GPICX vs. PSHYX

Last updated Jun 3, 2026

GPICX (GuidepathConservative Income Fund) and PSHYX (Pioneer Short Term Income Fund) are both Short-Term Bond funds. Over the past 5 years, GPICX returned 2.40%/yr vs 2.56%/yr for PSHYX. At a 0.33 correlation, their price movements are largely independent. GPICX charges 0.75%/yr vs 0.46%/yr for PSHYX.

Performance

GPICX vs. PSHYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GuidepathConservative Income Fund (GPICX) and Pioneer Short Term Income Fund (PSHYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPICX achieves a 0.99% return, which is significantly higher than PSHYX's 0.89% return.

GPICX

• 1D: 0.00%
• 1M: 0.14%
• YTD: 0.99%
• 6M: 1.39%
• 1Y: 3.43%
• 3Y*: 4.09%
• 5Y*: 2.40%
• 10Y*: —

PSHYX

• 1D: 0.00%
• 1M: 0.18%
• YTD: 0.89%
• 6M: 1.21%
• 1Y: 3.39%
• 3Y*: 4.60%
• 5Y*: 2.56%
• 10Y*: 2.56%

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

GPICX vs. PSHYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GPICX GuidepathConservative Income Fund	0.99%	3.49%	4.73%	4.87%	-1.67%	0.08%	-0.23%	2.30%	0.80%
PSHYX Pioneer Short Term Income Fund	0.89%	4.96%	4.93%	5.64%	-3.42%	1.83%	1.79%	4.74%	1.53%

Correlation

The correlation between GPICX and PSHYX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jun 21, 2018	0.33

Return for Risk

GPICX vs. PSHYX — Risk / Return Rank

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

GPICX

GPICX Risk / Return Rank: 99
GPICX Sharpe Ratio Rank: 99
GPICX Sortino Ratio Rank: 99
GPICX Omega Ratio Rank: 99
GPICX Calmar Ratio Rank: 99
GPICX Martin Ratio Rank: 99

PSHYX

PSHYX Risk / Return Rank: 56
PSHYX Sharpe Ratio Rank: 34
PSHYX Sortino Ratio Rank: 58
PSHYX Omega Ratio Rank: 59
PSHYX Calmar Ratio Rank: 77
PSHYX Martin Ratio Rank: 53

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.

GPICX vs. PSHYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GuidepathConservative Income Fund (GPICX) and Pioneer Short Term Income Fund (PSHYX). 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.

	GPICX	PSHYX	Difference
Sharpe ratio Return per unit of total volatility	4.17	1.69	+2.48
Sortino ratio Return per unit of downside risk	7.91	3.22	+4.69
Omega ratio Gain probability vs. loss probability	2.84	1.43	+1.41
Calmar ratio Return relative to maximum drawdown	13.82	3.49	+10.33
Martin ratio Return relative to average drawdown	69.35	10.87	+58.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GPICX vs. PSHYX - Sharpe Ratio Comparison

The current GPICX Sharpe Ratio is 4.17, which is higher than the PSHYX Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of GPICX and PSHYX, 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

	GPICX	PSHYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.17	1.69	+2.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.19	1.14	+1.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.80	1.33	+0.47

Drawdowns

GPICX vs. PSHYX - Drawdown Comparison

The maximum GPICX drawdown since its inception was -3.10%, smaller than the maximum PSHYX drawdown of -12.98%. Use the drawdown chart below to compare losses from any high point for GPICX and PSHYX.

Drawdown Indicators

	GPICX	PSHYX	Difference
Max Drawdown Largest peak-to-trough decline	-3.10%	-12.98%	+9.88%
Max Drawdown (1Y) Largest decline over 1 year	-0.25%	-1.13%	+0.88%
Max Drawdown (3Y) Largest decline over 3 years	-0.52%	-1.13%	+0.61%
Max Drawdown (5Y) Largest decline over 5 years	-2.79%	-5.88%	+3.09%
Max Drawdown (10Y) Largest decline over 10 years	—	-12.98%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.56%	-0.63%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.05%	0.36%	-0.31%

Volatility

GPICX vs. PSHYX - Volatility Comparison

The current volatility for GuidepathConservative Income Fund (GPICX) is 0.27%, while Pioneer Short Term Income Fund (PSHYX) has a volatility of 0.56%. This indicates that GPICX experiences smaller price fluctuations and is considered to be less risky than PSHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPICX	PSHYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.27%	0.56%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	0.62%	1.47%	-0.85%
Volatility (1Y) Calculated over the trailing 1-year period	0.83%	2.01%	-1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.10%	2.26%	-1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.06%	2.49%	-1.43%

GPICX vs. PSHYX - Expense Ratio Comparison

GPICX has a 0.75% expense ratio, which is higher than PSHYX's 0.46% expense ratio.

Dividends

GPICX vs. PSHYX - Dividend Comparison

GPICX's dividend yield for the trailing twelve months is around 3.80%, less than PSHYX's 5.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPICX GuidepathConservative Income Fund	3.80%	3.86%	4.53%	4.23%	1.51%	0.48%	0.57%	1.67%	1.30%	0.00%	0.00%	0.00%
PSHYX Pioneer Short Term Income Fund	5.08%	5.20%	4.23%	3.96%	3.46%	2.47%	2.77%	3.35%	2.71%	2.24%	2.04%	1.85%

Frequently Asked Questions

Can I hold both GPICX and PSHYX in my portfolio?

GPICX and PSHYX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GPICX or PSHYX?

PSHYX has higher volatility (0.56%) compared to GPICX (0.27%). In terms of maximum drawdown, GPICX dropped -3.10% vs PSHYX's -12.98%.

Which has better risk-adjusted returns?

GPICX currently has the higher Sharpe Ratio (4.17 vs 1.69), 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.