Which disorder is characterized by the presence of both mood and psychotic symptoms?

Schizoaffective disorder is characterized by the presence of both mood symptoms and psychotic symptoms. In this disorder, an individual experiences episodes where they meet the criteria for a mood disorder, such as a major depressive episode or mania, alongside symptoms typical of psychosis, such as hallucinations or delusions. This combination distinctly separates schizoaffective disorder from conditions that involve either mood symptoms or psychotic symptoms alone.

In contrast, while bipolar disorder does involve mood fluctuations (mania and depression), it does not necessarily include the persistent psychotic symptoms that are characteristic of schizoaffective disorder. Major depressive disorder with psychotic features also involves mood disruptions with psychotic symptoms, but this is specifically limited to depressive episodes, not to the broader spectrum of mood states. Paranoid schizophrenia primarily involves persistent psychotic symptoms and does not encompass the significant mood components found in mood disorders. Therefore, schizoaffective disorder is the only option that captures both elements in a cohesive manner.