PEMIX vs. VBTLX

Last updated Jun 3, 2026

PEMIX (PIMCO Emerging Markets Corporate Bond Fund) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both mutual funds - PEMIX is a Emerging Markets Bonds fund managed by PIMCO, while VBTLX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, PEMIX returned 3.81%/yr vs 1.58%/yr for VBTLX. At a 0.45 correlation, their price movements are largely independent. PEMIX charges 0.90%/yr vs 0.05%/yr for VBTLX.

Performance

PEMIX vs. VBTLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Emerging Markets Corporate Bond Fund (PEMIX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PEMIX achieves a 1.30% return, which is significantly higher than VBTLX's 0.42% return. Over the past 10 years, PEMIX has outperformed VBTLX with an annualized return of 3.81%, while VBTLX has yielded a comparatively lower 1.58% annualized return.

PEMIX

• 1D: 0.00%
• 1M: 0.37%
• YTD: 1.30%
• 6M: 1.82%
• 1Y: 8.21%
• 3Y*: 7.56%
• 5Y*: 1.27%
• 10Y*: 3.81%

VBTLX

• 1D: -0.10%
• 1M: 0.13%
• YTD: 0.42%
• 6M: 0.45%
• 1Y: 5.34%
• 3Y*: 4.05%
• 5Y*: 0.18%
• 10Y*: 1.58%

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

PEMIX vs. VBTLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEMIX PIMCO Emerging Markets Corporate Bond Fund	1.30%	9.97%	6.32%	6.03%	-14.12%	-0.72%	5.78%	11.87%	-0.64%	9.03%
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares	0.42%	7.17%	1.26%	5.74%	-13.16%	-1.81%	7.72%	8.73%	-0.25%	3.56%

Correlation

The correlation between PEMIX and VBTLX is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jul 6, 2009	0.45

Over the past year, PEMIX and VBTLX have become more correlated (0.67) than their long-term average of 0.45, meaning their price movements have been converging.

Return for Risk

PEMIX vs. VBTLX — Risk / Return Rank

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

PEMIX

PEMIX Risk / Return Rank: 75
PEMIX Sharpe Ratio Rank: 84
PEMIX Sortino Ratio Rank: 94
PEMIX Omega Ratio Rank: 92
PEMIX Calmar Ratio Rank: 50
PEMIX Martin Ratio Rank: 56

VBTLX

VBTLX Risk / Return Rank: 20
VBTLX Sharpe Ratio Rank: 18
VBTLX Sortino Ratio Rank: 19
VBTLX Omega Ratio Rank: 17
VBTLX Calmar Ratio Rank: 25
VBTLX Martin Ratio Rank: 22

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.

PEMIX vs. VBTLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Emerging Markets Corporate Bond Fund (PEMIX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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.

	PEMIX	VBTLX	Difference
Sharpe ratio Return per unit of total volatility	2.70	1.27	+1.43
Sortino ratio Return per unit of downside risk	4.90	1.91	+2.99
Omega ratio Gain probability vs. loss probability	1.68	1.22	+0.46
Calmar ratio Return relative to maximum drawdown	2.73	1.93	+0.80
Martin ratio Return relative to average drawdown	11.42	5.84	+5.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEMIX vs. VBTLX - Sharpe Ratio Comparison

The current PEMIX Sharpe Ratio is 2.70, which is higher than the VBTLX Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of PEMIX and VBTLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PEMIX	VBTLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	1.27	+1.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.03	+0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.01	0.32	+0.69
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	0.76	+0.37

Drawdowns

PEMIX vs. VBTLX - Drawdown Comparison

The maximum PEMIX drawdown since its inception was -23.38%, which is greater than VBTLX's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for PEMIX and VBTLX.

Drawdown Indicators

	PEMIX	VBTLX	Difference
Max Drawdown Largest peak-to-trough decline	-23.38%	-18.81%	-4.57%
Max Drawdown (1Y) Largest decline over 1 year	-3.31%	-2.89%	-0.42%
Max Drawdown (3Y) Largest decline over 3 years	-3.79%	-6.00%	+2.21%
Max Drawdown (5Y) Largest decline over 5 years	-23.38%	-18.14%	-5.24%
Max Drawdown (10Y) Largest decline over 10 years	-23.38%	-18.81%	-4.57%
Current Drawdown Current decline from peak	-0.04%	-2.18%	+2.14%
Average Drawdown Average peak-to-trough decline	-4.24%	-2.67%	-1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	0.96%	-0.17%

Volatility

PEMIX vs. VBTLX - Volatility Comparison

The current volatility for PIMCO Emerging Markets Corporate Bond Fund (PEMIX) is 1.05%, while Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a volatility of 1.38%. This indicates that PEMIX experiences smaller price fluctuations and is considered to be less risky than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEMIX	VBTLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	1.38%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	2.43%	2.80%	-0.37%
Volatility (1Y) Calculated over the trailing 1-year period	3.03%	3.98%	-0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.82%	6.01%	-2.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.80%	4.98%	-1.18%

PEMIX vs. VBTLX - Expense Ratio Comparison

PEMIX has a 0.90% expense ratio, which is higher than VBTLX's 0.05% expense ratio.

Dividends

PEMIX vs. VBTLX - Dividend Comparison

PEMIX's dividend yield for the trailing twelve months is around 6.50%, more than VBTLX's 3.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEMIX PIMCO Emerging Markets Corporate Bond Fund	6.50%	6.15%	5.45%	4.08%	3.02%	3.41%	3.78%	4.55%	4.99%	4.33%	4.62%	5.32%
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares	3.98%	3.87%	3.69%	3.10%	2.59%	1.96%	2.39%	2.74%	2.57%	2.56%	2.53%	2.82%

Frequently Asked Questions

Can I hold both PEMIX and VBTLX in my portfolio?

PEMIX and VBTLX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEMIX or VBTLX?

VBTLX has higher volatility (1.38%) compared to PEMIX (1.05%). In terms of maximum drawdown, PEMIX dropped -23.38% vs VBTLX's -18.81%.

Which has better risk-adjusted returns?

PEMIX currently has the higher Sharpe Ratio (2.70 vs 1.27), 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.