PIIFX vs. GIOTX
PIIFX (Pioneer International Equity Fund) and GIOTX (GMO International Developed Equity Allocation Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, PIIFX returned 10.84%/yr vs 12.05%/yr for GIOTX. Their correlation of 0.94 suggests significant overlap in exposure. PIIFX charges 1.15%/yr vs 0.00%/yr for GIOTX.
Performance
PIIFX vs. GIOTX - Performance Comparison
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Returns By Period
In the year-to-date period, PIIFX achieves a 9.93% return, which is significantly lower than GIOTX's 18.20% return. Over the past 10 years, PIIFX has underperformed GIOTX with an annualized return of 10.84%, while GIOTX has yielded a comparatively higher 12.05% annualized return.
PIIFX
- 1D
- 0.80%
- 1M
- 0.03%
- 6M
- 5.46%
- YTD
- 9.93%
- 1Y
- 27.49%
- 3Y*
- 19.80%
- 5Y*
- 11.70%
- 10Y*
- 10.84%
GIOTX
- 1D
- 0.72%
- 1M
- -0.14%
- 6M
- 14.30%
- YTD
- 18.20%
- 1Y
- 38.74%
- 3Y*
- 26.68%
- 5Y*
- 14.46%
- 10Y*
- 12.05%
PIIFX vs. GIOTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIIFX Pioneer International Equity Fund | 9.93% | 42.93% | 4.21% | 19.26% | -13.59% | 13.50% | 12.35% | 20.86% | -17.57% | 27.11% |
GIOTX GMO International Developed Equity Allocation Fund | 18.20% | 43.70% | 10.66% | 21.03% | -12.41% | 11.14% | 7.43% | 24.45% | -19.66% | 26.38% |
Correlation
The correlation between PIIFX and GIOTX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007 | 0.94 |
The correlation between PIIFX and GIOTX has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.
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Return for Risk
PIIFX vs. GIOTX — Risk / Return Rank
PIIFX
GIOTX
PIIFX vs. GIOTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer International Equity Fund (PIIFX) and GMO International Developed Equity Allocation Fund (GIOTX). 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.
| PIIFX | GIOTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.43 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 3.54 | -1.49 |
| Martin ratioReturn relative to average drawdown | 7.69 | 13.70 | -6.01 |
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Drawdowns
PIIFX vs. GIOTX - Drawdown Comparison
The maximum PIIFX drawdown since its inception was -62.36%, which is greater than GIOTX's maximum drawdown of -56.51%. Use the drawdown chart below to compare losses from any high point for PIIFX and GIOTX.
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Drawdown Indicators
| PIIFX | GIOTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.36% | -56.51% | -5.85% |
Max Drawdown (1Y)Largest decline over 1 year | -13.03% | -10.66% | -2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -14.98% | -13.40% | -1.58% |
Max Drawdown (5Y)Largest decline over 5 years | -29.27% | -28.34% | -0.93% |
Max Drawdown (10Y)Largest decline over 10 years | -37.30% | -39.29% | +1.99% |
Current DrawdownCurrent decline from peak | -1.20% | -1.16% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -19.46% | -14.17% | -5.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.47% | 2.76% | +0.71% |
Volatility
PIIFX vs. GIOTX - Volatility Comparison
Pioneer International Equity Fund (PIIFX) and GMO International Developed Equity Allocation Fund (GIOTX) have volatilities of 5.39% and 5.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIIFX | GIOTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.39% | 5.59% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 14.45% | 13.20% | +1.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.06% | 16.05% | +1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.46% | 15.51% | +0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.24% | 16.13% | +0.11% |
PIIFX vs. GIOTX - Expense Ratio Comparison
PIIFX has a 1.15% expense ratio, which is higher than GIOTX's 0.00% expense ratio.
Dividends
PIIFX vs. GIOTX - Dividend Comparison
PIIFX's dividend yield for the trailing twelve months is around 3.99%, less than GIOTX's 8.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GIOTX GMO International Developed Equity Allocation Fund | 8.62% | 8.04% | 5.07% | 6.54% | 4.45% | 6.67% | 4.48% | 3.74% | 3.90% | 3.15% | 4.04% | 3.39% |
PIIFX Pioneer International Equity Fund | 3.99% | 4.39% | 1.85% | 1.69% | 3.85% | 13.21% | 0.18% | 2.16% | 6.64% | 1.82% | 0.89% | 1.64% |
Frequently Asked Questions
PIIFX and GIOTX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GIOTX has higher volatility (5.59%) compared to PIIFX (5.39%). In terms of maximum drawdown, PIIFX dropped -62.36% vs GIOTX's -56.51%.
GIOTX currently has the higher Sharpe Ratio (2.35 vs 1.56), 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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