IWMI vs. PDI
IWMI (NEOS Russell 2000 High Income ETF) is Derivative Income fund actively managed by Neos, while PDI (PIMCO Dynamic Income Fund) is a stock. Over the past year, IWMI returned 37.32% vs 0.87% for PDI. At a 0.36 correlation, their price movements are largely independent.
Performance
IWMI vs. PDI - Performance Comparison
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Returns By Period
In the year-to-date period, IWMI achieves a 16.41% return, which is significantly higher than PDI's -0.56% return.
IWMI
- 1D
- 1.72%
- 1M
- 3.75%
- YTD
- 16.41%
- 6M
- 14.83%
- 1Y
- 37.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PDI
- 1D
- -0.12%
- 1M
- -0.29%
- YTD
- -0.56%
- 6M
- -0.56%
- 1Y
- 0.87%
- 3Y*
- 10.94%
- 5Y*
- 2.62%
- 10Y*
- 7.51%
IWMI vs. PDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IWMI NEOS Russell 2000 High Income ETF | 16.41% | 14.97% | 6.58% |
PDI PIMCO Dynamic Income Fund | -0.56% | 11.03% | 4.71% |
Correlation
The correlation between IWMI and PDI is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2024 | 0.36 |
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Return for Risk
IWMI vs. PDI — Risk / Return Rank
IWMI
PDI
IWMI vs. PDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NEOS Russell 2000 High Income ETF (IWMI) 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.
| IWMI | PDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.30 | ||
| Sortino ratioReturn per unit of downside risk | +3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.04 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 4.43 | 0.12 | +4.30 |
| Martin ratioReturn relative to average drawdown | 18.24 | 0.26 | +17.98 |
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Drawdowns
IWMI vs. PDI - Drawdown Comparison
The maximum IWMI drawdown since its inception was -23.88%, smaller than the maximum PDI drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for IWMI and PDI.
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Drawdown Indicators
| IWMI | PDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.88% | -46.47% | +22.59% |
Max Drawdown (1Y)Largest decline over 1 year | -8.40% | -10.95% | +2.55% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.55% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.19% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.47% | — |
Current DrawdownCurrent decline from peak | 0.00% | -8.34% | +8.34% |
Average DrawdownAverage peak-to-trough decline | -4.04% | -6.22% | +2.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 5.18% | -3.15% |
Volatility
IWMI vs. PDI - Volatility Comparison
NEOS Russell 2000 High Income ETF (IWMI) has a higher volatility of 5.41% compared to PIMCO Dynamic Income Fund (PDI) at 3.19%. This indicates that IWMI's price experiences larger fluctuations and is considered to be riskier 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
| IWMI | PDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.41% | 3.19% | +2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 11.46% | 8.47% | +2.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.38% | 11.43% | +3.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.97% | 15.55% | +2.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.97% | 19.04% | -1.07% |
Dividends
IWMI vs. PDI - Dividend Comparison
IWMI's dividend yield for the trailing twelve months is around 14.51%, less than PDI's 16.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWMI NEOS Russell 2000 High Income ETF | 14.51% | 14.05% | 8.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PDI PIMCO Dynamic Income Fund | 16.20% | 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
IWMI and PDI have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWMI has higher volatility (5.41%) compared to PDI (3.19%). In terms of maximum drawdown, IWMI dropped -23.88% vs PDI's -46.47%.
IWMI currently has the higher Sharpe Ratio (2.42 vs 0.12), 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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