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IOBZX vs. WDI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IOBZX vs. WDI

Last updated Jun 4, 2026

IOBZX (ICON FlexibleBondFund) and WDI (Western Asset Diversified Income Fund) are both Multisector Bonds funds. Over the past 3 years, IOBZX returned 6.50%/yr vs 13.68%/yr for WDI. At a 0.41 correlation, their price movements are largely independent. IOBZX charges 0.76%/yr vs 1.73%/yr for WDI.

Performance

IOBZX vs. WDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ICON FlexibleBondFund (IOBZX) and Western Asset Diversified Income Fund (WDI). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, IOBZX achieves a 1.24% return, which is significantly lower than WDI's 1.58% return.

IOBZX

1D
0.00%
1M
0.60%
YTD
1.24%
6M
1.55%
1Y
5.37%
3Y*
6.50%
5Y*
3.74%
10Y*
4.12%

WDI

1D
-0.59%
1M
-2.23%
YTD
1.58%
6M
-0.30%
1Y
2.75%
3Y*
13.68%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IOBZX vs. WDI - Yearly Performance Comparison

2026 (YTD)20252024202320222021
IOBZX
ICON FlexibleBondFund		1.24%5.67%8.33%8.28%-5.63%1.11%
WDI
Western Asset Diversified Income Fund		1.58%10.64%13.88%25.11%-23.30%-5.66%

Correlation

The correlation between IOBZX and WDI is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.44

Correlation (3Y)
Calculated over the trailing 3-year period

0.39

Correlation (All Time)
Calculated using the full available price history since Jun 28, 2021

0.41

Compare stocks, funds, or ETFs

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ICON FlexibleBondFund

Western Asset Diversified Income Fund

Often compared with IOBZX:
IOBZX vs. EVHYIOBZX vs. BUFHXIOBZX vs. BNDIOBZX vs. AGGIOBZX vs. ICMUXIOBZX vs. ICSHIOBZX vs. ICFSX
Often compared with WDI:
WDI vs. MSDWDI vs. BLWWDI vs. PFNWDI vs. PFFAWDI vs. TRINWDI vs. AMLPWDI vs. VONG

Return for Risk

IOBZX vs. WDI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IOBZX
IOBZX Risk / Return Rank: 7474
Overall Rank
IOBZX Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
IOBZX Sortino Ratio Rank: 8383
Sortino Ratio Rank
IOBZX Omega Ratio Rank: 9292
Omega Ratio Rank
IOBZX Calmar Ratio Rank: 4949
Calmar Ratio Rank
IOBZX Martin Ratio Rank: 6161
Martin Ratio Rank
WDI
WDI Risk / Return Rank: 44
Overall Rank
WDI Sharpe Ratio Rank: 44
Sharpe Ratio Rank
WDI Sortino Ratio Rank: 44
Sortino Ratio Rank
WDI Omega Ratio Rank: 44
Omega Ratio Rank
WDI Calmar Ratio Rank: 44
Calmar Ratio Rank
WDI Martin Ratio Rank: 44
Martin Ratio Rank
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.

IOBZX vs. WDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ICON FlexibleBondFund (IOBZX) and Western Asset Diversified Income Fund (WDI). 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.

IOBZXWDIDifference
Sharpe ratioReturn per unit of total volatility
2.77
0.30

+2.48

Sortino ratioReturn per unit of downside risk
3.93
0.48

+3.45

Omega ratioGain probability vs. loss probability

1.69

1.06

+0.63

Calmar ratioReturn relative to maximum drawdown

2.67

0.33

+2.34

Martin ratioReturn relative to average drawdown

12.08

0.83

+11.24

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IOBZX vs. WDI - Sharpe Ratio Comparison

The current IOBZX Sharpe Ratio is 2.77, which is higher than the WDI Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of IOBZX and WDI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IOBZXWDIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.77

0.30

+2.48

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.33

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.12

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.12

0.23

+0.88

Drawdowns

IOBZX vs. WDI - Drawdown Comparison

The maximum IOBZX drawdown since its inception was -15.53%, smaller than the maximum WDI drawdown of -32.45%. Use the drawdown chart below to compare losses from any high point for IOBZX and WDI.

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Drawdown Indicators

IOBZXWDIDifference

Max Drawdown

Largest peak-to-trough decline

-15.53%

-32.45%

+16.92%

Max Drawdown (1Y)

Largest decline over 1 year

-2.08%

-8.47%

+6.39%

Max Drawdown (3Y)

Largest decline over 3 years

-2.97%

-14.14%

+11.17%

Max Drawdown (5Y)

Largest decline over 5 years

-8.48%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-15.53%

—

—

Current Drawdown

Current decline from peak

0.00%

-3.49%

+3.49%

Average Drawdown

Average peak-to-trough decline

-1.28%

-10.41%

+9.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.46%

3.31%

-2.85%

Volatility

IOBZX vs. WDI - Volatility Comparison

The current volatility for ICON FlexibleBondFund (IOBZX) is 0.64%, while Western Asset Diversified Income Fund (WDI) has a volatility of 3.39%. This indicates that IOBZX experiences smaller price fluctuations and is considered to be less risky than WDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IOBZXWDIDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.64%

3.39%

-2.75%

Volatility (6M)

Calculated over the trailing 6-month period

1.61%

7.71%

-6.10%

Volatility (1Y)

Calculated over the trailing 1-year period

2.00%

9.30%

-7.30%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.82%

12.97%

-10.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.70%

12.97%

-9.27%

IOBZX vs. WDI - Expense Ratio Comparison

IOBZX has a 0.76% expense ratio, which is lower than WDI's 1.73% expense ratio.

Dividends

IOBZX vs. WDI - Dividend Comparison

IOBZX's dividend yield for the trailing twelve months is around 6.12%, less than WDI's 13.27% yield.

PositionTTM20252024202320222021202020192018201720162015
IOBZX
ICON FlexibleBondFund		6.12%6.74%6.71%5.65%5.22%4.90%4.03%4.67%4.18%4.07%3.58%4.00%
WDI
Western Asset Diversified Income Fund		13.27%13.98%12.32%11.45%11.40%3.19%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IOBZX and WDI have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

WDI has higher volatility (3.39%) compared to IOBZX (0.64%). In terms of maximum drawdown, IOBZX dropped -15.53% vs WDI's -32.45%.

IOBZX currently has the higher Sharpe Ratio (2.77 vs 0.30), 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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