PBBBX vs. PMTGX
PBBBX (PIA BBB Bond Fund) and PMTGX (PIA MBS Bond Fund) are both mutual funds - PBBBX is a Corporate Bonds fund managed by PIA Mutual Funds, while PMTGX is a Government Bonds fund managed by PIA Mutual Funds. Over the past 10 years, PBBBX returned 2.44%/yr vs 1.00%/yr for PMTGX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. PBBBX charges 0.15%/yr vs 0.23%/yr for PMTGX.
Performance
PBBBX vs. PMTGX - Performance Comparison
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Returns By Period
In the year-to-date period, PBBBX achieves a -1.23% return, which is significantly lower than PMTGX's -0.80% return. Over the past 10 years, PBBBX has outperformed PMTGX with an annualized return of 2.44%, while PMTGX has yielded a comparatively lower 1.00% annualized return.
PBBBX
- 1D
- -0.24%
- 1M
- -1.36%
- 6M
- -1.52%
- YTD
- -1.23%
- 1Y
- 1.56%
- 3Y*
- 4.79%
- 5Y*
- -0.26%
- 10Y*
- 2.44%
- ALL TIME*
- 4.11%
PMTGX
- 1D
- -0.24%
- 1M
- -0.86%
- 6M
- -1.39%
- YTD
- -0.80%
- 1Y
- 2.88%
- 3Y*
- 3.61%
- 5Y*
- -0.11%
- 10Y*
- 1.00%
- ALL TIME*
- 2.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
PBBBX PIA BBB Bond Fund | $0.00 | $0.00 | $0.00 |
PMTGX PIA MBS Bond Fund | $0.00 | $0.00 | $0.00 |
PBBBX vs. PMTGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBBBX PIA BBB Bond Fund | -1.23% | 8.14% | 2.41% | 9.19% | -16.35% | -1.20% | 9.37% | 16.49% | -3.02% | 7.16% |
PMTGX PIA MBS Bond Fund | -0.80% | 7.83% | 0.96% | 4.73% | -11.37% | -1.18% | 3.85% | 6.02% | 0.76% | 2.35% |
Correlation
The correlation between PBBBX and PMTGX is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2006 | 0.77 |
The correlation between PBBBX and PMTGX shifts across timeframes, from 0.77 (all time) to 0.91 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PBBBX vs. PMTGX — Risk / Return Rank
PBBBX
PMTGX
PBBBX vs. PMTGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIA BBB Bond Fund (PBBBX) and PIA MBS Bond Fund (PMTGX). 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.
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.
| PBBBX | PMTGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.15 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.73 | 0.99 | -0.27 |
| Martin ratioReturn relative to average drawdown | 1.87 | 2.51 | -0.64 |
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Drawdowns
PBBBX vs. PMTGX - Drawdown Comparison
The maximum PBBBX drawdown since its inception was -23.00%, which is greater than PMTGX's maximum drawdown of -17.09%. Use the drawdown chart below to compare losses from any high point for PBBBX and PMTGX.
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Drawdown Indicators
| PBBBX | PMTGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.00% | -17.09% | -5.91% |
Max Drawdown (1Y)Largest decline over 1 year | -3.30% | -3.68% | +0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -5.26% | -6.47% | +1.21% |
Max Drawdown (5Y)Largest decline over 5 years | -22.94% | -16.77% | -6.17% |
Max Drawdown (10Y)Largest decline over 10 years | -23.00% | -17.09% | -5.91% |
Current DrawdownCurrent decline from peak | -2.82% | -2.93% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -2.13% | -1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 1.45% | -0.17% |
Volatility
PBBBX vs. PMTGX - Volatility Comparison
The current volatility for PIA BBB Bond Fund (PBBBX) is 1.01%, while PIA MBS Bond Fund (PMTGX) has a volatility of 1.30%. This indicates that PBBBX experiences smaller price fluctuations and is considered to be less risky than PMTGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBBBX | PMTGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 1.30% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 3.19% | 3.43% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.07% | 4.34% | -0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.67% | 6.33% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.02% | 4.79% | +1.23% |
PBBBX vs. PMTGX - Expense Ratio Comparison
PBBBX has a 0.15% expense ratio, which is lower than PMTGX's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PBBBX vs. PMTGX - Dividend Comparison
PBBBX's dividend yield for the trailing twelve months is around 3.52%, which matches PMTGX's 3.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBBBX PIA BBB Bond Fund | 3.52% | 4.02% | 3.82% | 3.57% | 3.24% | 2.85% | 3.16% | 3.78% | 4.20% | 3.75% | 3.95% | 4.12% |
PMTGX PIA MBS Bond Fund | 3.53% | 4.10% | 4.16% | 3.48% | 2.17% | 0.79% | 2.12% | 2.96% | 2.76% | 2.75% | 2.96% | 2.79% |
Frequently Asked Questions
PBBBX and PMTGX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMTGX has higher volatility (1.30%) compared to PBBBX (1.01%). In terms of maximum drawdown, PBBBX dropped -23.00% vs PMTGX's -17.09%.
PMTGX currently has the higher Sharpe Ratio (0.84 vs 0.59), 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.
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