PDI vs. PCN

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO Dynamic Income Fund (PDI) and PIMCO Corporate & Income Strategy Fund (PCN).

PCN is managed by PIMCO. It was launched on Dec 20, 2001.

Performance

PDI vs. PCN - Performance Comparison

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

PDI vs. PCN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PDI PIMCO Dynamic Income Fund	0.17%	11.03%	17.18%	11.99%	-16.99%	7.81%	-9.96%	22.23%	7.35%	18.59%
PCN PIMCO Corporate & Income Strategy Fund	-4.21%	5.55%	19.52%	16.22%	-22.88%	6.93%	-2.19%	39.10%	-5.94%	26.20%

Returns By Period

In the year-to-date period, PDI achieves a 0.17% return, which is significantly higher than PCN's -4.21% return. Both investments have delivered pretty close results over the past 10 years, with PDI having a 8.14% annualized return and PCN not far ahead at 8.27%.

PDI

• 1D: 3.13%
• 1M: -3.71%
• YTD: 0.17%
• 6M: -7.15%
• 1Y: -0.44%
• 3Y*: 13.14%
• 5Y*: 3.57%
• 10Y*: 8.14%

PCN

• 1D: 3.48%
• 1M: -4.53%
• YTD: -4.21%
• 6M: -6.22%
• 1Y: -3.05%
• 3Y*: 8.96%
• 5Y*: 2.37%
• 10Y*: 8.27%

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

Return for Risk

PDI vs. PCN — Risk / Return Rank

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

PDI

PDI Risk / Return Rank: 38
PDI Sharpe Ratio Rank: 41
PDI Sortino Ratio Rank: 33
PDI Omega Ratio Rank: 34
PDI Calmar Ratio Rank: 42
PDI Martin Ratio Rank: 42

PCN

PCN Risk / Return Rank: 3
PCN Sharpe Ratio Rank: 3
PCN Sortino Ratio Rank: 3
PCN Omega Ratio Rank: 3
PCN Calmar Ratio Rank: 4
PCN Martin Ratio Rank: 3

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. PCN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Dynamic Income Fund (PDI) and PIMCO Corporate & Income Strategy Fund (PCN). 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	PCN	Difference
Sharpe ratio Return per unit of total volatility	-0.02	-0.20	+0.17
Sortino ratio Return per unit of downside risk	0.09	-0.15	+0.24
Omega ratio Gain probability vs. loss probability	1.02	0.97	+0.05
Calmar ratio Return relative to maximum drawdown	-0.01	-0.20	+0.20
Martin ratio Return relative to average drawdown	-0.03	-0.66	+0.63
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. PCN - Sharpe Ratio Comparison

The current PDI Sharpe Ratio is -0.02, which is higher than the PCN Sharpe Ratio of -0.20. The chart below compares the historical Sharpe Ratios of PDI and PCN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PDI	PCN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.02	-0.20	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.14	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.38	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.39	+0.20

Correlation

The correlation between PDI and PCN is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PDI vs. PCN - Dividend Comparison

PDI's dividend yield for the trailing twelve months is around 15.46%, more than PCN's 11.34% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PDI PIMCO Dynamic Income Fund	15.46%	14.94%	14.43%	14.74%	17.84%	10.21%	10.01%	9.45%	10.78%	8.81%	14.79%	18.70%
PCN PIMCO Corporate & Income Strategy Fund	11.34%	10.58%	10.06%	10.88%	12.66%	7.89%	7.83%	7.37%	9.60%	7.85%	11.98%	10.22%

Drawdowns

PDI vs. PCN - Drawdown Comparison

The maximum PDI drawdown since its inception was -46.47%, smaller than the maximum PCN drawdown of -61.12%. Use the drawdown chart below to compare losses from any high point for PDI and PCN.

Drawdown Indicators

	PDI	PCN	Difference
Max Drawdown Largest peak-to-trough decline	-46.47%	-61.12%	+14.65%
Max Drawdown (1Y) Largest decline over 1 year	-14.34%	-13.78%	-0.56%
Max Drawdown (5Y) Largest decline over 5 years	-27.23%	-33.39%	+6.16%
Max Drawdown (10Y) Largest decline over 10 years	-46.47%	-50.27%	+3.80%
Current Drawdown Current decline from peak	-7.66%	-6.71%	-0.95%
Average Drawdown Average peak-to-trough decline	-6.22%	-7.22%	+1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.03%	4.32%	+0.71%

Volatility

PDI vs. PCN - Volatility Comparison

PIMCO Dynamic Income Fund (PDI) and PIMCO Corporate & Income Strategy Fund (PCN) have volatilities of 5.71% and 5.81%, 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	PCN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.71%	5.81%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	9.96%	8.64%	+1.32%
Volatility (1Y) Calculated over the trailing 1-year period	18.36%	15.69%	+2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.66%	16.55%	-0.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.06%	21.97%	-2.91%