DFYGX vs. PTSHX

Last updated Jun 4, 2026

DFYGX (DFA Two-Year Government Portfolio) and PTSHX (PIMCO Short Term Fund) are both Ultrashort Bond funds. Over the past 10 years, DFYGX returned 1.43%/yr vs 2.98%/yr for PTSHX. At a 0.09 correlation, their price movements are largely independent. DFYGX charges 0.17%/yr vs 0.45%/yr for PTSHX.

Performance

DFYGX vs. PTSHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Two-Year Government Portfolio (DFYGX) and PIMCO Short Term Fund (PTSHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFYGX achieves a 1.41% return, which is significantly lower than PTSHX's 1.92% return. Over the past 10 years, DFYGX has underperformed PTSHX with an annualized return of 1.43%, while PTSHX has yielded a comparatively higher 2.98% annualized return.

DFYGX

• 1D: 0.00%
• 1M: 0.21%
• YTD: 1.41%
• 6M: 1.69%
• 1Y: 2.63%
• 3Y*: 3.92%
• 5Y*: 1.99%
• 10Y*: 1.43%

PTSHX

• 1D: 0.00%
• 1M: 0.46%
• YTD: 1.92%
• 6M: 2.31%
• 1Y: 4.87%
• 3Y*: 5.72%
• 5Y*: 3.65%
• 10Y*: 2.98%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DFYGX vs. PTSHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFYGX DFA Two-Year Government Portfolio	1.41%	2.16%	5.15%	5.00%	-3.02%	-0.51%	0.38%	2.20%	1.42%	0.29%
PTSHX PIMCO Short Term Fund	1.92%	4.88%	6.43%	6.09%	-0.55%	0.02%	2.75%	2.74%	1.51%	2.43%

Correlation

The correlation between DFYGX and PTSHX is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (10Y) Calculated over the trailing 10-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Jun 7, 1996	0.09

The correlation between DFYGX and PTSHX shifts across timeframes, from -0.06 (10 years) to 0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DFYGX vs. PTSHX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DFYGX

DFYGX Risk / Return Rank: 55
DFYGX Sharpe Ratio Rank: 52
DFYGX Sortino Ratio Rank: 35
DFYGX Omega Ratio Rank: 99
DFYGX Calmar Ratio Rank: 46
DFYGX Martin Ratio Rank: 44

PTSHX

PTSHX Risk / Return Rank: 99
PTSHX Sharpe Ratio Rank: 95
PTSHX Sortino Ratio Rank: 100
PTSHX Omega Ratio Rank: 99
PTSHX Calmar Ratio Rank: 100
PTSHX Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DFYGX vs. PTSHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Two-Year Government Portfolio (DFYGX) and PIMCO Short Term Fund (PTSHX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DFYGX	PTSHX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	3.42	-1.30
Sortino ratio: Return per unit of downside risk	2.45	11.59	-9.14
Omega ratio: Gain probability vs. loss probability	2.55	3.89	-1.34
Calmar ratio: Return relative to maximum drawdown	2.57	23.80	-21.23
Martin ratio: Return relative to average drawdown	9.22	77.59	-68.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFYGX vs. PTSHX - Sharpe Ratio Comparison

The current DFYGX Sharpe Ratio is 2.12, which is lower than the PTSHX Sharpe Ratio of 3.42. The chart below compares the historical Sharpe Ratios of DFYGX and PTSHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DFYGX	PTSHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	3.42	-1.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.62	2.62	-0.99
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.44	2.22	-0.78
Sharpe Ratio (All Time) Calculated using the full available price history	1.85	1.71	+0.14

Drawdowns

DFYGX vs. PTSHX - Drawdown Comparison

The maximum DFYGX drawdown since its inception was -4.46%, smaller than the maximum PTSHX drawdown of -5.12%. Use the drawdown chart below to compare losses from any high point for DFYGX and PTSHX.

Drawdown Indicators

	DFYGX	PTSHX	Difference
Max Drawdown Largest peak-to-trough decline	-4.46%	-5.12%	+0.66%
Max Drawdown (1Y) Largest decline over 1 year	-1.04%	-0.21%	-0.83%
Max Drawdown (3Y) Largest decline over 3 years	-1.04%	-0.41%	-0.63%
Max Drawdown (5Y) Largest decline over 5 years	-4.36%	-2.33%	-2.03%
Max Drawdown (10Y) Largest decline over 10 years	-4.46%	-4.79%	+0.33%
Current Drawdown Current decline from peak	-0.10%	-0.10%	0.00%
Average Drawdown Average peak-to-trough decline	-0.30%	-0.19%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	0.06%	+0.23%

Volatility

DFYGX vs. PTSHX - Volatility Comparison

The current volatility for DFA Two-Year Government Portfolio (DFYGX) is 0.34%, while PIMCO Short Term Fund (PTSHX) has a volatility of 0.39%. This indicates that DFYGX experiences smaller price fluctuations and is considered to be less risky than PTSHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFYGX	PTSHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.34%	0.39%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	0.54%	1.02%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	1.26%	1.44%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.24%	1.40%	-0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.00%	1.35%	-0.35%

DFYGX vs. PTSHX - Expense Ratio Comparison

DFYGX has a 0.17% expense ratio, which is lower than PTSHX's 0.45% expense ratio.

Dividends

DFYGX vs. PTSHX - Dividend Comparison

DFYGX's dividend yield for the trailing twelve months is around 2.80%, less than PTSHX's 4.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFYGX DFA Two-Year Government Portfolio	2.80%	2.04%	4.84%	3.07%	1.14%	0.00%	0.27%	1.87%	1.82%	1.01%	0.58%	0.49%
PTSHX PIMCO Short Term Fund	4.43%	4.75%	5.16%	4.51%	2.80%	0.63%	1.78%	2.92%	2.65%	1.69%	1.67%	1.57%

Frequently Asked Questions

Can I hold both DFYGX and PTSHX in my portfolio?

DFYGX and PTSHX have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFYGX or PTSHX?

PTSHX has higher volatility (0.39%) compared to DFYGX (0.34%). In terms of maximum drawdown, DFYGX dropped -4.46% vs PTSHX's -5.12%.

Which has better risk-adjusted returns?

PTSHX currently has the higher Sharpe Ratio (3.42 vs 2.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.