PDIIX vs. FBND
PDIIX (PIMCO Diversified Income Fund) and FBND (Fidelity Total Bond ETF) are both funds - PDIIX is a Multisector Bonds fund managed by PIMCO, while FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity. Over the past 10 years, PDIIX returned 3.90%/yr vs 2.27%/yr for FBND. Their 0.64 correlation means they have sometimes moved together and sometimes differently. PDIIX charges 0.75%/yr vs 0.36%/yr for FBND.
Performance
PDIIX vs. FBND - Performance Comparison
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Returns By Period
In the year-to-date period, PDIIX achieves a 0.69% return, which is significantly higher than FBND's -0.33% return. Over the past 10 years, PDIIX has outperformed FBND with an annualized return of 3.90%, while FBND has yielded a comparatively lower 2.27% annualized return.
PDIIX
- 1D
- 0.10%
- 1M
- -1.40%
- 6M
- 0.04%
- YTD
- 0.69%
- 1Y
- 5.22%
- 3Y*
- 7.62%
- 5Y*
- 2.09%
- 10Y*
- 3.90%
- ALL TIME*
- 5.73%
FBND
- 1D
- -0.27%
- 1M
- -1.26%
- 6M
- -0.60%
- YTD
- -0.33%
- 1Y
- 2.08%
- 3Y*
- 4.55%
- 5Y*
- 0.31%
- 10Y*
- 2.27%
- ALL TIME*
- 2.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $133.84M | $127.41M | $124.15M | |
| $0.00 | $0.00 | $0.00 |
PDIIX vs. FBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PDIIX PIMCO Diversified Income Fund | 0.69% | 10.42% | 6.35% | 10.41% | -14.70% | 0.42% | 6.43% | 13.05% | -0.97% | 8.87% |
FBND Fidelity Total Bond ETF | -0.33% | 7.57% | 2.13% | 6.81% | -12.54% | -0.43% | 9.41% | 9.82% | -0.57% | 3.52% |
Correlation
The correlation between PDIIX and FBND is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2014 | 0.64 |
The correlation between PDIIX and FBND shifts across timeframes, from 0.64 (all time) to 0.78 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PDIIX vs. FBND — Risk / Return Rank
PDIIX
FBND
PDIIX vs. FBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Diversified Income Fund (PDIIX) and Fidelity Total Bond ETF (FBND). 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.
| PDIIX | FBND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.81 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.13 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.09 | +0.63 |
| Martin ratioReturn relative to average drawdown | 6.69 | 2.77 | +3.92 |
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Drawdowns
PDIIX vs. FBND - Drawdown Comparison
The maximum PDIIX drawdown since its inception was -21.96%, which is greater than FBND's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for PDIIX and FBND.
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Drawdown Indicators
| PDIIX | FBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.96% | -17.25% | -4.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.55% | -2.66% | -0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -3.94% | -4.95% | +1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -20.50% | -17.25% | -3.25% |
Max Drawdown (10Y)Largest decline over 10 years | -20.50% | -17.25% | -3.25% |
Current DrawdownCurrent decline from peak | -1.50% | -2.24% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -2.80% | -3.32% | +0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 1.05% | -0.14% |
Volatility
PDIIX vs. FBND - Volatility Comparison
PIMCO Diversified Income Fund (PDIIX) and Fidelity Total Bond ETF (FBND) have volatilities of 0.91% and 0.95%, 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.
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Volatility by Period
| PDIIX | FBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 0.95% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.27% | 2.94% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 3.77% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 5.93% | -0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.89% | 6.10% | -1.21% |
PDIIX vs. FBND - Expense Ratio Comparison
PDIIX has a 0.75% expense ratio, which is higher than FBND's 0.36% expense ratio.
Dividends
PDIIX vs. FBND - Dividend Comparison
PDIIX's dividend yield for the trailing twelve months is around 5.16%, more than FBND's 4.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 4.77% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
PDIIX PIMCO Diversified Income Fund | 5.16% | 5.42% | 5.18% | 4.66% | 3.91% | 3.65% | 3.68% | 5.04% | 4.46% | 4.84% | 4.94% | 7.68% |
Frequently Asked Questions
PDIIX and FBND have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBND has higher volatility (0.95%) compared to PDIIX (0.91%). In terms of maximum drawdown, PDIIX dropped -21.96% vs FBND's -17.25%.
PDIIX currently has the higher Sharpe Ratio (1.58 vs 0.77), 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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