PGEKX vs. CBYYX

Last updated Aug 4, 2026

PGEKX (Victory Pioneer Global Equity Fund Class R6) and CBYYX (Victory Pioneer Cat Bond Fund Class Y) are both mutual funds - PGEKX is a Global Equities fund actively managed by Victory, while CBYYX is a Nontraditional Bonds fund actively managed by Victory. Both are actively managed. Over the past year, PGEKX returned 34.73% vs 10.62% for CBYYX. Their 0.00 correlation means their historical movements had little consistent relationship. PGEKX charges 0.73%/yr vs 1.46%/yr for CBYYX.

Performance

PGEKX vs. CBYYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory Pioneer Global Equity Fund Class R6 (PGEKX) and Victory Pioneer Cat Bond Fund Class Y (CBYYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGEKX achieves a 15.04% return, which is significantly higher than CBYYX's 4.28% return.

PGEKX

• 1D: 1.18%
• 1M: 1.10%
• 6M: 9.49%
• YTD: 15.04%
• 1Y: 34.73%
• 3Y*: 23.43%
• 5Y*: 15.59%
• 10Y*: 13.94%
• ALL TIME*: 12.05%

CBYYX

• 1D: 0.09%
• 1M: 0.97%
• 6M: 3.71%
• YTD: 4.28%
• 1Y: 10.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.92%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CBYYX Victory Pioneer Cat Bond Fund Class Y	$0.00	$0.00	$0.00
PGEKX Victory Pioneer Global Equity Fund Class R6	$0.00	$0.00	$0.00

PGEKX vs. CBYYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PGEKX Victory Pioneer Global Equity Fund Class R6	15.04%	41.73%	11.88%	5.15%
CBYYX Victory Pioneer Cat Bond Fund Class Y	4.28%	11.09%	15.69%	3.43%

Correlation

The correlation between PGEKX and CBYYX is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.01
Correlation (All Time) Calculated using the full available price history since Sep 6, 2023	0.00

Return for Risk

PGEKX vs. CBYYX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PGEKX

PGEKX Risk / Return Rank: 88
PGEKX Sharpe Ratio Rank: 91
PGEKX Sortino Ratio Rank: 86
PGEKX Omega Ratio Rank: 84
PGEKX Calmar Ratio Rank: 88
PGEKX Martin Ratio Rank: 90

CBYYX

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PGEKX vs. CBYYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory Pioneer Global Equity Fund Class R6 (PGEKX) and Victory Pioneer Cat Bond Fund Class Y (CBYYX). 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.

	PGEKX	CBYYX	Difference
Sharpe ratio: Return per unit of total volatility	2.33	9.05	-6.72
Sortino ratio: Return per unit of downside risk	3.12	32.86	-29.74
Omega ratio: Gain probability vs. loss probability	1.41	10.47	-9.06
Calmar ratio: Return relative to maximum drawdown	3.35	118.52	-115.18
Martin ratio: Return relative to average drawdown	12.79	450.76	-437.96

PGEKX vs. CBYYX - Sharpe Ratio Comparison

The current PGEKX Sharpe Ratio is 2.33, which is lower than the CBYYX Sharpe Ratio of 9.05. The chart below compares the historical Sharpe Ratios of PGEKX and CBYYX, 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

PGEKX vs. CBYYX - Drawdown Comparison

The maximum PGEKX drawdown since its inception was -33.42%, which is greater than CBYYX's maximum drawdown of -8.72%. Use the drawdown chart below to compare losses from any high point for PGEKX and CBYYX.

Drawdown Indicators

	PGEKX	CBYYX	Difference
Max Drawdown Largest peak-to-trough decline	-33.42%	-8.72%	-24.70%
Max Drawdown (1Y) Largest decline over 1 year	-9.97%	-0.09%	-9.88%
Max Drawdown (3Y) Largest decline over 3 years	-14.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.53%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.42%	—	—
Current Drawdown Current decline from peak	-1.08%	0.00%	-1.08%
Average Drawdown Average peak-to-trough decline	-5.89%	-1.24%	-4.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	0.02%	+2.58%

Volatility

PGEKX vs. CBYYX - Volatility Comparison

Victory Pioneer Global Equity Fund Class R6 (PGEKX) has a higher volatility of 4.26% compared to Victory Pioneer Cat Bond Fund Class Y (CBYYX) at 0.24%. This indicates that PGEKX's price experiences larger fluctuations and is considered to be riskier than CBYYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGEKX	CBYYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	0.24%	+4.02%
Volatility (6M) Calculated over the trailing 6-month period	11.55%	0.64%	+10.91%
Volatility (1Y) Calculated over the trailing 1-year period	14.37%	1.20%	+13.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.68%	7.98%	+7.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.77%	7.98%	+8.79%

PGEKX vs. CBYYX - Expense Ratio Comparison

PGEKX has a 0.73% expense ratio, which is lower than CBYYX's 1.46% expense ratio.

Dividends

PGEKX vs. CBYYX - Dividend Comparison

PGEKX's dividend yield for the trailing twelve months is around 10.26%, more than CBYYX's 8.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBYYX Victory Pioneer Cat Bond Fund Class Y	8.76%	9.14%	10.33%	9.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PGEKX Victory Pioneer Global Equity Fund Class R6	10.26%	11.80%	8.09%	1.91%	6.18%	21.47%	1.26%	1.37%	11.04%	1.83%	1.76%	1.10%

Frequently Asked Questions

Can I hold both PGEKX and CBYYX in my portfolio?

PGEKX and CBYYX have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGEKX or CBYYX?

PGEKX has higher volatility (4.26%) compared to CBYYX (0.24%). In terms of maximum drawdown, PGEKX dropped -33.42% vs CBYYX's -8.72%.

Which has better risk-adjusted returns?

CBYYX currently has the higher Sharpe Ratio (9.05 vs 2.33), 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.