PDI vs. NAD

Last updated Jun 9, 2026

PDI (PIMCO Dynamic Income Fund) and NAD (Nuveen Quality Municipal Income Fund) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, PDI returned 7.56%/yr vs 2.62%/yr for NAD. At a 0.23 correlation, their price movements are largely independent.

Performance

PDI vs. NAD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Dynamic Income Fund (PDI) and Nuveen Quality Municipal Income Fund (NAD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDI achieves a 0.27% return, which is significantly higher than NAD's 0.07% return. Over the past 10 years, PDI has outperformed NAD with an annualized return of 7.56%, while NAD has yielded a comparatively lower 2.62% annualized return.

PDI

• 1D: -0.54%
• 1M: -4.51%
• YTD: 0.27%
• 6M: -0.40%
• 1Y: 1.93%
• 3Y*: 10.92%
• 5Y*: 2.42%
• 10Y*: 7.56%

NAD

• 1D: -0.51%
• 1M: -1.67%
• YTD: 0.07%
• 6M: -0.34%
• 1Y: 12.30%
• 3Y*: 8.43%
• 5Y*: -0.34%
• 10Y*: 2.62%

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

PDI vs. NAD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PDI PIMCO Dynamic Income Fund	0.27%	11.03%	17.18%	11.99%	-16.99%	7.81%	-9.96%	22.23%	7.35%	18.59%
NAD Nuveen Quality Municipal Income Fund	0.07%	11.29%	8.74%	1.26%	-22.85%	9.70%	10.33%	21.92%	-6.10%	6.37%

Correlation

The correlation between PDI and NAD is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since May 29, 2012	0.23

The correlation between PDI and NAD shifts across timeframes, from 0.19 (1 year) to 0.32 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap PDI : $6.89B NAD : $2.73B
EPS PDI : $3.86 NAD : $2.47
PE Ratio PDI : 4.33 NAD : 4.73
PEG Ratio PDI : 0.07 NAD : 0.02
PS Ratio PDI : 3.21 NAD : 6.64
PB Ratio PDI : 0.93 NAD : 0.95
Total Revenue (TTM) PDI : $2.03B NAD : $410.48M
Gross Profit (TTM) PDI : $1.51B NAD : $385.55M
EBITDA (TTM) PDI : $2.09B NAD : $744.52M

Return for Risk

PDI vs. NAD — Risk / Return Rank

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

PDI

PDI Risk / Return Rank: 44
PDI Sharpe Ratio Rank: 48
PDI Sortino Ratio Rank: 37
PDI Omega Ratio Rank: 40
PDI Calmar Ratio Rank: 46
PDI Martin Ratio Rank: 47

NAD

NAD Risk / Return Rank: 74
NAD Sharpe Ratio Rank: 76
NAD Sortino Ratio Rank: 70
NAD Omega Ratio Rank: 72
NAD Calmar Ratio Rank: 70
NAD Martin Ratio Rank: 80

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.

PDI vs. NAD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Dynamic Income Fund (PDI) and Nuveen Quality Municipal Income Fund (NAD). 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.

	PDI	NAD	Difference
Sharpe ratio: Return per unit of total volatility	0.17	1.14	-0.96
Sortino ratio: Return per unit of downside risk	0.29	1.69	-1.40
Omega ratio: Gain probability vs. loss probability	1.05	1.23	-0.18
Calmar ratio: Return relative to maximum drawdown	0.18	1.53	-1.35
Martin ratio: Return relative to average drawdown	0.39	6.03	-5.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PDI vs. NAD - Sharpe Ratio Comparison

The current PDI Sharpe Ratio is 0.17, which is lower than the NAD Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of PDI and NAD, 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

	PDI	NAD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.17	1.14	-0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	-0.03	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.22	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.38	+0.21

Drawdowns

PDI vs. NAD - Drawdown Comparison

The maximum PDI drawdown since its inception was -46.47%, roughly equal to the maximum NAD drawdown of -44.65%. Use the drawdown chart below to compare losses from any high point for PDI and NAD.

Drawdown Indicators

	PDI	NAD	Difference
Max Drawdown Largest peak-to-trough decline	-46.47%	-44.65%	-1.82%
Max Drawdown (1Y) Largest decline over 1 year	-10.95%	-8.08%	-2.87%
Max Drawdown (3Y) Largest decline over 3 years	-17.55%	-14.69%	-2.86%
Max Drawdown (5Y) Largest decline over 5 years	-27.23%	-35.58%	+8.35%
Max Drawdown (10Y) Largest decline over 10 years	-46.47%	-35.58%	-10.89%
Current Drawdown Current decline from peak	-7.57%	-5.89%	-1.68%
Average Drawdown Average peak-to-trough decline	-6.22%	-7.82%	+1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.98%	2.05%	+2.93%

Volatility

PDI vs. NAD - Volatility Comparison

PIMCO Dynamic Income Fund (PDI) and Nuveen Quality Municipal Income Fund (NAD) have volatilities of 3.21% and 3.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDI	NAD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	3.22%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	8.14%	9.26%	-1.12%
Volatility (1Y) Calculated over the trailing 1-year period	11.24%	10.88%	+0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.53%	11.61%	+3.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.05%	11.93%	+7.12%

Dividends

PDI vs. NAD - Dividend Comparison

PDI's dividend yield for the trailing twelve months is around 15.84%, more than NAD's 7.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NAD Nuveen Quality Municipal Income Fund	7.37%	7.37%	6.63%	4.13%	5.58%	4.43%	4.41%	4.40%	5.37%	5.42%	6.05%	5.96%
PDI PIMCO Dynamic Income Fund	15.84%	14.94%	14.43%	14.74%	17.84%	10.21%	10.01%	9.45%	10.78%	8.81%	14.79%	18.70%

Financials

Frequently Asked Questions

Can I hold both PDI and NAD in my portfolio?

PDI and NAD have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PDI or NAD?

NAD has higher volatility (3.22%) compared to PDI (3.21%). In terms of maximum drawdown, PDI dropped -46.47% vs NAD's -44.65%.

Which has better risk-adjusted returns?

NAD currently has the higher Sharpe Ratio (1.14 vs 0.17), 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.