PDO vs. DLY
PDO (Pimco Dynamic Income Opportunities Fund) is a stock, while DLY (DoubleLine Yield Opportunities Fund) is Multisector Bonds fund actively managed by DoubleLine. Over the past 5 years, PDO returned 1.78%/yr vs 1.84%/yr for DLY. At a 0.38 correlation, their price movements are largely independent.
Performance
PDO vs. DLY - Performance Comparison
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Returns By Period
In the year-to-date period, PDO achieves a -1.72% return, which is significantly lower than DLY's -0.52% return.
PDO
- 1D
- 0.78%
- 1M
- 1.23%
- YTD
- -1.72%
- 6M
- -1.43%
- 1Y
- 7.30%
- 3Y*
- 12.44%
- 5Y*
- 1.78%
- 10Y*
- —
DLY
- 1D
- 0.14%
- 1M
- -1.28%
- YTD
- -0.52%
- 6M
- -0.27%
- 1Y
- -2.75%
- 3Y*
- 8.64%
- 5Y*
- 1.84%
- 10Y*
- —
PDO vs. DLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PDO Pimco Dynamic Income Opportunities Fund | -1.72% | 13.96% | 24.55% | 8.06% | -23.40% | 5.98% |
DLY DoubleLine Yield Opportunities Fund | -0.52% | 0.63% | 16.29% | 25.48% | -23.08% | 5.78% |
Correlation
The correlation between PDO and DLY is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2021 | 0.38 |
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Return for Risk
PDO vs. DLY — Risk / Return Rank
PDO
DLY
PDO vs. DLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pimco Dynamic Income Opportunities Fund (PDO) and DoubleLine Yield Opportunities Fund (DLY). 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.
| PDO | DLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.95 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | -0.32 | +0.97 |
| Martin ratioReturn relative to average drawdown | 2.29 | -0.79 | +3.07 |
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Drawdowns
PDO vs. DLY - Drawdown Comparison
The maximum PDO drawdown since its inception was -36.83%, which is greater than DLY's maximum drawdown of -28.61%. Use the drawdown chart below to compare losses from any high point for PDO and DLY.
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Drawdown Indicators
| PDO | DLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.83% | -28.61% | -8.22% |
Max Drawdown (1Y)Largest decline over 1 year | -11.18% | -8.74% | -2.44% |
Max Drawdown (3Y)Largest decline over 3 years | -16.55% | -10.81% | -5.74% |
Max Drawdown (5Y)Largest decline over 5 years | -36.83% | -28.61% | -8.22% |
Current DrawdownCurrent decline from peak | -5.54% | -4.62% | -0.92% |
Average DrawdownAverage peak-to-trough decline | -14.37% | -7.81% | -6.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 3.50% | -0.30% |
Volatility
PDO vs. DLY - Volatility Comparison
Pimco Dynamic Income Opportunities Fund (PDO) has a higher volatility of 3.68% compared to DoubleLine Yield Opportunities Fund (DLY) at 1.97%. This indicates that PDO's price experiences larger fluctuations and is considered to be riskier than DLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDO | DLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 1.97% | +1.71% |
Volatility (6M)Calculated over the trailing 6-month period | 9.06% | 6.84% | +2.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.08% | 8.09% | +1.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.80% | 13.57% | +2.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 15.02% | +0.52% |
Dividends
PDO vs. DLY - Dividend Comparison
PDO's dividend yield for the trailing twelve months is around 11.94%, more than DLY's 10.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
DLY DoubleLine Yield Opportunities Fund | 10.08% | 9.63% | 8.85% | 9.84% | 10.67% | 7.49% | 5.67% |
PDO Pimco Dynamic Income Opportunities Fund | 11.94% | 11.09% | 11.29% | 12.54% | 19.09% | 8.56% | 0.00% |
Frequently Asked Questions
PDO and DLY have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDO has higher volatility (3.68%) compared to DLY (1.97%). In terms of maximum drawdown, PDO dropped -36.83% vs DLY's -28.61%.
PDO currently has the higher Sharpe Ratio (0.73 vs -0.34), 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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