VICBX vs. PTY
VICBX (Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares) and PTY (PIMCO Corporate & Income Opportunity Fund) are both Corporate Bonds funds. Over the past 10 years, VICBX returned 3.17%/yr vs 8.71%/yr for PTY. At a 0.07 correlation, their price movements are largely independent. VICBX charges 0.05%/yr vs 1.19%/yr for PTY.
Performance
VICBX vs. PTY - Performance Comparison
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Returns By Period
In the year-to-date period, VICBX achieves a 0.75% return, which is significantly higher than PTY's -3.12% return. Over the past 10 years, VICBX has underperformed PTY with an annualized return of 3.17%, while PTY has yielded a comparatively higher 8.71% annualized return.
VICBX
- 1D
- 0.44%
- 1M
- 0.67%
- YTD
- 0.75%
- 6M
- 0.68%
- 1Y
- 5.23%
- 3Y*
- 6.41%
- 5Y*
- 1.34%
- 10Y*
- 3.17%
PTY
- 1D
- 0.85%
- 1M
- 1.10%
- YTD
- -3.12%
- 6M
- -2.67%
- 1Y
- -4.03%
- 3Y*
- 5.35%
- 5Y*
- -0.21%
- 10Y*
- 8.71%
VICBX vs. PTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VICBX Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares | 0.75% | 9.37% | 3.67% | 8.87% | -14.06% | -1.50% | 9.57% | 15.96% | -1.72% | 5.50% |
PTY PIMCO Corporate & Income Opportunity Fund | -3.12% | -0.51% | 19.87% | 22.56% | -18.71% | 0.40% | 3.24% | 35.36% | 2.49% | 26.63% |
Correlation
The correlation between VICBX and PTY 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 | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.07 |
Over the past year, VICBX and PTY have become more correlated (0.29) than their long-term average of 0.07, meaning their price movements have been converging.
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Return for Risk
VICBX vs. PTY — Risk / Return Rank
VICBX
PTY
VICBX vs. PTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares (VICBX) and PIMCO Corporate & Income Opportunity Fund (PTY). 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.
| VICBX | PTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.73 | ||
| Sortino ratioReturn per unit of downside risk | +2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.94 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | -0.26 | +2.06 |
| Martin ratioReturn relative to average drawdown | 5.67 | -0.49 | +6.16 |
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Drawdowns
VICBX vs. PTY - Drawdown Comparison
The maximum VICBX drawdown since its inception was -20.55%, smaller than the maximum PTY drawdown of -60.86%. Use the drawdown chart below to compare losses from any high point for VICBX and PTY.
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Drawdown Indicators
| VICBX | PTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.55% | -60.86% | +40.31% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -15.44% | +12.49% |
Max Drawdown (3Y)Largest decline over 3 years | -5.98% | -16.04% | +10.06% |
Max Drawdown (5Y)Largest decline over 5 years | -20.55% | -41.38% | +20.83% |
Max Drawdown (10Y)Largest decline over 10 years | -20.55% | -46.55% | +26.00% |
Current DrawdownCurrent decline from peak | -0.78% | -12.08% | +11.30% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -8.62% | +5.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 8.19% | -7.26% |
Volatility
VICBX vs. PTY - Volatility Comparison
The current volatility for Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares (VICBX) is 1.23%, while PIMCO Corporate & Income Opportunity Fund (PTY) has a volatility of 2.22%. This indicates that VICBX experiences smaller price fluctuations and is considered to be less risky than PTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VICBX | PTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 2.22% | -0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 3.00% | 7.73% | -4.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.90% | 10.96% | -7.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.17% | 17.27% | -11.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.34% | 21.18% | -15.84% |
VICBX vs. PTY - Expense Ratio Comparison
VICBX has a 0.05% expense ratio, which is lower than PTY's 1.19% expense ratio.
Dividends
VICBX vs. PTY - Dividend Comparison
VICBX's dividend yield for the trailing twelve months is around 4.77%, less than PTY's 12.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PTY PIMCO Corporate & Income Opportunity Fund | 12.08% | 11.05% | 9.92% | 10.77% | 13.12% | 9.16% | 8.74% | 8.37% | 10.63% | 9.48% | 12.09% | 11.92% |
VICBX Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares | 4.77% | 4.61% | 4.79% | 3.72% | 3.02% | 2.82% | 2.79% | 5.01% | 3.64% | 3.23% | 3.32% | 3.39% |
Frequently Asked Questions
VICBX and PTY 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 (2.22%) compared to VICBX (1.23%). In terms of maximum drawdown, VICBX dropped -20.55% vs PTY's -60.86%.
VICBX currently has the higher Sharpe Ratio (1.36 vs -0.37), 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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