PYLD vs. CRDT

Last updated Jun 4, 2026

PYLD (PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund) and CRDT (Simplify Opportunistic Income ETF) are both Multisector Bonds funds. Both are actively managed. Over the past year, PYLD returned 7.40% vs 2.41% for CRDT. At a 0.35 correlation, their price movements are largely independent. PYLD charges 0.55%/yr vs 0.50%/yr for CRDT.

Performance

PYLD vs. CRDT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) and Simplify Opportunistic Income ETF (CRDT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PYLD achieves a 0.95% return, which is significantly lower than CRDT's 2.58% return.

PYLD

• 1D: -0.23%
• 1M: 0.53%
• YTD: 0.95%
• 6M: 1.31%
• 1Y: 7.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CRDT

• 1D: -1.49%
• 1M: 1.76%
• YTD: 2.58%
• 6M: 3.24%
• 1Y: 2.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PYLD vs. CRDT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PYLD PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund	0.95%	9.57%	7.69%	5.36%
CRDT Simplify Opportunistic Income ETF	2.58%	-0.67%	5.19%	5.16%

Correlation

The correlation between PYLD and CRDT is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jun 28, 2023	0.35

The correlation between PYLD and CRDT shifts across timeframes, from 0.35 (all time) to 0.46 (1 year), reflecting how their relationship changes across market environments.

PYLD vs. CRDT - Sectors Allocation Comparison

Sectors	PYLD	CRDT
Energy	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	0.5%
Consumer Defensive	-	-
Financial Services	-	0.5%
Healthcare	-	-
Industrials	-	-
Real Estate	-	7.0%
Technology	-	-
Utilities	-	-

Return for Risk

PYLD vs. CRDT — Risk / Return Rank

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

PYLD

PYLD Risk / Return Rank: 66
PYLD Sharpe Ratio Rank: 72
PYLD Sortino Ratio Rank: 78
PYLD Omega Ratio Rank: 79
PYLD Calmar Ratio Rank: 45
PYLD Martin Ratio Rank: 58

CRDT

CRDT Risk / Return Rank: 13
CRDT Sharpe Ratio Rank: 13
CRDT Sortino Ratio Rank: 12
CRDT Omega Ratio Rank: 12
CRDT Calmar Ratio Rank: 13
CRDT Martin Ratio Rank: 14

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. CRDT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) and Simplify Opportunistic Income ETF (CRDT). 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.

	PYLD	CRDT	Difference
Sharpe ratio: Return per unit of total volatility	2.42	0.28	+2.14
Sortino ratio: Return per unit of downside risk	3.56	0.43	+3.13
Omega ratio: Gain probability vs. loss probability	1.48	1.06	+0.42
Calmar ratio: Return relative to maximum drawdown	2.29	0.34	+1.95
Martin ratio: Return relative to average drawdown	10.44	1.01	+9.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PYLD vs. CRDT - Sharpe Ratio Comparison

The current PYLD Sharpe Ratio is 2.42, which is higher than the CRDT Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of PYLD and CRDT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PYLD	CRDT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	0.28	+2.14
Sharpe Ratio (All Time) Calculated using the full available price history	2.04	0.59	+1.45

Drawdowns

PYLD vs. CRDT - Drawdown Comparison

The maximum PYLD drawdown since its inception was -4.52%, smaller than the maximum CRDT drawdown of -9.80%. Use the drawdown chart below to compare losses from any high point for PYLD and CRDT.

Drawdown Indicators

	PYLD	CRDT	Difference
Max Drawdown Largest peak-to-trough decline	-4.52%	-9.80%	+5.28%
Max Drawdown (1Y) Largest decline over 1 year	-3.25%	-7.18%	+3.93%
Current Drawdown Current decline from peak	-0.44%	-2.66%	+2.22%
Average Drawdown Average peak-to-trough decline	-0.65%	-2.32%	+1.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	2.40%	-1.69%

Volatility

PYLD vs. CRDT - Volatility Comparison

The current volatility for PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) is 1.24%, while Simplify Opportunistic Income ETF (CRDT) has a volatility of 3.75%. This indicates that PYLD experiences smaller price fluctuations and is considered to be less risky than CRDT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PYLD	CRDT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.24%	3.75%	-2.51%
Volatility (6M) Calculated over the trailing 6-month period	2.50%	7.64%	-5.14%
Volatility (1Y) Calculated over the trailing 1-year period	3.08%	8.77%	-5.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.99%	7.05%	-3.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.99%	7.05%	-3.06%

PYLD vs. CRDT - Expense Ratio Comparison

PYLD has a 0.55% expense ratio, which is higher than CRDT's 0.50% expense ratio.

Dividends

PYLD vs. CRDT - Dividend Comparison

PYLD's dividend yield for the trailing twelve months is around 6.30%, which matches CRDT's 6.29% yield.

Position	TTM	2025	2024	2023
CRDT Simplify Opportunistic Income ETF	6.29%	7.04%	7.29%	2.59%
PYLD PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund	6.30%	6.21%	6.40%	2.72%

Frequently Asked Questions

Can I hold both PYLD and CRDT in my portfolio?

PYLD and CRDT 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.

Which is riskier, PYLD or CRDT?

CRDT has higher volatility (3.75%) compared to PYLD (1.24%). In terms of maximum drawdown, PYLD dropped -4.52% vs CRDT's -9.80%.

Which ETF is better, PYLD or CRDT?

On 1-year performance, PYLD leads with 7.40% vs 2.41% for CRDT. On fees, CRDT is cheaper at 0.50% per year. On volatility, PYLD has been the lower-risk option at 1.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PYLD or CRDT?

Over the 1-year period, PYLD has performed better with a 7.40% return vs 2.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PYLD or CRDT?

CRDT is cheaper with a 0.50% expense ratio, compared with 0.55% for PYLD.

Which ETF pays a higher dividend yield, PYLD or CRDT?

PYLD has the higher dividend yield at 6.30%, compared with 6.29% for CRDT.

What is the main difference between PYLD and CRDT?

They also come from different issuers: PIMCO and Simplify. Their fees differ too: 0.55% for PYLD and 0.50% for CRDT.

Which has better risk-adjusted returns?

PYLD currently has the higher Sharpe Ratio (2.42 vs 0.28), 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.