VSGDX vs. PDMIX

Last updated Jun 23, 2026

VSGDX (Vanguard Short-Term Federal Fund Admiral Shares) and PDMIX (PIMCO GNMA and Government Securities Fund) are both mutual funds - VSGDX is a Total Bond Market fund managed by Vanguard, while PDMIX is a Government Bonds fund managed by PIMCO. Over the past 10 years, VSGDX returned 1.87%/yr vs 1.56%/yr for PDMIX. A 0.74 correlation means they provide meaningful diversification when combined. VSGDX charges 0.10%/yr vs 0.50%/yr for PDMIX.

Performance

VSGDX vs. PDMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Short-Term Federal Fund Admiral Shares (VSGDX) 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, VSGDX achieves a 0.35% return, which is significantly lower than PDMIX's 1.23% return. Over the past 10 years, VSGDX has outperformed PDMIX with an annualized return of 1.87%, while PDMIX has yielded a comparatively lower 1.56% annualized return.

VSGDX

• 1D: 0.10%
• 1M: 0.23%
• YTD: 0.35%
• 6M: 0.67%
• 1Y: 3.61%
• 3Y*: 4.57%
• 5Y*: 1.67%
• 10Y*: 1.87%

PDMIX

• 1D: 0.32%
• 1M: 0.88%
• YTD: 1.23%
• 6M: 1.42%
• 1Y: 6.29%
• 3Y*: 4.79%
• 5Y*: 0.30%
• 10Y*: 1.56%

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

VSGDX vs. PDMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSGDX Vanguard Short-Term Federal Fund Admiral Shares	0.35%	5.94%	4.26%	3.92%	-5.22%	-0.58%	4.46%	4.21%	1.37%	0.80%
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 VSGDX and PDMIX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Feb 12, 2001	0.74

The correlation between VSGDX and PDMIX has been stable across timeframes, ranging from 0.74 to 0.83 - a consistent structural relationship.

Return for Risk

VSGDX vs. PDMIX — Risk / Return Rank

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

VSGDX

VSGDX Risk / Return Rank: 48
VSGDX Sharpe Ratio Rank: 38
VSGDX Sortino Ratio Rank: 52
VSGDX Omega Ratio Rank: 47
VSGDX Calmar Ratio Rank: 54
VSGDX Martin Ratio Rank: 47

PDMIX

PDMIX Risk / Return Rank: 31
PDMIX Sharpe Ratio Rank: 30
PDMIX Sortino Ratio Rank: 32
PDMIX Omega Ratio Rank: 31
PDMIX Calmar Ratio Rank: 32
PDMIX Martin Ratio Rank: 30

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.

VSGDX vs. PDMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Federal Fund Admiral Shares (VSGDX) 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.

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.

	VSGDX	PDMIX	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.47	+0.19
Sortino ratio: Return per unit of downside risk	2.81	2.20	+0.61
Omega ratio: Gain probability vs. loss probability	1.35	1.27	+0.07
Calmar ratio: Return relative to maximum drawdown	2.69	1.99	+0.69
Martin ratio: Return relative to average drawdown	9.21	6.44	+2.77

VSGDX vs. PDMIX - Sharpe Ratio Comparison

The current VSGDX Sharpe Ratio is 1.66, which is comparable to the PDMIX Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of VSGDX 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.

Drawdowns

VSGDX vs. PDMIX - Drawdown Comparison

The maximum VSGDX drawdown since its inception was -7.29%, smaller than the maximum PDMIX drawdown of -18.64%. Use the drawdown chart below to compare losses from any high point for VSGDX and PDMIX.

Drawdown Indicators

	VSGDX	PDMIX	Difference
Max Drawdown Largest peak-to-trough decline	-7.29%	-18.64%	+11.35%
Max Drawdown (1Y) Largest decline over 1 year	-1.35%	-3.24%	+1.89%
Max Drawdown (3Y) Largest decline over 3 years	-1.35%	-7.13%	+5.78%
Max Drawdown (5Y) Largest decline over 5 years	-7.29%	-18.59%	+11.30%
Max Drawdown (10Y) Largest decline over 10 years	-7.29%	-18.64%	+11.35%
Current Drawdown Current decline from peak	-0.67%	-1.34%	+0.67%
Average Drawdown Average peak-to-trough decline	-0.73%	-1.75%	+1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.39%	1.00%	-0.61%

Volatility

VSGDX vs. PDMIX - Volatility Comparison

The current volatility for Vanguard Short-Term Federal Fund Admiral Shares (VSGDX) is 0.83%, while PIMCO GNMA and Government Securities Fund (PDMIX) has a volatility of 1.51%. This indicates that VSGDX 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

	VSGDX	PDMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.83%	1.51%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	1.65%	3.41%	-1.76%
Volatility (1Y) Calculated over the trailing 1-year period	2.18%	4.41%	-2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.69%	6.68%	-3.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.17%	5.07%	-2.90%

VSGDX vs. PDMIX - Expense Ratio Comparison

VSGDX has a 0.10% expense ratio, which is lower than PDMIX's 0.50% expense ratio.

Dividends

VSGDX vs. PDMIX - Dividend Comparison

VSGDX's dividend yield for the trailing twelve months is around 3.96%, 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%
VSGDX Vanguard Short-Term Federal Fund Admiral Shares	3.96%	3.79%	3.56%	3.42%	1.78%	1.45%	1.78%	2.42%	2.02%	1.46%	1.43%	1.30%

Frequently Asked Questions

Can I hold both VSGDX and PDMIX in my portfolio?

VSGDX and PDMIX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSGDX or PDMIX?

PDMIX has higher volatility (1.51%) compared to VSGDX (0.83%). In terms of maximum drawdown, VSGDX dropped -7.29% vs PDMIX's -18.64%.

Which has better risk-adjusted returns?

VSGDX currently has the higher Sharpe Ratio (1.66 vs 1.47), 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.