PDI vs. PFN
PDI (PIMCO Dynamic Income Fund) is a stock, while PFN (PIMCO Income Strategy Fund II) is Multisector Bonds fund actively managed by PIMCO. Over the past 10 years, PDI returned 6.65%/yr vs 7.99%/yr for PFN. Their 0.45 correlation means their historical movements had little consistent relationship.
Performance
PDI vs. PFN - Performance Comparison
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Returns By Period
In the year-to-date period, PDI achieves a -0.41% return, which is significantly lower than PFN's 1.15% return. Over the past 10 years, PDI has underperformed PFN with an annualized return of 6.65%, while PFN has yielded a comparatively higher 7.99% annualized return.
PDI
- 1D
- 1.44%
- 1M
- -2.00%
- 6M
- -5.51%
- YTD
- -0.41%
- 1Y
- -3.13%
- 3Y*
- 8.49%
- 5Y*
- 2.38%
- 10Y*
- 6.65%
- ALL TIME*
- 9.92%
PFN
- 1D
- -0.28%
- 1M
- 0.17%
- 6M
- 0.72%
- YTD
- 1.15%
- 1Y
- 5.24%
- 3Y*
- 11.84%
- 5Y*
- 1.93%
- 10Y*
- 7.99%
- ALL TIME*
- 6.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $46.87M | $42.96M | $45.76M | |
| $2.72M | $4.58M | $3.39M |
PDI vs. PFN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PDI PIMCO Dynamic Income Fund | -0.41% | 11.03% | 17.18% | 11.99% | -16.99% | 7.81% | -9.96% | 22.23% | 7.35% | 18.59% |
PFN PIMCO Income Strategy Fund II | 1.15% | 13.07% | 15.72% | 15.43% | -17.65% | 5.14% | 3.97% | 21.84% | 0.94% | 20.58% |
Correlation
The correlation between PDI and PFN is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.44 |
Correlation (3Y) Balances recent behavior with more history. | 0.48 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.54 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.50 |
Correlation (All Time) Calculated using the full available price history since May 25, 2012 | 0.45 |
The correlation between PDI and PFN has been stable across timeframes, ranging from 0.44 to 0.54 - a consistent structural relationship.
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Return for Risk
PDI vs. PFN — Risk / Return Rank
PDI
PFN
PDI vs. PFN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Dynamic Income Fund (PDI) and PIMCO Income Strategy Fund II (PFN). 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 | PFN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.10 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | 0.49 | -0.78 |
| Martin ratioReturn relative to average drawdown | -0.54 | 1.77 | -2.31 |
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Drawdowns
PDI vs. PFN - Drawdown Comparison
The maximum PDI drawdown since its inception was -46.47%, smaller than the maximum PFN drawdown of -80.08%. Use the drawdown chart below to compare losses from any high point for PDI and PFN.
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Drawdown Indicators
| PDI | PFN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.47% | -80.08% | +33.61% |
Max Drawdown (1Y)Largest decline over 1 year | -10.95% | -10.77% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -17.55% | -14.31% | -3.24% |
Max Drawdown (5Y)Largest decline over 5 years | -27.19% | -33.45% | +6.26% |
Max Drawdown (10Y)Largest decline over 10 years | -46.47% | -45.70% | -0.77% |
Current DrawdownCurrent decline from peak | -8.20% | -1.26% | -6.94% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -11.75% | +5.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.84% | 2.96% | +2.88% |
Volatility
PDI vs. PFN - Volatility Comparison
PIMCO Dynamic Income Fund (PDI) has a higher volatility of 3.44% compared to PIMCO Income Strategy Fund II (PFN) at 1.76%. This indicates that PDI's price experiences larger fluctuations and is considered to be riskier than PFN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDI | PFN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 1.76% | +1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 9.00% | 8.86% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.93% | 10.30% | +1.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.60% | 14.54% | +1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.06% | 18.18% | +0.88% |
Dividends
PDI vs. PFN - Dividend Comparison
PDI's dividend yield for the trailing twelve months is around 16.39%, more than PFN's 12.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PDI PIMCO Dynamic Income Fund | 16.39% | 14.94% | 14.43% | 14.74% | 17.84% | 10.21% | 10.01% | 9.45% | 10.78% | 8.81% | 14.79% | 18.70% |
PFN PIMCO Income Strategy Fund II | 12.19% | 11.49% | 11.57% | 11.92% | 12.19% | 9.71% | 9.67% | 9.07% | 10.81% | 9.20% | 10.12% | 11.74% |
Frequently Asked Questions
PDI and PFN have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDI has higher volatility (3.44%) compared to PFN (1.76%). In terms of maximum drawdown, PDI dropped -46.47% vs PFN's -80.08%.
PFN currently has the higher Sharpe Ratio (0.51 vs -0.26), 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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