PDI vs. HDV
PDI (PIMCO Dynamic Income Fund) is a stock, while HDV (iShares Core High Dividend ETF) is Dividend fund tracking the Morningstar Dividend Yield Focus Index. Over the past 10 years, PDI returned 7.32%/yr vs 9.45%/yr for HDV. At a 0.30 correlation, their price movements are largely independent.
Performance
PDI vs. HDV - Performance Comparison
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Returns By Period
In the year-to-date period, PDI achieves a -1.30% return, which is significantly lower than HDV's 14.07% return. Over the past 10 years, PDI has underperformed HDV with an annualized return of 7.32%, while HDV has yielded a comparatively higher 9.45% annualized return.
PDI
- 1D
- -0.12%
- 1M
- -1.03%
- YTD
- -1.30%
- 6M
- -1.19%
- 1Y
- 0.13%
- 3Y*
- 9.89%
- 5Y*
- 2.45%
- 10Y*
- 7.32%
HDV
- 1D
- 1.33%
- 1M
- -1.35%
- YTD
- 14.07%
- 6M
- 14.08%
- 1Y
- 21.06%
- 3Y*
- 15.48%
- 5Y*
- 11.09%
- 10Y*
- 9.45%
PDI vs. HDV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PDI PIMCO Dynamic Income Fund | -1.30% | 11.03% | 17.18% | 11.99% | -16.99% | 7.81% | -9.96% | 22.23% | 7.35% | 18.59% |
HDV iShares Core High Dividend ETF | 14.07% | 11.90% | 14.16% | 1.72% | 7.05% | 19.45% | -6.48% | 20.22% | -3.01% | 13.40% |
Correlation
The correlation between PDI and HDV is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since May 25, 2012 | 0.30 |
Over the past year, the correlation between PDI and HDV has dropped to 0.01 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.
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Return for Risk
PDI vs. HDV — Risk / Return Rank
PDI
HDV
PDI vs. HDV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Dynamic Income Fund (PDI) and iShares Core High Dividend ETF (HDV). 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 | HDV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.12 | ||
| Sortino ratioReturn per unit of downside risk | -3.04 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.36 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 0.01 | 4.09 | -4.07 |
| Martin ratioReturn relative to average drawdown | 0.02 | 11.19 | -11.16 |
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Drawdowns
PDI vs. HDV - Drawdown Comparison
The maximum PDI drawdown since its inception was -46.47%, which is greater than HDV's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for PDI and HDV.
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Drawdown Indicators
| PDI | HDV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.47% | -37.04% | -9.43% |
Max Drawdown (1Y)Largest decline over 1 year | -10.95% | -5.18% | -5.77% |
Max Drawdown (3Y)Largest decline over 3 years | -17.55% | -10.49% | -7.06% |
Max Drawdown (5Y)Largest decline over 5 years | -27.19% | -15.42% | -11.77% |
Max Drawdown (10Y)Largest decline over 10 years | -46.47% | -37.04% | -9.43% |
Current DrawdownCurrent decline from peak | -9.01% | -1.35% | -7.66% |
Average DrawdownAverage peak-to-trough decline | -6.22% | -3.08% | -3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.24% | 1.89% | +3.35% |
Volatility
PDI vs. HDV - Volatility Comparison
The current volatility for PIMCO Dynamic Income Fund (PDI) is 2.87%, while iShares Core High Dividend ETF (HDV) has a volatility of 3.64%. This indicates that PDI experiences smaller price fluctuations and is considered to be less risky than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDI | HDV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 3.64% | -0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 8.49% | 7.61% | +0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.43% | 9.93% | +1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.56% | 12.81% | +2.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.05% | 15.73% | +3.32% |
Dividends
PDI vs. HDV - Dividend Comparison
PDI's dividend yield for the trailing twelve months is around 16.31%, more than HDV's 2.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDV iShares Core High Dividend ETF | 2.90% | 3.22% | 3.67% | 3.82% | 3.56% | 3.47% | 4.07% | 3.27% | 3.67% | 3.27% | 3.28% | 3.92% |
PDI PIMCO Dynamic Income Fund | 16.31% | 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 HDV have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDV has higher volatility (3.64%) compared to PDI (2.87%). In terms of maximum drawdown, PDI dropped -46.47% vs HDV's -37.04%.
HDV currently has the higher Sharpe Ratio (2.13 vs 0.01), 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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