ETB vs. PDI
ETB (Eaton Vance Tax-Managed Buy-Write Income Fund) is Options Trading fund managed by Eaton Vance, while PDI (PIMCO Dynamic Income Fund) is a stock. Over the past 10 years, ETB returned 8.38%/yr vs 6.65%/yr for PDI. Their 0.31 correlation means their historical movements had little consistent relationship.
Performance
ETB vs. PDI - Performance Comparison
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Returns By Period
In the year-to-date period, ETB achieves a 7.23% return, which is significantly higher than PDI's -0.41% return. Over the past 10 years, ETB has outperformed PDI with an annualized return of 8.38%, while PDI has yielded a comparatively lower 6.65% annualized return.
ETB
- 1D
- 0.91%
- 1M
- 1.20%
- 6M
- 4.71%
- YTD
- 7.23%
- 1Y
- 17.89%
- 3Y*
- 14.53%
- 5Y*
- 7.84%
- 10Y*
- 8.38%
- ALL TIME*
- 8.19%
PDI
- 1D
- 1.44%
- 1M
- -2.00%
- 6M
- -5.51%
- YTD
- -0.41%
- 1Y
- -3.13%
- 3Y*
- 8.49%
- 5Y*
- 2.38%
- 10Y*
- 6.65%
- ALL TIME*
- 9.92%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $609.32K | $634.97K | $708.53K | |
| $46.87M | $42.96M | $45.76M |
ETB vs. PDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETB Eaton Vance Tax-Managed Buy-Write Income Fund | 7.23% | 11.16% | 26.22% | 7.50% | -16.59% | 23.68% | 0.43% | 32.40% | -12.75% | 9.52% |
PDI PIMCO Dynamic Income Fund | -0.41% | 11.03% | 17.18% | 11.99% | -16.99% | 7.81% | -9.96% | 22.23% | 7.35% | 18.59% |
Correlation
The correlation between ETB and PDI is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.32 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.35 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.33 |
Correlation (All Time) Calculated using the full available price history since May 25, 2012 | 0.31 |
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Return for Risk
ETB vs. PDI — Risk / Return Rank
ETB
PDI
ETB vs. PDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) 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.
| ETB | PDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.79 | ||
| Sortino ratioReturn per unit of downside risk | +2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.96 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | -0.29 | +2.25 |
| Martin ratioReturn relative to average drawdown | 9.70 | -0.54 | +10.24 |
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Drawdowns
ETB vs. PDI - Drawdown Comparison
The maximum ETB drawdown since its inception was -51.09%, which is greater than PDI's maximum drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for ETB and PDI.
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Drawdown Indicators
| ETB | PDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.09% | -46.47% | -4.62% |
Max Drawdown (1Y)Largest decline over 1 year | -9.16% | -10.95% | +1.79% |
Max Drawdown (3Y)Largest decline over 3 years | -20.09% | -17.55% | -2.54% |
Max Drawdown (5Y)Largest decline over 5 years | -23.43% | -27.19% | +3.76% |
Max Drawdown (10Y)Largest decline over 10 years | -45.08% | -46.47% | +1.39% |
Current DrawdownCurrent decline from peak | 0.00% | -8.20% | +8.20% |
Average DrawdownAverage peak-to-trough decline | -6.67% | -6.23% | -0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 5.84% | -3.99% |
Volatility
ETB vs. PDI - Volatility Comparison
The current volatility for Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) is 3.19%, while PIMCO Dynamic Income Fund (PDI) has a volatility of 3.44%. This indicates that ETB 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.
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Volatility by Period
| ETB | PDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 3.44% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 9.72% | 9.00% | +0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.78% | 11.93% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.31% | 15.60% | +0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.95% | 19.06% | -1.11% |
Dividends
ETB vs. PDI - Dividend Comparison
ETB's dividend yield for the trailing twelve months is around 8.14%, less than PDI's 16.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETB Eaton Vance Tax-Managed Buy-Write Income Fund | 8.14% | 8.31% | 8.21% | 8.62% | 9.63% | 7.57% | 8.64% | 7.90% | 9.64% | 7.75% | 7.85% | 7.77% |
PDI PIMCO Dynamic Income Fund | 16.39% | 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
ETB and PDI have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDI has higher volatility (3.44%) compared to ETB (3.19%). In terms of maximum drawdown, ETB dropped -51.09% vs PDI's -46.47%.
ETB currently has the higher Sharpe Ratio (1.53 vs -0.26), 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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