PHT vs. VEU

Last updated Jun 5, 2026

PHT (Pioneer High Income Fund, Inc.) is a stock, while VEU (Vanguard FTSE All-World ex-US ETF) is Foreign Large Cap Equities fund tracking the FTSE All-World ex US Index. At a 0.40 correlation, their price movements are largely independent.

Performance

PHT vs. VEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pioneer High Income Fund, Inc. (PHT) and Vanguard FTSE All-World ex-US ETF (VEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PHT

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

VEU

• 1D: 0.15%
• 1M: 3.74%
• YTD: 14.77%
• 6M: 17.23%
• 1Y: 31.73%
• 3Y*: 19.86%
• 5Y*: 8.71%
• 10Y*: 9.88%

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

PHT vs. VEU - 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%
VEU Vanguard FTSE All-World ex-US ETF	14.77%	32.35%	5.56%	15.84%	-15.58%	8.27%	11.10%	21.83%	-14.18%	27.40%

Correlation

The correlation between PHT and VEU is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Mar 9, 2007	0.40

Over the past year, the correlation between PHT and VEU has dropped to 0.13 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

Return for Risk

PHT vs. VEU — Risk / Return Rank

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

VEU

VEU Risk / Return Rank: 62
VEU Sharpe Ratio Rank: 64
VEU Sortino Ratio Rank: 63
VEU Omega Ratio Rank: 64
VEU Calmar Ratio Rank: 57
VEU Martin Ratio Rank: 61

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. VEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pioneer High Income Fund, Inc. (PHT) and Vanguard FTSE All-World ex-US ETF (VEU). 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	VEU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.09	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.54	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.25	—

Drawdowns

Drawdown Indicators

	PHT	VEU	Difference
Max Drawdown Largest peak-to-trough decline	—	-61.52%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-11.43%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.31%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.98%	—
Current Drawdown Current decline from peak	—	-0.82%	—
Average Drawdown Average peak-to-trough decline	—	-13.13%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.93%	—

Volatility

Volatility by Period

	PHT	VEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.45%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.04%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	15.28%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	16.06%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	17.20%	—

Dividends

PHT vs. VEU - Dividend Comparison

PHT's dividend yield for the trailing twelve months is around 1.32%, less than VEU's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VEU Vanguard FTSE All-World ex-US ETF	2.60%	3.09%	3.24%	3.32%	3.12%	3.08%	2.00%	3.10%	3.27%	2.66%	2.96%	2.95%

Frequently Asked Questions

Can I hold both PHT and VEU in my portfolio?

PHT and VEU have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.