PGOVX vs. IBM
PGOVX (PIMCO Long-Term U.S. Government Fund) is Government Bonds fund managed by PIMCO, while IBM (International Business Machines Corporation) is a stock. Over the past 10 years, PGOVX returned -2.09%/yr vs 8.27%/yr for IBM. Their -0.14 correlation means they have often moved in opposite directions in the past.
Performance
PGOVX vs. IBM - Performance Comparison
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Returns By Period
In the year-to-date period, PGOVX achieves a -3.30% return, which is significantly higher than IBM's -23.51% return. Over the past 10 years, PGOVX has underperformed IBM with an annualized return of -2.09%, while IBM has yielded a comparatively higher 8.27% annualized return.
PGOVX
- 1D
- -0.08%
- 1M
- -3.42%
- 6M
- -3.39%
- YTD
- -3.30%
- 1Y
- -1.28%
- 3Y*
- -1.59%
- 5Y*
- -7.55%
- 10Y*
- -2.09%
- ALL TIME*
- 5.64%
IBM
- 1D
- 0.86%
- 1M
- -22.75%
- 6M
- -26.12%
- YTD
- -23.51%
- 1Y
- -8.27%
- 3Y*
- 19.79%
- 5Y*
- 15.08%
- 10Y*
- 8.27%
- ALL TIME*
- 7.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.40B | $3.19B | $2.85B | |
| $0.00 | $0.00 | $0.00 |
PGOVX vs. IBM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGOVX PIMCO Long-Term U.S. Government Fund | -3.30% | 6.44% | -7.62% | 1.46% | -29.39% | -4.59% | 17.83% | 13.44% | -2.10% | 9.08% |
IBM International Business Machines Corporation | -23.51% | 38.23% | 39.27% | 21.85% | 10.64% | 16.65% | -1.16% | 23.58% | -22.56% | -3.99% |
Correlation
The correlation between PGOVX and IBM is 0.15, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.15 |
Correlation (3Y) Balances recent behavior with more history. | 0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 1991 | -0.14 |
The correlation between PGOVX and IBM shifts across timeframes, from -0.14 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PGOVX vs. IBM — Risk / Return Rank
PGOVX
IBM
PGOVX vs. IBM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Long-Term U.S. Government Fund (PGOVX) and International Business Machines Corporation (IBM). 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.
| PGOVX | IBM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.01 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | -0.25 | +0.34 |
| Martin ratioReturn relative to average drawdown | 0.19 | -0.59 | +0.78 |
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Drawdowns
PGOVX vs. IBM - Drawdown Comparison
The maximum PGOVX drawdown since its inception was -46.64%, smaller than the maximum IBM drawdown of -69.40%. Use the drawdown chart below to compare losses from any high point for PGOVX and IBM.
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Drawdown Indicators
| PGOVX | IBM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.64% | -69.40% | +22.76% |
Max Drawdown (1Y)Largest decline over 1 year | -7.60% | -37.50% | +29.90% |
Max Drawdown (3Y)Largest decline over 3 years | -13.64% | -37.50% | +23.86% |
Max Drawdown (5Y)Largest decline over 5 years | -41.48% | -37.50% | -3.98% |
Max Drawdown (10Y)Largest decline over 10 years | -46.64% | -40.59% | -6.05% |
Current DrawdownCurrent decline from peak | -39.82% | -32.07% | -7.75% |
Average DrawdownAverage peak-to-trough decline | -9.39% | -20.13% | +10.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 15.98% | -12.68% |
Volatility
PGOVX vs. IBM - Volatility Comparison
The current volatility for PIMCO Long-Term U.S. Government Fund (PGOVX) is 2.36%, while International Business Machines Corporation (IBM) has a volatility of 31.22%. This indicates that PGOVX experiences smaller price fluctuations and is considered to be less risky than IBM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGOVX | IBM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 31.22% | -28.86% |
Volatility (6M)Calculated over the trailing 6-month period | 6.78% | 46.22% | -39.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.88% | 48.19% | -39.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.31% | 30.02% | -15.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.70% | 28.05% | -14.35% |
Dividends
PGOVX vs. IBM - Dividend Comparison
PGOVX's dividend yield for the trailing twelve months is around 3.99%, more than IBM's 3.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBM International Business Machines Corporation | 3.01% | 2.27% | 3.03% | 4.05% | 4.68% | 4.74% | 5.17% | 4.80% | 5.46% | 3.85% | 3.31% | 3.63% |
PGOVX PIMCO Long-Term U.S. Government Fund | 3.99% | 3.86% | 1.19% | 1.05% | 2.09% | 6.93% | 27.91% | 2.60% | 3.25% | 2.88% | 3.31% | 81.57% |
Frequently Asked Questions
PGOVX and IBM have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBM has higher volatility (31.22%) compared to PGOVX (2.36%). In terms of maximum drawdown, PGOVX dropped -46.64% vs IBM's -69.40%.
PGOVX currently has the higher Sharpe Ratio (0.07 vs -0.20), 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.
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