PIGFX vs. USMV
PIGFX (Pioneer Fundamental Growth Fund) and USMV (iShares MSCI USA Min Vol Factor ETF) are both funds - PIGFX is a Large Cap Growth Equities fund managed by Amundi, while USMV is a Large Cap Blend Equities fund tracking the MSCI USA Minimum Volatility Index. Over the past 10 years, PIGFX returned 14.73%/yr vs 9.75%/yr for USMV. A 0.80 correlation means they provide meaningful diversification when combined. PIGFX charges 1.00%/yr vs 0.15%/yr for USMV.
Performance
PIGFX vs. USMV - Performance Comparison
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Returns By Period
In the year-to-date period, PIGFX achieves a 3.98% return, which is significantly higher than USMV's 0.85% return. Over the past 10 years, PIGFX has outperformed USMV with an annualized return of 14.73%, while USMV has yielded a comparatively lower 9.75% annualized return.
PIGFX
- 1D
- 1.15%
- 1M
- 0.47%
- YTD
- 3.98%
- 6M
- 3.60%
- 1Y
- 15.85%
- 3Y*
- 16.40%
- 5Y*
- 10.74%
- 10Y*
- 14.73%
USMV
- 1D
- 0.04%
- 1M
- -2.38%
- YTD
- 0.85%
- 6M
- 0.25%
- 1Y
- 4.28%
- 3Y*
- 10.83%
- 5Y*
- 7.10%
- 10Y*
- 9.75%
PIGFX vs. USMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIGFX Pioneer Fundamental Growth Fund | 3.98% | 14.20% | 17.46% | 32.80% | -20.79% | 23.80% | 27.20% | 33.88% | -0.64% | 22.58% |
USMV iShares MSCI USA Min Vol Factor ETF | 0.85% | 7.65% | 15.74% | 10.33% | -9.43% | 20.85% | 5.64% | 27.69% | 1.33% | 18.91% |
Correlation
The correlation between PIGFX and USMV is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011 | 0.80 |
Over the past year, the correlation between PIGFX and USMV has dropped to 0.50 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.
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Return for Risk
PIGFX vs. USMV — Risk / Return Rank
PIGFX
USMV
PIGFX vs. USMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer Fundamental Growth Fund (PIGFX) and iShares MSCI USA Min Vol Factor ETF (USMV). 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.
| PIGFX | USMV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.09 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 0.67 | +0.41 |
| Martin ratioReturn relative to average drawdown | 3.56 | 2.18 | +1.38 |
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Drawdowns
PIGFX vs. USMV - Drawdown Comparison
The maximum PIGFX drawdown since its inception was -44.04%, which is greater than USMV's maximum drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for PIGFX and USMV.
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Drawdown Indicators
| PIGFX | USMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.04% | -33.10% | -10.94% |
Max Drawdown (1Y)Largest decline over 1 year | -14.32% | -6.46% | -7.86% |
Max Drawdown (3Y)Largest decline over 3 years | -19.99% | -9.36% | -10.63% |
Max Drawdown (5Y)Largest decline over 5 years | -27.12% | -17.93% | -9.19% |
Max Drawdown (10Y)Largest decline over 10 years | -31.47% | -33.10% | +1.63% |
Current DrawdownCurrent decline from peak | -1.24% | -2.91% | +1.67% |
Average DrawdownAverage peak-to-trough decline | -6.37% | -2.87% | -3.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.34% | 1.97% | +2.37% |
Volatility
PIGFX vs. USMV - Volatility Comparison
Pioneer Fundamental Growth Fund (PIGFX) has a higher volatility of 5.38% compared to iShares MSCI USA Min Vol Factor ETF (USMV) at 2.62%. This indicates that PIGFX's price experiences larger fluctuations and is considered to be riskier than USMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIGFX | USMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 2.62% | +2.76% |
Volatility (6M)Calculated over the trailing 6-month period | 11.69% | 6.13% | +5.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.69% | 8.61% | +6.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.81% | 12.36% | +6.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.95% | 14.52% | +4.43% |
PIGFX vs. USMV - Expense Ratio Comparison
PIGFX has a 1.00% expense ratio, which is higher than USMV's 0.15% expense ratio.
Dividends
PIGFX vs. USMV - Dividend Comparison
PIGFX's dividend yield for the trailing twelve months is around 18.45%, more than USMV's 1.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIGFX Pioneer Fundamental Growth Fund | 18.45% | 19.18% | 5.75% | 3.41% | 4.39% | 20.14% | 9.08% | 5.43% | 6.07% | 4.66% | 2.19% | 4.40% |
USMV iShares MSCI USA Min Vol Factor ETF | 1.53% | 1.49% | 1.67% | 1.82% | 1.62% | 1.26% | 1.81% | 1.88% | 2.12% | 1.77% | 2.22% | 2.02% |
Frequently Asked Questions
PIGFX and USMV have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIGFX has higher volatility (5.38%) compared to USMV (2.62%). In terms of maximum drawdown, PIGFX dropped -44.04% vs USMV's -33.10%.
PIGFX currently has the higher Sharpe Ratio (1.05 vs 0.50), 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.
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