PGOFX vs. PIOTX

Last updated Jun 26, 2026

PGOFX (Pioneer Select Mid Cap Growth Fund) and PIOTX (Pioneer Core Equity Fund) are both mutual funds - PGOFX is a Mid Cap Growth Equities fund managed by Amundi, while PIOTX is a Large Cap Blend Equities fund managed by Amundi. Over the past 10 years, PGOFX returned 14.44%/yr vs 13.89%/yr for PIOTX. A 0.79 correlation means they provide meaningful diversification when combined. PGOFX charges 0.99%/yr vs 0.88%/yr for PIOTX.

Performance

PGOFX vs. PIOTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pioneer Select Mid Cap Growth Fund (PGOFX) and Pioneer Core Equity Fund (PIOTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGOFX achieves a 22.11% return, which is significantly higher than PIOTX's 8.95% return. Both investments have delivered pretty close results over the past 10 years, with PGOFX having a 14.44% annualized return and PIOTX not far behind at 13.89%.

PGOFX

• 1D: 0.14%
• 1M: 2.67%
• YTD: 22.11%
• 6M: 19.36%
• 1Y: 33.10%
• 3Y*: 25.38%
• 5Y*: 7.92%
• 10Y*: 14.44%

PIOTX

• 1D: 0.00%
• 1M: -0.11%
• YTD: 8.95%
• 6M: 7.71%
• 1Y: 20.53%
• 3Y*: 16.30%
• 5Y*: 9.28%
• 10Y*: 13.89%

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

PGOFX vs. PIOTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGOFX Pioneer Select Mid Cap Growth Fund	22.11%	20.66%	23.84%	18.66%	-31.26%	8.06%	38.86%	32.73%	-5.77%	29.88%
PIOTX Pioneer Core Equity Fund	8.95%	16.94%	14.35%	18.18%	-17.27%	25.81%	20.98%	31.42%	-8.32%	24.89%

Correlation

The correlation between PGOFX and PIOTX is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since May 31, 1996	0.79

The correlation between PGOFX and PIOTX shifts across timeframes, from 0.72 (1 year) to 0.84 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PGOFX vs. PIOTX — Risk / Return Rank

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

PGOFX

PGOFX Risk / Return Rank: 54
PGOFX Sharpe Ratio Rank: 42
PGOFX Sortino Ratio Rank: 38
PGOFX Omega Ratio Rank: 36
PGOFX Calmar Ratio Rank: 79
PGOFX Martin Ratio Rank: 77

PIOTX

PIOTX Risk / Return Rank: 46
PIOTX Sharpe Ratio Rank: 47
PIOTX Sortino Ratio Rank: 43
PIOTX Omega Ratio Rank: 44
PIOTX Calmar Ratio Rank: 54
PIOTX Martin Ratio Rank: 44

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.

PGOFX vs. PIOTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pioneer Select Mid Cap Growth Fund (PGOFX) 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.

	PGOFX	PIOTX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.68	-0.11
Sortino ratio: Return per unit of downside risk	2.15	2.30	-0.15
Omega ratio: Gain probability vs. loss probability	1.27	1.30	-0.04
Calmar ratio: Return relative to maximum drawdown	3.11	2.45	+0.66
Martin ratio: Return relative to average drawdown	11.98	8.07	+3.90

PGOFX vs. PIOTX - Sharpe Ratio Comparison

The current PGOFX Sharpe Ratio is 1.57, which is comparable to the PIOTX Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of PGOFX and PIOTX, 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

PGOFX vs. PIOTX - Drawdown Comparison

The maximum PGOFX drawdown since its inception was -62.17%, smaller than the maximum PIOTX drawdown of -66.24%. Use the drawdown chart below to compare losses from any high point for PGOFX and PIOTX.

Drawdown Indicators

	PGOFX	PIOTX	Difference
Max Drawdown Largest peak-to-trough decline	-62.17%	-66.24%	+4.07%
Max Drawdown (1Y) Largest decline over 1 year	-10.45%	-8.35%	-2.10%
Max Drawdown (3Y) Largest decline over 3 years	-28.15%	-20.40%	-7.75%
Max Drawdown (5Y) Largest decline over 5 years	-39.78%	-26.49%	-13.29%
Max Drawdown (10Y) Largest decline over 10 years	-39.78%	-31.79%	-7.99%
Current Drawdown Current decline from peak	-2.71%	-2.46%	-0.25%
Average Drawdown Average peak-to-trough decline	-11.69%	-20.12%	+8.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	2.53%	+0.18%

Volatility

PGOFX vs. PIOTX - Volatility Comparison

Pioneer Select Mid Cap Growth Fund (PGOFX) has a higher volatility of 8.45% compared to Pioneer Core Equity Fund (PIOTX) at 4.01%. This indicates that PGOFX's price experiences larger fluctuations and is considered to be riskier than PIOTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGOFX	PIOTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.45%	4.01%	+4.44%
Volatility (6M) Calculated over the trailing 6-month period	16.29%	8.84%	+7.45%
Volatility (1Y) Calculated over the trailing 1-year period	20.78%	12.24%	+8.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.77%	16.96%	+6.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.14%	17.97%	+5.17%

PGOFX vs. PIOTX - Expense Ratio Comparison

PGOFX has a 0.99% expense ratio, which is higher than PIOTX's 0.88% expense ratio.

Dividends

PGOFX vs. PIOTX - Dividend Comparison

PGOFX's dividend yield for the trailing twelve months is around 13.60%, more than PIOTX's 6.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PGOFX Pioneer Select Mid Cap Growth Fund	13.60%	16.61%	12.14%	0.00%	1.84%	11.47%	13.77%	1.37%	16.05%	8.32%	1.69%	8.90%
PIOTX Pioneer Core Equity Fund	6.91%	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

Can I hold both PGOFX and PIOTX in my portfolio?

PGOFX and PIOTX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGOFX or PIOTX?

PGOFX has higher volatility (8.45%) compared to PIOTX (4.01%). In terms of maximum drawdown, PGOFX dropped -62.17% vs PIOTX's -66.24%.

Which has better risk-adjusted returns?

PIOTX currently has the higher Sharpe Ratio (1.68 vs 1.57), 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.