TWUSX vs. PDMIX

Last updated Jun 4, 2026

TWUSX (American Century Short-Term Government Fund) and PDMIX (PIMCO GNMA and Government Securities Fund) are both Government Bonds funds. Over the past 10 years, TWUSX returned 1.51%/yr vs 1.56%/yr for PDMIX. A 0.65 correlation means they provide meaningful diversification when combined. TWUSX charges 0.55%/yr vs 0.50%/yr for PDMIX.

Performance

TWUSX vs. PDMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Short-Term Government Fund (TWUSX) and PIMCO GNMA and Government Securities Fund (PDMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TWUSX achieves a 0.36% return, which is significantly lower than PDMIX's 1.23% return. Both investments have delivered pretty close results over the past 10 years, with TWUSX having a 1.51% annualized return and PDMIX not far ahead at 1.56%.

TWUSX

• 1D: -0.11%
• 1M: 0.10%
• YTD: 0.36%
• 6M: 0.66%
• 1Y: 3.30%
• 3Y*: 3.83%
• 5Y*: 1.48%
• 10Y*: 1.51%

PDMIX

• 1D: 0.00%
• 1M: 0.34%
• YTD: 1.23%
• 6M: 1.21%
• 1Y: 7.10%
• 3Y*: 4.86%
• 5Y*: 0.32%
• 10Y*: 1.56%

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

TWUSX vs. PDMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TWUSX American Century Short-Term Government Fund	0.36%	4.94%	3.59%	3.70%	-4.31%	-0.09%	3.36%	2.91%	1.12%	0.22%
PDMIX PIMCO GNMA and Government Securities Fund	1.23%	8.43%	1.59%	6.03%	-13.96%	-0.65%	5.78%	6.57%	0.83%	2.06%

Correlation

The correlation between TWUSX and PDMIX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Aug 1, 1997	0.65

The correlation between TWUSX and PDMIX shifts across timeframes, from 0.65 (10 years) to 0.76 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

TWUSX vs. PDMIX — Risk / Return Rank

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

TWUSX

TWUSX Risk / Return Rank: 58
TWUSX Sharpe Ratio Rank: 40
TWUSX Sortino Ratio Rank: 61
TWUSX Omega Ratio Rank: 54
TWUSX Calmar Ratio Rank: 75
TWUSX Martin Ratio Rank: 60

PDMIX

PDMIX Risk / Return Rank: 33
PDMIX Sharpe Ratio Rank: 31
PDMIX Sortino Ratio Rank: 34
PDMIX Omega Ratio Rank: 33
PDMIX Calmar Ratio Rank: 34
PDMIX Martin Ratio Rank: 33

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.

TWUSX vs. PDMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Short-Term Government Fund (TWUSX) and PIMCO GNMA and Government Securities Fund (PDMIX). 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.

	TWUSX	PDMIX	Difference
Sharpe ratio: Return per unit of total volatility	1.84	1.61	+0.23
Sortino ratio: Return per unit of downside risk	3.29	2.43	+0.86
Omega ratio: Gain probability vs. loss probability	1.41	1.30	+0.11
Calmar ratio: Return relative to maximum drawdown	3.39	2.21	+1.18
Martin ratio: Return relative to average drawdown	11.83	7.55	+4.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TWUSX vs. PDMIX - Sharpe Ratio Comparison

The current TWUSX Sharpe Ratio is 1.84, which is comparable to the PDMIX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of TWUSX and PDMIX, 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

	TWUSX	PDMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	1.61	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.05	+0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.31	+0.52
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	1.03	-1.04

Drawdowns

TWUSX vs. PDMIX - Drawdown Comparison

The maximum TWUSX drawdown since its inception was -91.06%, which is greater than PDMIX's maximum drawdown of -18.64%. Use the drawdown chart below to compare losses from any high point for TWUSX and PDMIX.

Drawdown Indicators

	TWUSX	PDMIX	Difference
Max Drawdown Largest peak-to-trough decline	-91.06%	-18.64%	-72.42%
Max Drawdown (1Y) Largest decline over 1 year	-0.98%	-3.24%	+2.26%
Max Drawdown (3Y) Largest decline over 3 years	-1.09%	-7.13%	+6.04%
Max Drawdown (5Y) Largest decline over 5 years	-5.81%	-18.59%	+12.78%
Max Drawdown (10Y) Largest decline over 10 years	-5.85%	-18.64%	+12.79%
Current Drawdown Current decline from peak	-64.62%	-1.34%	-63.28%
Average Drawdown Average peak-to-trough decline	-76.98%	-1.75%	-75.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.28%	0.94%	-0.66%

Volatility

TWUSX vs. PDMIX - Volatility Comparison

The current volatility for American Century Short-Term Government Fund (TWUSX) is 0.55%, while PIMCO GNMA and Government Securities Fund (PDMIX) has a volatility of 1.76%. This indicates that TWUSX experiences smaller price fluctuations and is considered to be less risky than PDMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TWUSX	PDMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.55%	1.76%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	1.24%	3.27%	-2.03%
Volatility (1Y) Calculated over the trailing 1-year period	1.81%	4.46%	-2.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.31%	6.66%	-4.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.82%	5.06%	-3.24%

TWUSX vs. PDMIX - Expense Ratio Comparison

TWUSX has a 0.55% expense ratio, which is higher than PDMIX's 0.50% expense ratio.

Dividends

TWUSX vs. PDMIX - Dividend Comparison

TWUSX's dividend yield for the trailing twelve months is around 3.60%, less than PDMIX's 4.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PDMIX PIMCO GNMA and Government Securities Fund	4.30%	4.29%	4.66%	3.76%	3.84%	2.03%	2.40%	3.41%	3.10%	2.96%	2.93%	2.14%
TWUSX American Century Short-Term Government Fund	3.60%	3.70%	4.06%	3.83%	1.12%	1.05%	0.72%	1.81%	1.74%	1.06%	0.57%	0.53%

Frequently Asked Questions

Can I hold both TWUSX and PDMIX in my portfolio?

TWUSX and PDMIX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TWUSX or PDMIX?

PDMIX has higher volatility (1.76%) compared to TWUSX (0.55%). In terms of maximum drawdown, TWUSX dropped -91.06% vs PDMIX's -18.64%.

Which has better risk-adjusted returns?

TWUSX currently has the higher Sharpe Ratio (1.84 vs 1.61), 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.