PHYSX vs. PHT

Last updated Jun 4, 2026

PHYSX (PIA High Yield Fund) is High Yield Bonds fund managed by PIA Mutual Funds, while PHT (Pioneer High Income Fund, Inc.) is a stock. At a 0.22 correlation, their price movements are largely independent.

Performance

PHYSX vs. PHT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIA High Yield Fund (PHYSX) and Pioneer High Income Fund, Inc. (PHT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PHYSX

• 1D: 0.00%
• 1M: 0.67%
• YTD: 0.61%
• 6M: 1.04%
• 1Y: 3.48%
• 3Y*: 6.95%
• 5Y*: 3.57%
• 10Y*: 5.34%

PHT

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

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

PHYSX vs. PHT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PHYSX PIA High Yield Fund	0.61%	1.82%	10.33%	16.17%	-11.70%	7.36%	8.03%	11.06%	-2.77%	8.04%
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%

Correlation

The correlation between PHYSX and PHT is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Apr 29, 2002	0.22

The correlation between PHYSX and PHT shifts across timeframes, from 0.11 (1 year) to 0.35 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

PHYSX vs. PHT — Risk / Return Rank

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

PHYSX

PHYSX Risk / Return Rank: 14
PHYSX Sharpe Ratio Rank: 17
PHYSX Sortino Ratio Rank: 15
PHYSX Omega Ratio Rank: 19
PHYSX Calmar Ratio Rank: 10
PHYSX Martin Ratio Rank: 10

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.

PHYSX vs. PHT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIA High Yield Fund (PHYSX) and Pioneer High Income Fund, Inc. (PHT). 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.

	PHYSX	PHT	Difference
Sharpe ratio Return per unit of total volatility	1.16	—	—
Sortino ratio Return per unit of downside risk	1.59	—	—
Omega ratio Gain probability vs. loss probability	1.23	—	—
Calmar ratio Return relative to maximum drawdown	0.98	—	—
Martin ratio Return relative to average drawdown	2.89	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PHYSX	PHT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.31	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.63	—	—

Drawdowns

Drawdown Indicators

	PHYSX	PHT	Difference
Max Drawdown Largest peak-to-trough decline	-24.10%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.11%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.99%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.86%	—	—
Current Drawdown Current decline from peak	-0.67%	—	—
Average Drawdown Average peak-to-trough decline	-1.88%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.29%	—	—

Volatility

Volatility by Period

	PHYSX	PHT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.81%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.55%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.23%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.06%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.10%	—	—

Dividends

PHYSX vs. PHT - Dividend Comparison

PHYSX's dividend yield for the trailing twelve months is around 7.41%, more than PHT's 1.32% 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%
PHYSX PIA High Yield Fund	7.41%	8.44%	7.66%	7.12%	7.60%	6.14%	6.31%	6.76%	6.51%	6.37%	6.10%	6.40%

Frequently Asked Questions

Can I hold both PHYSX and PHT in my portfolio?

PHYSX and PHT have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.