PFN vs. WDI
PFN (PIMCO Income Strategy Fund II) and WDI (Western Asset Diversified Income Fund) are both Multisector Bonds funds. Over the past 5 years, PFN returned 2.52%/yr vs 2.79%/yr for WDI. Their 0.42 correlation means their historical movements had little consistent relationship. PFN charges 1.86%/yr vs 1.73%/yr for WDI.
Performance
PFN vs. WDI - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with PFN having a 1.29% return and WDI slightly higher at 1.31%.
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%
WDI
- 1D
- 0.23%
- 1M
- -3.24%
- 6M
- 0.65%
- YTD
- 1.31%
- 1Y
- -0.43%
- 3Y*
- 11.36%
- 5Y*
- 2.79%
- 10Y*
- —
- ALL TIME*
- 2.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.77M | $4.68M | $3.43M | |
| $2.64M | $2.38M | $2.43M |
PFN vs. WDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PFN PIMCO Income Strategy Fund II | 1.29% | 13.07% | 15.72% | 15.43% | -17.65% | -9.51% |
WDI Western Asset Diversified Income Fund | 1.31% | 10.64% | 13.88% | 25.11% | -23.30% | -5.61% |
Correlation
The correlation between PFN and WDI is 0.42, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.42 |
Correlation (3Y) Balances recent behavior with more history. | 0.41 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2021 | 0.42 |
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Return for Risk
PFN vs. WDI — Risk / Return Rank
PFN
WDI
PFN vs. WDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Strategy Fund II (PFN) and Western Asset Diversified Income Fund (WDI). 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 | WDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.00 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | -0.03 | +0.60 |
| Martin ratioReturn relative to average drawdown | 2.06 | -0.08 | +2.14 |
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Drawdowns
PFN vs. WDI - Drawdown Comparison
The maximum PFN drawdown since its inception was -80.08%, which is greater than WDI's maximum drawdown of -32.45%. Use the drawdown chart below to compare losses from any high point for PFN and WDI.
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Drawdown Indicators
| PFN | WDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.08% | -32.45% | -47.63% |
Max Drawdown (1Y)Largest decline over 1 year | -10.77% | -8.47% | -2.30% |
Max Drawdown (3Y)Largest decline over 3 years | -14.31% | -14.14% | -0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -33.45% | -32.45% | -1.00% |
Max Drawdown (10Y)Largest decline over 10 years | -45.70% | — | — |
Current DrawdownCurrent decline from peak | -1.12% | -3.87% | +2.75% |
Average DrawdownAverage peak-to-trough decline | -11.75% | -10.16% | -1.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 3.53% | -0.57% |
Volatility
PFN vs. WDI - Volatility Comparison
The current volatility for PIMCO Income Strategy Fund II (PFN) is 1.76%, while Western Asset Diversified Income Fund (WDI) has a volatility of 2.97%. This indicates that PFN experiences smaller price fluctuations and is considered to be less risky than WDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFN | WDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 2.97% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 8.87% | 7.97% | +0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.30% | 9.72% | +0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.55% | 13.00% | +1.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.18% | 12.88% | +5.30% |
PFN vs. WDI - Expense Ratio Comparison
PFN has a 1.86% expense ratio, which is higher than WDI's 1.73% expense ratio.
Dividends
PFN vs. WDI - Dividend Comparison
PFN's dividend yield for the trailing twelve months is around 12.17%, less than WDI's 13.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
WDI Western Asset Diversified Income Fund | 13.60% | 13.98% | 12.32% | 11.45% | 11.40% | 3.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PFN and WDI 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.
WDI has higher volatility (2.97%) compared to PFN (1.76%). In terms of maximum drawdown, PFN dropped -80.08% vs WDI's -32.45%.
PFN currently has the higher Sharpe Ratio (0.59 vs -0.03), 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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