BOND vs. PDIIX

Last updated Jun 5, 2026

BOND (PIMCO Active Bond ETF) and PDIIX (PIMCO Diversified Income Fund) are both funds - BOND is a Intermediate Core-Plus Bond fund actively managed by PIMCO, while PDIIX is a Multisector Bonds fund managed by PIMCO. Over the past 10 years, BOND returned 2.21%/yr vs 4.32%/yr for PDIIX. A 0.55 correlation means they provide meaningful diversification when combined. BOND charges 0.54%/yr vs 0.75%/yr for PDIIX.

Performance

BOND vs. PDIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Active Bond ETF (BOND) and PIMCO Diversified Income Fund (PDIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOND achieves a 0.66% return, which is significantly lower than PDIIX's 1.34% return. Over the past 10 years, BOND has underperformed PDIIX with an annualized return of 2.21%, while PDIIX has yielded a comparatively higher 4.32% annualized return.

BOND

• 1D: 0.19%
• 1M: 0.35%
• YTD: 0.66%
• 6M: 0.84%
• 1Y: 6.19%
• 3Y*: 5.08%
• 5Y*: 0.54%
• 10Y*: 2.21%

PDIIX

• 1D: -0.20%
• 1M: 0.68%
• YTD: 1.34%
• 6M: 1.72%
• 1Y: 8.30%
• 3Y*: 8.62%
• 5Y*: 2.51%
• 10Y*: 4.32%

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

BOND vs. PDIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BOND PIMCO Active Bond ETF	0.66%	8.39%	2.77%	6.48%	-14.57%	-0.77%	7.80%	8.54%	0.08%	4.76%
PDIIX PIMCO Diversified Income Fund	1.34%	10.42%	6.35%	10.41%	-14.70%	0.42%	6.43%	13.05%	-0.97%	8.87%

Correlation

The correlation between BOND and PDIIX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Mar 2, 2012	0.55

Over the past year, BOND and PDIIX have become more correlated (0.76) than their long-term average of 0.55, meaning their price movements have been converging.

Return for Risk

BOND vs. PDIIX — Risk / Return Rank

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

BOND

BOND Risk / Return Rank: 45
BOND Sharpe Ratio Rank: 46
BOND Sortino Ratio Rank: 48
BOND Omega Ratio Rank: 46
BOND Calmar Ratio Rank: 42
BOND Martin Ratio Rank: 42

PDIIX

PDIIX Risk / Return Rank: 58
PDIIX Sharpe Ratio Rank: 59
PDIIX Sortino Ratio Rank: 73
PDIIX Omega Ratio Rank: 69
PDIIX Calmar Ratio Rank: 42
PDIIX Martin Ratio Rank: 49

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.

BOND vs. PDIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Active Bond ETF (BOND) and PIMCO Diversified Income Fund (PDIIX). 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.

	BOND	PDIIX	Difference
Sharpe ratio: Return per unit of total volatility	1.58	2.26	-0.68
Sortino ratio: Return per unit of downside risk	2.32	3.57	-1.25
Omega ratio: Gain probability vs. loss probability	1.28	1.46	-0.18
Calmar ratio: Return relative to maximum drawdown	2.06	2.45	-0.39
Martin ratio: Return relative to average drawdown	6.56	10.02	-3.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BOND vs. PDIIX - Sharpe Ratio Comparison

The current BOND Sharpe Ratio is 1.58, which is comparable to the PDIIX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of BOND and PDIIX, 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

	BOND	PDIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	2.26	-0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.50	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.89	-0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	1.22	-0.58

Drawdowns

BOND vs. PDIIX - Drawdown Comparison

The maximum BOND drawdown since its inception was -19.71%, smaller than the maximum PDIIX drawdown of -21.96%. Use the drawdown chart below to compare losses from any high point for BOND and PDIIX.

Drawdown Indicators

	BOND	PDIIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.71%	-21.96%	+2.25%
Max Drawdown (1Y) Largest decline over 1 year	-3.01%	-3.55%	+0.54%
Max Drawdown (3Y) Largest decline over 3 years	-6.12%	-4.27%	-1.85%
Max Drawdown (5Y) Largest decline over 5 years	-19.71%	-20.50%	+0.79%
Max Drawdown (10Y) Largest decline over 10 years	-19.71%	-20.50%	+0.79%
Current Drawdown Current decline from peak	-1.39%	-0.26%	-1.13%
Average Drawdown Average peak-to-trough decline	-3.50%	-2.81%	-0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.87%	+0.08%

Volatility

BOND vs. PDIIX - Volatility Comparison

PIMCO Active Bond ETF (BOND) and PIMCO Diversified Income Fund (PDIIX) have volatilities of 1.41% and 1.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOND	PDIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	1.47%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	2.89%	3.15%	-0.26%
Volatility (1Y) Calculated over the trailing 1-year period	3.97%	3.85%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.76%	5.00%	+0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.09%	4.89%	+0.20%

BOND vs. PDIIX - Expense Ratio Comparison

BOND has a 0.54% expense ratio, which is lower than PDIIX's 0.75% expense ratio.

Dividends

BOND vs. PDIIX - Dividend Comparison

BOND's dividend yield for the trailing twelve months is around 5.18%, less than PDIIX's 5.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BOND PIMCO Active Bond ETF	5.18%	5.11%	5.02%	4.06%	3.44%	2.58%	2.66%	3.38%	3.18%	2.87%	2.85%	4.14%
PDIIX PIMCO Diversified Income Fund	5.53%	5.42%	5.18%	4.66%	3.91%	3.65%	3.68%	5.04%	4.46%	4.84%	4.94%	7.68%

Frequently Asked Questions

Can I hold both BOND and PDIIX in my portfolio?

BOND and PDIIX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOND or PDIIX?

PDIIX has higher volatility (1.47%) compared to BOND (1.41%). In terms of maximum drawdown, BOND dropped -19.71% vs PDIIX's -21.96%.

Which has better risk-adjusted returns?

PDIIX currently has the higher Sharpe Ratio (2.26 vs 1.58), 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.