 0.29. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PCQ charges 1.20% per year while VTI 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 1.07% for VTI.
Holdings Overlap
PCQ and VTI share 0 holdings out of 2867 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 VTI?
PCQ has an expense ratio of 1.20% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $117 per year of difference.
Which performed better, PCQ or VTI?
Over the past year PCQ returned +12.73% vs +22.19% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (25 years), PCQ annualized -1.10% vs +8.14% for VTI. Past performance does not guarantee future results.
Which is riskier, PCQ or VTI?
PCQ has been the more volatile fund at 15.6% annualized versus 15.3% for VTI. Worst drawdown: PCQ -60.6% vs VTI -56.6%.
Should I hold both PCQ and VTI?
PCQ and VTI have a monthly-return correlation of 0.29, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PCQ and VTI?
PCQ and VTI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 2867 unique securities.
Which pays a higher dividend, PCQ or VTI?
PCQ yields 4.28% while VTI yields 1.07%, so PCQ currently pays the higher dividend yield.
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