PHT vs. BND

Last updated Jun 4, 2026

PHT (Pioneer High Income Fund, Inc.) is a stock, while BND (Vanguard Total Bond Market ETF) is Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. At a 0.03 correlation, their price movements are largely independent.

Performance

PHT vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pioneer High Income Fund, Inc. (PHT) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PHT

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BND

• 1D: -0.19%
• 1M: 0.27%
• YTD: 0.27%
• 6M: 0.12%
• 1Y: 5.11%
• 3Y*: 3.96%
• 5Y*: 0.09%
• 10Y*: 1.58%

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

PHT vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PHT Pioneer High Income Fund, Inc.	0.00%	12.78%	18.21%	21.32%	-25.86%	17.70%	3.74%	30.72%	-10.54%	2.93%
BND Vanguard Total Bond Market ETF	0.27%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	-0.12%	3.57%

Correlation

The correlation between PHT and BND is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Apr 11, 2007	0.03

The correlation between PHT and BND shifts across timeframes, from 0.03 (all time) to 0.27 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PHT vs. BND — Risk / Return Rank

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

BND

BND Risk / Return Rank: 37
BND Sharpe Ratio Rank: 37
BND Sortino Ratio Rank: 39
BND Omega Ratio Rank: 35
BND Calmar Ratio Rank: 38
BND Martin Ratio Rank: 36

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.

PHT vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pioneer High Income Fund, Inc. (PHT) and Vanguard Total Bond Market ETF (BND). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	PHT	BND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.36	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.01	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.59	—

Drawdowns

Drawdown Indicators

	PHT	BND	Difference
Max Drawdown Largest peak-to-trough decline	—	-18.58%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-2.68%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-5.92%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.58%	—
Current Drawdown Current decline from peak	—	-2.37%	—
Average Drawdown Average peak-to-trough decline	—	-3.06%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.88%	—

Volatility

Volatility by Period

	PHT	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.23%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.66%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.78%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	6.02%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	5.53%	—

Dividends

PHT vs. BND - Dividend Comparison

PHT's dividend yield for the trailing twelve months is around 1.32%, less than BND's 3.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BND Vanguard Total Bond Market ETF	3.97%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
PHT Pioneer High Income Fund, Inc.	1.32%	4.63%	8.52%	9.37%	11.38%	8.12%	9.25%	8.49%	9.79%	8.03%	9.45%	14.48%

Frequently Asked Questions

Can I hold both PHT and BND in my portfolio?

PHT and BND have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.