2012 return on PTTRX was over 10%, which IMHO is very good. Up to today, 2013 YTD return is
- .33% (1/3 of 1 percent) which is immaterial. As has been pointed out by posters, the NAV has been reduced by capital gain distributions and dividends. But, although the NAV has gone down, those distributions don't decrease the return. In my deferred comp, they go to buy more shares for me, and the total amount of my investment stays the same.
Bottom line - so far, IMHO, Bill is doing quite well.
Disclosure - My portfolio is allocated between bonds, mostly PTTRX, (50%) and stocks (50%). My stock allocation is deversified between international, large, mid and small cap.
For someone like me (retired) I am willing to give up some upward movement to have less chance of a major loss. PTTRX offers an excellent return for a relatively low risk. I'm not sure you could say that about the S&P.