PCRIX vs. PDIIX

Last updated Jun 4, 2026

PCRIX (PIMCO Commodity Real Return Strategy Fund) and PDIIX (PIMCO Diversified Income Fund) are both mutual funds - PCRIX is a Commodities fund managed by PIMCO, while PDIIX is a Multisector Bonds fund managed by PIMCO. Over the past 10 years, PCRIX returned -2.66%/yr vs 4.34%/yr for PDIIX. At a 0.25 correlation, their price movements are largely independent. PCRIX charges 0.80%/yr vs 0.75%/yr for PDIIX.

Performance

PCRIX vs. PDIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Commodity Real Return Strategy Fund (PCRIX) and PIMCO Diversified Income Fund (PDIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCRIX achieves a 26.86% return, which is significantly higher than PDIIX's 1.54% return. Over the past 10 years, PCRIX has underperformed PDIIX with an annualized return of -2.66%, while PDIIX has yielded a comparatively higher 4.34% annualized return.

PCRIX

• 1D: 0.38%
• 1M: -2.54%
• YTD: 26.86%
• 6M: 23.71%
• 1Y: 39.70%
• 3Y*: 19.03%
• 5Y*: -9.52%
• 10Y*: -2.66%

PDIIX

• 1D: 0.10%
• 1M: 0.98%
• YTD: 1.54%
• 6M: 1.82%
• 1Y: 8.85%
• 3Y*: 8.69%
• 5Y*: 2.60%
• 10Y*: 4.34%

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

PCRIX vs. PDIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCRIX PIMCO Commodity Real Return Strategy Fund	26.86%	17.05%	10.59%	-68.64%	8.94%	33.35%	0.79%	12.29%	-13.77%	2.71%
PDIIX PIMCO Diversified Income Fund	1.54%	10.42%	6.35%	10.41%	-14.70%	0.42%	6.43%	13.05%	-0.97%	8.87%

Correlation

The correlation between PCRIX and PDIIX is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since Aug 5, 2003	0.25

The correlation between PCRIX and PDIIX shifts across timeframes, from -0.22 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PCRIX vs. PDIIX — Risk / Return Rank

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

PCRIX

PCRIX Risk / Return Rank: 75
PCRIX Sharpe Ratio Rank: 73
PCRIX Sortino Ratio Rank: 54
PCRIX Omega Ratio Rank: 62
PCRIX Calmar Ratio Rank: 95
PCRIX Martin Ratio Rank: 89

PDIIX

PDIIX Risk / Return Rank: 64
PDIIX Sharpe Ratio Rank: 67
PDIIX Sortino Ratio Rank: 79
PDIIX Omega Ratio Rank: 75
PDIIX Calmar Ratio Rank: 46
PDIIX Martin Ratio Rank: 51

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.

PCRIX vs. PDIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Commodity Real Return Strategy Fund (PCRIX) and PIMCO Diversified Income Fund (PDIIX). 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.

	PCRIX	PDIIX	Difference
Sharpe ratio: Return per unit of total volatility	2.48	2.38	+0.10
Sortino ratio: Return per unit of downside risk	3.10	3.75	-0.65
Omega ratio: Gain probability vs. loss probability	1.44	1.49	-0.05
Calmar ratio: Return relative to maximum drawdown	5.66	2.58	+3.08
Martin ratio: Return relative to average drawdown	17.68	10.53	+7.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PCRIX vs. PDIIX - Sharpe Ratio Comparison

The current PCRIX Sharpe Ratio is 2.48, which is comparable to the PDIIX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of PCRIX and PDIIX, 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

	PCRIX	PDIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	2.38	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	0.52	-0.79
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.10	0.89	-0.99
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	1.22	-1.32

Drawdowns

PCRIX vs. PDIIX - Drawdown Comparison

The maximum PCRIX drawdown since its inception was -88.17%, which is greater than PDIIX's maximum drawdown of -21.96%. Use the drawdown chart below to compare losses from any high point for PCRIX and PDIIX.

Drawdown Indicators

	PCRIX	PDIIX	Difference
Max Drawdown Largest peak-to-trough decline	-88.17%	-21.96%	-66.21%
Max Drawdown (1Y) Largest decline over 1 year	-7.12%	-3.55%	-3.57%
Max Drawdown (3Y) Largest decline over 3 years	-10.28%	-4.27%	-6.01%
Max Drawdown (5Y) Largest decline over 5 years	-78.15%	-20.50%	-57.65%
Max Drawdown (10Y) Largest decline over 10 years	-78.15%	-20.50%	-57.65%
Current Drawdown Current decline from peak	-79.68%	-0.06%	-79.62%
Average Drawdown Average peak-to-trough decline	-51.80%	-2.82%	-48.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	0.87%	+1.40%

Volatility

PCRIX vs. PDIIX - Volatility Comparison

PIMCO Commodity Real Return Strategy Fund (PCRIX) has a higher volatility of 5.27% compared to PIMCO Diversified Income Fund (PDIIX) at 1.49%. This indicates that PCRIX's price experiences larger fluctuations and is considered to be riskier than PDIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCRIX	PDIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.27%	1.49%	+3.78%
Volatility (6M) Calculated over the trailing 6-month period	14.12%	3.17%	+10.95%
Volatility (1Y) Calculated over the trailing 1-year period	16.32%	3.85%	+12.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.79%	5.00%	+30.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.19%	4.89%	+22.30%

PCRIX vs. PDIIX - Expense Ratio Comparison

PCRIX has a 0.80% expense ratio, which is higher than PDIIX's 0.75% expense ratio.

Dividends

PCRIX vs. PDIIX - Dividend Comparison

PCRIX's dividend yield for the trailing twelve months is around 4.00%, less than PDIIX's 5.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCRIX PIMCO Commodity Real Return Strategy Fund	4.00%	5.61%	8.34%	16.19%	46.23%	22.74%	1.56%	4.00%	5.94%	8.14%	0.91%	5.29%
PDIIX PIMCO Diversified Income Fund	5.52%	5.42%	5.18%	4.66%	3.91%	3.65%	3.68%	5.04%	4.46%	4.84%	4.94%	7.68%

Frequently Asked Questions

Can I hold both PCRIX and PDIIX in my portfolio?

PCRIX and PDIIX have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCRIX or PDIIX?

PCRIX has higher volatility (5.27%) compared to PDIIX (1.49%). In terms of maximum drawdown, PCRIX dropped -88.17% vs PDIIX's -21.96%.

Which has better risk-adjusted returns?

PCRIX currently has the higher Sharpe Ratio (2.48 vs 2.38), 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.