PFIAX vs. VISTX

Last updated Jul 25, 2026

PFIAX (PIMCO Low Duration Income Fund Class A) and VISTX (Vanguard Institutional Short-Term Bond Fund) are both Short-Term Bond funds. Over the past 10 years, PFIAX returned 4.06%/yr vs 2.44%/yr for VISTX. At a 0.36 correlation, their price movements are largely independent. PFIAX charges 0.93%/yr vs 0.02%/yr for VISTX.

Performance

PFIAX vs. VISTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Low Duration Income Fund Class A (PFIAX) and Vanguard Institutional Short-Term Bond Fund (VISTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFIAX achieves a 0.68% return, which is significantly lower than VISTX's 0.95% return. Over the past 10 years, PFIAX has outperformed VISTX with an annualized return of 4.06%, while VISTX has yielded a comparatively lower 2.44% annualized return.

PFIAX

• 1D: -0.24%
• 1M: -0.73%
• 6M: 0.56%
• YTD: 0.68%
• 1Y: 5.07%
• 3Y*: 6.37%
• 5Y*: 3.54%
• 10Y*: 4.06%
• ALL TIME*: 1.05%

VISTX

• 1D: -0.08%
• 1M: -0.01%
• 6M: 0.80%
• YTD: 0.95%
• 1Y: 3.57%
• 3Y*: 5.13%
• 5Y*: 2.53%
• 10Y*: 2.44%
• ALL TIME*: 2.46%

*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)
PFIAX PIMCO Low Duration Income Fund Class A	$0.00	$0.00	$0.00
VISTX Vanguard Institutional Short-Term Bond Fund	$0.00	$0.00	$0.00

PFIAX vs. VISTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFIAX PIMCO Low Duration Income Fund Class A	0.68%	9.13%	6.11%	7.29%	-5.60%	1.96%	4.39%	6.28%	1.16%	5.63%
VISTX Vanguard Institutional Short-Term Bond Fund	0.95%	5.68%	5.56%	4.98%	-3.73%	-0.04%	3.92%	4.20%	1.83%	1.42%

Correlation

The correlation between PFIAX and VISTX is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.36

The correlation between PFIAX and VISTX shifts across timeframes, from 0.36 (all time) to 0.59 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PFIAX vs. VISTX — Risk / Return Rank

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

PFIAX

PFIAX Risk / Return Rank: 81
PFIAX Sharpe Ratio Rank: 82
PFIAX Sortino Ratio Rank: 86
PFIAX Omega Ratio Rank: 87
PFIAX Calmar Ratio Rank: 73
PFIAX Martin Ratio Rank: 79

VISTX

VISTX Risk / Return Rank: 95
VISTX Sharpe Ratio Rank: 95
VISTX Sortino Ratio Rank: 95
VISTX Omega Ratio Rank: 93
VISTX Calmar Ratio Rank: 94
VISTX Martin Ratio Rank: 96

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.

PFIAX vs. VISTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Low Duration Income Fund Class A (PFIAX) and Vanguard Institutional Short-Term Bond Fund (VISTX). 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.

	PFIAX	VISTX	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.67	-0.76
Sortino ratio: Return per unit of downside risk	3.00	4.24	-1.23
Omega ratio: Gain probability vs. loss probability	1.42	1.59	-0.17
Calmar ratio: Return relative to maximum drawdown	2.37	4.16	-1.79
Martin ratio: Return relative to average drawdown	9.66	17.24	-7.58

PFIAX vs. VISTX - Sharpe Ratio Comparison

The current PFIAX Sharpe Ratio is 1.91, which is comparable to the VISTX Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of PFIAX and VISTX, 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

PFIAX vs. VISTX - Drawdown Comparison

The maximum PFIAX drawdown since its inception was -36.19%, which is greater than VISTX's maximum drawdown of -5.64%. Use the drawdown chart below to compare losses from any high point for PFIAX and VISTX.

Drawdown Indicators

	PFIAX	VISTX	Difference
Max Drawdown Largest peak-to-trough decline	-36.19%	-5.64%	-30.55%
Max Drawdown (1Y) Largest decline over 1 year	-2.16%	-0.86%	-1.30%
Max Drawdown (3Y) Largest decline over 3 years	-2.30%	-0.86%	-1.44%
Max Drawdown (5Y) Largest decline over 5 years	-9.04%	-5.64%	-3.40%
Max Drawdown (10Y) Largest decline over 10 years	-11.75%	-5.64%	-6.11%
Current Drawdown Current decline from peak	-1.09%	-0.30%	-0.79%
Average Drawdown Average peak-to-trough decline	-10.05%	-0.68%	-9.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	0.21%	+0.32%

Volatility

PFIAX vs. VISTX - Volatility Comparison

PIMCO Low Duration Income Fund Class A (PFIAX) has a higher volatility of 0.70% compared to Vanguard Institutional Short-Term Bond Fund (VISTX) at 0.37%. This indicates that PFIAX's price experiences larger fluctuations and is considered to be riskier than VISTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFIAX	VISTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	0.37%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	2.18%	1.00%	+1.18%
Volatility (1Y) Calculated over the trailing 1-year period	2.68%	1.35%	+1.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.14%	1.88%	+1.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.08%	1.48%	+1.60%

PFIAX vs. VISTX - Expense Ratio Comparison

PFIAX has a 0.93% expense ratio, which is higher than VISTX's 0.02% expense ratio.

Dividends

PFIAX vs. VISTX - Dividend Comparison

PFIAX's dividend yield for the trailing twelve months is around 4.86%, more than VISTX's 4.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PFIAX PIMCO Low Duration Income Fund Class A	4.86%	5.09%	4.93%	4.53%	5.01%	2.65%	3.03%	4.33%	2.82%	2.74%	3.37%	4.55%
VISTX Vanguard Institutional Short-Term Bond Fund	4.46%	4.53%	5.03%	3.91%	1.76%	1.85%	2.33%	2.72%	2.32%	1.78%	1.51%	0.00%

Frequently Asked Questions

Can I hold both PFIAX and VISTX in my portfolio?

PFIAX and VISTX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFIAX or VISTX?

PFIAX has higher volatility (0.70%) compared to VISTX (0.37%). In terms of maximum drawdown, PFIAX dropped -36.19% vs VISTX's -5.64%.

Which has better risk-adjusted returns?

VISTX currently has the higher Sharpe Ratio (2.67 vs 1.91), 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.