VMBS vs. PMZIX
Compare and contrast key facts about Vanguard Mortgage-Backed Securities ETF (VMBS) and PIMCO Mortgage Opportunities and Bond Fund (PMZIX).
VMBS is a passively managed fund by Vanguard that tracks the performance of the Barclays Capital U.S. MBS Index. It was launched on Nov 19, 2009. PMZIX is managed by PIMCO. It was launched on Oct 21, 2012.
Performance
VMBS vs. PMZIX - Performance Comparison
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VMBS vs. PMZIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMBS Vanguard Mortgage-Backed Securities ETF | 0.41% | 8.36% | 1.70% | 5.34% | -11.90% | -1.28% | 3.76% | 6.19% | 0.91% | 2.47% |
PMZIX PIMCO Mortgage Opportunities and Bond Fund | -0.31% | 8.50% | 5.74% | 7.03% | -8.00% | 2.42% | 5.44% | 5.04% | 1.55% | 5.50% |
Returns By Period
In the year-to-date period, VMBS achieves a 0.41% return, which is significantly higher than PMZIX's -0.31% return. Over the past 10 years, VMBS has underperformed PMZIX with an annualized return of 1.41%, while PMZIX has yielded a comparatively higher 3.59% annualized return.
VMBS
- 1D
- 0.21%
- 1M
- -1.57%
- YTD
- 0.41%
- 6M
- 2.06%
- 1Y
- 5.79%
- 3Y*
- 4.29%
- 5Y*
- 0.49%
- 10Y*
- 1.41%
PMZIX
- 1D
- 0.43%
- 1M
- -1.89%
- YTD
- -0.31%
- 6M
- 1.54%
- 1Y
- 5.09%
- 3Y*
- 6.31%
- 5Y*
- 2.81%
- 10Y*
- 3.59%
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VMBS vs. PMZIX - Expense Ratio Comparison
VMBS has a 0.04% expense ratio, which is lower than PMZIX's 0.60% expense ratio.
Return for Risk
VMBS vs. PMZIX — Risk / Return Rank
VMBS
PMZIX
VMBS vs. PMZIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mortgage-Backed Securities ETF (VMBS) and PIMCO Mortgage Opportunities and Bond Fund (PMZIX). 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.
| VMBS | PMZIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.16 | 1.56 | -0.40 |
Sortino ratioReturn per unit of downside risk | 1.67 | 2.47 | -0.80 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.31 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 1.95 | 2.45 | -0.50 |
Martin ratioReturn relative to average drawdown | 6.10 | 8.69 | -2.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VMBS | PMZIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 1.56 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | 0.75 | -0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | 1.13 | -0.86 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 1.22 | -0.76 |
Correlation
The correlation between VMBS and PMZIX is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
VMBS vs. PMZIX - Dividend Comparison
VMBS's dividend yield for the trailing twelve months is around 4.23%, less than PMZIX's 5.20% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMBS Vanguard Mortgage-Backed Securities ETF | 4.23% | 4.20% | 3.94% | 3.31% | 2.35% | 1.02% | 2.01% | 2.77% | 2.72% | 2.16% | 2.10% | 2.12% |
PMZIX PIMCO Mortgage Opportunities and Bond Fund | 5.20% | 5.84% | 7.59% | 6.74% | 5.87% | 3.99% | 3.96% | 4.38% | 4.34% | 3.62% | 5.24% | 4.08% |
Drawdowns
VMBS vs. PMZIX - Drawdown Comparison
The maximum VMBS drawdown since its inception was -17.47%, which is greater than PMZIX's maximum drawdown of -10.44%. Use the drawdown chart below to compare losses from any high point for VMBS and PMZIX.
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Drawdown Indicators
| VMBS | PMZIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.47% | -10.44% | -7.03% |
Max Drawdown (1Y)Largest decline over 1 year | -3.00% | -2.42% | -0.58% |
Max Drawdown (5Y)Largest decline over 5 years | -17.12% | -10.44% | -6.68% |
Max Drawdown (10Y)Largest decline over 10 years | -17.47% | -10.44% | -7.03% |
Current DrawdownCurrent decline from peak | -1.57% | -1.89% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -2.51% | -1.19% | -1.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.68% | +0.28% |
Volatility
VMBS vs. PMZIX - Volatility Comparison
Vanguard Mortgage-Backed Securities ETF (VMBS) has a higher volatility of 1.90% compared to PIMCO Mortgage Opportunities and Bond Fund (PMZIX) at 1.26%. This indicates that VMBS's price experiences larger fluctuations and is considered to be riskier than PMZIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMBS | PMZIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.90% | 1.26% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 2.13% | +0.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.00% | 3.61% | +1.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.71% | 3.79% | +2.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.37% | 3.19% | +2.18% |