LTUSX vs. PDMIX

Last updated Jun 4, 2026

LTUSX (Thornburg Limited Term U.S. Government Fund) and PDMIX (PIMCO GNMA and Government Securities Fund) are both Government Bonds funds. Over the past 10 years, LTUSX returned 1.02%/yr vs 1.56%/yr for PDMIX. A 0.79 correlation means they provide meaningful diversification when combined. LTUSX charges 0.92%/yr vs 0.50%/yr for PDMIX.

Performance

LTUSX vs. PDMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thornburg Limited Term U.S. Government Fund (LTUSX) and PIMCO GNMA and Government Securities Fund (PDMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LTUSX achieves a 0.47% return, which is significantly lower than PDMIX's 1.23% return. Over the past 10 years, LTUSX has underperformed PDMIX with an annualized return of 1.02%, while PDMIX has yielded a comparatively higher 1.56% annualized return.

LTUSX

• 1D: 0.00%
• 1M: 0.17%
• YTD: 0.47%
• 6M: 0.45%
• 1Y: 4.63%
• 3Y*: 3.65%
• 5Y*: 0.68%
• 10Y*: 1.02%

PDMIX

• 1D: 0.00%
• 1M: 0.34%
• YTD: 1.23%
• 6M: 1.21%
• 1Y: 7.10%
• 3Y*: 4.86%
• 5Y*: 0.32%
• 10Y*: 1.56%

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

LTUSX vs. PDMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LTUSX Thornburg Limited Term U.S. Government Fund	0.47%	6.40%	2.40%	3.40%	-8.06%	-1.82%	3.77%	3.61%	0.98%	0.60%
PDMIX PIMCO GNMA and Government Securities Fund	1.23%	8.43%	1.59%	6.03%	-13.96%	-0.65%	5.78%	6.57%	0.83%	2.06%

Correlation

The correlation between LTUSX and PDMIX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Aug 1, 1997	0.79

The correlation between LTUSX and PDMIX shifts across timeframes, from 0.79 (all time) to 0.92 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

LTUSX vs. PDMIX — Risk / Return Rank

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

LTUSX

LTUSX Risk / Return Rank: 27
LTUSX Sharpe Ratio Rank: 28
LTUSX Sortino Ratio Rank: 30
LTUSX Omega Ratio Rank: 28
LTUSX Calmar Ratio Rank: 27
LTUSX Martin Ratio Rank: 23

PDMIX

PDMIX Risk / Return Rank: 33
PDMIX Sharpe Ratio Rank: 31
PDMIX Sortino Ratio Rank: 34
PDMIX Omega Ratio Rank: 33
PDMIX Calmar Ratio Rank: 34
PDMIX Martin Ratio Rank: 33

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.

LTUSX vs. PDMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thornburg Limited Term U.S. Government Fund (LTUSX) and PIMCO GNMA and Government Securities Fund (PDMIX). 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.

	LTUSX	PDMIX	Difference
Sharpe ratio Return per unit of total volatility	1.53	1.61	-0.08
Sortino ratio Return per unit of downside risk	2.28	2.43	-0.15
Omega ratio Gain probability vs. loss probability	1.28	1.30	-0.02
Calmar ratio Return relative to maximum drawdown	1.94	2.21	-0.27
Martin ratio Return relative to average drawdown	5.84	7.55	-1.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LTUSX vs. PDMIX - Sharpe Ratio Comparison

The current LTUSX Sharpe Ratio is 1.53, which is comparable to the PDMIX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of LTUSX and PDMIX, 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

	LTUSX	PDMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	1.61	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	0.05	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.31	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	1.03	+0.11

Drawdowns

LTUSX vs. PDMIX - Drawdown Comparison

The maximum LTUSX drawdown since its inception was -12.34%, smaller than the maximum PDMIX drawdown of -18.64%. Use the drawdown chart below to compare losses from any high point for LTUSX and PDMIX.

Drawdown Indicators

	LTUSX	PDMIX	Difference
Max Drawdown Largest peak-to-trough decline	-12.34%	-18.64%	+6.30%
Max Drawdown (1Y) Largest decline over 1 year	-2.31%	-3.24%	+0.93%
Max Drawdown (3Y) Largest decline over 3 years	-3.69%	-7.13%	+3.44%
Max Drawdown (5Y) Largest decline over 5 years	-11.69%	-18.59%	+6.90%
Max Drawdown (10Y) Largest decline over 10 years	-12.34%	-18.64%	+6.30%
Current Drawdown Current decline from peak	-1.50%	-1.34%	-0.16%
Average Drawdown Average peak-to-trough decline	-1.40%	-1.75%	+0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	0.94%	-0.18%

Volatility

LTUSX vs. PDMIX - Volatility Comparison

The current volatility for Thornburg Limited Term U.S. Government Fund (LTUSX) is 0.95%, while PIMCO GNMA and Government Securities Fund (PDMIX) has a volatility of 1.76%. This indicates that LTUSX experiences smaller price fluctuations and is considered to be less risky than PDMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LTUSX	PDMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.95%	1.76%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	2.04%	3.27%	-1.23%
Volatility (1Y) Calculated over the trailing 1-year period	2.93%	4.46%	-1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.02%	6.66%	-2.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.08%	5.06%	-1.98%

LTUSX vs. PDMIX - Expense Ratio Comparison

LTUSX has a 0.92% expense ratio, which is higher than PDMIX's 0.50% expense ratio.

Dividends

LTUSX vs. PDMIX - Dividend Comparison

LTUSX's dividend yield for the trailing twelve months is around 2.63%, less than PDMIX's 4.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LTUSX Thornburg Limited Term U.S. Government Fund	2.63%	2.69%	2.62%	1.89%	1.63%	1.21%	1.35%	1.77%	1.90%	1.45%	2.52%	1.50%
PDMIX PIMCO GNMA and Government Securities Fund	4.30%	4.29%	4.66%	3.76%	3.84%	2.03%	2.40%	3.41%	3.10%	2.96%	2.93%	2.14%

Frequently Asked Questions

Can I hold both LTUSX and PDMIX in my portfolio?

LTUSX and PDMIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LTUSX or PDMIX?

PDMIX has higher volatility (1.76%) compared to LTUSX (0.95%). In terms of maximum drawdown, LTUSX dropped -12.34% vs PDMIX's -18.64%.

Which has better risk-adjusted returns?

PDMIX currently has the higher Sharpe Ratio (1.61 vs 1.53), 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.