- ISIN
- US7141994035
- CUSIP
- 714199403
- Issuer
- Permanent Portfolio
- Inception Date
- Sep 27, 1991
- Category
- Short-Term Bond
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
PRVBX Performance Chart
Permanent Portfolio Versatile Bond Portfolio (PRVBX) is up 1.2% since the beginning of the year. PRVBX is currently trading at $66 per share. Investors who bought $1,000 worth of PRVBX shares 5 years ago would now be looking at an investment worth $1,141.
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Returns By Period
Permanent Portfolio Versatile Bond Portfolio (PRVBX) has returned 1.23% so far this year and 4.89% over the past 12 months. Over the last ten years, PRVBX has returned 4.31% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Permanent Portfolio Versatile Bond Portfolio
- 1D
- 0.12%
- 1M
- 0.58%
- YTD
- 1.23%
- 6M
- 1.36%
- 1Y
- 4.89%
- 3Y*
- 5.80%
- 5Y*
- 2.68%
- 10Y*
- 4.31%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
PRVBX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 1992, PRVBX's average daily return is +0.01%, while the average monthly return is +0.31%. At this rate, an investment would double in approximately 18.7 years.
Historically, 78% of months were positive and 22% were negative. The best month was Apr 2020 with a return of +9.0%, while the worst month was Mar 2020 at -11.7%. The longest winning streak lasted 50 consecutive months, and the longest losing streak was 9 months.
On a daily basis, PRVBX closed higher 55% of trading days. The best single day was Apr 9, 2020 with a return of +2.5%, while the worst single day was Mar 18, 2020 at -6.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.68% | 0.29% | -1.18% | 1.31% | -0.17% | 0.31% | 1.23% | ||||||
| 2025 | 0.69% | 0.89% | -0.22% | 0.39% | -0.46% | 0.99% | 1.07% | 0.98% | 0.69% | 0.03% | 0.16% | 0.32% | 5.66% |
| 2024 | 1.02% | 0.05% | 0.52% | -0.50% | 1.09% | 0.38% | 1.18% | 0.88% | 1.40% | -0.26% | 0.32% | -0.42% | 5.78% |
| 2023 | 2.86% | -0.87% | -0.02% | 0.86% | -0.43% | 0.45% | 0.69% | 0.42% | -0.03% | -0.27% | 1.61% | 1.49% | 6.91% |
| 2022 | -0.86% | -0.88% | -1.03% | -1.41% | 0.49% | -1.90% | 1.41% | -0.65% | -1.38% | -1.38% | 1.83% | -0.24% | -5.91% |
| 2021 | 0.61% | 0.33% | 0.56% | 0.72% | 0.31% | 0.33% | 0.45% | 0.08% | -0.11% | -0.09% | -0.41% | 0.12% | 2.93% |
Benchmark Metrics
Permanent Portfolio Versatile Bond Portfolio has an annualized alpha of 3.51%, beta of 0.02, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since January 02, 1992.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (13.56%) than losses (2.05%) - typical of diversified or defensive assets.
- Beta of 0.02 may look defensive, but with R2 of 0.02 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.02 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.51%
- Beta
- 0.02
- R²
- 0.02
- Upside Capture
- 13.56%
- Downside Capture
- 2.05%
Expense Ratio
PRVBX has an expense ratio of 0.64%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PRVBX ranks 84 for risk / return — in the top 84% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Permanent Portfolio Versatile Bond Portfolio (PRVBX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PRVBX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.37 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 2.78 | +0.51 |
| Martin ratioReturn relative to average drawdown | 12.76 | 12.44 | +0.33 |
Dividends
Dividend History
Permanent Portfolio Versatile Bond Portfolio provided a 4.13% dividend yield over the last twelve months, with an annual payout of $2.71 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $2.71 | $2.71 | $2.31 | $1.98 | $1.11 | $0.56 | $3.03 | $1.53 | $0.98 | $1.89 | $1.92 | $3.02 |
Dividend yield | 4.13% | 4.18% | 3.61% | 3.16% | 1.83% | 0.85% | 4.73% | 2.51% | 1.71% | 3.30% | 3.27% | 5.71% |
Monthly Dividends
The table displays the monthly dividend distributions for Permanent Portfolio Versatile Bond Portfolio. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.71 | $2.71 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.31 | $2.31 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.98 | $1.98 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.11 | $1.11 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.56 | $0.56 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Permanent Portfolio Versatile Bond Portfolio. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Permanent Portfolio Versatile Bond Portfolio was 16.91%, occurring on Mar 23, 2020. Recovery took 52 trading sessions.
The current Permanent Portfolio Versatile Bond Portfolio drawdown is 0.09%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -16.91%Mar 2020 | 28d | 2mo 14d | 3mo 12dFeb 2020 - Jun 2020 |
2016 correction2016 | -13.20%Feb 2016 | 9mo 20d | 5mo 24d | 1y 3moApr 2015 - Aug 2016 |
Bear market2022 | -8.22%Nov 2022 | 1y 1mo | 1y 1mo | 2y 3moSep 2021 - Dec 2023 |
2013 pullback2013 | -4.24%Jun 2013 | 1mo 15d | 7mo 9d | 8mo 24dMay 2013 - Jan 2014 |
2017 pullback2017 | -3.60%Jul 2017 | 4mo 28d | 9mo 3d | 1y 1moFeb 2017 - Apr 2018 |
Drawdown Indicators
| PRVBX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.91% | -56.78% | +39.87% |
Max Drawdown (1Y)Largest decline over 1 year | -1.51% | -9.10% | +7.59% |
Max Drawdown (3Y)Largest decline over 3 years | -1.51% | -18.90% | +17.39% |
Max Drawdown (5Y)Largest decline over 5 years | -8.22% | -25.43% | +17.21% |
Max Drawdown (10Y)Largest decline over 10 years | -16.91% | -33.92% | +17.01% |
Current DrawdownCurrent decline from peak | -0.09% | -1.80% | +1.71% |
Average DrawdownAverage peak-to-trough decline | -0.72% | -10.71% | +9.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.39% | 2.03% | -1.64% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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