PTTPX vs. PBDIX

Last updated Jun 4, 2026

PTTPX (PIMCO Total Return Fund Class I-2) and PBDIX (T. Rowe Price QM U.S. Bond Index Fund) are both Total Bond Market funds. Over the past 10 years, PTTPX returned 2.13%/yr vs 1.88%/yr for PBDIX. Their correlation of 0.89 suggests significant overlap in exposure. PTTPX charges 0.63%/yr vs 0.23%/yr for PBDIX.

Performance

PTTPX vs. PBDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Total Return Fund Class I-2 (PTTPX) and T. Rowe Price QM U.S. Bond Index Fund (PBDIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PTTPX achieves a 0.60% return, which is significantly higher than PBDIX's 0.20% return. Over the past 10 years, PTTPX has outperformed PBDIX with an annualized return of 2.13%, while PBDIX has yielded a comparatively lower 1.88% annualized return.

PTTPX

• 1D: 0.11%
• 1M: 0.87%
• YTD: 0.60%
• 6M: 0.76%
• 1Y: 7.35%
• 3Y*: 5.22%
• 5Y*: 0.52%
• 10Y*: 2.13%

PBDIX

• 1D: 0.00%
• 1M: 0.47%
• YTD: 0.20%
• 6M: 0.62%
• 1Y: 6.80%
• 3Y*: 4.84%
• 5Y*: 0.50%
• 10Y*: 1.88%

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

PTTPX vs. PBDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTTPX PIMCO Total Return Fund Class I-2	0.60%	9.24%	2.51%	5.47%	-14.80%	-0.70%	8.78%	8.26%	-0.35%	5.03%
PBDIX T. Rowe Price QM U.S. Bond Index Fund	0.20%	8.71%	2.66%	6.02%	-14.24%	-1.45%	8.17%	8.69%	-0.01%	3.83%

Correlation

The correlation between PTTPX and PBDIX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since May 27, 2008	0.89

The correlation between PTTPX and PBDIX has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.

Return for Risk

PTTPX vs. PBDIX — Risk / Return Rank

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

PTTPX

PTTPX Risk / Return Rank: 29
PTTPX Sharpe Ratio Rank: 30
PTTPX Sortino Ratio Rank: 30
PTTPX Omega Ratio Rank: 31
PTTPX Calmar Ratio Rank: 28
PTTPX Martin Ratio Rank: 25

PBDIX

PBDIX Risk / Return Rank: 33
PBDIX Sharpe Ratio Rank: 33
PBDIX Sortino Ratio Rank: 35
PBDIX Omega Ratio Rank: 32
PBDIX Calmar Ratio Rank: 35
PBDIX Martin Ratio Rank: 27

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.

PTTPX vs. PBDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Total Return Fund Class I-2 (PTTPX) and T. Rowe Price QM U.S. Bond Index Fund (PBDIX). 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.

	PTTPX	PBDIX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.63	-0.06
Sortino ratio: Return per unit of downside risk	2.30	2.46	-0.16
Omega ratio: Gain probability vs. loss probability	1.29	1.30	-0.01
Calmar ratio: Return relative to maximum drawdown	1.97	2.24	-0.27
Martin ratio: Return relative to average drawdown	6.09	6.58	-0.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PTTPX vs. PBDIX - Sharpe Ratio Comparison

The current PTTPX Sharpe Ratio is 1.57, which is comparable to the PBDIX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of PTTPX and PBDIX, 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

	PTTPX	PBDIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.57	1.63	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	0.08	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.38	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.85	-0.13

Drawdowns

PTTPX vs. PBDIX - Drawdown Comparison

The maximum PTTPX drawdown since its inception was -19.36%, roughly equal to the maximum PBDIX drawdown of -19.20%. Use the drawdown chart below to compare losses from any high point for PTTPX and PBDIX.

Drawdown Indicators

	PTTPX	PBDIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.36%	-19.20%	-0.16%
Max Drawdown (1Y) Largest decline over 1 year	-3.70%	-3.08%	-0.62%
Max Drawdown (3Y) Largest decline over 3 years	-6.22%	-6.19%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	-19.36%	-19.10%	-0.26%
Max Drawdown (10Y) Largest decline over 10 years	-19.36%	-19.20%	-0.16%
Current Drawdown Current decline from peak	-1.51%	-1.60%	+0.09%
Average Drawdown Average peak-to-trough decline	-3.17%	-2.45%	-0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	1.03%	+0.16%

Volatility

PTTPX vs. PBDIX - Volatility Comparison

PIMCO Total Return Fund Class I-2 (PTTPX) has a higher volatility of 1.81% compared to T. Rowe Price QM U.S. Bond Index Fund (PBDIX) at 1.49%. This indicates that PTTPX's price experiences larger fluctuations and is considered to be riskier than PBDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTTPX	PBDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.81%	1.49%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	3.53%	3.09%	+0.44%
Volatility (1Y) Calculated over the trailing 1-year period	4.65%	4.22%	+0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.26%	6.06%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.22%	4.99%	+0.23%

PTTPX vs. PBDIX - Expense Ratio Comparison

PTTPX has a 0.63% expense ratio, which is higher than PBDIX's 0.23% expense ratio.

Dividends

PTTPX vs. PBDIX - Dividend Comparison

PTTPX's dividend yield for the trailing twelve months is around 4.44%, less than PBDIX's 5.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBDIX T. Rowe Price QM U.S. Bond Index Fund	5.68%	5.59%	5.17%	4.00%	2.01%	1.84%	3.59%	3.18%	2.94%	2.75%	2.82%	2.99%
PTTPX PIMCO Total Return Fund Class I-2	4.44%	4.37%	4.51%	3.04%	3.53%	2.48%	6.01%	3.87%	3.02%	2.53%	2.92%	6.54%

Frequently Asked Questions

Can I hold both PTTPX and PBDIX in my portfolio?

PTTPX and PBDIX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTTPX or PBDIX?

PTTPX has higher volatility (1.81%) compared to PBDIX (1.49%). In terms of maximum drawdown, PTTPX dropped -19.36% vs PBDIX's -19.20%.

Which has better risk-adjusted returns?

PBDIX currently has the higher Sharpe Ratio (1.63 vs 1.57), 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.