PGBIX vs. VMFXX

Last updated Apr 3, 2026

Compare and contrast key facts about PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I (PGBIX) and Vanguard Federal Money Market Fund (VMFXX).

PGBIX is an actively managed fund by PIMCO. It was launched on Feb 25, 1998. VMFXX is managed by Vanguard. It was launched on Sep 1, 2010.

Performance

PGBIX vs. VMFXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I (PGBIX) and Vanguard Federal Money Market Fund (VMFXX). The values are adjusted to include any dividend payments, if applicable.

PGBIX vs. VMFXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PGBIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I	-2.17%	8.61%	4.38%	6.94%	-5.74%	-0.56%
VMFXX Vanguard Federal Money Market Fund	0.59%	4.24%	1.64%	4.64%	0.00%	0.00%

Returns By Period

In the year-to-date period, PGBIX achieves a -2.17% return, which is significantly lower than VMFXX's 0.59% return.

PGBIX

• 1D: 0.31%
• 1M: -1.95%
• YTD: -2.17%
• 6M: -0.92%
• 1Y: 3.46%
• 3Y*: 5.18%
• 5Y*: 2.22%
• 10Y*: 3.21%

VMFXX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.59%
• 6M: 1.58%
• 1Y: 3.75%
• 3Y*: 3.32%
• 5Y*: —
• 10Y*: —

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

PGBIX vs. VMFXX - Expense Ratio Comparison

PGBIX has a 0.55% expense ratio, which is higher than VMFXX's 0.00% expense ratio.

PGBIX

PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I

VMFXX

Vanguard Federal Money Market Fund

Return for Risk

PGBIX vs. VMFXX — Risk / Return Rank

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

PGBIX

PGBIX Risk / Return Rank: 27
PGBIX Sharpe Ratio Rank: 33
PGBIX Sortino Ratio Rank: 28
PGBIX Omega Ratio Rank: 26
PGBIX Calmar Ratio Rank: 22
PGBIX Martin Ratio Rank: 28

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.

PGBIX vs. VMFXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I (PGBIX) and Vanguard Federal Money Market Fund (VMFXX). 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.

	PGBIX	VMFXX	Difference
Sharpe ratio Return per unit of total volatility	0.88	3.51	-2.63
Sortino ratio Return per unit of downside risk	1.21	—	—
Omega ratio Gain probability vs. loss probability	1.17	—	—
Calmar ratio Return relative to maximum drawdown	0.95	—	—
Martin ratio Return relative to average drawdown	4.00	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGBIX vs. VMFXX - Sharpe Ratio Comparison

The current PGBIX Sharpe Ratio is 0.88, which is lower than the VMFXX Sharpe Ratio of 3.51. The chart below compares the historical Sharpe Ratios of PGBIX and VMFXX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PGBIX	VMFXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	3.51	-2.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.09	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	2.51	-1.52

Correlation

The correlation between PGBIX and VMFXX is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PGBIX vs. VMFXX - Dividend Comparison

PGBIX's dividend yield for the trailing twelve months is around 4.65%, more than VMFXX's 3.68% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PGBIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I	4.65%	4.79%	4.07%	2.33%	7.55%	2.95%	2.24%	4.10%	2.14%	3.09%	2.58%	5.81%
VMFXX Vanguard Federal Money Market Fund	3.68%	4.14%	1.63%	4.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PGBIX vs. VMFXX - Drawdown Comparison

The maximum PGBIX drawdown since its inception was -14.22%, which is greater than VMFXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for PGBIX and VMFXX.

Drawdown Indicators

	PGBIX	VMFXX	Difference
Max Drawdown Largest peak-to-trough decline	-14.22%	0.00%	-14.22%
Max Drawdown (1Y) Largest decline over 1 year	-4.25%	0.00%	-4.25%
Max Drawdown (5Y) Largest decline over 5 years	-9.56%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-9.98%	—	—
Current Drawdown Current decline from peak	-3.14%	0.00%	-3.14%
Average Drawdown Average peak-to-trough decline	-2.15%	0.00%	-2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	0.00%	+1.01%

Volatility

PGBIX vs. VMFXX - Volatility Comparison

PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I (PGBIX) has a higher volatility of 2.24% compared to Vanguard Federal Money Market Fund (VMFXX) at 0.00%. This indicates that PGBIX's price experiences larger fluctuations and is considered to be riskier than VMFXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGBIX	VMFXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.24%	0.00%	+2.24%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	0.77%	+2.16%
Volatility (1Y) Calculated over the trailing 1-year period	3.97%	1.11%	+2.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.28%	0.93%	+2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.95%	0.93%	+2.02%