PMTGX vs. LTUSX
PMTGX (PIA MBS Bond Fund) and LTUSX (Thornburg Limited Term U.S. Government Fund) are both Government Bonds funds. Over the past 10 years, PMTGX returned 1.14%/yr vs 0.97%/yr for LTUSX. A 0.80 correlation means they provide meaningful diversification when combined. PMTGX charges 0.23%/yr vs 0.92%/yr for LTUSX.
Performance
PMTGX vs. LTUSX - Performance Comparison
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Returns By Period
In the year-to-date period, PMTGX achieves a 0.06% return, which is significantly lower than LTUSX's 0.23% return. Over the past 10 years, PMTGX has outperformed LTUSX with an annualized return of 1.14%, while LTUSX has yielded a comparatively lower 0.97% annualized return.
PMTGX
- 1D
- -0.36%
- 1M
- 0.79%
- YTD
- 0.06%
- 6M
- 0.23%
- 1Y
- 4.78%
- 3Y*
- 3.74%
- 5Y*
- 0.21%
- 10Y*
- 1.14%
LTUSX
- 1D
- -0.16%
- 1M
- 0.17%
- YTD
- 0.23%
- 6M
- 0.37%
- 1Y
- 3.68%
- 3Y*
- 3.62%
- 5Y*
- 0.68%
- 10Y*
- 0.97%
PMTGX vs. LTUSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMTGX PIA MBS Bond Fund | 0.06% | 7.83% | 0.96% | 4.73% | -11.37% | -1.18% | 3.85% | 6.02% | 0.76% | 2.35% |
LTUSX Thornburg Limited Term U.S. Government Fund | 0.23% | 6.40% | 2.40% | 3.40% | -8.06% | -1.82% | 3.77% | 3.61% | 0.98% | 0.60% |
Correlation
The correlation between PMTGX and LTUSX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2006 | 0.80 |
The correlation between PMTGX and LTUSX has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.
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Return for Risk
PMTGX vs. LTUSX — Risk / Return Rank
PMTGX
LTUSX
PMTGX vs. LTUSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIA MBS Bond Fund (PMTGX) and Thornburg Limited Term U.S. Government Fund (LTUSX). 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.
| PMTGX | LTUSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.24 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 1.67 | -0.26 |
| Martin ratioReturn relative to average drawdown | 4.22 | 4.53 | -0.31 |
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Drawdowns
PMTGX vs. LTUSX - Drawdown Comparison
The maximum PMTGX drawdown since its inception was -17.09%, which is greater than LTUSX's maximum drawdown of -12.34%. Use the drawdown chart below to compare losses from any high point for PMTGX and LTUSX.
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Drawdown Indicators
| PMTGX | LTUSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.09% | -12.34% | -4.75% |
Max Drawdown (1Y)Largest decline over 1 year | -3.68% | -2.31% | -1.37% |
Max Drawdown (3Y)Largest decline over 3 years | -7.66% | -3.69% | -3.97% |
Max Drawdown (5Y)Largest decline over 5 years | -16.86% | -11.69% | -5.17% |
Max Drawdown (10Y)Largest decline over 10 years | -17.09% | -12.34% | -4.75% |
Current DrawdownCurrent decline from peak | -2.09% | -1.74% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -2.13% | -1.40% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 0.85% | +0.37% |
Volatility
PMTGX vs. LTUSX - Volatility Comparison
PIA MBS Bond Fund (PMTGX) has a higher volatility of 1.15% compared to Thornburg Limited Term U.S. Government Fund (LTUSX) at 0.93%. This indicates that PMTGX's price experiences larger fluctuations and is considered to be riskier than LTUSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMTGX | LTUSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 0.93% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 3.26% | 2.14% | +1.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.33% | 2.91% | +1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.30% | 4.03% | +2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.78% | 3.09% | +1.69% |
PMTGX vs. LTUSX - Expense Ratio Comparison
PMTGX has a 0.23% expense ratio, which is lower than LTUSX's 0.92% expense ratio.
Dividends
PMTGX vs. LTUSX - Dividend Comparison
PMTGX's dividend yield for the trailing twelve months is around 3.73%, more than LTUSX's 2.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTUSX Thornburg Limited Term U.S. Government Fund | 2.64% | 2.69% | 2.62% | 1.89% | 1.63% | 1.21% | 1.35% | 1.77% | 1.90% | 1.45% | 2.52% | 1.50% |
PMTGX PIA MBS Bond Fund | 3.73% | 4.10% | 4.16% | 3.48% | 2.17% | 0.79% | 2.12% | 2.96% | 2.76% | 2.75% | 2.96% | 2.79% |
Frequently Asked Questions
PMTGX and LTUSX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMTGX has higher volatility (1.15%) compared to LTUSX (0.93%). In terms of maximum drawdown, PMTGX dropped -17.09% vs LTUSX's -12.34%.
LTUSX currently has the higher Sharpe Ratio (1.33 vs 1.20), 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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