PCEWX vs. VICBX
PCEWX (PIMCO Climate Bond Fund) and VICBX (Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares) are both Corporate Bonds funds. Over the past 5 years, PCEWX returned 0.34%/yr vs 0.75%/yr for VICBX. Their correlation of 0.87 means they have usually moved in the same direction. PCEWX charges 0.71%/yr vs 0.05%/yr for VICBX.
Performance
PCEWX vs. VICBX - Performance Comparison
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Returns By Period
In the year-to-date period, PCEWX achieves a -0.41% return, which is significantly higher than VICBX's -0.45% return.
PCEWX
- 1D
- 0.00%
- 1M
- -1.12%
- 6M
- -0.88%
- YTD
- -0.41%
- 1Y
- 0.53%
- 3Y*
- 4.57%
- 5Y*
- 0.34%
- 10Y*
- —
- ALL TIME*
- 1.36%
VICBX
- 1D
- 0.15%
- 1M
- -1.02%
- 6M
- -0.67%
- YTD
- -0.45%
- 1Y
- 2.43%
- 3Y*
- 5.78%
- 5Y*
- 0.75%
- 10Y*
- 2.89%
- ALL TIME*
- 4.39%
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 |
PCEWX vs. VICBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PCEWX PIMCO Climate Bond Fund | -0.41% | 5.87% | 3.47% | 8.17% | -13.18% | 0.11% | 6.61% | -0.00% |
VICBX Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares | -0.45% | 9.37% | 3.67% | 8.87% | -14.06% | -1.50% | 9.57% | 0.28% |
Correlation
The correlation between PCEWX and VICBX is 0.79, 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. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.85 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2019 | 0.87 |
The correlation between PCEWX and VICBX has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.
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Return for Risk
PCEWX vs. VICBX — Risk / Return Rank
PCEWX
VICBX
PCEWX vs. VICBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Climate Bond Fund (PCEWX) and Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares (VICBX). 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.
| PCEWX | VICBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.15 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 1.11 | -0.70 |
| Martin ratioReturn relative to average drawdown | 1.08 | 3.13 | -2.05 |
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Drawdowns
PCEWX vs. VICBX - Drawdown Comparison
The maximum PCEWX drawdown since its inception was -17.54%, smaller than the maximum VICBX drawdown of -20.55%. Use the drawdown chart below to compare losses from any high point for PCEWX and VICBX.
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Drawdown Indicators
| PCEWX | VICBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.54% | -20.55% | +3.01% |
Max Drawdown (1Y)Largest decline over 1 year | -3.39% | -2.95% | -0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -3.39% | -5.21% | +1.82% |
Max Drawdown (5Y)Largest decline over 5 years | -17.54% | -20.47% | +2.93% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.55% | — |
Current DrawdownCurrent decline from peak | -2.09% | -1.97% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -4.85% | -3.12% | -1.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 1.04% | +0.24% |
Volatility
PCEWX vs. VICBX - Volatility Comparison
The current volatility for PIMCO Climate Bond Fund (PCEWX) is 0.86%, while Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares (VICBX) has a volatility of 1.03%. This indicates that PCEWX experiences smaller price fluctuations and is considered to be less risky than VICBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCEWX | VICBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 1.03% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 3.09% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 3.89% | -0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.38% | 6.17% | -1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.46% | 5.34% | -0.88% |
PCEWX vs. VICBX - Expense Ratio Comparison
PCEWX has a 0.71% expense ratio, which is higher than VICBX's 0.05% expense ratio.
Dividends
PCEWX vs. VICBX - Dividend Comparison
PCEWX's dividend yield for the trailing twelve months is around 3.04%, less than VICBX's 4.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCEWX PIMCO Climate Bond Fund | 3.04% | 3.34% | 3.52% | 2.53% | 5.55% | 2.56% | 2.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VICBX Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares | 4.44% | 4.61% | 4.79% | 3.72% | 3.02% | 2.82% | 2.79% | 5.01% | 3.64% | 3.23% | 3.32% | 3.39% |
Frequently Asked Questions
PCEWX and VICBX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VICBX has higher volatility (1.03%) compared to PCEWX (0.86%). In terms of maximum drawdown, PCEWX dropped -17.54% vs VICBX's -20.55%.
VICBX currently has the higher Sharpe Ratio (0.84 vs 0.41), 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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