PTY vs. VSTBX
PTY (PIMCO Corporate & Income Opportunity Fund) and VSTBX (Vanguard Short-Term Corporate Bond Index Fund Institutional Shares) are both Corporate Bonds funds. Over the past 10 years, PTY returned 8.56%/yr vs 2.97%/yr for VSTBX. At a 0.08 correlation, their price movements are largely independent. PTY charges 1.19%/yr vs 0.05%/yr for VSTBX.
Performance
PTY vs. VSTBX - Performance Comparison
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Returns By Period
In the year-to-date period, PTY achieves a -3.45% return, which is significantly lower than VSTBX's 0.66% return. Over the past 10 years, PTY has outperformed VSTBX with an annualized return of 8.56%, while VSTBX has yielded a comparatively lower 2.97% annualized return.
PTY
- 1D
- 0.60%
- 1M
- 0.76%
- YTD
- -3.45%
- 6M
- -2.62%
- 1Y
- -3.79%
- 3Y*
- 5.46%
- 5Y*
- -0.17%
- 10Y*
- 8.56%
VSTBX
- 1D
- -0.08%
- 1M
- 0.26%
- YTD
- 0.66%
- 6M
- 0.85%
- 1Y
- 4.03%
- 3Y*
- 5.68%
- 5Y*
- 2.43%
- 10Y*
- 2.97%
PTY vs. VSTBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PTY PIMCO Corporate & Income Opportunity Fund | -3.45% | -0.51% | 19.87% | 22.56% | -18.71% | 0.40% | 3.24% | 35.36% | 2.49% | 26.63% |
VSTBX Vanguard Short-Term Corporate Bond Index Fund Institutional Shares | 0.66% | 6.75% | 5.37% | 6.17% | -5.73% | -0.41% | 5.07% | 9.68% | 0.92% | 2.48% |
Correlation
The correlation between PTY and VSTBX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2009 | 0.08 |
Over the past year, PTY and VSTBX have become more correlated (0.29) than their long-term average of 0.08, meaning their price movements have been converging.
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Return for Risk
PTY vs. VSTBX — Risk / Return Rank
PTY
VSTBX
PTY vs. VSTBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Corporate & Income Opportunity Fund (PTY) and Vanguard Short-Term Corporate Bond Index Fund Institutional Shares (VSTBX). 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.
| PTY | VSTBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.71 | ||
| Sortino ratioReturn per unit of downside risk | -4.01 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.47 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 3.20 | -3.45 |
| Martin ratioReturn relative to average drawdown | -0.47 | 12.56 | -13.03 |
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Drawdowns
PTY vs. VSTBX - Drawdown Comparison
The maximum PTY drawdown since its inception was -60.86%, which is greater than VSTBX's maximum drawdown of -9.34%. Use the drawdown chart below to compare losses from any high point for PTY and VSTBX.
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Drawdown Indicators
| PTY | VSTBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.86% | -9.34% | -51.52% |
Max Drawdown (1Y)Largest decline over 1 year | -15.44% | -1.31% | -14.13% |
Max Drawdown (3Y)Largest decline over 3 years | -16.04% | -1.31% | -14.73% |
Max Drawdown (5Y)Largest decline over 5 years | -41.38% | -9.34% | -32.04% |
Max Drawdown (10Y)Largest decline over 10 years | -46.55% | -9.34% | -37.21% |
Current DrawdownCurrent decline from peak | -12.37% | -0.32% | -12.05% |
Average DrawdownAverage peak-to-trough decline | -8.62% | -0.95% | -7.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.11% | 0.33% | +7.78% |
Volatility
PTY vs. VSTBX - Volatility Comparison
PIMCO Corporate & Income Opportunity Fund (PTY) has a higher volatility of 1.99% compared to Vanguard Short-Term Corporate Bond Index Fund Institutional Shares (VSTBX) at 0.63%. This indicates that PTY's price experiences larger fluctuations and is considered to be riskier than VSTBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PTY | VSTBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 0.63% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 1.35% | +6.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.92% | 1.78% | +9.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.27% | 2.72% | +14.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.19% | 2.38% | +18.81% |
PTY vs. VSTBX - Expense Ratio Comparison
PTY has a 1.19% expense ratio, which is higher than VSTBX's 0.05% expense ratio.
Dividends
PTY vs. VSTBX - Dividend Comparison
PTY's dividend yield for the trailing twelve months is around 12.12%, more than VSTBX's 4.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PTY PIMCO Corporate & Income Opportunity Fund | 12.12% | 11.05% | 9.92% | 10.77% | 13.12% | 9.16% | 8.74% | 8.37% | 10.63% | 9.48% | 12.09% | 11.92% |
VSTBX Vanguard Short-Term Corporate Bond Index Fund Institutional Shares | 4.45% | 4.34% | 4.29% | 3.09% | 2.00% | 1.80% | 2.27% | 5.40% | 2.67% | 2.27% | 1.96% | 2.25% |
Frequently Asked Questions
PTY and VSTBX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTY has higher volatility (1.99%) compared to VSTBX (0.63%). In terms of maximum drawdown, PTY dropped -60.86% vs VSTBX's -9.34%.
VSTBX currently has the higher Sharpe Ratio (2.36 vs -0.35), 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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