VLMIX vs. PLRIX

Last updated Jun 4, 2026

VLMIX (Vanguard Long-Term Investment-Grade Fund Investor Shares) and PLRIX (PIMCO Long Duration Total Return Fund) are both Long-Term Bond funds. Over the past 5 years, VLMIX returned 6.21%/yr vs -2.63%/yr for PLRIX. At a 0.05 correlation, their price movements are largely independent. VLMIX charges 0.20%/yr vs 0.50%/yr for PLRIX.

Performance

VLMIX vs. PLRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX) and PIMCO Long Duration Total Return Fund (PLRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VLMIX achieves a -1.26% return, which is significantly lower than PLRIX's 0.34% return.

VLMIX

• 1D: 0.60%
• 1M: 0.09%
• YTD: -1.26%
• 6M: -2.18%
• 1Y: -1.62%
• 3Y*: 6.99%
• 5Y*: 6.21%
• 10Y*: —

PLRIX

• 1D: 0.14%
• 1M: 1.61%
• YTD: 0.34%
• 6M: -0.36%
• 1Y: 8.42%
• 3Y*: 3.25%
• 5Y*: -2.63%
• 10Y*: 1.74%

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

VLMIX vs. PLRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VLMIX Vanguard Long-Term Investment-Grade Fund Investor Shares	-1.26%	1.01%	7.83%	22.39%	-9.40%	20.12%	20.25%	35.69%	4.91%	7.31%
PLRIX PIMCO Long Duration Total Return Fund	0.34%	8.78%	-2.18%	7.24%	-28.32%	-1.53%	17.77%	18.62%	-3.83%	2.74%

Correlation

The correlation between VLMIX and PLRIX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since Aug 24, 2017	0.05

Over the past year, VLMIX and PLRIX have become more correlated (0.31) than their long-term average of 0.05, meaning their price movements have been converging.

Return for Risk

VLMIX vs. PLRIX — Risk / Return Rank

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

VLMIX

VLMIX Risk / Return Rank: 2
VLMIX Sharpe Ratio Rank: 2
VLMIX Sortino Ratio Rank: 2
VLMIX Omega Ratio Rank: 2
VLMIX Calmar Ratio Rank: 2
VLMIX Martin Ratio Rank: 2

PLRIX

PLRIX Risk / Return Rank: 12
PLRIX Sharpe Ratio Rank: 13
PLRIX Sortino Ratio Rank: 13
PLRIX Omega Ratio Rank: 12
PLRIX Calmar Ratio Rank: 13
PLRIX Martin Ratio Rank: 12

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.

VLMIX vs. PLRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX) and PIMCO Long Duration Total Return Fund (PLRIX). 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.

	VLMIX	PLRIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.08	0.98	-1.06
Sortino ratio: Return per unit of downside risk	-0.02	1.45	-1.46
Omega ratio: Gain probability vs. loss probability	1.00	1.17	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.09	1.22	-1.31
Martin ratio: Return relative to average drawdown	-0.26	3.40	-3.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VLMIX vs. PLRIX - Sharpe Ratio Comparison

The current VLMIX Sharpe Ratio is -0.08, which is lower than the PLRIX Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of VLMIX and PLRIX, 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

	VLMIX	PLRIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.08	0.98	-1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	-0.21	+0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.15	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.44	+0.18

Drawdowns

VLMIX vs. PLRIX - Drawdown Comparison

The maximum VLMIX drawdown since its inception was -35.47%, smaller than the maximum PLRIX drawdown of -37.41%. Use the drawdown chart below to compare losses from any high point for VLMIX and PLRIX.

Drawdown Indicators

	VLMIX	PLRIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.47%	-37.41%	+1.94%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-6.99%	-4.78%
Max Drawdown (3Y) Largest decline over 3 years	-17.59%	-14.74%	-2.85%
Max Drawdown (5Y) Largest decline over 5 years	-21.85%	-36.81%	+14.96%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.41%	—
Current Drawdown Current decline from peak	-8.41%	-20.44%	+12.03%
Average Drawdown Average peak-to-trough decline	-4.81%	-8.43%	+3.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	2.49%	+1.63%

Volatility

VLMIX vs. PLRIX - Volatility Comparison

Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX) has a higher volatility of 3.73% compared to PIMCO Long Duration Total Return Fund (PLRIX) at 2.99%. This indicates that VLMIX's price experiences larger fluctuations and is considered to be riskier than PLRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLMIX	PLRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	2.99%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	10.11%	6.25%	+3.86%
Volatility (1Y) Calculated over the trailing 1-year period	13.46%	8.66%	+4.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.87%	12.48%	+4.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.71%	11.47%	+7.24%

VLMIX vs. PLRIX - Expense Ratio Comparison

VLMIX has a 0.20% expense ratio, which is lower than PLRIX's 0.50% expense ratio.

Dividends

VLMIX vs. PLRIX - Dividend Comparison

VLMIX's dividend yield for the trailing twelve months is around 2.16%, less than PLRIX's 4.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PLRIX PIMCO Long Duration Total Return Fund	4.71%	4.57%	3.75%	3.19%	3.32%	6.55%	13.35%	11.38%	5.19%	6.51%	9.97%	8.51%
VLMIX Vanguard Long-Term Investment-Grade Fund Investor Shares	2.16%	2.14%	1.21%	0.22%	7.46%	8.18%	8.10%	1.63%	5.11%	1.61%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VLMIX and PLRIX in my portfolio?

VLMIX and PLRIX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLMIX or PLRIX?

VLMIX has higher volatility (3.73%) compared to PLRIX (2.99%). In terms of maximum drawdown, VLMIX dropped -35.47% vs PLRIX's -37.41%.

Which has better risk-adjusted returns?

PLRIX currently has the higher Sharpe Ratio (0.98 vs -0.08), 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.