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PIOBX vs. AMFIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PIOBX vs. AMFIX

Last updated Jun 25, 2026

PIOBX (Pioneer Bond Fund) and AMFIX (AAMA Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, PIOBX returned -0.18%/yr vs 0.77%/yr for AMFIX. A 0.77 correlation means they provide meaningful diversification when combined. PIOBX charges 0.79%/yr vs 0.92%/yr for AMFIX.

Performance

PIOBX vs. AMFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pioneer Bond Fund (PIOBX) and AAMA Income Fund (AMFIX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PIOBX achieves a 0.21% return, which is significantly lower than AMFIX's 0.26% return.

PIOBX

1D
0.12%
1M
0.70%
YTD
0.21%
6M
0.42%
1Y
4.15%
3Y*
4.06%
5Y*
-0.18%
10Y*
1.99%

AMFIX

1D
0.08%
1M
0.17%
YTD
0.26%
6M
0.32%
1Y
2.19%
3Y*
3.29%
5Y*
0.77%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

PIOBX vs. AMFIX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PIOBX
Pioneer Bond Fund		0.21%8.09%1.22%5.68%-14.96%0.36%8.51%8.95%-0.87%0.99%
AMFIX
AAMA Income Fund		0.26%3.74%3.48%3.84%-6.26%-1.37%2.24%2.47%0.89%-0.44%

Correlation

The correlation between PIOBX and AMFIX is 0.81, 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

0.81

Correlation (3Y)
Calculated over the trailing 3-year period

0.84

Correlation (5Y)
Calculated over the trailing 5-year period

0.85

Correlation (All Time)
Calculated using the full available price history since Aug 30, 2017

0.77

The correlation between PIOBX and AMFIX has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Pioneer Bond Fund

AAMA Income Fund

Often compared with PIOBX:
PIOBX vs. FXAIXPIOBX vs. MUNIPIOBX vs. SCHDPIOBX vs. VWILXPIOBX vs. BGHSXPIOBX vs. VBILXPIOBX vs. VFITX
Often compared with AMFIX:
AMFIX vs. HOBIXAMFIX vs. ARINXAMFIX vs. EINFXAMFIX vs. AAIIXAMFIX vs. BCPIXAMFIX vs. GUGAXAMFIX vs. MCFIX

Return for Risk

PIOBX vs. AMFIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PIOBX
PIOBX Risk / Return Rank: 2121
Overall Rank
PIOBX Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
PIOBX Sortino Ratio Rank: 2222
Sortino Ratio Rank
PIOBX Omega Ratio Rank: 2020
Omega Ratio Rank
PIOBX Calmar Ratio Rank: 2121
Calmar Ratio Rank
PIOBX Martin Ratio Rank: 1919
Martin Ratio Rank
AMFIX
AMFIX Risk / Return Rank: 6060
Overall Rank
AMFIX Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
AMFIX Sortino Ratio Rank: 6464
Sortino Ratio Rank
AMFIX Omega Ratio Rank: 6666
Omega Ratio Rank
AMFIX Calmar Ratio Rank: 6969
Calmar Ratio Rank
AMFIX Martin Ratio Rank: 4747
Martin Ratio Rank
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.

PIOBX vs. AMFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pioneer Bond Fund (PIOBX) and AAMA Income Fund (AMFIX). 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.

PIOBXAMFIXDifference
Sharpe ratioReturn per unit of total volatility
1.14
1.97

-0.83

Sortino ratioReturn per unit of downside risk
1.71
2.96

-1.26

Omega ratioGain probability vs. loss probability

1.20

1.40

-0.20

Calmar ratioReturn relative to maximum drawdown

1.49

2.97

-1.49

Martin ratioReturn relative to average drawdown

4.32

9.04

-4.72

PIOBX vs. AMFIX - Sharpe Ratio Comparison

The current PIOBX Sharpe Ratio is 1.14, which is lower than the AMFIX Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of PIOBX and AMFIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PIOBX vs. AMFIX - Drawdown Comparison

The maximum PIOBX drawdown since its inception was -21.80%, which is greater than AMFIX's maximum drawdown of -9.35%. Use the drawdown chart below to compare losses from any high point for PIOBX and AMFIX.

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Drawdown Indicators

PIOBXAMFIXDifference

Max Drawdown

Largest peak-to-trough decline

-21.80%

-9.35%

-12.45%

Max Drawdown (1Y)

Largest decline over 1 year

-3.06%

-0.74%

-2.32%

Max Drawdown (3Y)

Largest decline over 3 years

-7.11%

-0.88%

-6.23%

Max Drawdown (5Y)

Largest decline over 5 years

-19.64%

-8.91%

-10.73%

Max Drawdown (10Y)

Largest decline over 10 years

-19.64%

—

—

Current Drawdown

Current decline from peak

-2.43%

-0.44%

-1.99%

Average Drawdown

Average peak-to-trough decline

-3.55%

-2.01%

-1.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.05%

0.24%

+0.81%

Volatility

PIOBX vs. AMFIX - Volatility Comparison

Pioneer Bond Fund (PIOBX) has a higher volatility of 1.51% compared to AAMA Income Fund (AMFIX) at 0.46%. This indicates that PIOBX's price experiences larger fluctuations and is considered to be riskier than AMFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PIOBXAMFIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.51%

0.46%

+1.05%

Volatility (6M)

Calculated over the trailing 6-month period

3.04%

0.92%

+2.12%

Volatility (1Y)

Calculated over the trailing 1-year period

3.98%

1.12%

+2.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.03%

2.18%

+3.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.96%

1.74%

+3.22%

PIOBX vs. AMFIX - Expense Ratio Comparison

PIOBX has a 0.79% expense ratio, which is lower than AMFIX's 0.92% expense ratio.

Dividends

PIOBX vs. AMFIX - Dividend Comparison

PIOBX's dividend yield for the trailing twelve months is around 3.74%, more than AMFIX's 2.21% yield.

PositionTTM20252024202320222021202020192018201720162015
AMFIX
AAMA Income Fund		2.21%2.08%2.44%1.70%0.83%0.57%0.83%1.24%1.24%0.40%0.00%0.00%
PIOBX
Pioneer Bond Fund		3.74%3.78%3.31%2.46%1.62%5.71%4.62%3.02%3.13%3.01%2.97%3.05%

Frequently Asked Questions

PIOBX and AMFIX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PIOBX has higher volatility (1.51%) compared to AMFIX (0.46%). In terms of maximum drawdown, PIOBX dropped -21.80% vs AMFIX's -9.35%.

AMFIX currently has the higher Sharpe Ratio (1.97 vs 1.14), 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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