PYLD vs. BSIIX

Last updated Jun 20, 2026

PYLD (PIMCO Multisector Bond Active Exchange-Traded Fund) and BSIIX (BlackRock Strategic Income Opportunities Fund Class I) are both funds - PYLD is a Multisector Bonds fund actively managed by PIMCO, while BSIIX is a Total Bond Market fund managed by BlackRock. Over the past year, PYLD returned 7.32% vs 6.95% for BSIIX. A 0.77 correlation means they provide meaningful diversification when combined. PYLD charges 0.55%/yr vs 0.69%/yr for BSIIX.

Performance

PYLD vs. BSIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) and BlackRock Strategic Income Opportunities Fund Class I (BSIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PYLD achieves a 1.48% return, which is significantly lower than BSIIX's 2.00% return.

PYLD

• 1D: 0.23%
• 1M: 1.37%
• YTD: 1.48%
• 6M: 1.77%
• 1Y: 7.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BSIIX

• 1D: -0.10%
• 1M: 1.23%
• YTD: 2.00%
• 6M: 2.57%
• 1Y: 6.95%
• 3Y*: 6.84%
• 5Y*: 3.01%
• 10Y*: 3.85%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PYLD vs. BSIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund	1.48%	9.57%	7.69%	5.46%
BSIIX BlackRock Strategic Income Opportunities Fund Class I	2.00%	8.59%	5.22%	4.63%

Correlation

The correlation between PYLD and BSIIX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.77

The correlation between PYLD and BSIIX has been stable across timeframes, ranging from 0.73 to 0.77 - a consistent structural relationship.

Return for Risk

PYLD vs. BSIIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PYLD

PYLD Risk / Return Rank: 71
PYLD Sharpe Ratio Rank: 80
PYLD Sortino Ratio Rank: 84
PYLD Omega Ratio Rank: 84
PYLD Calmar Ratio Rank: 48
PYLD Martin Ratio Rank: 60

BSIIX

BSIIX Risk / Return Rank: 69
BSIIX Sharpe Ratio Rank: 79
BSIIX Sortino Ratio Rank: 86
BSIIX Omega Ratio Rank: 83
BSIIX Calmar Ratio Rank: 48
BSIIX Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PYLD vs. BSIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) and BlackRock Strategic Income Opportunities Fund Class I (BSIIX). 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.

	PYLD	BSIIX	Difference
Sharpe ratio: Return per unit of total volatility	2.40	2.36	+0.04
Sortino ratio: Return per unit of downside risk	3.52	3.73	-0.21
Omega ratio: Gain probability vs. loss probability	1.48	1.50	-0.02
Calmar ratio: Return relative to maximum drawdown	2.26	2.46	-0.19
Martin ratio: Return relative to average drawdown	10.26	9.49	+0.77

PYLD vs. BSIIX - Sharpe Ratio Comparison

The current PYLD Sharpe Ratio is 2.40, which is comparable to the BSIIX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of PYLD and BSIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PYLD vs. BSIIX - Drawdown Comparison

The maximum PYLD drawdown since its inception was -4.52%, smaller than the maximum BSIIX drawdown of -18.76%. Use the drawdown chart below to compare losses from any high point for PYLD and BSIIX.

Drawdown Indicators

	PYLD	BSIIX	Difference
Max Drawdown Largest peak-to-trough decline	-4.52%	-18.76%	+14.24%
Max Drawdown (1Y) Largest decline over 1 year	-3.25%	-2.84%	-0.41%
Max Drawdown (3Y) Largest decline over 3 years	—	-2.84%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-9.13%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-9.91%	—
Current Drawdown Current decline from peak	-0.23%	-0.31%	+0.08%
Average Drawdown Average peak-to-trough decline	-0.65%	-1.80%	+1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	0.73%	-0.02%

Volatility

PYLD vs. BSIIX - Volatility Comparison

PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) has a higher volatility of 1.13% compared to BlackRock Strategic Income Opportunities Fund Class I (BSIIX) at 0.92%. This indicates that PYLD's price experiences larger fluctuations and is considered to be riskier than BSIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PYLD	BSIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	0.92%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	2.60%	2.37%	+0.23%
Volatility (1Y) Calculated over the trailing 1-year period	3.06%	2.96%	+0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.99%	3.65%	+0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.99%	3.15%	+0.84%

PYLD vs. BSIIX - Expense Ratio Comparison

PYLD has a 0.55% expense ratio, which is lower than BSIIX's 0.69% expense ratio.

Dividends

PYLD vs. BSIIX - Dividend Comparison

PYLD's dividend yield for the trailing twelve months is around 6.26%, more than BSIIX's 5.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSIIX BlackRock Strategic Income Opportunities Fund Class I	5.15%	5.07%	4.75%	3.33%	3.58%	2.98%	2.92%	3.54%	3.32%	3.45%	2.91%	3.19%
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund	6.26%	6.21%	6.40%	2.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PYLD and BSIIX in my portfolio?

PYLD and BSIIX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PYLD or BSIIX?

PYLD has higher volatility (1.13%) compared to BSIIX (0.92%). In terms of maximum drawdown, PYLD dropped -4.52% vs BSIIX's -18.76%.

Which has better risk-adjusted returns?

PYLD currently has the higher Sharpe Ratio (2.40 vs 2.36), 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.