FAGIX vs. PDIIX

Last updated Jun 5, 2026

FAGIX (Fidelity Capital & Income Fund) and PDIIX (PIMCO Diversified Income Fund) are both mutual funds - FAGIX is a High Yield Bonds fund managed by Fidelity, while PDIIX is a Multisector Bonds fund managed by PIMCO. Over the past 10 years, FAGIX returned 8.08%/yr vs 4.32%/yr for PDIIX. A 0.53 correlation means they provide meaningful diversification when combined. FAGIX charges 0.67%/yr vs 0.75%/yr for PDIIX.

Performance

FAGIX vs. PDIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Capital & Income Fund (FAGIX) 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, FAGIX achieves a 8.24% return, which is significantly higher than PDIIX's 1.34% return. Over the past 10 years, FAGIX has outperformed PDIIX with an annualized return of 8.08%, while PDIIX has yielded a comparatively lower 4.32% annualized return.

FAGIX

• 1D: -0.17%
• 1M: 2.01%
• YTD: 8.24%
• 6M: 9.00%
• 1Y: 18.11%
• 3Y*: 13.29%
• 5Y*: 7.05%
• 10Y*: 8.08%

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)

FAGIX vs. PDIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAGIX Fidelity Capital & Income Fund	8.24%	12.38%	10.69%	13.02%	-11.50%	11.13%	9.95%	18.96%	-7.17%	11.66%
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 FAGIX and PDIIX is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Aug 5, 2003	0.53

The correlation between FAGIX and PDIIX has been stable across timeframes, ranging from 0.50 to 0.60 - a consistent structural relationship.

Return for Risk

FAGIX vs. PDIIX — Risk / Return Rank

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

FAGIX

FAGIX Risk / Return Rank: 91
FAGIX Sharpe Ratio Rank: 90
FAGIX Sortino Ratio Rank: 89
FAGIX Omega Ratio Rank: 86
FAGIX Calmar Ratio Rank: 93
FAGIX Martin Ratio Rank: 95

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.

FAGIX vs. PDIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Capital & Income Fund (FAGIX) 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.

	FAGIX	PDIIX	Difference
Sharpe ratio: Return per unit of total volatility	3.02	2.26	+0.76
Sortino ratio: Return per unit of downside risk	4.41	3.57	+0.84
Omega ratio: Gain probability vs. loss probability	1.60	1.46	+0.14
Calmar ratio: Return relative to maximum drawdown	5.25	2.45	+2.79
Martin ratio: Return relative to average drawdown	22.15	10.02	+12.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FAGIX vs. PDIIX - Sharpe Ratio Comparison

The current FAGIX Sharpe Ratio is 3.02, which is higher than the PDIIX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of FAGIX 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

	FAGIX	PDIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.02	2.26	+0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.07	0.50	+0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.04	0.89	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	1.22	-0.34

Drawdowns

FAGIX vs. PDIIX - Drawdown Comparison

The maximum FAGIX drawdown since its inception was -37.97%, which is greater than PDIIX's maximum drawdown of -21.96%. Use the drawdown chart below to compare losses from any high point for FAGIX and PDIIX.

Drawdown Indicators

	FAGIX	PDIIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.97%	-21.96%	-16.01%
Max Drawdown (1Y) Largest decline over 1 year	-3.49%	-3.55%	+0.06%
Max Drawdown (3Y) Largest decline over 3 years	-7.26%	-4.27%	-2.99%
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	-20.50%	+5.08%
Max Drawdown (10Y) Largest decline over 10 years	-28.45%	-20.50%	-7.95%
Current Drawdown Current decline from peak	-0.17%	-0.26%	+0.09%
Average Drawdown Average peak-to-trough decline	-6.98%	-2.81%	-4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	0.87%	-0.05%

Volatility

FAGIX vs. PDIIX - Volatility Comparison

Fidelity Capital & Income Fund (FAGIX) has a higher volatility of 1.90% compared to PIMCO Diversified Income Fund (PDIIX) at 1.47%. This indicates that FAGIX's price experiences larger fluctuations and is considered to be riskier than PDIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAGIX	PDIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.90%	1.47%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	4.85%	3.15%	+1.70%
Volatility (1Y) Calculated over the trailing 1-year period	6.08%	3.85%	+2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.59%	5.00%	+1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.82%	4.89%	+2.93%

FAGIX vs. PDIIX - Expense Ratio Comparison

FAGIX has a 0.67% expense ratio, which is lower than PDIIX's 0.75% expense ratio.

Dividends

FAGIX vs. PDIIX - Dividend Comparison

FAGIX's dividend yield for the trailing twelve months is around 4.43%, less than PDIIX's 5.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAGIX Fidelity Capital & Income Fund	4.43%	4.74%	5.02%	5.28%	10.25%	6.08%	4.59%	5.00%	5.67%	5.05%	4.57%	4.51%
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 FAGIX and PDIIX in my portfolio?

FAGIX and PDIIX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAGIX or PDIIX?

FAGIX has higher volatility (1.90%) compared to PDIIX (1.47%). In terms of maximum drawdown, FAGIX dropped -37.97% vs PDIIX's -21.96%.

Which has better risk-adjusted returns?

FAGIX currently has the higher Sharpe Ratio (3.02 vs 2.26), 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.