PDMIX vs. FUTBX

Last updated Jul 14, 2026

PDMIX (PIMCO GNMA and Government Securities Fund) and FUTBX (Fidelity SAI U.S. Treasury Bond Index Fund) are both Government Bonds funds. Over the past 5 years, PDMIX returned 0.20%/yr vs -0.76%/yr for FUTBX. Their correlation of 0.81 suggests significant overlap in exposure. PDMIX charges 0.50%/yr vs 0.03%/yr for FUTBX.

Performance

PDMIX vs. FUTBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO GNMA and Government Securities Fund (PDMIX) and Fidelity SAI U.S. Treasury Bond Index Fund (FUTBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDMIX achieves a 0.83% return, which is significantly higher than FUTBX's -0.14% return.

PDMIX

• 1D: -0.11%
• 1M: -0.39%
• 6M: 0.41%
• YTD: 0.83%
• 1Y: 5.38%
• 3Y*: 4.98%
• 5Y*: 0.20%
• 10Y*: 1.48%

FUTBX

• 1D: 0.00%
• 1M: -0.21%
• 6M: -0.14%
• YTD: -0.14%
• 1Y: 3.11%
• 3Y*: 3.25%
• 5Y*: -0.76%
• 10Y*: —

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

PDMIX vs. FUTBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PDMIX PIMCO GNMA and Government Securities Fund	0.83%	8.43%	1.59%	6.03%	-13.96%	-0.65%	5.78%	6.57%	0.83%	2.06%
FUTBX Fidelity SAI U.S. Treasury Bond Index Fund	-0.14%	6.12%	0.70%	4.19%	-13.00%	-2.54%	7.76%	7.30%	0.95%	2.28%

Correlation

The correlation between PDMIX and FUTBX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.81

The correlation between PDMIX and FUTBX shifts across timeframes, from 0.81 (all time) to 0.93 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PDMIX vs. FUTBX — Risk / Return Rank

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

PDMIX

PDMIX Risk / Return Rank: 29
PDMIX Sharpe Ratio Rank: 29
PDMIX Sortino Ratio Rank: 29
PDMIX Omega Ratio Rank: 28
PDMIX Calmar Ratio Rank: 29
PDMIX Martin Ratio Rank: 28

FUTBX

FUTBX Risk / Return Rank: 12
FUTBX Sharpe Ratio Rank: 13
FUTBX Sortino Ratio Rank: 13
FUTBX Omega Ratio Rank: 11
FUTBX Calmar Ratio Rank: 13
FUTBX Martin Ratio Rank: 12

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.

PDMIX vs. FUTBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO GNMA and Government Securities Fund (PDMIX) and Fidelity SAI U.S. Treasury Bond Index Fund (FUTBX). 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.

	PDMIX	FUTBX	Difference
Sharpe ratio: Return per unit of total volatility	1.16	0.71	+0.45
Sortino ratio: Return per unit of downside risk	1.72	1.05	+0.67
Omega ratio: Gain probability vs. loss probability	1.21	1.12	+0.09
Calmar ratio: Return relative to maximum drawdown	1.57	0.86	+0.70
Martin ratio: Return relative to average drawdown	4.93	2.26	+2.67

PDMIX vs. FUTBX - Sharpe Ratio Comparison

The current PDMIX Sharpe Ratio is 1.16, which is higher than the FUTBX Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of PDMIX and FUTBX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PDMIX vs. FUTBX - Drawdown Comparison

The maximum PDMIX drawdown since its inception was -18.64%, smaller than the maximum FUTBX drawdown of -19.69%. Use the drawdown chart below to compare losses from any high point for PDMIX and FUTBX.

Drawdown Indicators

	PDMIX	FUTBX	Difference
Max Drawdown Largest peak-to-trough decline	-18.64%	-19.69%	+1.05%
Max Drawdown (1Y) Largest decline over 1 year	-3.24%	-3.09%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	-7.13%	-5.42%	-1.71%
Max Drawdown (5Y) Largest decline over 5 years	-18.59%	-17.03%	-1.56%
Max Drawdown (10Y) Largest decline over 10 years	-18.64%	—	—
Current Drawdown Current decline from peak	-1.73%	-7.81%	+6.08%
Average Drawdown Average peak-to-trough decline	-1.75%	-6.96%	+5.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	1.18%	-0.15%

Volatility

PDMIX vs. FUTBX - Volatility Comparison

PIMCO GNMA and Government Securities Fund (PDMIX) has a higher volatility of 1.40% compared to Fidelity SAI U.S. Treasury Bond Index Fund (FUTBX) at 1.07%. This indicates that PDMIX's price experiences larger fluctuations and is considered to be riskier than FUTBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDMIX	FUTBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.40%	1.07%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	3.49%	2.84%	+0.65%
Volatility (1Y) Calculated over the trailing 1-year period	4.40%	3.76%	+0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.69%	5.81%	+0.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.08%	5.14%	-0.06%

PDMIX vs. FUTBX - Expense Ratio Comparison

PDMIX has a 0.50% expense ratio, which is higher than FUTBX's 0.03% expense ratio.

Dividends

PDMIX vs. FUTBX - Dividend Comparison

PDMIX's dividend yield for the trailing twelve months is around 4.32%, more than FUTBX's 3.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FUTBX Fidelity SAI U.S. Treasury Bond Index Fund	3.70%	3.43%	2.90%	2.12%	1.12%	0.86%	4.54%	2.75%	2.05%	1.65%	0.00%	0.00%
PDMIX PIMCO GNMA and Government Securities Fund	4.32%	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 PDMIX and FUTBX in my portfolio?

With a correlation of 0.91, PDMIX and FUTBX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PDMIX or FUTBX?

PDMIX has higher volatility (1.40%) compared to FUTBX (1.07%). In terms of maximum drawdown, PDMIX dropped -18.64% vs FUTBX's -19.69%.

Which has better risk-adjusted returns?

PDMIX currently has the higher Sharpe Ratio (1.16 vs 0.71), 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.