CEFS vs. PDI
CEFS (Saba Closed-End Funds ETF) is Actively Managed fund actively managed by Exchange Traded Concepts, while PDI (PIMCO Dynamic Income Fund) is a stock. Over the past 5 years, CEFS returned 13.54%/yr vs 2.17%/yr for PDI. Their 0.34 correlation means their historical movements had little consistent relationship.
Performance
CEFS vs. PDI - Performance Comparison
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Returns By Period
In the year-to-date period, CEFS achieves a 12.79% return, which is significantly higher than PDI's -1.83% return.
CEFS
- 1D
- 0.60%
- 1M
- -2.52%
- 6M
- 11.34%
- YTD
- 12.79%
- 1Y
- 21.51%
- 3Y*
- 20.18%
- 5Y*
- 13.54%
- 10Y*
- —
- ALL TIME*
- 11.83%
PDI
- 1D
- -0.50%
- 1M
- -3.40%
- 6M
- -6.40%
- YTD
- -1.83%
- 1Y
- -4.11%
- 3Y*
- 7.98%
- 5Y*
- 2.17%
- 10Y*
- 6.50%
- ALL TIME*
- 9.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.11M | $2.21M | $2.24M | |
| $44.75M | $42.43M | $45.64M |
CEFS vs. PDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEFS Saba Closed-End Funds ETF | 12.79% | 16.67% | 23.48% | 20.99% | -7.08% | 17.86% | 3.40% | 28.41% | -9.97% | 7.92% |
PDI PIMCO Dynamic Income Fund | -1.83% | 11.03% | 17.18% | 11.99% | -16.99% | 7.81% | -9.96% | 22.23% | 7.35% | 5.62% |
Correlation
The correlation between CEFS and PDI is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2017 | 0.34 |
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Return for Risk
CEFS vs. PDI — Risk / Return Rank
CEFS
PDI
CEFS vs. PDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saba Closed-End Funds ETF (CEFS) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CEFS | PDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.34 | ||
| Sortino ratioReturn per unit of downside risk | +3.26 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 0.94 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 3.81 | -0.38 | +4.19 |
| Martin ratioReturn relative to average drawdown | 13.08 | -0.71 | +13.79 |
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Drawdowns
CEFS vs. PDI - Drawdown Comparison
The maximum CEFS drawdown since its inception was -38.99%, smaller than the maximum PDI drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for CEFS and PDI.
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Drawdown Indicators
| CEFS | PDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.99% | -46.47% | +7.48% |
Max Drawdown (1Y)Largest decline over 1 year | -5.67% | -10.95% | +5.28% |
Max Drawdown (3Y)Largest decline over 3 years | -13.37% | -17.55% | +4.18% |
Max Drawdown (5Y)Largest decline over 5 years | -16.85% | -27.19% | +10.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.47% | — |
Current DrawdownCurrent decline from peak | -2.52% | -9.50% | +6.98% |
Average DrawdownAverage peak-to-trough decline | -3.63% | -6.23% | +2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 5.81% | -4.16% |
Volatility
CEFS vs. PDI - Volatility Comparison
Saba Closed-End Funds ETF (CEFS) has a higher volatility of 3.26% compared to PIMCO Dynamic Income Fund (PDI) at 3.07%. This indicates that CEFS's price experiences larger fluctuations and is considered to be riskier than PDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEFS | PDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.26% | 3.07% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 9.40% | 8.90% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.90% | 11.86% | -0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.23% | 15.59% | -2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.30% | 19.06% | -3.76% |
Dividends
CEFS vs. PDI - Dividend Comparison
CEFS's dividend yield for the trailing twelve months is around 7.24%, less than PDI's 16.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEFS Saba Closed-End Funds ETF | 7.24% | 7.84% | 8.79% | 9.20% | 11.32% | 10.73% | 8.61% | 8.10% | 10.43% | 5.02% | 0.00% | 0.00% |
PDI PIMCO Dynamic Income Fund | 16.62% | 14.94% | 14.43% | 14.74% | 17.84% | 10.21% | 10.01% | 9.45% | 10.78% | 8.81% | 14.79% | 18.70% |
Frequently Asked Questions
CEFS and PDI have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEFS has higher volatility (3.26%) compared to PDI (3.07%). In terms of maximum drawdown, CEFS dropped -38.99% vs PDI's -46.47%.
CEFS currently has the higher Sharpe Ratio (1.99 vs -0.35), 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.
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