PDI vs. DLY
PDI (PIMCO Dynamic Income Fund) is a stock, while DLY (DoubleLine Yield Opportunities Fund) is Multisector Bonds fund actively managed by DoubleLine. Over the past 5 years, PDI returned 2.84%/yr vs 2.37%/yr for DLY. At a 0.37 correlation, their price movements are largely independent.
Performance
PDI vs. DLY - Performance Comparison
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Returns By Period
In the year-to-date period, PDI achieves a 0.51% return, which is significantly lower than DLY's 1.95% return.
PDI
- 1D
- -0.31%
- 1M
- 1.08%
- 6M
- -3.00%
- YTD
- 0.51%
- 1Y
- -0.48%
- 3Y*
- 9.66%
- 5Y*
- 2.84%
- 10Y*
- 7.02%
- ALL TIME*
- 10.02%
DLY
- 1D
- 0.65%
- 1M
- 2.22%
- 6M
- -0.02%
- YTD
- 1.95%
- 1Y
- 1.61%
- 3Y*
- 9.77%
- 5Y*
- 2.37%
- 10Y*
- —
- ALL TIME*
- 3.24%
PDI vs. DLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PDI PIMCO Dynamic Income Fund | 0.51% | 11.03% | 17.18% | 11.99% | -16.99% | 7.81% | -8.02% |
DLY DoubleLine Yield Opportunities Fund | 1.95% | 0.63% | 16.29% | 25.48% | -23.08% | 8.56% | -1.90% |
Correlation
The correlation between PDI and DLY is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2020 | 0.37 |
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Return for Risk
PDI vs. DLY — Risk / Return Rank
PDI
DLY
PDI vs. DLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Dynamic Income Fund (PDI) and DoubleLine Yield Opportunities Fund (DLY). 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 | DLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.04 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 0.18 | -0.23 |
| Martin ratioReturn relative to average drawdown | -0.09 | 0.44 | -0.53 |
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Drawdowns
PDI vs. DLY - Drawdown Comparison
The maximum PDI drawdown since its inception was -46.47%, which is greater than DLY's maximum drawdown of -28.61%. Use the drawdown chart below to compare losses from any high point for PDI and DLY.
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Drawdown Indicators
| PDI | DLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.47% | -28.61% | -17.86% |
Max Drawdown (1Y)Largest decline over 1 year | -10.95% | -8.74% | -2.21% |
Max Drawdown (3Y)Largest decline over 3 years | -17.55% | -10.81% | -6.74% |
Max Drawdown (5Y)Largest decline over 5 years | -27.19% | -28.61% | +1.42% |
Max Drawdown (10Y)Largest decline over 10 years | -46.47% | — | — |
Current DrawdownCurrent decline from peak | -7.34% | -2.25% | -5.09% |
Average DrawdownAverage peak-to-trough decline | -6.22% | -7.74% | +1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.54% | 3.63% | +1.91% |
Volatility
PDI vs. DLY - Volatility Comparison
PIMCO Dynamic Income Fund (PDI) has a higher volatility of 2.40% compared to DoubleLine Yield Opportunities Fund (DLY) at 1.91%. This indicates that PDI's price experiences larger fluctuations and is considered to be riskier than DLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDI | DLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.40% | 1.91% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 8.55% | 6.92% | +1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.62% | 8.12% | +3.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.57% | 13.54% | +2.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.05% | 14.93% | +4.12% |
Dividends
PDI vs. DLY - Dividend Comparison
PDI's dividend yield for the trailing twelve months is around 16.24%, more than DLY's 10.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | 10.00% | 9.63% | 8.85% | 9.84% | 10.67% | 7.49% | 5.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PDI PIMCO Dynamic Income Fund | 16.24% | 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 DLY have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDI has higher volatility (2.40%) compared to DLY (1.91%). In terms of maximum drawdown, PDI dropped -46.47% vs DLY's -28.61%.
DLY currently has the higher Sharpe Ratio (0.20 vs -0.04), 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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