PDIIX vs. PONAX
PDIIX (PIMCO Diversified Income Fund) and PONAX (PIMCO Income Fund Class A) are both Multisector Bonds funds from PIMCO. Over the past 10 years, PDIIX returned 3.90%/yr vs 4.03%/yr for PONAX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. PDIIX charges 0.75%/yr vs 0.94%/yr for PONAX.
Performance
PDIIX vs. PONAX - 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 PONAX's 0.03% return. Both investments have delivered pretty close results over the past 10 years, with PDIIX having a 3.90% annualized return and PONAX not far ahead at 4.03%.
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%
PONAX
- 1D
- 0.09%
- 1M
- -1.20%
- 6M
- -0.53%
- YTD
- 0.03%
- 1Y
- 4.21%
- 3Y*
- 6.49%
- 5Y*
- 2.85%
- 10Y*
- 4.03%
- ALL TIME*
- 6.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PDIIX vs. PONAX - 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% |
PONAX PIMCO Income Fund Class A | 0.03% | 10.63% | 5.02% | 8.96% | -9.34% | 2.21% | 5.40% | 7.65% | 0.21% | 8.19% |
Correlation
The correlation between PDIIX and PONAX is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2007 | 0.76 |
The correlation between PDIIX and PONAX shifts across timeframes, from 0.76 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PDIIX vs. PONAX — Risk / Return Rank
PDIIX
PONAX
PDIIX vs. PONAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Diversified Income Fund (PDIIX) and PIMCO Income Fund Class A (PONAX). 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 | PONAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.25 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.47 | +0.25 |
| Martin ratioReturn relative to average drawdown | 6.69 | 4.57 | +2.12 |
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Drawdowns
PDIIX vs. PONAX - Drawdown Comparison
The maximum PDIIX drawdown since its inception was -21.96%, which is greater than PONAX's maximum drawdown of -13.64%. Use the drawdown chart below to compare losses from any high point for PDIIX and PONAX.
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Drawdown Indicators
| PDIIX | PONAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.96% | -13.64% | -8.32% |
Max Drawdown (1Y)Largest decline over 1 year | -3.55% | -3.69% | +0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -3.94% | -3.69% | -0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -20.50% | -13.64% | -6.86% |
Max Drawdown (10Y)Largest decline over 10 years | -20.50% | -13.64% | -6.86% |
Current DrawdownCurrent decline from peak | -1.50% | -1.82% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -2.80% | -1.79% | -1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 1.19% | -0.28% |
Volatility
PDIIX vs. PONAX - Volatility Comparison
The current volatility for PIMCO Diversified Income Fund (PDIIX) is 0.91%, while PIMCO Income Fund Class A (PONAX) has a volatility of 1.15%. This indicates that PDIIX experiences smaller price fluctuations and is considered to be less risky than PONAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDIIX | PONAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.15% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 3.27% | 3.52% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 4.10% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 4.86% | +0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.89% | 4.22% | +0.67% |
PDIIX vs. PONAX - Expense Ratio Comparison
PDIIX has a 0.75% expense ratio, which is lower than PONAX's 0.94% expense ratio.
Dividends
PDIIX vs. PONAX - Dividend Comparison
PDIIX's dividend yield for the trailing twelve months is around 5.16%, more than PONAX's 4.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PONAX PIMCO Income Fund Class A | 4.95% | 5.61% | 5.86% | 5.86% | 4.66% | 3.62% | 4.48% | 5.42% | 5.24% | 4.97% | 5.13% | 7.45% |
Frequently Asked Questions
With a correlation of 0.91, PDIIX and PONAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PONAX has higher volatility (1.15%) compared to PDIIX (0.91%). In terms of maximum drawdown, PDIIX dropped -21.96% vs PONAX's -13.64%.
PDIIX currently has the higher Sharpe Ratio (1.58 vs 1.33), 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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