PONPX vs. BND

Last updated Jun 23, 2026

PONPX (PIMCO Income Fund Class I-2) and BND (Vanguard Total Bond Market ETF) are both Total Bond Market funds. Over the past 10 years, PONPX returned 4.61%/yr vs 1.55%/yr for BND. A 0.54 correlation means they provide meaningful diversification when combined. PONPX charges 0.72%/yr vs 0.03%/yr for BND.

Performance

PONPX vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Income Fund Class I-2 (PONPX) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PONPX achieves a 0.96% return, which is significantly higher than BND's 0.38% return. Over the past 10 years, PONPX has outperformed BND with an annualized return of 4.61%, while BND has yielded a comparatively lower 1.55% annualized return.

PONPX

• 1D: 0.09%
• 1M: 1.18%
• YTD: 0.96%
• 6M: 1.55%
• 1Y: 7.77%
• 3Y*: 7.62%
• 5Y*: 3.47%
• 10Y*: 4.61%

BND

• 1D: -0.27%
• 1M: 0.53%
• YTD: 0.38%
• 6M: 0.45%
• 1Y: 4.37%
• 3Y*: 3.92%
• 5Y*: 0.04%
• 10Y*: 1.55%

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

PONPX vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PONPX PIMCO Income Fund Class I-2	0.96%	10.96%	5.33%	9.24%	-9.14%	2.51%	5.73%	7.99%	0.53%	8.52%
BND Vanguard Total Bond Market ETF	0.38%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	-0.12%	3.57%

Correlation

The correlation between PONPX and BND is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009	0.54

Over the past year, PONPX and BND have become more correlated (0.83) than their long-term average of 0.54, meaning their price movements have been converging.

Return for Risk

PONPX vs. BND — Risk / Return Rank

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

PONPX

PONPX Risk / Return Rank: 44
PONPX Sharpe Ratio Rank: 49
PONPX Sortino Ratio Rank: 53
PONPX Omega Ratio Rank: 52
PONPX Calmar Ratio Rank: 35
PONPX Martin Ratio Rank: 34

BND

BND Risk / Return Rank: 33
BND Sharpe Ratio Rank: 33
BND Sortino Ratio Rank: 34
BND Omega Ratio Rank: 31
BND Calmar Ratio Rank: 33
BND Martin Ratio Rank: 33

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.

PONPX vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Fund Class I-2 (PONPX) and Vanguard Total Bond Market ETF (BND). 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.

	PONPX	BND	Difference
Sharpe ratio: Return per unit of total volatility	1.89	1.18	+0.71
Sortino ratio: Return per unit of downside risk	2.81	1.76	+1.06
Omega ratio: Gain probability vs. loss probability	1.36	1.21	+0.16
Calmar ratio: Return relative to maximum drawdown	2.12	1.64	+0.48
Martin ratio: Return relative to average drawdown	7.14	4.69	+2.45

PONPX vs. BND - Sharpe Ratio Comparison

The current PONPX Sharpe Ratio is 1.89, which is higher than the BND Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of PONPX and BND, 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

PONPX vs. BND - Drawdown Comparison

The maximum PONPX drawdown since its inception was -13.41%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for PONPX and BND.

Drawdown Indicators

	PONPX	BND	Difference
Max Drawdown Largest peak-to-trough decline	-13.41%	-18.58%	+5.17%
Max Drawdown (1Y) Largest decline over 1 year	-3.69%	-2.68%	-1.01%
Max Drawdown (3Y) Largest decline over 3 years	-3.86%	-5.92%	+2.06%
Max Drawdown (5Y) Largest decline over 5 years	-13.41%	-17.91%	+4.50%
Max Drawdown (10Y) Largest decline over 10 years	-13.41%	-18.58%	+5.17%
Current Drawdown Current decline from peak	-0.96%	-2.26%	+1.30%
Average Drawdown Average peak-to-trough decline	-1.45%	-3.06%	+1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	0.93%	+0.16%

Volatility

PONPX vs. BND - Volatility Comparison

PIMCO Income Fund Class I-2 (PONPX) has a higher volatility of 1.41% compared to Vanguard Total Bond Market ETF (BND) at 1.08%. This indicates that PONPX's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PONPX	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	1.08%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	3.39%	2.77%	+0.62%
Volatility (1Y) Calculated over the trailing 1-year period	4.16%	3.74%	+0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.85%	6.03%	-1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.25%	5.54%	-1.29%

PONPX vs. BND - Expense Ratio Comparison

PONPX has a 0.72% expense ratio, which is higher than BND's 0.03% expense ratio.

Dividends

PONPX vs. BND - Dividend Comparison

PONPX's dividend yield for the trailing twelve months is around 5.73%, more than BND's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BND Vanguard Total Bond Market ETF	3.96%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
PONPX PIMCO Income Fund Class I-2	5.73%	5.91%	6.16%	6.11%	4.89%	3.92%	4.78%	5.73%	5.56%	5.27%	5.42%	7.77%

Frequently Asked Questions

Can I hold both PONPX and BND in my portfolio?

PONPX and BND have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PONPX or BND?

PONPX has higher volatility (1.41%) compared to BND (1.08%). In terms of maximum drawdown, PONPX dropped -13.41% vs BND's -18.58%.

Which has better risk-adjusted returns?

PONPX currently has the higher Sharpe Ratio (1.89 vs 1.18), 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.