XPAY vs. PDI

Last updated Jun 5, 2026

XPAY (Roundhill S&P 500 Target 20 Managed Distribution ETF) is Derivative Income fund actively managed by Roundhill, while PDI (PIMCO Dynamic Income Fund) is a stock. Over the past year, XPAY returned 27.57% vs 2.82% for PDI. At a 0.42 correlation, their price movements are largely independent.

Performance

XPAY vs. PDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY) and PIMCO Dynamic Income Fund (PDI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XPAY achieves a 11.30% return, which is significantly higher than PDI's 0.99% return.

XPAY

• 1D: 0.42%
• 1M: 4.66%
• YTD: 11.30%
• 6M: 11.03%
• 1Y: 27.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PDI

• 1D: 0.54%
• 1M: -2.95%
• YTD: 0.99%
• 6M: -0.02%
• 1Y: 2.82%
• 3Y*: 11.51%
• 5Y*: 2.79%
• 10Y*: 7.55%

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

XPAY vs. PDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	11.30%	16.78%	3.17%
PDI PIMCO Dynamic Income Fund	0.99%	11.03%	-3.84%

Correlation

The correlation between XPAY and PDI is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (All Time) Calculated using the full available price history since Nov 1, 2024	0.42

Return for Risk

XPAY vs. PDI — Risk / Return Rank

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

XPAY

XPAY Risk / Return Rank: 70
XPAY Sharpe Ratio Rank: 73
XPAY Sortino Ratio Rank: 71
XPAY Omega Ratio Rank: 72
XPAY Calmar Ratio Rank: 61
XPAY Martin Ratio Rank: 74

PDI

PDI Risk / Return Rank: 46
PDI Sharpe Ratio Rank: 51
PDI Sortino Ratio Rank: 40
PDI Omega Ratio Rank: 43
PDI Calmar Ratio Rank: 48
PDI Martin Ratio Rank: 49

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.

XPAY vs. PDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY) 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.

	XPAY	PDI	Difference
Sharpe ratio: Return per unit of total volatility	2.34	0.25	+2.09
Sortino ratio: Return per unit of downside risk	3.18	0.39	+2.79
Omega ratio: Gain probability vs. loss probability	1.42	1.07	+0.36
Calmar ratio: Return relative to maximum drawdown	2.97	0.26	+2.71
Martin ratio: Return relative to average drawdown	13.67	0.57	+13.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XPAY vs. PDI - Sharpe Ratio Comparison

The current XPAY Sharpe Ratio is 2.34, which is higher than the PDI Sharpe Ratio of 0.25. The chart below compares the historical Sharpe Ratios of XPAY and PDI, 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

	XPAY	PDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	0.25	+2.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.18	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.23	0.59	+0.64

Drawdowns

XPAY vs. PDI - Drawdown Comparison

The maximum XPAY drawdown since its inception was -18.20%, smaller than the maximum PDI drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for XPAY and PDI.

Drawdown Indicators

	XPAY	PDI	Difference
Max Drawdown Largest peak-to-trough decline	-18.20%	-46.47%	+28.27%
Max Drawdown (1Y) Largest decline over 1 year	-9.34%	-10.95%	+1.61%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.55%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.47%	—
Current Drawdown Current decline from peak	-0.26%	-6.91%	+6.65%
Average Drawdown Average peak-to-trough decline	-2.36%	-6.22%	+3.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	4.94%	-2.92%

Volatility

XPAY vs. PDI - Volatility Comparison

The current volatility for Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY) is 2.70%, while PIMCO Dynamic Income Fund (PDI) has a volatility of 3.32%. This indicates that XPAY 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.

Volatility by Period

	XPAY	PDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	3.32%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	8.82%	8.12%	+0.70%
Volatility (1Y) Calculated over the trailing 1-year period	11.82%	11.21%	+0.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.68%	15.53%	+1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.68%	19.05%	-2.37%

Dividends

XPAY vs. PDI - Dividend Comparison

XPAY's dividend yield for the trailing twelve months is around 20.28%, more than PDI's 15.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PDI PIMCO Dynamic Income Fund	15.73%	14.94%	14.43%	14.74%	17.84%	10.21%	10.01%	9.45%	10.78%	8.81%	14.79%	18.70%
XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF	20.28%	21.21%	3.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XPAY and PDI in my portfolio?

XPAY and PDI have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XPAY or PDI?

PDI has higher volatility (3.32%) compared to XPAY (2.70%). In terms of maximum drawdown, XPAY dropped -18.20% vs PDI's -46.47%.

Which has better risk-adjusted returns?

XPAY currently has the higher Sharpe Ratio (2.34 vs 0.25), 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.