PCDIX vs. PTTRX
PCDIX (PIMCO California Short Duration Municipal Income Fund) and PTTRX (PIMCO Total Return Fund Institutional Class) are both mutual funds - PCDIX is a Municipal Bonds fund managed by PIMCO, while PTTRX is a Intermediate Core-Plus Bond fund actively managed by PIMCO. Over the past 10 years, PCDIX returned 1.62%/yr vs 2.02%/yr for PTTRX. Their 0.37 correlation means their historical movements had little consistent relationship. PCDIX charges 0.33%/yr vs 0.53%/yr for PTTRX.
Performance
PCDIX vs. PTTRX - Performance Comparison
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Returns By Period
In the year-to-date period, PCDIX achieves a 0.54% return, which is significantly higher than PTTRX's -0.80% return. Over the past 10 years, PCDIX has underperformed PTTRX with an annualized return of 1.62%, while PTTRX has yielded a comparatively higher 2.02% annualized return.
PCDIX
- 1D
- 0.00%
- 1M
- -0.62%
- 6M
- 0.01%
- YTD
- 0.54%
- 1Y
- 2.63%
- 3Y*
- 3.62%
- 5Y*
- 1.88%
- 10Y*
- 1.62%
- ALL TIME*
- 1.67%
PTTRX
- 1D
- -0.35%
- 1M
- -1.72%
- 6M
- -1.03%
- YTD
- -0.80%
- 1Y
- 2.83%
- 3Y*
- 5.12%
- 5Y*
- 0.07%
- 10Y*
- 2.02%
- ALL TIME*
- 5.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PCDIX vs. PTTRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCDIX PIMCO California Short Duration Municipal Income Fund | 0.54% | 5.00% | 3.12% | 3.59% | -2.41% | 0.16% | 1.75% | 2.96% | 1.35% | 1.69% |
PTTRX PIMCO Total Return Fund Institutional Class | -0.80% | 9.35% | 2.62% | 6.33% | -14.72% | -0.59% | 8.88% | 8.36% | -0.24% | 5.13% |
Correlation
The correlation between PCDIX and PTTRX is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.57 |
Correlation (3Y) Balances recent behavior with more history. | 0.53 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.49 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.42 |
Correlation (All Time) Calculated using the full available price history since Sep 1, 2006 | 0.37 |
Over the past year, PCDIX and PTTRX have become more correlated (0.57) than their long-term average of 0.37, meaning their price movements have been converging.
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Return for Risk
PCDIX vs. PTTRX — Risk / Return Rank
PCDIX
PTTRX
PCDIX vs. PTTRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO California Short Duration Municipal Income Fund (PCDIX) and PIMCO Total Return Fund Institutional Class (PTTRX). 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.
| PCDIX | PTTRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.42 | ||
| Sortino ratioReturn per unit of downside risk | +2.81 | ||
| Omega ratioGain probability vs. loss probability | 1.75 | 1.15 | +0.60 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 1.03 | +1.67 |
| Martin ratioReturn relative to average drawdown | 8.57 | 2.72 | +5.84 |
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Drawdowns
PCDIX vs. PTTRX - Drawdown Comparison
The maximum PCDIX drawdown since its inception was -4.52%, smaller than the maximum PTTRX drawdown of -19.28%. Use the drawdown chart below to compare losses from any high point for PCDIX and PTTRX.
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Drawdown Indicators
| PCDIX | PTTRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.52% | -19.28% | +14.76% |
Max Drawdown (1Y)Largest decline over 1 year | -1.02% | -3.69% | +2.67% |
Max Drawdown (3Y)Largest decline over 3 years | -1.66% | -5.36% | +3.70% |
Max Drawdown (5Y)Largest decline over 5 years | -4.52% | -19.25% | +14.73% |
Max Drawdown (10Y)Largest decline over 10 years | -4.52% | -19.28% | +14.76% |
Current DrawdownCurrent decline from peak | -0.62% | -2.90% | +2.28% |
Average DrawdownAverage peak-to-trough decline | -0.43% | -2.19% | +1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | 1.39% | -1.07% |
Volatility
PCDIX vs. PTTRX - Volatility Comparison
The current volatility for PIMCO California Short Duration Municipal Income Fund (PCDIX) is 0.33%, while PIMCO Total Return Fund Institutional Class (PTTRX) has a volatility of 1.24%. This indicates that PCDIX experiences smaller price fluctuations and is considered to be less risky than PTTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCDIX | PTTRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 1.24% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 0.97% | 3.78% | -2.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.25% | 4.59% | -3.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.71% | 6.29% | -4.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.56% | 5.24% | -3.68% |
PCDIX vs. PTTRX - Expense Ratio Comparison
PCDIX has a 0.33% expense ratio, which is lower than PTTRX's 0.53% expense ratio.
Dividends
PCDIX vs. PTTRX - Dividend Comparison
PCDIX's dividend yield for the trailing twelve months is around 2.61%, less than PTTRX's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCDIX PIMCO California Short Duration Municipal Income Fund | 2.61% | 3.80% | 3.38% | 2.25% | 1.16% | 1.07% | 1.23% | 1.79% | 1.55% | 1.27% | 1.02% | 0.91% |
PTTRX PIMCO Total Return Fund Institutional Class | 4.28% | 4.47% | 4.61% | 3.81% | 3.63% | 2.59% | 6.11% | 3.96% | 3.13% | 2.63% | 3.02% | 6.64% |
Frequently Asked Questions
PCDIX and PTTRX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTTRX has higher volatility (1.24%) compared to PCDIX (0.33%). In terms of maximum drawdown, PCDIX dropped -4.52% vs PTTRX's -19.28%.
PCDIX currently has the higher Sharpe Ratio (2.25 vs 0.83), 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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