PGOVX vs. VEDTX

Last updated Jun 26, 2026

PGOVX (PIMCO Long-Term U.S. Government Fund) and VEDTX (Vanguard Extended Duration Treasury Index Fund) are both Government Bonds funds. Over the past 10 years, PGOVX returned -1.32%/yr vs -3.27%/yr for VEDTX. With a 0.97 correlation, they move nearly in lockstep. PGOVX charges 1.05%/yr vs 0.06%/yr for VEDTX.

Performance

PGOVX vs. VEDTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Long-Term U.S. Government Fund (PGOVX) and Vanguard Extended Duration Treasury Index Fund (VEDTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGOVX achieves a 1.27% return, which is significantly lower than VEDTX's 2.84% return. Over the past 10 years, PGOVX has outperformed VEDTX with an annualized return of -1.32%, while VEDTX has yielded a comparatively lower -3.27% annualized return.

PGOVX

• 1D: 1.23%
• 1M: 2.70%
• YTD: 1.27%
• 6M: 0.90%
• 1Y: 5.19%
• 3Y*: -1.00%
• 5Y*: -5.70%
• 10Y*: -1.32%

VEDTX

• 1D: 2.10%
• 1M: 5.11%
• YTD: 2.84%
• 6M: 1.60%
• 1Y: 4.89%
• 3Y*: -4.66%
• 5Y*: -9.78%
• 10Y*: -3.27%

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

PGOVX vs. VEDTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGOVX PIMCO Long-Term U.S. Government Fund	1.27%	6.44%	-7.62%	1.46%	-29.39%	-4.59%	17.83%	13.44%	-2.10%	9.08%
VEDTX Vanguard Extended Duration Treasury Index Fund	2.84%	1.34%	-13.35%	2.15%	-39.40%	-6.52%	24.20%	19.16%	-3.50%	12.69%

Correlation

The correlation between PGOVX and VEDTX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Nov 20, 2007	0.97

The correlation between PGOVX and VEDTX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

PGOVX vs. VEDTX — Risk / Return Rank

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

PGOVX

PGOVX Risk / Return Rank: 9
PGOVX Sharpe Ratio Rank: 9
PGOVX Sortino Ratio Rank: 9
PGOVX Omega Ratio Rank: 8
PGOVX Calmar Ratio Rank: 9
PGOVX Martin Ratio Rank: 9

VEDTX

VEDTX Risk / Return Rank: 6
VEDTX Sharpe Ratio Rank: 6
VEDTX Sortino Ratio Rank: 6
VEDTX Omega Ratio Rank: 6
VEDTX Calmar Ratio Rank: 6
VEDTX Martin Ratio Rank: 6

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.

PGOVX vs. VEDTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Long-Term U.S. Government Fund (PGOVX) and Vanguard Extended Duration Treasury Index Fund (VEDTX). 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	VEDTX	Difference
Sharpe ratio: Return per unit of total volatility	0.58	0.35	+0.23
Sortino ratio: Return per unit of downside risk	0.89	0.61	+0.28
Omega ratio: Gain probability vs. loss probability	1.10	1.07	+0.03
Calmar ratio: Return relative to maximum drawdown	0.70	0.41	+0.29
Martin ratio: Return relative to average drawdown	1.82	0.91	+0.91

PGOVX vs. VEDTX - Sharpe Ratio Comparison

The current PGOVX Sharpe Ratio is 0.58, which is higher than the VEDTX Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of PGOVX and VEDTX, 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

PGOVX vs. VEDTX - Drawdown Comparison

The maximum PGOVX drawdown since its inception was -46.64%, smaller than the maximum VEDTX drawdown of -60.00%. Use the drawdown chart below to compare losses from any high point for PGOVX and VEDTX.

Drawdown Indicators

	PGOVX	VEDTX	Difference
Max Drawdown Largest peak-to-trough decline	-46.64%	-60.00%	+13.36%
Max Drawdown (1Y) Largest decline over 1 year	-7.60%	-12.41%	+4.81%
Max Drawdown (3Y) Largest decline over 3 years	-18.06%	-26.95%	+8.89%
Max Drawdown (5Y) Largest decline over 5 years	-41.48%	-55.15%	+13.67%
Max Drawdown (10Y) Largest decline over 10 years	-46.64%	-60.00%	+13.36%
Current Drawdown Current decline from peak	-36.97%	-52.72%	+15.75%
Average Drawdown Average peak-to-trough decline	-9.30%	-23.58%	+14.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	5.56%	-2.65%

Volatility

PGOVX vs. VEDTX - Volatility Comparison

The current volatility for PIMCO Long-Term U.S. Government Fund (PGOVX) is 2.51%, while Vanguard Extended Duration Treasury Index Fund (VEDTX) has a volatility of 3.78%. This indicates that PGOVX experiences smaller price fluctuations and is considered to be less risky than VEDTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGOVX	VEDTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.51%	3.78%	-1.27%
Volatility (6M) Calculated over the trailing 6-month period	6.66%	10.10%	-3.44%
Volatility (1Y) Calculated over the trailing 1-year period	9.14%	14.49%	-5.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.41%	21.85%	-7.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.74%	20.10%	-6.36%

PGOVX vs. VEDTX - Expense Ratio Comparison

PGOVX has a 1.05% expense ratio, which is higher than VEDTX's 0.06% expense ratio.

Dividends

PGOVX vs. VEDTX - Dividend Comparison

PGOVX's dividend yield for the trailing twelve months is around 4.06%, less than VEDTX's 4.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PGOVX PIMCO Long-Term U.S. Government Fund	4.06%	3.86%	1.19%	1.05%	2.09%	6.93%	27.91%	2.60%	3.25%	2.88%	3.31%	81.57%
VEDTX Vanguard Extended Duration Treasury Index Fund	4.81%	4.94%	4.68%	3.55%	3.30%	1.96%	5.56%	3.53%	2.94%	2.23%	5.34%	4.28%

Frequently Asked Questions

Can I hold both PGOVX and VEDTX in my portfolio?

With a correlation of 0.96, PGOVX and VEDTX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PGOVX or VEDTX?

VEDTX has higher volatility (3.78%) compared to PGOVX (2.51%). In terms of maximum drawdown, PGOVX dropped -46.64% vs VEDTX's -60.00%.

Which has better risk-adjusted returns?

PGOVX currently has the higher Sharpe Ratio (0.58 vs 0.35), 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.