CEFS vs. PDI
CEFS (Saba Closed-End Funds ETF) is Event Driven fund actively managed by Exchange Traded Concepts, while PDI (PIMCO Dynamic Income Fund) is a stock. Over the past 5 years, CEFS returned 14.01%/yr vs 2.77%/yr for PDI. At a 0.34 correlation, their price movements are largely independent.
Performance
CEFS vs. PDI - Performance Comparison
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Returns By Period
In the year-to-date period, CEFS achieves a 13.95% return, which is significantly higher than PDI's 0.21% return.
CEFS
- 1D
- 0.24%
- 1M
- 0.11%
- 6M
- 13.60%
- YTD
- 13.95%
- 1Y
- 22.97%
- 3Y*
- 20.13%
- 5Y*
- 14.01%
- 10Y*
- —
PDI
- 1D
- -0.98%
- 1M
- 1.02%
- 6M
- -3.03%
- YTD
- 0.21%
- 1Y
- -0.26%
- 3Y*
- 9.49%
- 5Y*
- 2.77%
- 10Y*
- 7.27%
CEFS vs. PDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEFS Saba Closed-End Funds ETF | 13.95% | 16.67% | 23.48% | 20.99% | -7.08% | 17.86% | 3.40% | 28.41% | -9.97% | 7.92% |
PDI PIMCO Dynamic Income Fund | 0.21% | 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 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year 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 | +2.19 | ||
| Sortino ratioReturn per unit of downside risk | +3.08 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.01 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 4.07 | -0.02 | +4.09 |
| Martin ratioReturn relative to average drawdown | 15.29 | -0.05 | +15.34 |
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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 | -1.52% | -7.63% | +6.11% |
Average DrawdownAverage peak-to-trough decline | -3.64% | -6.22% | +2.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.51% | 5.47% | -3.96% |
Volatility
CEFS vs. PDI - Volatility Comparison
Saba Closed-End Funds ETF (CEFS) has a higher volatility of 3.85% compared to PIMCO Dynamic Income Fund (PDI) at 2.99%. 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 | 3.85% | 2.99% | +0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 9.17% | 8.51% | +0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.65% | 11.57% | -0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.21% | 15.57% | -2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.32% | 19.05% | -3.73% |
Dividends
CEFS vs. PDI - Dividend Comparison
CEFS's dividend yield for the trailing twelve months is around 7.12%, less than PDI's 16.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEFS Saba Closed-End Funds ETF | 7.12% | 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 | 16.29% | 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 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEFS has higher volatility (3.85%) compared to PDI (2.99%). In terms of maximum drawdown, CEFS dropped -38.99% vs PDI's -46.47%.
CEFS currently has the higher Sharpe Ratio (2.17 vs -0.02), 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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