BGHSX vs. PIOBX

Last updated Apr 2, 2026

Compare and contrast key facts about BrandywineGLOBAL - High Yield Fund (BGHSX) and Pioneer Bond Fund (PIOBX).

BGHSX is managed by Franklin Templeton. It was launched on Dec 3, 2014. PIOBX is managed by Amundi. It was launched on Oct 31, 1978.

Performance

BGHSX vs. PIOBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BrandywineGLOBAL - High Yield Fund (BGHSX) and Pioneer Bond Fund (PIOBX). The values are adjusted to include any dividend payments, if applicable.

BGHSX vs. PIOBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BGHSX BrandywineGLOBAL - High Yield Fund	-1.56%	5.55%	9.90%	13.21%	-10.23%	1.12%
PIOBX Pioneer Bond Fund	-0.32%	8.09%	1.22%	5.68%	-14.96%	-0.88%

Returns By Period

In the year-to-date period, BGHSX achieves a -1.56% return, which is significantly lower than PIOBX's -0.32% return.

BGHSX

• 1D: 0.41%
• 1M: -1.20%
• YTD: -1.56%
• 6M: -0.96%
• 1Y: 3.40%
• 3Y*: 7.83%
• 5Y*: —
• 10Y*: —

PIOBX

• 1D: 0.24%
• 1M: -1.74%
• YTD: -0.32%
• 6M: 0.55%
• 1Y: 4.23%
• 3Y*: 3.61%
• 5Y*: 0.00%
• 10Y*: 2.08%

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

BGHSX vs. PIOBX - Expense Ratio Comparison

BGHSX has a 0.54% expense ratio, which is lower than PIOBX's 0.79% expense ratio.

PIOBX

Pioneer Bond Fund

BGHSX

BrandywineGLOBAL - High Yield Fund

Return for Risk

BGHSX vs. PIOBX — Risk / Return Rank

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

BGHSX

BGHSX Risk / Return Rank: 40
BGHSX Sharpe Ratio Rank: 41
BGHSX Sortino Ratio Rank: 38
BGHSX Omega Ratio Rank: 44
BGHSX Calmar Ratio Rank: 39
BGHSX Martin Ratio Rank: 37

PIOBX

PIOBX Risk / Return Rank: 49
PIOBX Sharpe Ratio Rank: 48
PIOBX Sortino Ratio Rank: 47
PIOBX Omega Ratio Rank: 35
PIOBX Calmar Ratio Rank: 66
PIOBX Martin Ratio Rank: 47

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.

BGHSX vs. PIOBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BrandywineGLOBAL - High Yield Fund (BGHSX) and Pioneer Bond Fund (PIOBX). 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.

	BGHSX	PIOBX	Difference
Sharpe ratio Return per unit of total volatility	0.91	1.01	-0.11
Sortino ratio Return per unit of downside risk	1.29	1.46	-0.16
Omega ratio Gain probability vs. loss probability	1.20	1.18	+0.02
Calmar ratio Return relative to maximum drawdown	1.11	1.68	-0.57
Martin ratio Return relative to average drawdown	4.19	5.20	-1.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BGHSX vs. PIOBX - Sharpe Ratio Comparison

The current BGHSX Sharpe Ratio is 0.91, which is comparable to the PIOBX Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of BGHSX and PIOBX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BGHSX	PIOBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	1.01	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.00	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.72	+0.06

Correlation

The correlation between BGHSX and PIOBX is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BGHSX vs. PIOBX - Dividend Comparison

BGHSX's dividend yield for the trailing twelve months is around 6.48%, more than PIOBX's 3.44% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGHSX BrandywineGLOBAL - High Yield Fund	6.48%	7.08%	7.49%	5.23%	5.32%	4.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PIOBX Pioneer Bond Fund	3.44%	3.78%	3.31%	2.46%	1.62%	5.71%	4.62%	3.02%	3.13%	3.01%	2.97%	3.05%

Drawdowns

BGHSX vs. PIOBX - Drawdown Comparison

The maximum BGHSX drawdown since its inception was -14.30%, smaller than the maximum PIOBX drawdown of -21.80%. Use the drawdown chart below to compare losses from any high point for BGHSX and PIOBX.

Drawdown Indicators

	BGHSX	PIOBX	Difference
Max Drawdown Largest peak-to-trough decline	-14.30%	-21.80%	+7.50%
Max Drawdown (1Y) Largest decline over 1 year	-3.43%	-2.96%	-0.47%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.64%	—
Current Drawdown Current decline from peak	-1.60%	-2.95%	+1.35%
Average Drawdown Average peak-to-trough decline	-3.33%	-3.56%	+0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	0.96%	-0.05%

Volatility

BGHSX vs. PIOBX - Volatility Comparison

The current volatility for BrandywineGLOBAL - High Yield Fund (BGHSX) is 1.17%, while Pioneer Bond Fund (PIOBX) has a volatility of 1.52%. This indicates that BGHSX experiences smaller price fluctuations and is considered to be less risky than PIOBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGHSX	PIOBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.17%	1.52%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	2.16%	2.47%	-0.31%
Volatility (1Y) Calculated over the trailing 1-year period	3.89%	4.46%	-0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.50%	5.97%	-1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.50%	4.91%	-0.41%