PMTGX vs. PBBBX
PMTGX (PIA MBS Bond Fund) and PBBBX (PIA BBB Bond Fund) are both mutual funds - PMTGX is a Government Bonds fund managed by PIA Mutual Funds, while PBBBX is a Corporate Bonds fund managed by PIA Mutual Funds. Over the past 10 years, PMTGX returned 1.00%/yr vs 2.44%/yr for PBBBX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. PMTGX charges 0.23%/yr vs 0.15%/yr for PBBBX.
Performance
PMTGX vs. PBBBX - Performance Comparison
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Returns By Period
In the year-to-date period, PMTGX achieves a -0.80% return, which is significantly higher than PBBBX's -1.23% return. Over the past 10 years, PMTGX has underperformed PBBBX with an annualized return of 1.00%, while PBBBX has yielded a comparatively higher 2.44% annualized return.
PMTGX
- 1D
- -0.24%
- 1M
- -0.86%
- 6M
- -1.39%
- YTD
- -0.80%
- 1Y
- 2.88%
- 3Y*
- 3.61%
- 5Y*
- -0.11%
- 10Y*
- 1.00%
- ALL TIME*
- 2.83%
PBBBX
- 1D
- -0.24%
- 1M
- -1.36%
- 6M
- -1.52%
- YTD
- -1.23%
- 1Y
- 1.56%
- 3Y*
- 4.79%
- 5Y*
- -0.26%
- 10Y*
- 2.44%
- ALL TIME*
- 4.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
PBBBX PIA BBB Bond Fund | $0.00 | $0.00 | $0.00 |
PMTGX PIA MBS Bond Fund | $0.00 | $0.00 | $0.00 |
PMTGX vs. PBBBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMTGX PIA MBS Bond Fund | -0.80% | 7.83% | 0.96% | 4.73% | -11.37% | -1.18% | 3.85% | 6.02% | 0.76% | 2.35% |
PBBBX PIA BBB Bond Fund | -1.23% | 8.14% | 2.41% | 9.19% | -16.35% | -1.20% | 9.37% | 16.49% | -3.02% | 7.16% |
Correlation
The correlation between PMTGX and PBBBX is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2006 | 0.77 |
The correlation between PMTGX and PBBBX shifts across timeframes, from 0.77 (all time) to 0.91 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PMTGX vs. PBBBX — Risk / Return Rank
PMTGX
PBBBX
PMTGX vs. PBBBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIA MBS Bond Fund (PMTGX) and PIA BBB Bond Fund (PBBBX). 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 | PBBBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.10 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | 0.73 | +0.27 |
| Martin ratioReturn relative to average drawdown | 2.51 | 1.87 | +0.64 |
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Drawdowns
PMTGX vs. PBBBX - Drawdown Comparison
The maximum PMTGX drawdown since its inception was -17.09%, smaller than the maximum PBBBX drawdown of -23.00%. Use the drawdown chart below to compare losses from any high point for PMTGX and PBBBX.
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Drawdown Indicators
| PMTGX | PBBBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.09% | -23.00% | +5.91% |
Max Drawdown (1Y)Largest decline over 1 year | -3.68% | -3.30% | -0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -6.47% | -5.26% | -1.21% |
Max Drawdown (5Y)Largest decline over 5 years | -16.77% | -22.94% | +6.17% |
Max Drawdown (10Y)Largest decline over 10 years | -17.09% | -23.00% | +5.91% |
Current DrawdownCurrent decline from peak | -2.93% | -2.82% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -2.13% | -3.47% | +1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 1.28% | +0.17% |
Volatility
PMTGX vs. PBBBX - Volatility Comparison
PIA MBS Bond Fund (PMTGX) has a higher volatility of 1.30% compared to PIA BBB Bond Fund (PBBBX) at 1.01%. This indicates that PMTGX's price experiences larger fluctuations and is considered to be riskier than PBBBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMTGX | PBBBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 1.01% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 3.43% | 3.19% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.34% | 4.07% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 6.67% | -0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.79% | 6.02% | -1.23% |
PMTGX vs. PBBBX - Expense Ratio Comparison
PMTGX has a 0.23% expense ratio, which is higher than PBBBX's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PMTGX vs. PBBBX - Dividend Comparison
PMTGX's dividend yield for the trailing twelve months is around 3.53%, which matches PBBBX's 3.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBBBX PIA BBB Bond Fund | 3.52% | 4.02% | 3.82% | 3.57% | 3.24% | 2.85% | 3.16% | 3.78% | 4.20% | 3.75% | 3.95% | 4.12% |
PMTGX PIA MBS Bond Fund | 3.53% | 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 PBBBX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMTGX has higher volatility (1.30%) compared to PBBBX (1.01%). In terms of maximum drawdown, PMTGX dropped -17.09% vs PBBBX's -23.00%.
PMTGX currently has the higher Sharpe Ratio (0.84 vs 0.59), 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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