VGWAX vs. PCRIX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Global Wellington Fund Admiral Shares (VGWAX) and PIMCO Commodity Real Return Strategy Fund (PCRIX).

VGWAX is managed by Vanguard. It was launched on Nov 2, 2017. PCRIX is managed by PIMCO. It was launched on Jun 27, 2002.

Performance

VGWAX vs. PCRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Global Wellington Fund Admiral Shares (VGWAX) and PIMCO Commodity Real Return Strategy Fund (PCRIX). The values are adjusted to include any dividend payments, if applicable.

VGWAX vs. PCRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VGWAX Vanguard Global Wellington Fund Admiral Shares	1.04%	17.48%	6.27%	12.54%	-7.07%	13.51%	7.51%	22.16%	-5.05%
PCRIX PIMCO Commodity Real Return Strategy Fund	21.21%	17.05%	10.59%	-68.64%	8.94%	33.35%	0.79%	12.29%	-13.26%

Returns By Period

In the year-to-date period, VGWAX achieves a 1.04% return, which is significantly lower than PCRIX's 21.21% return.

VGWAX

• 1D: 0.23%
• 1M: -6.46%
• YTD: 1.04%
• 6M: 5.86%
• 1Y: 13.97%
• 3Y*: 11.30%
• 5Y*: 7.50%
• 10Y*: —

PCRIX

• 1D: 0.92%
• 1M: 9.45%
• YTD: 21.21%
• 6M: 25.18%
• 1Y: 28.13%
• 3Y*: 14.86%
• 5Y*: -8.03%
• 10Y*: -2.00%

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

VGWAX vs. PCRIX - Expense Ratio Comparison

VGWAX has a 0.29% expense ratio, which is lower than PCRIX's 0.80% expense ratio.

PCRIX

PIMCO Commodity Real Return Strategy Fund

VGWAX

Vanguard Global Wellington Fund Admiral Shares

Return for Risk

VGWAX vs. PCRIX — Risk / Return Rank

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

VGWAX

VGWAX Risk / Return Rank: 81
VGWAX Sharpe Ratio Rank: 81
VGWAX Sortino Ratio Rank: 81
VGWAX Omega Ratio Rank: 79
VGWAX Calmar Ratio Rank: 82
VGWAX Martin Ratio Rank: 80

PCRIX

PCRIX Risk / Return Rank: 88
PCRIX Sharpe Ratio Rank: 88
PCRIX Sortino Ratio Rank: 86
PCRIX Omega Ratio Rank: 82
PCRIX Calmar Ratio Rank: 95
PCRIX Martin Ratio Rank: 89

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.

VGWAX vs. PCRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Wellington Fund Admiral Shares (VGWAX) and PIMCO Commodity Real Return Strategy Fund (PCRIX). 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.

	VGWAX	PCRIX	Difference
Sharpe ratio Return per unit of total volatility	1.50	1.76	-0.27
Sortino ratio Return per unit of downside risk	2.05	2.26	-0.21
Omega ratio Gain probability vs. loss probability	1.30	1.32	-0.02
Calmar ratio Return relative to maximum drawdown	1.95	3.22	-1.27
Martin ratio Return relative to average drawdown	7.80	9.71	-1.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGWAX vs. PCRIX - Sharpe Ratio Comparison

The current VGWAX Sharpe Ratio is 1.50, which is comparable to the PCRIX Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of VGWAX and PCRIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VGWAX	PCRIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	1.76	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	-0.23	+1.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	-0.11	+0.85

Correlation

The correlation between VGWAX and PCRIX is 0.29, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

VGWAX vs. PCRIX - Dividend Comparison

VGWAX's dividend yield for the trailing twelve months is around 6.69%, more than PCRIX's 4.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VGWAX Vanguard Global Wellington Fund Admiral Shares	6.69%	6.78%	7.47%	2.66%	4.50%	3.36%	1.64%	2.08%	2.62%	0.00%	0.00%	0.00%
PCRIX PIMCO Commodity Real Return Strategy Fund	4.19%	5.61%	8.34%	16.19%	46.23%	22.74%	1.56%	4.00%	5.94%	8.14%	0.91%	5.29%

Drawdowns

VGWAX vs. PCRIX - Drawdown Comparison

The maximum VGWAX drawdown since its inception was -25.28%, smaller than the maximum PCRIX drawdown of -88.17%. Use the drawdown chart below to compare losses from any high point for VGWAX and PCRIX.

Drawdown Indicators

	VGWAX	PCRIX	Difference
Max Drawdown Largest peak-to-trough decline	-25.28%	-88.17%	+62.89%
Max Drawdown (1Y) Largest decline over 1 year	-7.04%	-9.49%	+2.45%
Max Drawdown (5Y) Largest decline over 5 years	-17.46%	-78.15%	+60.69%
Max Drawdown (10Y) Largest decline over 10 years	—	-78.15%	—
Current Drawdown Current decline from peak	-6.46%	-80.59%	+74.13%
Average Drawdown Average peak-to-trough decline	-2.94%	-51.60%	+48.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	3.15%	-1.39%

Volatility

VGWAX vs. PCRIX - Volatility Comparison

The current volatility for Vanguard Global Wellington Fund Admiral Shares (VGWAX) is 3.38%, while PIMCO Commodity Real Return Strategy Fund (PCRIX) has a volatility of 7.29%. This indicates that VGWAX experiences smaller price fluctuations and is considered to be less risky than PCRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGWAX	PCRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	7.29%	-3.91%
Volatility (6M) Calculated over the trailing 6-month period	5.80%	13.33%	-7.53%
Volatility (1Y) Calculated over the trailing 1-year period	9.58%	16.70%	-7.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.09%	35.75%	-26.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.99%	27.18%	-16.19%