TDVG vs. PIRMX

Last updated Jun 24, 2026

TDVG (T. Rowe Price Dividend Growth ETF) and PIRMX (PIMCO Inflation Response Multi-Asset Fund Institutional) are both funds - TDVG is a Large Cap Growth Equities fund actively managed by T. Rowe Price, while PIRMX is a Diversified Portfolio fund actively managed by PIMCO. Both are actively managed. Over the past 5 years, TDVG returned 10.19%/yr vs 8.07%/yr for PIRMX. At a 0.43 correlation, their price movements are largely independent. TDVG charges 0.50%/yr vs 1.91%/yr for PIRMX.

Performance

TDVG vs. PIRMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Dividend Growth ETF (TDVG) and PIMCO Inflation Response Multi-Asset Fund Institutional (PIRMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TDVG achieves a 8.04% return, which is significantly higher than PIRMX's 5.05% return.

TDVG

• 1D: -0.55%
• 1M: 1.22%
• YTD: 8.04%
• 6M: 7.41%
• 1Y: 17.57%
• 3Y*: 15.55%
• 5Y*: 10.19%
• 10Y*: —

PIRMX

• 1D: -0.33%
• 1M: -1.94%
• YTD: 5.05%
• 6M: 4.70%
• 1Y: 13.73%
• 3Y*: 13.53%
• 5Y*: 8.07%
• 10Y*: 7.37%

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

TDVG vs. PIRMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TDVG T. Rowe Price Dividend Growth ETF	8.04%	14.80%	13.45%	13.95%	-10.15%	26.20%	12.97%
PIRMX PIMCO Inflation Response Multi-Asset Fund Institutional	5.05%	16.76%	12.47%	6.50%	-5.11%	13.86%	6.71%

Correlation

The correlation between TDVG and PIRMX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (All Time) Calculated using the full available price history since Aug 5, 2020	0.43

Return for Risk

TDVG vs. PIRMX — Risk / Return Rank

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

TDVG

TDVG Risk / Return Rank: 56
TDVG Sharpe Ratio Rank: 56
TDVG Sortino Ratio Rank: 58
TDVG Omega Ratio Rank: 54
TDVG Calmar Ratio Rank: 52
TDVG Martin Ratio Rank: 59

PIRMX

PIRMX Risk / Return Rank: 77
PIRMX Sharpe Ratio Rank: 74
PIRMX Sortino Ratio Rank: 69
PIRMX Omega Ratio Rank: 71
PIRMX Calmar Ratio Rank: 88
PIRMX Martin Ratio Rank: 85

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.

TDVG vs. PIRMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Dividend Growth ETF (TDVG) and PIMCO Inflation Response Multi-Asset Fund Institutional (PIRMX). 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.

	TDVG	PIRMX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.30	-0.49
Sortino ratio: Return per unit of downside risk	2.60	3.15	-0.55
Omega ratio: Gain probability vs. loss probability	1.32	1.43	-0.11
Calmar ratio: Return relative to maximum drawdown	2.44	4.11	-1.67
Martin ratio: Return relative to average drawdown	10.01	14.73	-4.72

TDVG vs. PIRMX - Sharpe Ratio Comparison

The current TDVG Sharpe Ratio is 1.81, which is comparable to the PIRMX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of TDVG and PIRMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TDVG vs. PIRMX - Drawdown Comparison

The maximum TDVG drawdown since its inception was -19.20%, roughly equal to the maximum PIRMX drawdown of -18.51%. Use the drawdown chart below to compare losses from any high point for TDVG and PIRMX.

Drawdown Indicators

	TDVG	PIRMX	Difference
Max Drawdown Largest peak-to-trough decline	-19.20%	-18.51%	-0.69%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-3.37%	-3.87%
Max Drawdown (3Y) Largest decline over 3 years	-14.02%	-4.96%	-9.06%
Max Drawdown (5Y) Largest decline over 5 years	-19.20%	-14.31%	-4.89%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.20%	—
Current Drawdown Current decline from peak	-0.82%	-3.02%	+2.20%
Average Drawdown Average peak-to-trough decline	-3.73%	-4.09%	+0.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	0.94%	+0.82%

Volatility

TDVG vs. PIRMX - Volatility Comparison

T. Rowe Price Dividend Growth ETF (TDVG) has a higher volatility of 2.78% compared to PIMCO Inflation Response Multi-Asset Fund Institutional (PIRMX) at 1.60%. This indicates that TDVG's price experiences larger fluctuations and is considered to be riskier than PIRMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TDVG	PIRMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	1.60%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	7.61%	4.84%	+2.77%
Volatility (1Y) Calculated over the trailing 1-year period	9.79%	6.03%	+3.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	8.28%	+5.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.90%	7.48%	+6.42%

TDVG vs. PIRMX - Expense Ratio Comparison

TDVG has a 0.50% expense ratio, which is lower than PIRMX's 1.91% expense ratio.

Dividends

TDVG vs. PIRMX - Dividend Comparison

TDVG's dividend yield for the trailing twelve months is around 0.98%, less than PIRMX's 8.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PIRMX PIMCO Inflation Response Multi-Asset Fund Institutional	8.42%	2.66%	9.91%	0.13%	14.12%	11.21%	0.80%	2.05%	11.41%	6.43%	0.49%	3.13%
TDVG T. Rowe Price Dividend Growth ETF	0.98%	1.00%	1.06%	1.31%	1.15%	0.80%	0.40%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TDVG and PIRMX in my portfolio?

TDVG and PIRMX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TDVG or PIRMX?

TDVG has higher volatility (2.78%) compared to PIRMX (1.60%). In terms of maximum drawdown, TDVG dropped -19.20% vs PIRMX's -18.51%.

Which has better risk-adjusted returns?

PIRMX currently has the higher Sharpe Ratio (2.30 vs 1.81), 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.