PIAMX vs. VWAHX
Compare and contrast key facts about PIA High Yield (MACS) Fund (PIAMX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX).
PIAMX is managed by PIA Mutual Funds. It was launched on Dec 26, 2017. VWAHX is managed by Vanguard. It was launched on Dec 27, 1978.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PIAMX or VWAHX.
Key characteristics
| PIAMX | VWAHX | |
|---|---|---|
| YTD Return | 10.26% | 3.35% |
| 1Y Return | 15.51% | 11.16% |
| 3Y Return (Ann) | 4.41% | -0.40% |
| 5Y Return (Ann) | 6.49% | 1.57% |
| Sharpe Ratio | 5.61 | 2.63 |
| Sortino Ratio | 9.29 | 4.01 |
| Omega Ratio | 2.55 | 1.64 |
| Calmar Ratio | 8.36 | 0.94 |
| Martin Ratio | 66.41 | 12.94 |
| Ulcer Index | 0.23% | 0.85% |
| Daily Std Dev | 2.77% | 4.20% |
| Max Drawdown | -18.15% | -17.82% |
| Current Drawdown | 0.00% | -1.95% |
Correlation
The correlation between PIAMX and VWAHX is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
PIAMX vs. VWAHX - Performance Comparison
In the year-to-date period, PIAMX achieves a 10.26% return, which is significantly higher than VWAHX's 3.35% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PIAMX vs. VWAHX - Expense Ratio Comparison
PIAMX has a 0.20% expense ratio, which is higher than VWAHX's 0.17% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
PIAMX vs. VWAHX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PIA High Yield (MACS) Fund (PIAMX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX). 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.
Dividends
PIAMX vs. VWAHX - Dividend Comparison
PIAMX's dividend yield for the trailing twelve months is around 8.37%, more than VWAHX's 3.70% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIAMX PIA High Yield (MACS) Fund | 8.37% | 8.12% | 8.72% | 7.03% | 6.63% | 6.74% | 6.66% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 3.70% | 3.53% | 3.37% | 2.86% | 3.09% | 3.36% | 3.79% | 3.69% | 3.75% | 3.69% | 3.78% | 4.12% |
Drawdowns
PIAMX vs. VWAHX - Drawdown Comparison
The maximum PIAMX drawdown since its inception was -18.15%, roughly equal to the maximum VWAHX drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for PIAMX and VWAHX. For additional features, visit the drawdowns tool.
Volatility
PIAMX vs. VWAHX - Volatility Comparison
The current volatility for PIA High Yield (MACS) Fund (PIAMX) is 0.63%, while Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) has a volatility of 2.02%. This indicates that PIAMX experiences smaller price fluctuations and is considered to be less risky than VWAHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.