BTZ vs. PDI

Last updated Jun 4, 2026

BTZ (BlackRock Credit Allocation Income Trust) and PDI (PIMCO Dynamic Income Fund) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, BTZ returned 5.69%/yr vs 7.53%/yr for PDI. At a 0.30 correlation, their price movements are largely independent.

Performance

BTZ vs. PDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Credit Allocation Income Trust (BTZ) and PIMCO Dynamic Income Fund (PDI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTZ achieves a -2.90% return, which is significantly lower than PDI's 0.45% return. Over the past 10 years, BTZ has underperformed PDI with an annualized return of 5.69%, while PDI has yielded a comparatively higher 7.53% annualized return.

BTZ

• 1D: -0.69%
• 1M: -0.74%
• YTD: -2.90%
• 6M: -2.86%
• 1Y: 3.89%
• 3Y*: 9.36%
• 5Y*: 0.81%
• 10Y*: 5.69%

PDI

• 1D: 0.06%
• 1M: -3.25%
• YTD: 0.45%
• 6M: -0.44%
• 1Y: 2.55%
• 3Y*: 11.73%
• 5Y*: 2.68%
• 10Y*: 7.53%

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

BTZ vs. PDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTZ BlackRock Credit Allocation Income Trust	-2.90%	13.70%	11.25%	12.78%	-27.11%	9.34%	13.25%	33.62%	-10.31%	9.36%
PDI PIMCO Dynamic Income Fund	0.45%	11.03%	17.18%	11.99%	-16.99%	7.81%	-9.96%	22.23%	7.35%	18.59%

Correlation

The correlation between BTZ and PDI is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since May 29, 2012	0.30

Fundamentals

Market Cap BTZ : $942.58M PDI : $6.90B
EPS BTZ : $1.60 PDI : $3.86
PE Ratio BTZ : 6.31 PDI : 4.34
PEG Ratio BTZ : 0.14 PDI : 0.07
PS Ratio BTZ : 5.77 PDI : 3.21
PB Ratio BTZ : 0.89 PDI : 0.93
Total Revenue (TTM) BTZ : $163.42M PDI : $2.03B
Gross Profit (TTM) BTZ : $152.69M PDI : $1.51B
EBITDA (TTM) BTZ : $120.76M PDI : $2.09B

Return for Risk

BTZ vs. PDI — Risk / Return Rank

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

BTZ

BTZ Risk / Return Rank: 51
BTZ Sharpe Ratio Rank: 56
BTZ Sortino Ratio Rank: 47
BTZ Omega Ratio Rank: 46
BTZ Calmar Ratio Rank: 51
BTZ Martin Ratio Rank: 55

PDI

PDI Risk / Return Rank: 44
PDI Sharpe Ratio Rank: 48
PDI Sortino Ratio Rank: 38
PDI Omega Ratio Rank: 40
PDI Calmar Ratio Rank: 46
PDI Martin Ratio Rank: 46

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.

BTZ vs. PDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Credit Allocation Income Trust (BTZ) and PIMCO Dynamic Income Fund (PDI). 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.

	BTZ	PDI	Difference
Sharpe ratio Return per unit of total volatility	0.44	0.23	+0.21
Sortino ratio Return per unit of downside risk	0.71	0.36	+0.35
Omega ratio Gain probability vs. loss probability	1.09	1.06	+0.03
Calmar ratio Return relative to maximum drawdown	0.42	0.23	+0.19
Martin ratio Return relative to average drawdown	1.41	0.52	+0.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTZ vs. PDI - Sharpe Ratio Comparison

The current BTZ Sharpe Ratio is 0.44, which is higher than the PDI Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of BTZ and PDI, 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

	BTZ	PDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.44	0.23	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.17	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.40	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.59	-0.40

Drawdowns

BTZ vs. PDI - Drawdown Comparison

The maximum BTZ drawdown since its inception was -74.62%, which is greater than PDI's maximum drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for BTZ and PDI.

Drawdown Indicators

	BTZ	PDI	Difference
Max Drawdown Largest peak-to-trough decline	-74.62%	-46.47%	-28.15%
Max Drawdown (1Y) Largest decline over 1 year	-9.29%	-10.95%	+1.66%
Max Drawdown (3Y) Largest decline over 3 years	-9.29%	-17.55%	+8.26%
Max Drawdown (5Y) Largest decline over 5 years	-34.67%	-27.23%	-7.44%
Max Drawdown (10Y) Largest decline over 10 years	-35.32%	-46.47%	+11.15%
Current Drawdown Current decline from peak	-4.39%	-7.41%	+3.02%
Average Drawdown Average peak-to-trough decline	-12.50%	-6.22%	-6.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	4.92%	-2.15%

Volatility

BTZ vs. PDI - Volatility Comparison

The current volatility for BlackRock Credit Allocation Income Trust (BTZ) is 3.05%, while PIMCO Dynamic Income Fund (PDI) has a volatility of 3.27%. This indicates that BTZ experiences smaller price fluctuations and is considered to be less risky than PDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTZ	PDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	3.27%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	7.64%	8.12%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	8.97%	11.19%	-2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.85%	15.53%	-2.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.13%	19.05%	-5.92%

Dividends

BTZ vs. PDI - Dividend Comparison

BTZ's dividend yield for the trailing twelve months is around 9.97%, less than PDI's 15.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTZ BlackRock Credit Allocation Income Trust	9.97%	9.30%	9.63%	9.76%	9.14%	6.69%	6.84%	6.23%	7.19%	6.25%	6.90%	7.83%
PDI PIMCO Dynamic Income Fund	15.82%	14.94%	14.43%	14.74%	17.84%	10.21%	10.01%	9.45%	10.78%	8.81%	14.79%	18.70%

Financials

Frequently Asked Questions

Can I hold both BTZ and PDI in my portfolio?

BTZ and PDI have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTZ or PDI?

PDI has higher volatility (3.27%) compared to BTZ (3.05%). In terms of maximum drawdown, BTZ dropped -74.62% vs PDI's -46.47%.

Which has better risk-adjusted returns?

BTZ currently has the higher Sharpe Ratio (0.44 vs 0.23), 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.