PTTRX’s worst drop since 1999 was 19%
PIMCO Total Return Fund Institutional (PTTRX) fell 19% from Aug 2021 to Oct 2022. It took 4.1 years from that peak to close at a new high, in Sep 2025. Over the same years the S&P 500 fell as much as 55%.
That drop is milder than most. It ranks 100th of the 109 mutual funds PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 1999 to now
How PTTRX held up in each crash
| Crash | Years | PTTRX | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | −4.1% | −47.5% |
| Financial crisis | 2007–09 | −6.6% | −55.2% |
| COVID crash | 2020 | −8.0% | −33.7% |
| 2022 rate shock | 2022 | −17.4% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was PTTRX’s maximum drawdown?
PTTRX’s deepest fall since 1999 was 18.8%, from its high on August 2, 2021 to its low on October 24, 2022. The figure uses daily prices with dividends reinvested.
How long did PTTRX take to recover?
4.1 years. PTTRX first closed above its Aug 2021 high again on September 16, 2025.
Was PTTRX riskier than the S&P 500?
Over the same years, PTTRX’s worst drop was 18.8% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −17.8% against −47.4%.
Compare with
Daily adjusted closes from Yahoo Finance, January 5, 1999 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.