PTIMX vs. PTIAX

Last updated Jun 4, 2026

PTIMX (Performance Trust Municipal Bond Fund) and PTIAX (Performance Trust Strategic Bond Fund) are both mutual funds - PTIMX is a Municipal Bonds fund managed by Performance Trust Asset Management, while PTIAX is a Intermediate Core-Plus Bond fund managed by Performance Trust Asset Management. Over the past 10 years, PTIMX returned 2.39%/yr vs 2.90%/yr for PTIAX. A 0.68 correlation means they provide meaningful diversification when combined. PTIMX charges 0.48%/yr vs 0.76%/yr for PTIAX.

Performance

PTIMX vs. PTIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Performance Trust Municipal Bond Fund (PTIMX) and Performance Trust Strategic Bond Fund (PTIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PTIMX achieves a 2.19% return, which is significantly higher than PTIAX's 0.86% return. Over the past 10 years, PTIMX has underperformed PTIAX with an annualized return of 2.39%, while PTIAX has yielded a comparatively higher 2.90% annualized return.

PTIMX

• 1D: 0.22%
• 1M: 0.71%
• YTD: 2.19%
• 6M: 2.57%
• 1Y: 8.70%
• 3Y*: 4.53%
• 5Y*: 0.89%
• 10Y*: 2.39%

PTIAX

• 1D: 0.15%
• 1M: 0.68%
• YTD: 0.86%
• 6M: 0.63%
• 1Y: 6.36%
• 3Y*: 5.27%
• 5Y*: 1.06%
• 10Y*: 2.90%

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

PTIMX vs. PTIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTIMX Performance Trust Municipal Bond Fund	2.19%	4.03%	1.63%	8.66%	-12.14%	2.26%	6.34%	8.62%	0.55%	7.28%
PTIAX Performance Trust Strategic Bond Fund	0.86%	6.92%	3.52%	7.48%	-12.84%	1.15%	5.73%	7.36%	2.01%	7.08%

Correlation

The correlation between PTIMX and PTIAX is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jan 4, 2012	0.68

The correlation between PTIMX and PTIAX has been stable across timeframes, ranging from 0.66 to 0.75 - a consistent structural relationship.

Return for Risk

PTIMX vs. PTIAX — Risk / Return Rank

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

PTIMX

PTIMX Risk / Return Rank: 77
PTIMX Sharpe Ratio Rank: 93
PTIMX Sortino Ratio Rank: 92
PTIMX Omega Ratio Rank: 94
PTIMX Calmar Ratio Rank: 56
PTIMX Martin Ratio Rank: 51

PTIAX

PTIAX Risk / Return Rank: 31
PTIAX Sharpe Ratio Rank: 31
PTIAX Sortino Ratio Rank: 33
PTIAX Omega Ratio Rank: 30
PTIAX Calmar Ratio Rank: 33
PTIAX Martin Ratio Rank: 25

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.

PTIMX vs. PTIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Performance Trust Municipal Bond Fund (PTIMX) and Performance Trust Strategic Bond Fund (PTIAX). 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.

	PTIMX	PTIAX	Difference
Sharpe ratio: Return per unit of total volatility	3.17	1.60	+1.57
Sortino ratio: Return per unit of downside risk	4.65	2.40	+2.25
Omega ratio: Gain probability vs. loss probability	1.75	1.29	+0.46
Calmar ratio: Return relative to maximum drawdown	2.88	2.16	+0.73
Martin ratio: Return relative to average drawdown	10.52	6.17	+4.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PTIMX vs. PTIAX - Sharpe Ratio Comparison

The current PTIMX Sharpe Ratio is 3.17, which is higher than the PTIAX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of PTIMX and PTIAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PTIMX	PTIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.17	1.60	+1.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.21	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.72	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	1.22	-0.27

Drawdowns

PTIMX vs. PTIAX - Drawdown Comparison

The maximum PTIMX drawdown since its inception was -16.69%, roughly equal to the maximum PTIAX drawdown of -16.90%. Use the drawdown chart below to compare losses from any high point for PTIMX and PTIAX.

Drawdown Indicators

	PTIMX	PTIAX	Difference
Max Drawdown Largest peak-to-trough decline	-16.69%	-16.90%	+0.21%
Max Drawdown (1Y) Largest decline over 1 year	-3.00%	-2.99%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	-7.28%	-4.96%	-2.32%
Max Drawdown (5Y) Largest decline over 5 years	-16.69%	-16.90%	+0.21%
Max Drawdown (10Y) Largest decline over 10 years	-16.69%	-16.90%	+0.21%
Current Drawdown Current decline from peak	-0.36%	-1.39%	+1.03%
Average Drawdown Average peak-to-trough decline	-2.97%	-2.44%	-0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	1.04%	-0.22%

Volatility

PTIMX vs. PTIAX - Volatility Comparison

The current volatility for Performance Trust Municipal Bond Fund (PTIMX) is 1.09%, while Performance Trust Strategic Bond Fund (PTIAX) has a volatility of 1.44%. This indicates that PTIMX experiences smaller price fluctuations and is considered to be less risky than PTIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTIMX	PTIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	1.44%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	2.07%	2.84%	-0.77%
Volatility (1Y) Calculated over the trailing 1-year period	2.73%	4.04%	-1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.46%	4.97%	-0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.48%	4.04%	+0.44%

PTIMX vs. PTIAX - Expense Ratio Comparison

PTIMX has a 0.48% expense ratio, which is lower than PTIAX's 0.76% expense ratio.

Dividends

PTIMX vs. PTIAX - Dividend Comparison

PTIMX's dividend yield for the trailing twelve months is around 3.91%, less than PTIAX's 4.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PTIAX Performance Trust Strategic Bond Fund	4.76%	4.68%	4.44%	4.03%	3.96%	3.01%	3.86%	4.11%	4.47%	5.51%	5.49%	4.87%
PTIMX Performance Trust Municipal Bond Fund	3.91%	4.02%	3.66%	3.68%	2.46%	2.35%	2.71%	3.08%	2.87%	2.58%	2.41%	2.46%

Frequently Asked Questions

Can I hold both PTIMX and PTIAX in my portfolio?

PTIMX and PTIAX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTIMX or PTIAX?

PTIAX has higher volatility (1.44%) compared to PTIMX (1.09%). In terms of maximum drawdown, PTIMX dropped -16.69% vs PTIAX's -16.90%.

Which has better risk-adjusted returns?

PTIMX currently has the higher Sharpe Ratio (3.17 vs 1.60), 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.