PTTRX vs. TLT
PTTRX (PIMCO Total Return Fund Institutional Class) and TLT (iShares 20+ Year Treasury Bond ETF) are both funds - PTTRX is a Intermediate Core-Plus Bond fund actively managed by PIMCO, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. PTTRX is actively managed, while TLT is passively managed. Over the past 10 years, PTTRX returned 2.27%/yr vs -1.74%/yr for TLT. A 0.77 correlation means they provide meaningful diversification when combined. PTTRX charges 0.53%/yr vs 0.15%/yr for TLT.
Performance
PTTRX vs. TLT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PTTRX achieves a 0.30% return, which is significantly lower than TLT's 0.77% return. Over the past 10 years, PTTRX has outperformed TLT with an annualized return of 2.27%, while TLT has yielded a comparatively lower -1.74% annualized return.
PTTRX
- 1D
- -0.34%
- 1M
- 0.88%
- YTD
- 0.30%
- 6M
- 0.80%
- 1Y
- 6.09%
- 3Y*
- 5.37%
- 5Y*
- 0.57%
- 10Y*
- 2.27%
TLT
- 1D
- 0.13%
- 1M
- 2.20%
- YTD
- 0.77%
- 6M
- 0.38%
- 1Y
- 3.87%
- 3Y*
- -1.89%
- 5Y*
- -6.59%
- 10Y*
- -1.74%
PTTRX vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PTTRX PIMCO Total Return Fund Institutional Class | 0.30% | 9.35% | 2.62% | 6.33% | -14.72% | -0.59% | 8.88% | 8.36% | -0.24% | 5.13% |
TLT iShares 20+ Year Treasury Bond ETF | 0.77% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between PTTRX and TLT is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | 0.77 |
The correlation between PTTRX and TLT has been stable across timeframes, ranging from 0.77 to 0.87 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PTTRX vs. TLT — Risk / Return Rank
PTTRX
TLT
PTTRX vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Total Return Fund Institutional Class (PTTRX) 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.
| PTTRX | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.07 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 0.51 | +1.22 |
| Martin ratioReturn relative to average drawdown | 5.09 | 1.22 | +3.86 |
Loading charts...
Drawdowns
PTTRX vs. TLT - Drawdown Comparison
The maximum PTTRX drawdown since its inception was -19.28%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for PTTRX and TLT.
Loading charts...
Drawdown Indicators
| PTTRX | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.28% | -48.35% | +29.07% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -7.58% | +3.89% |
Max Drawdown (3Y)Largest decline over 3 years | -6.18% | -19.18% | +13.00% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -43.70% | +24.42% |
Max Drawdown (10Y)Largest decline over 10 years | -19.28% | -48.35% | +29.07% |
Current DrawdownCurrent decline from peak | -1.82% | -39.82% | +38.00% |
Average DrawdownAverage peak-to-trough decline | -2.19% | -13.87% | +11.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 3.18% | -1.93% |
Volatility
PTTRX vs. TLT - Volatility Comparison
The current volatility for PIMCO Total Return Fund Institutional Class (PTTRX) is 1.39%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.20%. This indicates that PTTRX 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.
Loading charts...
Volatility by Period
| PTTRX | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 2.20% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 3.63% | 6.62% | -2.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.63% | 9.48% | -4.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.28% | 15.82% | -9.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.24% | 14.88% | -9.64% |
PTTRX vs. TLT - Expense Ratio Comparison
PTTRX has a 0.53% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
PTTRX vs. TLT - Dividend Comparison
PTTRX's dividend yield for the trailing twelve months is around 4.56%, which matches TLT's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PTTRX PIMCO Total Return Fund Institutional Class | 4.56% | 4.47% | 4.61% | 3.81% | 3.63% | 2.59% | 6.11% | 3.96% | 3.13% | 2.63% | 3.02% | 6.64% |
TLT iShares 20+ Year Treasury Bond ETF | 4.54% | 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
PTTRX and TLT have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.20%) compared to PTTRX (1.39%). In terms of maximum drawdown, PTTRX dropped -19.28% vs TLT's -48.35%.
PTTRX currently has the higher Sharpe Ratio (1.38 vs 0.41), 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.
Find the right allocation for PTTRX and TLT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer