PTCIX vs. VLMIX

Last updated Jun 25, 2026

PTCIX (PIMCO Long-Term Credit Bond Fund) and VLMIX (Vanguard Long-Term Investment-Grade Fund Investor Shares) are both Long-Term Bond funds. Over the past 5 years, PTCIX returned -2.27%/yr vs 5.92%/yr for VLMIX. At a 0.16 correlation, their price movements are largely independent. PTCIX charges 0.55%/yr vs 0.20%/yr for VLMIX.

Performance

PTCIX vs. VLMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Long-Term Credit Bond Fund (PTCIX) and Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PTCIX achieves a 1.07% return, which is significantly higher than VLMIX's -0.96% return.

PTCIX

• 1D: 0.11%
• 1M: 2.01%
• YTD: 1.07%
• 6M: 0.89%
• 1Y: 6.66%
• 3Y*: 4.73%
• 5Y*: -2.27%
• 10Y*: 2.74%

VLMIX

• 1D: -0.24%
• 1M: 0.53%
• YTD: -0.96%
• 6M: -2.70%
• 1Y: -3.18%
• 3Y*: 6.83%
• 5Y*: 5.92%
• 10Y*: —

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

PTCIX vs. VLMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTCIX PIMCO Long-Term Credit Bond Fund	1.07%	8.56%	-0.06%	9.20%	-27.04%	-1.00%	13.28%	24.99%	-5.92%	4.07%
VLMIX Vanguard Long-Term Investment-Grade Fund Investor Shares	-0.96%	1.01%	7.83%	22.39%	-9.40%	20.12%	20.25%	35.69%	4.91%	7.31%

Correlation

The correlation between PTCIX and VLMIX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (All Time) Calculated using the full available price history since Aug 23, 2017	0.16

Over the past year, PTCIX and VLMIX have become more correlated (0.40) than their long-term average of 0.16, meaning their price movements have been converging.

Return for Risk

PTCIX vs. VLMIX — Risk / Return Rank

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

PTCIX

PTCIX Risk / Return Rank: 14
PTCIX Sharpe Ratio Rank: 14
PTCIX Sortino Ratio Rank: 15
PTCIX Omega Ratio Rank: 13
PTCIX Calmar Ratio Rank: 16
PTCIX Martin Ratio Rank: 15

VLMIX

VLMIX Risk / Return Rank: 2
VLMIX Sharpe Ratio Rank: 2
VLMIX Sortino Ratio Rank: 2
VLMIX Omega Ratio Rank: 2
VLMIX Calmar Ratio Rank: 2
VLMIX Martin Ratio Rank: 2

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.

PTCIX vs. VLMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Long-Term Credit Bond Fund (PTCIX) and Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX). 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.

	PTCIX	VLMIX	Difference
Sharpe ratio: Return per unit of total volatility	0.93	-0.16	+1.09
Sortino ratio: Return per unit of downside risk	1.37	-0.14	+1.51
Omega ratio: Gain probability vs. loss probability	1.16	0.98	+0.18
Calmar ratio: Return relative to maximum drawdown	1.25	-0.19	+1.44
Martin ratio: Return relative to average drawdown	3.51	-0.52	+4.02

PTCIX vs. VLMIX - Sharpe Ratio Comparison

The current PTCIX Sharpe Ratio is 0.93, which is higher than the VLMIX Sharpe Ratio of -0.16. The chart below compares the historical Sharpe Ratios of PTCIX and VLMIX, 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

PTCIX vs. VLMIX - Drawdown Comparison

The maximum PTCIX drawdown since its inception was -35.64%, roughly equal to the maximum VLMIX drawdown of -35.47%. Use the drawdown chart below to compare losses from any high point for PTCIX and VLMIX.

Drawdown Indicators

	PTCIX	VLMIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.64%	-35.47%	-0.17%
Max Drawdown (1Y) Largest decline over 1 year	-5.95%	-11.77%	+5.82%
Max Drawdown (3Y) Largest decline over 3 years	-13.35%	-17.59%	+4.24%
Max Drawdown (5Y) Largest decline over 5 years	-35.64%	-21.85%	-13.79%
Max Drawdown (10Y) Largest decline over 10 years	-35.64%	—	—
Current Drawdown Current decline from peak	-14.53%	-8.13%	-6.40%
Average Drawdown Average peak-to-trough decline	-8.24%	-4.82%	-3.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	4.26%	-2.14%

Volatility

PTCIX vs. VLMIX - Volatility Comparison

The current volatility for PIMCO Long-Term Credit Bond Fund (PTCIX) is 2.13%, while Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX) has a volatility of 3.57%. This indicates that PTCIX experiences smaller price fluctuations and is considered to be less risky than VLMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTCIX	VLMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.13%	3.57%	-1.44%
Volatility (6M) Calculated over the trailing 6-month period	6.18%	10.22%	-4.04%
Volatility (1Y) Calculated over the trailing 1-year period	8.04%	13.59%	-5.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.54%	16.88%	-5.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.48%	18.67%	-8.19%

PTCIX vs. VLMIX - Expense Ratio Comparison

PTCIX has a 0.55% expense ratio, which is higher than VLMIX's 0.20% expense ratio.

Dividends

PTCIX vs. VLMIX - Dividend Comparison

PTCIX's dividend yield for the trailing twelve months is around 5.80%, more than VLMIX's 2.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PTCIX PIMCO Long-Term Credit Bond Fund	5.80%	5.67%	5.23%	3.83%	4.86%	7.39%	7.72%	5.14%	6.51%	4.81%	5.75%	14.97%
VLMIX Vanguard Long-Term Investment-Grade Fund Investor Shares	2.16%	2.14%	1.21%	0.22%	7.46%	8.18%	8.10%	1.63%	5.11%	1.61%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PTCIX and VLMIX in my portfolio?

PTCIX and VLMIX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTCIX or VLMIX?

VLMIX has higher volatility (3.57%) compared to PTCIX (2.13%). In terms of maximum drawdown, PTCIX dropped -35.64% vs VLMIX's -35.47%.

Which has better risk-adjusted returns?

PTCIX currently has the higher Sharpe Ratio (0.93 vs -0.16), 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.