PDI vs. CEFS
PDI (PIMCO Dynamic Income Fund) is a stock, while CEFS (Saba Closed-End Funds ETF) is Actively Managed fund actively managed by Exchange Traded Concepts. Over the past 5 years, PDI returned 2.66%/yr vs 13.53%/yr for CEFS. Their 0.34 correlation means their historical movements had little consistent relationship.
Performance
PDI vs. CEFS - Performance Comparison
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Returns By Period
In the year-to-date period, PDI achieves a -0.66% return, which is significantly lower than CEFS's 11.97% return.
PDI
- 1D
- 1.19%
- 1M
- -2.25%
- 6M
- -4.71%
- YTD
- -0.66%
- 1Y
- -2.67%
- 3Y*
- 8.97%
- 5Y*
- 2.66%
- 10Y*
- 6.67%
- ALL TIME*
- 9.91%
CEFS
- 1D
- 1.35%
- 1M
- -2.84%
- 6M
- 9.54%
- YTD
- 11.97%
- 1Y
- 19.55%
- 3Y*
- 18.85%
- 5Y*
- 13.53%
- 10Y*
- —
- ALL TIME*
- 11.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.25M | $2.12M | $2.23M | |
| $41.52M | $40.79M | $45.33M |
PDI vs. CEFS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PDI PIMCO Dynamic Income Fund | -0.66% | 11.03% | 17.18% | 11.99% | -16.99% | 7.81% | -9.96% | 22.23% | 7.35% | 5.62% |
CEFS Saba Closed-End Funds ETF | 11.97% | 16.67% | 23.48% | 20.99% | -7.08% | 17.86% | 3.40% | 28.41% | -9.97% | 7.92% |
Correlation
The correlation between PDI and CEFS is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2017 | 0.34 |
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Return for Risk
PDI vs. CEFS — Risk / Return Rank
PDI
CEFS
PDI vs. CEFS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Dynamic Income Fund (PDI) and Saba Closed-End Funds ETF (CEFS). 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.
| PDI | CEFS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.03 | ||
| Sortino ratioReturn per unit of downside risk | -2.85 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.33 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 3.46 | -3.71 |
| Martin ratioReturn relative to average drawdown | -0.46 | 12.03 | -12.49 |
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Drawdowns
PDI vs. CEFS - Drawdown Comparison
The maximum PDI drawdown since its inception was -46.47%, which is greater than CEFS's maximum drawdown of -38.99%. Use the drawdown chart below to compare losses from any high point for PDI and CEFS.
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Drawdown Indicators
| PDI | CEFS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.47% | -38.99% | -7.48% |
Max Drawdown (1Y)Largest decline over 1 year | -10.95% | -5.67% | -5.28% |
Max Drawdown (3Y)Largest decline over 3 years | -17.55% | -13.37% | -4.18% |
Max Drawdown (5Y)Largest decline over 5 years | -27.19% | -16.85% | -10.34% |
Max Drawdown (10Y)Largest decline over 10 years | -46.47% | — | — |
Current DrawdownCurrent decline from peak | -8.42% | -3.22% | -5.20% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -3.63% | -2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.75% | 1.63% | +4.12% |
Volatility
PDI vs. CEFS - Volatility Comparison
The current volatility for PIMCO Dynamic Income Fund (PDI) is 3.00%, while Saba Closed-End Funds ETF (CEFS) has a volatility of 3.20%. This indicates that PDI experiences smaller price fluctuations and is considered to be less risky than CEFS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDI | CEFS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.00% | 3.20% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 8.87% | 9.45% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.81% | 10.90% | +0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.59% | 13.23% | +2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.05% | 15.30% | +3.75% |
Dividends
PDI vs. CEFS - Dividend Comparison
PDI's dividend yield for the trailing twelve months is around 16.43%, more than CEFS's 7.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEFS Saba Closed-End Funds ETF | 7.29% | 7.84% | 8.79% | 9.20% | 11.32% | 10.73% | 8.61% | 8.10% | 10.43% | 5.02% | 0.00% | 0.00% |
PDI PIMCO Dynamic Income Fund | 16.43% | 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
PDI and CEFS have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEFS has higher volatility (3.20%) compared to PDI (3.00%). In terms of maximum drawdown, PDI dropped -46.47% vs CEFS's -38.99%.
CEFS currently has the higher Sharpe Ratio (1.80 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.
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