PNIGX vs. VTMFX

Last updated Jun 4, 2026

PNIGX (BlackRock U.S. Government Bond Portfolio) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both mutual funds - PNIGX is a Government Bonds fund managed by BlackRock, while VTMFX is a Diversified Portfolio fund managed by BlackRock. At a correlation of -0.05, they often move in opposite directions. PNIGX charges 0.45%/yr vs 0.09%/yr for VTMFX.

Performance

PNIGX vs. VTMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock U.S. Government Bond Portfolio (PNIGX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PNIGX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VTMFX

• 1D: 0.17%
• 1M: 3.06%
• YTD: 6.03%
• 6M: 6.16%
• 1Y: 16.91%
• 3Y*: 12.75%
• 5Y*: 7.33%
• 10Y*: 8.70%

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

PNIGX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PNIGX BlackRock U.S. Government Bond Portfolio	0.00%	6.68%	0.79%	4.11%	-13.73%	-1.36%	6.69%	6.88%	0.56%	1.94%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	6.03%	11.28%	12.17%	15.55%	-12.69%	13.10%	13.31%	18.01%	-1.40%	12.61%

Correlation

The correlation between PNIGX and VTMFX is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Sep 7, 1994	-0.05

The correlation between PNIGX and VTMFX shifts across timeframes, from -0.05 (all time) to 0.26 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PNIGX vs. VTMFX — Risk / Return Rank

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

VTMFX

VTMFX Risk / Return Rank: 81
VTMFX Sharpe Ratio Rank: 87
VTMFX Sortino Ratio Rank: 86
VTMFX Omega Ratio Rank: 83
VTMFX Calmar Ratio Rank: 69
VTMFX Martin Ratio Rank: 82

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.

PNIGX vs. VTMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock U.S. Government Bond Portfolio (PNIGX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	PNIGX	VTMFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.83	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.86	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.96	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.85	—

Drawdowns

Drawdown Indicators

	PNIGX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	—	-28.49%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-5.38%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-10.61%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.87%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-3.55%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.12%	—

Volatility

Volatility by Period

	PNIGX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.75%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	6.13%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	8.52%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	9.12%	—

PNIGX vs. VTMFX - Expense Ratio Comparison

PNIGX has a 0.45% expense ratio, which is higher than VTMFX's 0.09% expense ratio.

Dividends

PNIGX vs. VTMFX - Dividend Comparison

PNIGX's dividend yield for the trailing twelve months is around 0.98%, less than VTMFX's 2.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PNIGX BlackRock U.S. Government Bond Portfolio	0.98%	2.57%	3.57%	2.90%	1.95%	1.39%	1.84%	2.56%	2.59%	2.32%	2.24%	2.57%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	2.10%	2.14%	2.08%	1.94%	1.85%	1.38%	1.72%	2.05%	2.22%	2.00%	2.13%	2.06%

Frequently Asked Questions

Can I hold both PNIGX and VTMFX in my portfolio?

PNIGX and VTMFX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.