VWETX vs. PTTRX

Last updated Jun 5, 2026

VWETX (Vanguard Long-Term Investment-Grade Fund Admiral Shares) and PTTRX (PIMCO Total Return Fund Institutional Class) are both Total Bond Market funds. Over the past 10 years, VWETX returned 1.67%/yr vs 2.27%/yr for PTTRX. Their correlation of 0.82 suggests significant overlap in exposure. VWETX charges 0.12%/yr vs 0.47%/yr for PTTRX.

Performance

VWETX vs. PTTRX - Performance Comparison

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

Returns By Period

In the year-to-date period, VWETX achieves a 0.46% return, which is significantly higher than PTTRX's 0.30% return. Over the past 10 years, VWETX has underperformed PTTRX with an annualized return of 1.67%, while PTTRX has yielded a comparatively higher 2.27% annualized return.

VWETX

• 1D: -0.40%
• 1M: 0.71%
• YTD: 0.46%
• 6M: -0.16%
• 1Y: 6.09%
• 3Y*: 3.30%
• 5Y*: -2.37%
• 10Y*: 1.67%

PTTRX

• 1D: -0.34%
• 1M: 0.30%
• YTD: 0.30%
• 6M: 0.58%
• 1Y: 6.34%
• 3Y*: 5.33%
• 5Y*: 0.61%
• 10Y*: 2.27%

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

VWETX vs. PTTRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VWETX Vanguard Long-Term Investment-Grade Fund Admiral Shares	0.46%	7.31%	-2.70%	8.92%	-25.54%	-2.79%	15.50%	20.56%	-6.17%	12.08%
PTTRX PIMCO Total Return Fund Institutional Class	0.30%	9.35%	2.62%	6.33%	-14.72%	-0.59%	8.88%	8.36%	-0.24%	5.13%

Correlation

The correlation between VWETX and PTTRX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Feb 13, 2001	0.82

The correlation between VWETX and PTTRX has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.

Return for Risk

VWETX vs. PTTRX — Risk / Return Rank

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

VWETX

VWETX Risk / Return Rank: 13
VWETX Sharpe Ratio Rank: 12
VWETX Sortino Ratio Rank: 12
VWETX Omega Ratio Rank: 11
VWETX Calmar Ratio Rank: 17
VWETX Martin Ratio Rank: 13

PTTRX

PTTRX Risk / Return Rank: 27
PTTRX Sharpe Ratio Rank: 28
PTTRX Sortino Ratio Rank: 29
PTTRX Omega Ratio Rank: 29
PTTRX Calmar Ratio Rank: 27
PTTRX Martin Ratio Rank: 24

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.

VWETX vs. PTTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Investment-Grade Fund Admiral Shares (VWETX) and PIMCO Total Return Fund Institutional Class (PTTRX). 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.

	VWETX	PTTRX	Difference
Sharpe ratio: Return per unit of total volatility	0.94	1.53	-0.59
Sortino ratio: Return per unit of downside risk	1.40	2.25	-0.85
Omega ratio: Gain probability vs. loss probability	1.16	1.28	-0.12
Calmar ratio: Return relative to maximum drawdown	1.45	1.94	-0.49
Martin ratio: Return relative to average drawdown	3.69	5.97	-2.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VWETX vs. PTTRX - Sharpe Ratio Comparison

The current VWETX Sharpe Ratio is 0.94, which is lower than the PTTRX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of VWETX and PTTRX, 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

	VWETX	PTTRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	1.53	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.20	0.10	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	0.44	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	1.15	-0.66

Drawdowns

VWETX vs. PTTRX - Drawdown Comparison

The maximum VWETX drawdown since its inception was -36.04%, which is greater than PTTRX's maximum drawdown of -19.28%. Use the drawdown chart below to compare losses from any high point for VWETX and PTTRX.

Drawdown Indicators

	VWETX	PTTRX	Difference
Max Drawdown Largest peak-to-trough decline	-36.04%	-19.28%	-16.76%
Max Drawdown (1Y) Largest decline over 1 year	-5.12%	-3.69%	-1.43%
Max Drawdown (3Y) Largest decline over 3 years	-13.33%	-6.18%	-7.15%
Max Drawdown (5Y) Largest decline over 5 years	-34.42%	-19.28%	-15.14%
Max Drawdown (10Y) Largest decline over 10 years	-36.04%	-19.28%	-16.76%
Current Drawdown Current decline from peak	-18.87%	-1.82%	-17.05%
Average Drawdown Average peak-to-trough decline	-7.20%	-2.19%	-5.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	1.19%	+0.82%

Volatility

VWETX vs. PTTRX - Volatility Comparison

Vanguard Long-Term Investment-Grade Fund Admiral Shares (VWETX) has a higher volatility of 2.50% compared to PIMCO Total Return Fund Institutional Class (PTTRX) at 1.78%. This indicates that VWETX's price experiences larger fluctuations and is considered to be riskier than PTTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWETX	PTTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	1.78%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	5.54%	3.55%	+1.99%
Volatility (1Y) Calculated over the trailing 1-year period	7.86%	4.67%	+3.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.10%	6.27%	+5.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.86%	5.23%	+5.63%

VWETX vs. PTTRX - Expense Ratio Comparison

VWETX has a 0.12% expense ratio, which is lower than PTTRX's 0.47% expense ratio.

Dividends

VWETX vs. PTTRX - Dividend Comparison

VWETX's dividend yield for the trailing twelve months is around 5.19%, more than PTTRX's 4.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PTTRX PIMCO Total Return Fund Institutional Class	4.56%	4.47%	4.61%	3.81%	3.63%	2.59%	6.11%	3.96%	3.13%	2.63%	3.02%	6.64%
VWETX Vanguard Long-Term Investment-Grade Fund Admiral Shares	5.19%	5.06%	5.10%	4.26%	4.54%	4.86%	6.99%	5.11%	4.40%	5.60%	6.25%	7.49%

Frequently Asked Questions

Can I hold both VWETX and PTTRX in my portfolio?

With a correlation of 0.90, VWETX and PTTRX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VWETX or PTTRX?

VWETX has higher volatility (2.50%) compared to PTTRX (1.78%). In terms of maximum drawdown, VWETX dropped -36.04% vs PTTRX's -19.28%.

Which has better risk-adjusted returns?

PTTRX currently has the higher Sharpe Ratio (1.53 vs 0.94), 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.