FLYRX vs. PIOTX
FLYRX (Pioneer Floating Rate Fund) and PIOTX (Pioneer Core Equity Fund) are both mutual funds - FLYRX is a Bank Loan fund managed by Amundi, while PIOTX is a Large Cap Blend Equities fund managed by Amundi. Over the past 10 years, FLYRX returned 3.97%/yr vs 13.91%/yr for PIOTX. At a 0.14 correlation, their price movements are largely independent. FLYRX charges 0.75%/yr vs 0.88%/yr for PIOTX.
Performance
FLYRX vs. PIOTX - Performance Comparison
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Returns By Period
In the year-to-date period, FLYRX achieves a 1.58% return, which is significantly lower than PIOTX's 9.15% return. Over the past 10 years, FLYRX has underperformed PIOTX with an annualized return of 3.97%, while PIOTX has yielded a comparatively higher 13.91% annualized return.
FLYRX
- 1D
- -0.17%
- 1M
- 0.56%
- YTD
- 1.58%
- 6M
- 2.36%
- 1Y
- 5.00%
- 3Y*
- 5.84%
- 5Y*
- 3.97%
- 10Y*
- 3.97%
PIOTX
- 1D
- 0.45%
- 1M
- 0.34%
- YTD
- 9.15%
- 6M
- 8.35%
- 1Y
- 22.25%
- 3Y*
- 16.37%
- 5Y*
- 9.59%
- 10Y*
- 13.91%
FLYRX vs. PIOTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLYRX Pioneer Floating Rate Fund | 1.58% | 4.90% | 6.94% | 8.31% | -3.26% | 4.32% | 2.10% | 7.57% | 0.17% | 3.74% |
PIOTX Pioneer Core Equity Fund | 9.15% | 16.94% | 14.35% | 18.18% | -17.27% | 25.81% | 20.98% | 31.42% | -8.32% | 24.89% |
Correlation
The correlation between FLYRX and PIOTX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2007 | 0.14 |
The correlation between FLYRX and PIOTX shifts across timeframes, from 0.14 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FLYRX vs. PIOTX — Risk / Return Rank
FLYRX
PIOTX
FLYRX vs. PIOTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer Floating Rate Fund (FLYRX) and Pioneer Core Equity Fund (PIOTX). 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.
| FLYRX | PIOTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.72 | 1.34 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 5.34 | 2.81 | +2.53 |
| Martin ratioReturn relative to average drawdown | 15.76 | 9.29 | +6.47 |
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Drawdowns
FLYRX vs. PIOTX - Drawdown Comparison
The maximum FLYRX drawdown since its inception was -30.67%, smaller than the maximum PIOTX drawdown of -66.24%. Use the drawdown chart below to compare losses from any high point for FLYRX and PIOTX.
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Drawdown Indicators
| FLYRX | PIOTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.67% | -66.24% | +35.57% |
Max Drawdown (1Y)Largest decline over 1 year | -0.94% | -8.35% | +7.41% |
Max Drawdown (3Y)Largest decline over 3 years | -2.05% | -20.40% | +18.35% |
Max Drawdown (5Y)Largest decline over 5 years | -6.61% | -26.49% | +19.88% |
Max Drawdown (10Y)Largest decline over 10 years | -19.05% | -31.79% | +12.74% |
Current DrawdownCurrent decline from peak | -0.17% | -2.28% | +2.11% |
Average DrawdownAverage peak-to-trough decline | -1.98% | -20.12% | +18.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | 2.52% | -2.20% |
Volatility
FLYRX vs. PIOTX - Volatility Comparison
The current volatility for Pioneer Floating Rate Fund (FLYRX) is 0.65%, while Pioneer Core Equity Fund (PIOTX) has a volatility of 4.26%. This indicates that FLYRX experiences smaller price fluctuations and is considered to be less risky than PIOTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLYRX | PIOTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 4.26% | -3.61% |
Volatility (6M)Calculated over the trailing 6-month period | 1.75% | 8.84% | -7.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.48% | 12.29% | -9.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.68% | 16.96% | -14.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.59% | 18.01% | -14.42% |
FLYRX vs. PIOTX - Expense Ratio Comparison
FLYRX has a 0.75% expense ratio, which is lower than PIOTX's 0.88% expense ratio.
Dividends
FLYRX vs. PIOTX - Dividend Comparison
FLYRX's dividend yield for the trailing twelve months is around 7.28%, more than PIOTX's 6.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLYRX Pioneer Floating Rate Fund | 7.28% | 7.48% | 5.87% | 6.45% | 5.40% | 3.46% | 3.91% | 5.01% | 4.70% | 4.13% | 3.88% | 3.85% |
PIOTX Pioneer Core Equity Fund | 6.90% | 7.53% | 5.87% | 2.83% | 7.10% | 20.38% | 8.56% | 3.06% | 19.73% | 9.04% | 1.13% | 0.74% |
Frequently Asked Questions
FLYRX and PIOTX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIOTX has higher volatility (4.26%) compared to FLYRX (0.65%). In terms of maximum drawdown, FLYRX dropped -30.67% vs PIOTX's -66.24%.
FLYRX currently has the higher Sharpe Ratio (2.03 vs 1.91), 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.
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