PQIPX vs. TLT
PQIPX (PIMCO Dividend and Income Fund) and TLT (iShares 20+ Year Treasury Bond ETF) are both funds - PQIPX is a Global Allocation fund managed by PIMCO, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Over the past 10 years, PQIPX returned 8.14%/yr vs -2.38%/yr for TLT. Their -0.14 correlation means they have often moved in opposite directions in the past. PQIPX charges 0.81%/yr vs 0.15%/yr for TLT.
Performance
PQIPX vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, PQIPX achieves a 10.82% return, which is significantly higher than TLT's -3.49% return. Over the past 10 years, PQIPX has outperformed TLT with an annualized return of 8.14%, while TLT has yielded a comparatively lower -2.38% annualized return.
PQIPX
- 1D
- 0.13%
- 1M
- 1.30%
- 6M
- 7.10%
- YTD
- 10.82%
- 1Y
- 18.59%
- 3Y*
- 13.03%
- 5Y*
- 8.54%
- 10Y*
- 8.14%
- ALL TIME*
- 7.55%
TLT
- 1D
- -0.66%
- 1M
- -3.81%
- 6M
- -3.46%
- YTD
- -3.49%
- 1Y
- -2.45%
- 3Y*
- -1.80%
- 5Y*
- -8.18%
- 10Y*
- -2.38%
- ALL TIME*
- 3.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $2.33B | $2.02B | $2.19B |
PQIPX vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PQIPX PIMCO Dividend and Income Fund | 10.82% | 17.26% | 7.08% | 11.93% | -6.37% | 18.45% | -1.54% | 15.53% | -8.78% | 16.08% |
TLT iShares 20+ Year Treasury Bond ETF | -3.49% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between PQIPX and TLT is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.43 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.28 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.02 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2011 | -0.14 |
The correlation between PQIPX and TLT shifts across timeframes, from -0.14 (all time) to 0.46 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PQIPX vs. TLT — Risk / Return Rank
PQIPX
TLT
PQIPX vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Dividend and Income Fund (PQIPX) and iShares 20+ Year Treasury Bond ETF (TLT). 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.
| PQIPX | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.03 | ||
| Sortino ratioReturn per unit of downside risk | +4.19 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 0.99 | +0.59 |
| Calmar ratioReturn relative to maximum drawdown | 3.73 | -0.14 | +3.86 |
| Martin ratioReturn relative to average drawdown | 15.45 | -0.30 | +15.75 |
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Drawdowns
PQIPX vs. TLT - Drawdown Comparison
The maximum PQIPX drawdown since its inception was -33.13%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for PQIPX and TLT.
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Drawdown Indicators
| PQIPX | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.13% | -48.35% | +15.22% |
Max Drawdown (1Y)Largest decline over 1 year | -5.06% | -7.74% | +2.68% |
Max Drawdown (3Y)Largest decline over 3 years | -7.69% | -14.79% | +7.10% |
Max Drawdown (5Y)Largest decline over 5 years | -15.81% | -43.70% | +27.89% |
Max Drawdown (10Y)Largest decline over 10 years | -33.13% | -48.35% | +15.22% |
Current DrawdownCurrent decline from peak | -0.06% | -42.36% | +42.30% |
Average DrawdownAverage peak-to-trough decline | -4.85% | -13.99% | +9.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 3.57% | -2.35% |
Volatility
PQIPX vs. TLT - Volatility Comparison
The current volatility for PIMCO Dividend and Income Fund (PQIPX) is 1.56%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.46%. This indicates that PQIPX experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PQIPX | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 2.46% | -0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 5.27% | 6.85% | -1.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.48% | 9.32% | -2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.40% | 15.74% | -7.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.89% | 14.83% | -2.94% |
PQIPX vs. TLT - Expense Ratio Comparison
PQIPX has a 0.81% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
PQIPX vs. TLT - Dividend Comparison
PQIPX's dividend yield for the trailing twelve months is around 2.75%, less than TLT's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PQIPX PIMCO Dividend and Income Fund | 2.75% | 2.05% | 3.02% | 4.35% | 5.51% | 3.96% | 2.69% | 3.79% | 3.73% | 2.69% | 3.46% | 11.08% |
TLT iShares 20+ Year Treasury Bond ETF | 4.34% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
PQIPX and TLT have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.46%) compared to PQIPX (1.56%). In terms of maximum drawdown, PQIPX dropped -33.13% vs TLT's -48.35%.
PQIPX currently has the higher Sharpe Ratio (2.91 vs -0.11), 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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