FFRIX vs. PDI
FFRIX (Fidelity Advisor Floating Rate High Income Fund Class I) is High Yield Bonds fund managed by Fidelity, while PDI (PIMCO Dynamic Income Fund) is a stock. Over the past 10 years, FFRIX returned 4.76%/yr vs 7.27%/yr for PDI. At a 0.23 correlation, their price movements are largely independent.
Performance
FFRIX vs. PDI - Performance Comparison
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Returns By Period
In the year-to-date period, FFRIX achieves a 2.12% return, which is significantly higher than PDI's 0.21% return. Over the past 10 years, FFRIX has underperformed PDI with an annualized return of 4.76%, while PDI has yielded a comparatively higher 7.27% annualized return.
FFRIX
- 1D
- 0.11%
- 1M
- 0.53%
- 6M
- 2.01%
- YTD
- 2.12%
- 1Y
- 5.08%
- 3Y*
- 6.46%
- 5Y*
- 5.28%
- 10Y*
- 4.76%
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%
FFRIX vs. PDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FFRIX Fidelity Advisor Floating Rate High Income Fund Class I | 2.12% | 5.54% | 7.07% | 11.63% | -1.58% | 5.06% | 1.64% | 8.47% | 0.13% | 3.86% |
PDI PIMCO Dynamic Income Fund | 0.21% | 11.03% | 17.18% | 11.99% | -16.99% | 7.81% | -9.96% | 22.23% | 7.35% | 18.59% |
Correlation
The correlation between FFRIX and PDI is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since May 25, 2012 | 0.23 |
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Return for Risk
FFRIX vs. PDI — Risk / Return Rank
FFRIX
PDI
FFRIX vs. PDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Floating Rate High Income Fund Class I (FFRIX) 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.
| FFRIX | PDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.16 | ||
| Sortino ratioReturn per unit of downside risk | +4.81 | ||
| Omega ratioGain probability vs. loss probability | 1.71 | 1.01 | +0.71 |
| Calmar ratioReturn relative to maximum drawdown | 4.30 | -0.02 | +4.32 |
| Martin ratioReturn relative to average drawdown | 14.47 | -0.05 | +14.52 |
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Drawdowns
FFRIX vs. PDI - Drawdown Comparison
The maximum FFRIX drawdown since its inception was -22.12%, smaller than the maximum PDI drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for FFRIX and PDI.
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Drawdown Indicators
| FFRIX | PDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.12% | -46.47% | +24.35% |
Max Drawdown (1Y)Largest decline over 1 year | -1.21% | -10.95% | +9.74% |
Max Drawdown (3Y)Largest decline over 3 years | -3.29% | -17.55% | +14.26% |
Max Drawdown (5Y)Largest decline over 5 years | -5.92% | -27.19% | +21.27% |
Max Drawdown (10Y)Largest decline over 10 years | -22.12% | -46.47% | +24.35% |
Current DrawdownCurrent decline from peak | 0.00% | -7.63% | +7.63% |
Average DrawdownAverage peak-to-trough decline | -1.00% | -6.22% | +5.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 5.47% | -5.11% |
Volatility
FFRIX vs. PDI - Volatility Comparison
The current volatility for Fidelity Advisor Floating Rate High Income Fund Class I (FFRIX) is 0.75%, while PIMCO Dynamic Income Fund (PDI) has a volatility of 2.99%. This indicates that FFRIX 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
| FFRIX | PDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 2.99% | -2.24% |
Volatility (6M)Calculated over the trailing 6-month period | 1.80% | 8.51% | -6.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.44% | 11.57% | -9.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.94% | 15.57% | -12.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.15% | 19.05% | -14.90% |
Dividends
FFRIX vs. PDI - Dividend Comparison
FFRIX's dividend yield for the trailing twelve months is around 6.97%, less than PDI's 16.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFRIX Fidelity Advisor Floating Rate High Income Fund Class I | 6.97% | 7.37% | 6.92% | 7.47% | 3.78% | 2.69% | 3.80% | 5.12% | 4.65% | 4.00% | 4.38% | 3.32% |
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
FFRIX and PDI have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDI has higher volatility (2.99%) compared to FFRIX (0.75%). In terms of maximum drawdown, FFRIX dropped -22.12% vs PDI's -46.47%.
FFRIX currently has the higher Sharpe Ratio (2.14 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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