SPLB vs. PTCIX

Last updated Jun 4, 2026

SPLB (SPDR Portfolio Long Term Corporate Bond ETF) and PTCIX (PIMCO Long-Term Credit Bond Fund) are both funds - SPLB is a Corporate Bonds fund tracking the Bloomberg Barclays Long U.S. Corporate Index, while PTCIX is a Long-Term Bond fund managed by PIMCO. Over the past 10 years, SPLB returned 2.23%/yr vs 2.78%/yr for PTCIX. Their correlation of 0.85 suggests significant overlap in exposure. SPLB charges 0.07%/yr vs 0.55%/yr for PTCIX.

Performance

SPLB vs. PTCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Long Term Corporate Bond ETF (SPLB) and PIMCO Long-Term Credit Bond Fund (PTCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPLB achieves a 0.92% return, which is significantly lower than PTCIX's 1.07% return. Over the past 10 years, SPLB has underperformed PTCIX with an annualized return of 2.23%, while PTCIX has yielded a comparatively higher 2.78% annualized return.

SPLB

• 1D: -0.36%
• 1M: 1.50%
• YTD: 0.92%
• 6M: -0.06%
• 1Y: 7.56%
• 3Y*: 4.35%
• 5Y*: -1.84%
• 10Y*: 2.23%

PTCIX

• 1D: 0.23%
• 1M: 1.89%
• YTD: 1.07%
• 6M: 0.33%
• 1Y: 9.03%
• 3Y*: 4.96%
• 5Y*: -1.74%
• 10Y*: 2.78%

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

SPLB vs. PTCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPLB SPDR Portfolio Long Term Corporate Bond ETF	0.92%	7.05%	-1.74%	11.20%	-25.68%	-1.99%	13.47%	23.49%	-7.35%	12.26%
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%	13.56%

Correlation

The correlation between SPLB and PTCIX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jan 5, 2010	0.85

The correlation between SPLB and PTCIX has been stable across timeframes, ranging from 0.85 to 0.95 - a consistent structural relationship.

Return for Risk

SPLB vs. PTCIX — Risk / Return Rank

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

SPLB

SPLB Risk / Return Rank: 26
SPLB Sharpe Ratio Rank: 26
SPLB Sortino Ratio Rank: 25
SPLB Omega Ratio Rank: 24
SPLB Calmar Ratio Rank: 29
SPLB Martin Ratio Rank: 25

PTCIX

PTCIX Risk / Return Rank: 16
PTCIX Sharpe Ratio Rank: 16
PTCIX Sortino Ratio Rank: 16
PTCIX Omega Ratio Rank: 15
PTCIX Calmar Ratio Rank: 18
PTCIX Martin Ratio Rank: 16

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.

SPLB vs. PTCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Corporate Bond ETF (SPLB) and PIMCO Long-Term Credit Bond Fund (PTCIX). 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.

	SPLB	PTCIX	Difference
Sharpe ratio: Return per unit of total volatility	0.94	1.13	-0.19
Sortino ratio: Return per unit of downside risk	1.39	1.66	-0.27
Omega ratio: Gain probability vs. loss probability	1.16	1.20	-0.03
Calmar ratio: Return relative to maximum drawdown	1.40	1.55	-0.15
Martin ratio: Return relative to average drawdown	3.48	4.46	-0.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPLB vs. PTCIX - Sharpe Ratio Comparison

The current SPLB Sharpe Ratio is 0.94, which is comparable to the PTCIX Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of SPLB and PTCIX, 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

	SPLB	PTCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	1.13	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.15	-0.15	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.17	0.27	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.57	-0.13

Drawdowns

SPLB vs. PTCIX - Drawdown Comparison

The maximum SPLB drawdown since its inception was -34.46%, roughly equal to the maximum PTCIX drawdown of -35.64%. Use the drawdown chart below to compare losses from any high point for SPLB and PTCIX.

Drawdown Indicators

	SPLB	PTCIX	Difference
Max Drawdown Largest peak-to-trough decline	-34.46%	-35.64%	+1.18%
Max Drawdown (1Y) Largest decline over 1 year	-5.42%	-5.95%	+0.53%
Max Drawdown (3Y) Largest decline over 3 years	-12.91%	-13.35%	+0.44%
Max Drawdown (5Y) Largest decline over 5 years	-34.46%	-35.64%	+1.18%
Max Drawdown (10Y) Largest decline over 10 years	-34.46%	-35.64%	+1.18%
Current Drawdown Current decline from peak	-14.53%	-14.53%	0.00%
Average Drawdown Average peak-to-trough decline	-8.01%	-8.22%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	2.06%	+0.12%

Volatility

SPLB vs. PTCIX - Volatility Comparison

The current volatility for SPDR Portfolio Long Term Corporate Bond ETF (SPLB) is 2.36%, while PIMCO Long-Term Credit Bond Fund (PTCIX) has a volatility of 2.78%. This indicates that SPLB experiences smaller price fluctuations and is considered to be less risky than PTCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPLB	PTCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.36%	2.78%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	5.81%	6.07%	-0.26%
Volatility (1Y) Calculated over the trailing 1-year period	8.05%	8.17%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.71%	11.55%	+1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.95%	10.47%	+2.48%

SPLB vs. PTCIX - Expense Ratio Comparison

SPLB has a 0.07% expense ratio, which is lower than PTCIX's 0.55% expense ratio.

Dividends

SPLB vs. PTCIX - Dividend Comparison

SPLB's dividend yield for the trailing twelve months is around 5.38%, less than PTCIX's 5.80% 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%
SPLB SPDR Portfolio Long Term Corporate Bond ETF	5.38%	5.25%	5.20%	4.60%	4.53%	3.00%	3.01%	3.79%	4.50%	4.06%	4.34%	4.70%

Frequently Asked Questions

Can I hold both SPLB and PTCIX in my portfolio?

With a correlation of 0.92, SPLB and PTCIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SPLB or PTCIX?

PTCIX has higher volatility (2.78%) compared to SPLB (2.36%). In terms of maximum drawdown, SPLB dropped -34.46% vs PTCIX's -35.64%.

Which has better risk-adjusted returns?

PTCIX currently has the higher Sharpe Ratio (1.13 vs 0.94), 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.