PAXS vs. PDI
PAXS (PIMCO Access Income Fund) is Multisector Bonds fund actively managed by PIMCO, while PDI (PIMCO Dynamic Income Fund) is a stock. Over the past 3 years, PAXS returned 12.57%/yr vs 9.49%/yr for PDI. At a 0.49 correlation, their price movements are largely independent.
Performance
PAXS vs. PDI - Performance Comparison
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Returns By Period
In the year-to-date period, PAXS achieves a 1.46% return, which is significantly higher than PDI's 0.21% return.
PAXS
- 1D
- -0.21%
- 1M
- 3.75%
- 6M
- -2.79%
- YTD
- 1.46%
- 1Y
- 8.46%
- 3Y*
- 12.57%
- 5Y*
- —
- 10Y*
- —
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%
PAXS vs. PDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PAXS PIMCO Access Income Fund | 1.46% | 12.58% | 19.51% | 9.30% | -16.66% |
PDI PIMCO Dynamic Income Fund | 0.21% | 11.03% | 17.18% | 11.99% | -14.24% |
Correlation
The correlation between PAXS and PDI is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2022 | 0.49 |
The correlation between PAXS and PDI has been stable across timeframes, ranging from 0.46 to 0.54 - a consistent structural relationship.
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Return for Risk
PAXS vs. PDI — Risk / Return Rank
PAXS
PDI
PAXS vs. PDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Access Income Fund (PAXS) 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.
| PAXS | PDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.01 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | -0.02 | +0.73 |
| Martin ratioReturn relative to average drawdown | 1.80 | -0.05 | +1.85 |
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Drawdowns
PAXS vs. PDI - Drawdown Comparison
The maximum PAXS drawdown since its inception was -22.28%, smaller than the maximum PDI drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for PAXS and PDI.
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Drawdown Indicators
| PAXS | PDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.28% | -46.47% | +24.19% |
Max Drawdown (1Y)Largest decline over 1 year | -12.10% | -10.95% | -1.15% |
Max Drawdown (3Y)Largest decline over 3 years | -13.40% | -17.55% | +4.15% |
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 | -4.00% | -7.63% | +3.63% |
Average DrawdownAverage peak-to-trough decline | -7.51% | -6.22% | -1.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.70% | 5.47% | -0.77% |
Volatility
PAXS vs. PDI - Volatility Comparison
The current volatility for PIMCO Access Income Fund (PAXS) is 2.47%, while PIMCO Dynamic Income Fund (PDI) has a volatility of 2.99%. This indicates that PAXS 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
| PAXS | PDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 2.99% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 9.67% | 8.51% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.28% | 11.57% | +0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.30% | 15.57% | +1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.30% | 19.05% | -1.75% |
Dividends
PAXS vs. PDI - Dividend Comparison
PAXS's dividend yield for the trailing twelve months is around 12.39%, less than PDI's 16.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAXS PIMCO Access Income Fund | 12.39% | 11.72% | 11.76% | 12.54% | 13.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
PAXS and PDI have a correlation of 0.54, 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 PAXS (2.47%). In terms of maximum drawdown, PAXS dropped -22.28% vs PDI's -46.47%.
PAXS currently has the higher Sharpe Ratio (0.69 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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