PONPX vs. VUBFX

Last updated Apr 2, 2026

Compare and contrast key facts about PIMCO Income Fund Class I-2 (PONPX) and Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX).

PONPX is managed by PIMCO. VUBFX is managed by Vanguard. It was launched on Feb 24, 2015.

Performance

PONPX vs. VUBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Income Fund Class I-2 (PONPX) and Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX). The values are adjusted to include any dividend payments, if applicable.

PONPX vs. VUBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PONPX PIMCO Income Fund Class I-2	-1.01%	10.96%	5.33%	9.24%	-9.14%	2.51%	5.73%	7.99%	0.53%	8.52%
VUBFX Vanguard Ultra-Short-Term Bond Fund Investor Shares	0.59%	5.04%	5.99%	5.43%	-0.53%	0.03%	1.95%	3.34%	1.94%	1.23%

Returns By Period

In the year-to-date period, PONPX achieves a -1.01% return, which is significantly lower than VUBFX's 0.59% return. Over the past 10 years, PONPX has outperformed VUBFX with an annualized return of 4.59%, while VUBFX has yielded a comparatively lower 2.56% annualized return.

PONPX

• 1D: 0.37%
• 1M: -2.36%
• YTD: -1.01%
• 6M: 1.30%
• 1Y: 6.17%
• 3Y*: 7.22%
• 5Y*: 3.32%
• 10Y*: 4.59%

VUBFX

• 1D: 0.00%
• 1M: -0.10%
• YTD: 0.59%
• 6M: 1.62%
• 1Y: 4.31%
• 3Y*: 5.24%
• 5Y*: 3.26%
• 10Y*: 2.56%

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

PONPX vs. VUBFX - Expense Ratio Comparison

PONPX has a 0.72% expense ratio, which is higher than VUBFX's 0.20% expense ratio.

PONPX

PIMCO Income Fund Class I-2

VUBFX

Vanguard Ultra-Short-Term Bond Fund Investor Shares

Return for Risk

PONPX vs. VUBFX — Risk / Return Rank

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

PONPX

PONPX Risk / Return Rank: 79
PONPX Sharpe Ratio Rank: 80
PONPX Sortino Ratio Rank: 82
PONPX Omega Ratio Rank: 73
PONPX Calmar Ratio Rank: 80
PONPX Martin Ratio Rank: 79

VUBFX

VUBFX Risk / Return Rank: 100
VUBFX Sharpe Ratio Rank: 100
VUBFX Sortino Ratio Rank: 100
VUBFX Omega Ratio Rank: 99
VUBFX Calmar Ratio Rank: 100
VUBFX Martin Ratio Rank: 100

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. VUBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Fund Class I-2 (PONPX) and Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX). 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.

	PONPX	VUBFX	Difference
Sharpe ratio Return per unit of total volatility	1.51	5.18	-3.66
Sortino ratio Return per unit of downside risk	2.16	10.17	-8.01
Omega ratio Gain probability vs. loss probability	1.28	3.60	-2.32
Calmar ratio Return relative to maximum drawdown	1.98	14.46	-12.49
Martin ratio Return relative to average drawdown	7.83	65.22	-57.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PONPX vs. VUBFX - Sharpe Ratio Comparison

The current PONPX Sharpe Ratio is 1.51, which is lower than the VUBFX Sharpe Ratio of 5.18. The chart below compares the historical Sharpe Ratios of PONPX and VUBFX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PONPX	VUBFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	5.18	-3.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	3.34	-2.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.10	3.07	-1.97
Sharpe Ratio (All Time) Calculated using the full available price history	1.82	3.06	-1.23

Correlation

The correlation between PONPX and VUBFX is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PONPX vs. VUBFX - Dividend Comparison

PONPX's dividend yield for the trailing twelve months is around 5.46%, more than VUBFX's 4.12% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PONPX PIMCO Income Fund Class I-2	5.46%	5.91%	6.16%	6.11%	4.89%	3.92%	4.78%	5.73%	5.56%	5.27%	5.42%	7.77%
VUBFX Vanguard Ultra-Short-Term Bond Fund Investor Shares	4.12%	4.62%	5.42%	4.06%	1.28%	0.43%	1.52%	2.58%	2.13%	1.43%	0.98%	0.00%

Drawdowns

PONPX vs. VUBFX - Drawdown Comparison

The maximum PONPX drawdown since its inception was -13.41%, which is greater than VUBFX's maximum drawdown of -1.86%. Use the drawdown chart below to compare losses from any high point for PONPX and VUBFX.

Drawdown Indicators

	PONPX	VUBFX	Difference
Max Drawdown Largest peak-to-trough decline	-13.41%	-1.86%	-11.55%
Max Drawdown (1Y) Largest decline over 1 year	-3.69%	-0.30%	-3.39%
Max Drawdown (5Y) Largest decline over 5 years	-13.41%	-1.86%	-11.55%
Max Drawdown (10Y) Largest decline over 10 years	-13.41%	-1.86%	-11.55%
Current Drawdown Current decline from peak	-2.88%	-0.10%	-2.78%
Average Drawdown Average peak-to-trough decline	-1.44%	-0.17%	-1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.07%	+0.86%

Volatility

PONPX vs. VUBFX - Volatility Comparison

PIMCO Income Fund Class I-2 (PONPX) has a higher volatility of 1.90% compared to Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX) at 0.34%. This indicates that PONPX's price experiences larger fluctuations and is considered to be riskier than VUBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PONPX	VUBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.90%	0.34%	+1.56%
Volatility (6M) Calculated over the trailing 6-month period	2.66%	0.55%	+2.11%
Volatility (1Y) Calculated over the trailing 1-year period	4.28%	0.84%	+3.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.74%	0.98%	+3.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.19%	0.84%	+3.35%