MYFRX vs. BUBSX

Last updated Jun 26, 2026

MYFRX (Pioneer Multi-Asset Ultrashort Income Fund) and BUBSX (Baird Ultra Short Bond Fund) are both Ultrashort Bond funds. Over the past 10 years, MYFRX returned 2.84%/yr vs 2.52%/yr for BUBSX. At a 0.11 correlation, their price movements are largely independent. MYFRX charges 0.44%/yr vs 0.40%/yr for BUBSX.

Performance

MYFRX vs. BUBSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pioneer Multi-Asset Ultrashort Income Fund (MYFRX) and Baird Ultra Short Bond Fund (BUBSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MYFRX achieves a 1.73% return, which is significantly higher than BUBSX's 1.61% return. Over the past 10 years, MYFRX has outperformed BUBSX with an annualized return of 2.84%, while BUBSX has yielded a comparatively lower 2.52% annualized return.

MYFRX

• 1D: 0.10%
• 1M: 0.47%
• YTD: 1.73%
• 6M: 2.04%
• 1Y: 4.36%
• 3Y*: 5.26%
• 5Y*: 3.91%
• 10Y*: 2.84%

BUBSX

• 1D: 0.00%
• 1M: 0.23%
• YTD: 1.61%
• 6M: 1.65%
• 1Y: 3.96%
• 3Y*: 4.92%
• 5Y*: 3.51%
• 10Y*: 2.52%

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

MYFRX vs. BUBSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MYFRX Pioneer Multi-Asset Ultrashort Income Fund	1.73%	4.68%	6.25%	6.32%	0.26%	1.56%	-0.51%	3.34%	1.80%	1.80%
BUBSX Baird Ultra Short Bond Fund	1.61%	4.53%	5.47%	5.43%	0.70%	-0.05%	1.66%	2.87%	1.61%	1.05%

Correlation

The correlation between MYFRX and BUBSX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.11

Return for Risk

MYFRX vs. BUBSX — Risk / Return Rank

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

MYFRX

MYFRX Risk / Return Rank: 99
MYFRX Sharpe Ratio Rank: 96
MYFRX Sortino Ratio Rank: 99
MYFRX Omega Ratio Rank: 99
MYFRX Calmar Ratio Rank: 99
MYFRX Martin Ratio Rank: 99

BUBSX

BUBSX Risk / Return Rank: 100
BUBSX Sharpe Ratio Rank: 100
BUBSX Sortino Ratio Rank: 100
BUBSX Omega Ratio Rank: 100
BUBSX Calmar Ratio Rank: 100
BUBSX Martin Ratio Rank: 100

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.

MYFRX vs. BUBSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pioneer Multi-Asset Ultrashort Income Fund (MYFRX) and Baird Ultra Short Bond Fund (BUBSX). 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.

	MYFRX	BUBSX	Difference
Sharpe ratio: Return per unit of total volatility	3.01	6.13	-3.12
Sortino ratio: Return per unit of downside risk	10.04	17.37	-7.33
Omega ratio: Gain probability vs. loss probability	3.43	7.93	-4.51
Calmar ratio: Return relative to maximum drawdown	14.14	40.33	-26.19
Martin ratio: Return relative to average drawdown	51.56	246.52	-194.96

MYFRX vs. BUBSX - Sharpe Ratio Comparison

The current MYFRX Sharpe Ratio is 3.01, which is lower than the BUBSX Sharpe Ratio of 6.13. The chart below compares the historical Sharpe Ratios of MYFRX and BUBSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MYFRX vs. BUBSX - Drawdown Comparison

The maximum MYFRX drawdown since its inception was -10.08%, which is greater than BUBSX's maximum drawdown of -1.88%. Use the drawdown chart below to compare losses from any high point for MYFRX and BUBSX.

Drawdown Indicators

	MYFRX	BUBSX	Difference
Max Drawdown Largest peak-to-trough decline	-10.08%	-1.88%	-8.20%
Max Drawdown (1Y) Largest decline over 1 year	-0.31%	-0.10%	-0.21%
Max Drawdown (3Y) Largest decline over 3 years	-0.73%	-0.29%	-0.44%
Max Drawdown (5Y) Largest decline over 5 years	-1.52%	-0.79%	-0.73%
Max Drawdown (10Y) Largest decline over 10 years	-10.08%	-1.88%	-8.20%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.26%	-0.07%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.08%	0.02%	+0.06%

Volatility

MYFRX vs. BUBSX - Volatility Comparison

Pioneer Multi-Asset Ultrashort Income Fund (MYFRX) has a higher volatility of 0.43% compared to Baird Ultra Short Bond Fund (BUBSX) at 0.26%. This indicates that MYFRX's price experiences larger fluctuations and is considered to be riskier than BUBSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MYFRX	BUBSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.43%	0.26%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	0.98%	0.47%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	1.46%	0.65%	+0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.61%	0.76%	+0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.84%	0.71%	+1.13%

MYFRX vs. BUBSX - Expense Ratio Comparison

MYFRX has a 0.44% expense ratio, which is higher than BUBSX's 0.40% expense ratio.

Dividends

MYFRX vs. BUBSX - Dividend Comparison

MYFRX's dividend yield for the trailing twelve months is around 4.69%, more than BUBSX's 3.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUBSX Baird Ultra Short Bond Fund	3.69%	4.24%	5.04%	4.39%	1.29%	0.25%	1.14%	2.33%	1.90%	1.04%	0.81%	0.56%
MYFRX Pioneer Multi-Asset Ultrashort Income Fund	4.69%	4.99%	5.63%	4.74%	2.35%	1.34%	1.92%	2.98%	2.60%	1.88%	1.77%	1.36%

Frequently Asked Questions

Can I hold both MYFRX and BUBSX in my portfolio?

MYFRX and BUBSX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MYFRX or BUBSX?

MYFRX has higher volatility (0.43%) compared to BUBSX (0.26%). In terms of maximum drawdown, MYFRX dropped -10.08% vs BUBSX's -1.88%.

Which has better risk-adjusted returns?

BUBSX currently has the higher Sharpe Ratio (6.13 vs 3.01), 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.