MINO vs. PDI

Last updated Jun 3, 2026

MINO (PIMCO Municipal Income Opportunities Active Exchange-Traded Fund) is Municipal Bonds fund actively managed by PIMCO, while PDI (PIMCO Dynamic Income Fund) is a stock. Over the past 3 years, MINO returned 5.01%/yr vs 11.71%/yr for PDI. At a 0.23 correlation, their price movements are largely independent.

Performance

MINO vs. PDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) and PIMCO Dynamic Income Fund (PDI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MINO achieves a 2.04% return, which is significantly higher than PDI's 0.39% return.

MINO

• 1D: 0.24%
• 1M: 0.68%
• YTD: 2.04%
• 6M: 2.15%
• 1Y: 8.06%
• 3Y*: 5.01%
• 5Y*: —
• 10Y*: —

PDI

• 1D: 0.42%
• 1M: -3.14%
• YTD: 0.39%
• 6M: -0.50%
• 1Y: 2.54%
• 3Y*: 11.71%
• 5Y*: 2.66%
• 10Y*: 7.52%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MINO vs. PDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund	2.04%	4.42%	3.13%	8.46%	-10.43%	0.28%
PDI PIMCO Dynamic Income Fund	0.39%	11.03%	17.18%	11.99%	-16.99%	-3.82%

Correlation

The correlation between MINO and PDI is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Sep 10, 2021	0.23

Return for Risk

MINO vs. PDI — Risk / Return Rank

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

MINO

MINO Risk / Return Rank: 80
MINO Sharpe Ratio Rank: 88
MINO Sortino Ratio Rank: 92
MINO Omega Ratio Rank: 93
MINO Calmar Ratio Rank: 65
MINO Martin Ratio Rank: 64

PDI

PDI Risk / Return Rank: 44
PDI Sharpe Ratio Rank: 48
PDI Sortino Ratio Rank: 38
PDI Omega Ratio Rank: 40
PDI Calmar Ratio Rank: 47
PDI Martin Ratio Rank: 47

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.

MINO vs. PDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) 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.

	MINO	PDI	Difference
Sharpe ratio Return per unit of total volatility	2.97	0.23	+2.74
Sortino ratio Return per unit of downside risk	4.56	0.36	+4.19
Omega ratio Gain probability vs. loss probability	1.65	1.06	+0.59
Calmar ratio Return relative to maximum drawdown	3.30	0.30	+3.00
Martin ratio Return relative to average drawdown	11.87	0.66	+11.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MINO vs. PDI - Sharpe Ratio Comparison

The current MINO Sharpe Ratio is 2.97, which is higher than the PDI Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of MINO and PDI, 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

	MINO	PDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.97	0.23	+2.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.17	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.59	-0.26

Drawdowns

MINO vs. PDI - Drawdown Comparison

The maximum MINO drawdown since its inception was -15.24%, smaller than the maximum PDI drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for MINO and PDI.

Drawdown Indicators

	MINO	PDI	Difference
Max Drawdown Largest peak-to-trough decline	-15.24%	-46.47%	+31.23%
Max Drawdown (1Y) Largest decline over 1 year	-2.41%	-10.95%	+8.54%
Max Drawdown (3Y) Largest decline over 3 years	-5.34%	-17.55%	+12.21%
Max Drawdown (5Y) Largest decline over 5 years	—	-27.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.47%	—
Current Drawdown Current decline from peak	-0.14%	-7.46%	+7.32%
Average Drawdown Average peak-to-trough decline	-4.26%	-6.21%	+1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	4.90%	-4.23%

Volatility

MINO vs. PDI - Volatility Comparison

The current volatility for PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) is 1.03%, while PIMCO Dynamic Income Fund (PDI) has a volatility of 3.28%. This indicates that MINO 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.

Volatility by Period

	MINO	PDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	3.28%	-2.25%
Volatility (6M) Calculated over the trailing 6-month period	1.92%	8.12%	-6.20%
Volatility (1Y) Calculated over the trailing 1-year period	2.73%	11.21%	-8.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.55%	15.53%	-10.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.55%	19.05%	-14.50%

Dividends

MINO vs. PDI - Dividend Comparison

MINO's dividend yield for the trailing twelve months is around 3.89%, less than PDI's 15.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund	3.89%	3.71%	3.91%	3.78%	2.87%	0.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PDI PIMCO Dynamic Income Fund	15.83%	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

Can I hold both MINO and PDI in my portfolio?

MINO and PDI have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MINO or PDI?

PDI has higher volatility (3.28%) compared to MINO (1.03%). In terms of maximum drawdown, MINO dropped -15.24% vs PDI's -46.47%.

Which has better risk-adjusted returns?

MINO currently has the higher Sharpe Ratio (2.97 vs 0.23), 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.