HYD vs. PDI
Compare and contrast key facts about VanEck Vectors High-Yield Municipal Index ETF (HYD) and PIMCO Dynamic Income Fund (PDI).
HYD is a passively managed fund by VanEck that tracks the performance of the Bloomberg Barclays Municipal Custom High Yield Composite Index. It was launched on Feb 4, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYD or PDI.
Key characteristics
| HYD | PDI | |
|---|---|---|
| YTD Return | 4.63% | 23.13% |
| 1Y Return | 11.27% | 33.43% |
| 3Y Return (Ann) | -1.96% | 4.03% |
| 5Y Return (Ann) | -0.15% | 2.03% |
| 10Y Return (Ann) | 3.63% | 7.81% |
| Sharpe Ratio | 2.09 | 2.87 |
| Sortino Ratio | 3.06 | 3.38 |
| Omega Ratio | 1.42 | 1.68 |
| Calmar Ratio | 0.69 | 1.50 |
| Martin Ratio | 13.59 | 16.67 |
| Ulcer Index | 0.83% | 1.84% |
| Daily Std Dev | 5.41% | 10.68% |
| Max Drawdown | -35.60% | -46.47% |
| Current Drawdown | -6.98% | -4.46% |
Correlation
The correlation between HYD and PDI is 0.14, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
HYD vs. PDI - Performance Comparison
In the year-to-date period, HYD achieves a 4.63% return, which is significantly lower than PDI's 23.13% return. Over the past 10 years, HYD has underperformed PDI with an annualized return of 3.63%, while PDI has yielded a comparatively higher 7.81% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
HYD vs. PDI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors High-Yield Municipal Index ETF (HYD) 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.
Dividends
HYD vs. PDI - Dividend Comparison
HYD's dividend yield for the trailing twelve months is around 4.25%, less than PDI's 13.60% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYD VanEck Vectors High-Yield Municipal Index ETF | 4.25% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 14.47% | 4.29% | 4.58% | 4.83% | 4.98% | 6.34% |
PDI PIMCO Dynamic Income Fund | 13.60% | 14.74% | 17.84% | 10.21% | 10.01% | 9.45% | 10.78% | 8.81% | 14.79% | 15.08% | 13.43% | 11.59% |
Drawdowns
HYD vs. PDI - Drawdown Comparison
The maximum HYD drawdown since its inception was -35.60%, smaller than the maximum PDI drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for HYD and PDI. For additional features, visit the drawdowns tool.
Volatility
HYD vs. PDI - Volatility Comparison
The current volatility for VanEck Vectors High-Yield Municipal Index ETF (HYD) is 2.17%, while PIMCO Dynamic Income Fund (PDI) has a volatility of 5.47%. This indicates that HYD 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.