PFN vs. PDI
PFN (PIMCO Income Strategy Fund II) is Multisector Bonds fund actively managed by PIMCO, while PDI (PIMCO Dynamic Income Fund) is a stock. Over the past 10 years, PFN returned 8.13%/yr vs 6.63%/yr for PDI. Their 0.45 correlation means their historical movements had little consistent relationship.
Performance
PFN vs. PDI - Performance Comparison
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Returns By Period
In the year-to-date period, PFN achieves a 1.29% return, which is significantly higher than PDI's -1.34% return. Over the past 10 years, PFN has outperformed PDI with an annualized return of 8.13%, while PDI has yielded a comparatively lower 6.63% annualized return.
PFN
- 1D
- 0.28%
- 1M
- 0.31%
- 6M
- 1.68%
- YTD
- 1.29%
- 1Y
- 5.81%
- 3Y*
- 12.15%
- 5Y*
- 2.52%
- 10Y*
- 8.13%
- ALL TIME*
- 6.02%
PDI
- 1D
- -0.68%
- 1M
- -2.92%
- 6M
- -5.41%
- YTD
- -1.34%
- 1Y
- -3.63%
- 3Y*
- 8.66%
- 5Y*
- 2.52%
- 10Y*
- 6.63%
- ALL TIME*
- 9.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $42.57M | $40.75M | $45.28M | |
| $2.77M | $4.68M | $3.43M |
PFN vs. PDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFN PIMCO Income Strategy Fund II | 1.29% | 13.07% | 15.72% | 15.43% | -17.65% | 5.14% | 3.97% | 21.84% | 0.94% | 20.58% |
PDI PIMCO Dynamic Income Fund | -1.34% | 11.03% | 17.18% | 11.99% | -16.99% | 7.81% | -9.96% | 22.23% | 7.35% | 18.59% |
Correlation
The correlation between PFN and PDI is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
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 PFN and PDI has been stable across timeframes, ranging from 0.45 to 0.54 - a consistent structural relationship.
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Return for Risk
PFN vs. PDI — Risk / Return Rank
PFN
PDI
PFN vs. PDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Strategy Fund II (PFN) and PIMCO Dynamic Income Fund (PDI). 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.
| PFN | PDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.95 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | -0.32 | +0.89 |
| Martin ratioReturn relative to average drawdown | 2.06 | -0.61 | +2.67 |
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Drawdowns
PFN vs. PDI - Drawdown Comparison
The maximum PFN drawdown since its inception was -80.08%, which is greater than PDI's maximum drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for PFN and PDI.
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Drawdown Indicators
| PFN | PDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.08% | -46.47% | -33.61% |
Max Drawdown (1Y)Largest decline over 1 year | -10.77% | -10.95% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -14.31% | -17.55% | +3.24% |
Max Drawdown (5Y)Largest decline over 5 years | -33.45% | -27.19% | -6.26% |
Max Drawdown (10Y)Largest decline over 10 years | -45.70% | -46.47% | +0.77% |
Current DrawdownCurrent decline from peak | -1.12% | -9.05% | +7.93% |
Average DrawdownAverage peak-to-trough decline | -11.75% | -6.23% | -5.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 5.78% | -2.82% |
Volatility
PFN vs. PDI - Volatility Comparison
The current volatility for PIMCO Income Strategy Fund II (PFN) is 1.76%, while PIMCO Dynamic Income Fund (PDI) has a volatility of 3.04%. This indicates that PFN experiences smaller price fluctuations and is considered to be less risky than PDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFN | PDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 3.04% | -1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 8.87% | 8.89% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.30% | 11.83% | -1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.55% | 15.58% | -1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.18% | 19.05% | -0.87% |
Dividends
PFN vs. PDI - Dividend Comparison
PFN's dividend yield for the trailing twelve months is around 12.17%, less than PDI's 16.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PDI PIMCO Dynamic Income Fund | 16.54% | 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 | 12.17% | 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
PFN and PDI have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDI has higher volatility (3.04%) compared to PFN (1.76%). In terms of maximum drawdown, PFN dropped -80.08% vs PDI's -46.47%.
PFN currently has the higher Sharpe Ratio (0.59 vs -0.30), 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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