PDMIX vs. PRRIX

Last updated Aug 1, 2026

PDMIX (PIMCO GNMA and Government Securities Fund) and PRRIX (PIMCO Real Return Fund) are both mutual funds - PDMIX is a Government Bonds fund managed by PIMCO, while PRRIX is a Inflation-Protected Bonds fund managed by PIMCO. Over the past 10 years, PDMIX returned 1.38%/yr vs 2.52%/yr for PRRIX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. PDMIX charges 0.50%/yr vs 0.45%/yr for PRRIX.

Performance

PDMIX vs. PRRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO GNMA and Government Securities Fund (PDMIX) and PIMCO Real Return Fund (PRRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDMIX achieves a 0.08% return, which is significantly higher than PRRIX's -0.21% return. Over the past 10 years, PDMIX has underperformed PRRIX with an annualized return of 1.38%, while PRRIX has yielded a comparatively higher 2.52% annualized return.

PDMIX

• 1D: 0.00%
• 1M: -1.37%
• 6M: -0.59%
• YTD: 0.08%
• 1Y: 3.12%
• 3Y*: 4.35%
• 5Y*: -0.02%
• 10Y*: 1.38%
• ALL TIME*: 4.11%

PRRIX

• 1D: 0.00%
• 1M: -1.18%
• 6M: -0.57%
• YTD: -0.21%
• 1Y: 1.72%
• 3Y*: 3.95%
• 5Y*: 0.09%
• 10Y*: 2.52%
• ALL TIME*: 4.95%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PDMIX PIMCO GNMA and Government Securities Fund	$0.00	$0.00	$0.00
PRRIX PIMCO Real Return Fund	$0.00	$0.00	$0.00

PDMIX vs. PRRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PDMIX PIMCO GNMA and Government Securities Fund	0.08%	8.43%	1.59%	6.03%	-13.96%	-0.65%	5.78%	6.57%	0.83%	2.06%
PRRIX PIMCO Real Return Fund	-0.21%	8.19%	2.60%	3.29%	-13.27%	5.70%	12.11%	8.53%	-1.96%	4.22%

Correlation

The correlation between PDMIX and PRRIX is 0.81, 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.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (10Y) Provides a long-term view across more market conditions.	0.69
Correlation (All Time) Calculated using the full available price history since Jul 31, 1997	0.64

The correlation between PDMIX and PRRIX shifts across timeframes, from 0.64 (all time) to 0.86 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PDMIX vs. PRRIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PDMIX

PDMIX Risk / Return Rank: 31
PDMIX Sharpe Ratio Rank: 31
PDMIX Sortino Ratio Rank: 31
PDMIX Omega Ratio Rank: 31
PDMIX Calmar Ratio Rank: 32
PDMIX Martin Ratio Rank: 27

PRRIX

PRRIX Risk / Return Rank: 18
PRRIX Sharpe Ratio Rank: 16
PRRIX Sortino Ratio Rank: 16
PRRIX Omega Ratio Rank: 16
PRRIX Calmar Ratio Rank: 20
PRRIX Martin Ratio Rank: 20

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PDMIX vs. PRRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO GNMA and Government Securities Fund (PDMIX) and PIMCO Real Return Fund (PRRIX). 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	PRRIX	Difference
Sharpe ratio: Return per unit of total volatility	1.02	0.62	+0.40
Sortino ratio: Return per unit of downside risk	1.50	0.94	+0.56
Omega ratio: Gain probability vs. loss probability	1.19	1.11	+0.07
Calmar ratio: Return relative to maximum drawdown	1.40	0.91	+0.48
Martin ratio: Return relative to average drawdown	3.90	2.72	+1.18

PDMIX vs. PRRIX - Sharpe Ratio Comparison

The current PDMIX Sharpe Ratio is 1.02, which is higher than the PRRIX Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of PDMIX and PRRIX, 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. PRRIX - Drawdown Comparison

The maximum PDMIX drawdown since its inception was -18.64%, roughly equal to the maximum PRRIX drawdown of -19.25%. Use the drawdown chart below to compare losses from any high point for PDMIX and PRRIX.

Drawdown Indicators

	PDMIX	PRRIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.64%	-19.25%	+0.61%
Max Drawdown (1Y) Largest decline over 1 year	-3.24%	-2.66%	-0.58%
Max Drawdown (3Y) Largest decline over 3 years	-6.21%	-4.07%	-2.14%
Max Drawdown (5Y) Largest decline over 5 years	-18.59%	-15.76%	-2.83%
Max Drawdown (10Y) Largest decline over 10 years	-18.64%	-15.76%	-2.88%
Current Drawdown Current decline from peak	-2.46%	-1.85%	-0.61%
Average Drawdown Average peak-to-trough decline	-1.75%	-3.16%	+1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.15%	0.89%	+0.26%

Volatility

PDMIX vs. PRRIX - Volatility Comparison

PIMCO GNMA and Government Securities Fund (PDMIX) has a higher volatility of 1.34% compared to PIMCO Real Return Fund (PRRIX) at 0.84%. This indicates that PDMIX's price experiences larger fluctuations and is considered to be riskier than PRRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDMIX	PRRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.34%	0.84%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	3.61%	3.14%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	4.44%	3.94%	+0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.72%	6.26%	+0.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.09%	5.64%	-0.55%

PDMIX vs. PRRIX - Expense Ratio Comparison

PDMIX has a 0.50% expense ratio, which is higher than PRRIX's 0.45% expense ratio.

Dividends

PDMIX vs. PRRIX - Dividend Comparison

PDMIX's dividend yield for the trailing twelve months is around 4.00%, less than PRRIX's 4.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PDMIX PIMCO GNMA and Government Securities Fund	4.00%	4.29%	4.66%	3.76%	3.84%	2.03%	2.40%	3.41%	3.10%	2.96%	2.93%	2.14%
PRRIX PIMCO Real Return Fund	4.47%	3.92%	3.17%	2.83%	7.38%	5.12%	2.62%	1.91%	2.70%	2.57%	1.10%	0.99%

Frequently Asked Questions

Can I hold both PDMIX and PRRIX in my portfolio?

PDMIX and PRRIX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PDMIX or PRRIX?

PDMIX has higher volatility (1.34%) compared to PRRIX (0.84%). In terms of maximum drawdown, PDMIX dropped -18.64% vs PRRIX's -19.25%.

Which has better risk-adjusted returns?

PDMIX currently has the higher Sharpe Ratio (1.02 vs 0.62), 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.