HIMYX vs. PMFYX
HIMYX (Pioneer High Income Municipal Fund) and PMFYX (Pioneer Multi-Asset Income Fund) are both mutual funds - HIMYX is a High Yield Muni fund managed by Amundi, while PMFYX is a Global Allocation fund managed by Amundi. Over the past 10 years, HIMYX returned 2.09%/yr vs 8.70%/yr for PMFYX. At a 0.07 correlation, their price movements are largely independent. HIMYX charges 0.55%/yr vs 0.65%/yr for PMFYX.
Performance
HIMYX vs. PMFYX - Performance Comparison
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Returns By Period
In the year-to-date period, HIMYX achieves a 1.62% return, which is significantly lower than PMFYX's 5.80% return. Over the past 10 years, HIMYX has underperformed PMFYX with an annualized return of 2.09%, while PMFYX has yielded a comparatively higher 8.70% annualized return.
HIMYX
- 1D
- 0.00%
- 1M
- 0.29%
- 6M
- 0.90%
- YTD
- 1.62%
- 1Y
- 2.77%
- 3Y*
- 2.97%
- 5Y*
- -0.71%
- 10Y*
- 2.09%
PMFYX
- 1D
- 0.07%
- 1M
- 0.25%
- 6M
- 4.67%
- YTD
- 5.80%
- 1Y
- 12.63%
- 3Y*
- 13.19%
- 5Y*
- 8.62%
- 10Y*
- 8.70%
HIMYX vs. PMFYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HIMYX Pioneer High Income Municipal Fund | 1.62% | -1.50% | 6.07% | 3.64% | -13.08% | 6.69% | 1.85% | 9.56% | 4.15% | 8.33% |
PMFYX Pioneer Multi-Asset Income Fund | 5.80% | 23.15% | 6.28% | 7.04% | -0.34% | 12.25% | 5.38% | 11.13% | -5.91% | 18.23% |
Correlation
The correlation between HIMYX and PMFYX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2011 | 0.07 |
Over the past year, HIMYX and PMFYX have become more correlated (0.29) than their long-term average of 0.07, meaning their price movements have been converging.
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Return for Risk
HIMYX vs. PMFYX — Risk / Return Rank
HIMYX
PMFYX
HIMYX vs. PMFYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer High Income Municipal Fund (HIMYX) and Pioneer Multi-Asset Income Fund (PMFYX). 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.
| HIMYX | PMFYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.67 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.40 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 3.11 | -2.49 |
| Martin ratioReturn relative to average drawdown | 1.63 | 10.73 | -9.10 |
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Drawdowns
HIMYX vs. PMFYX - Drawdown Comparison
The maximum HIMYX drawdown since its inception was -35.00%, which is greater than PMFYX's maximum drawdown of -24.23%. Use the drawdown chart below to compare losses from any high point for HIMYX and PMFYX.
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Drawdown Indicators
| HIMYX | PMFYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.00% | -24.23% | -10.77% |
Max Drawdown (1Y)Largest decline over 1 year | -4.22% | -4.08% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -7.79% | -7.92% | +0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -19.32% | -13.62% | -5.70% |
Max Drawdown (10Y)Largest decline over 10 years | -19.32% | -24.23% | +4.91% |
Current DrawdownCurrent decline from peak | -4.36% | -0.82% | -3.54% |
Average DrawdownAverage peak-to-trough decline | -5.64% | -2.59% | -3.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.18% | +0.45% |
Volatility
HIMYX vs. PMFYX - Volatility Comparison
The current volatility for Pioneer High Income Municipal Fund (HIMYX) is 1.01%, while Pioneer Multi-Asset Income Fund (PMFYX) has a volatility of 1.86%. This indicates that HIMYX experiences smaller price fluctuations and is considered to be less risky than PMFYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIMYX | PMFYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 1.86% | -0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 4.84% | -1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.49% | 5.92% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.68% | 7.30% | -1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.08% | 7.54% | -2.46% |
HIMYX vs. PMFYX - Expense Ratio Comparison
HIMYX has a 0.55% expense ratio, which is lower than PMFYX's 0.65% expense ratio.
Dividends
HIMYX vs. PMFYX - Dividend Comparison
HIMYX's dividend yield for the trailing twelve months is around 8.69%, more than PMFYX's 6.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIMYX Pioneer High Income Municipal Fund | 8.69% | 8.63% | 5.32% | 4.97% | 3.88% | 3.71% | 3.96% | 5.35% | 5.20% | 5.00% | 5.66% | 5.65% |
PMFYX Pioneer Multi-Asset Income Fund | 6.34% | 6.48% | 5.48% | 4.87% | 5.00% | 5.70% | 5.58% | 6.00% | 6.07% | 6.88% | 5.72% | 6.14% |
Frequently Asked Questions
HIMYX and PMFYX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMFYX has higher volatility (1.86%) compared to HIMYX (1.01%). In terms of maximum drawdown, HIMYX dropped -35.00% vs PMFYX's -24.23%.
PMFYX currently has the higher Sharpe Ratio (2.14 vs 0.48), 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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