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PIOBX vs. HOBIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PIOBX vs. HOBIX

Last updated Jun 23, 2026

PIOBX (Pioneer Bond Fund) and HOBIX (Holbrook Income Fund Class I) are both Intermediate Core-Plus Bond funds. Over the past 5 years, PIOBX returned -0.16%/yr vs 4.26%/yr for HOBIX. At a 0.33 correlation, their price movements are largely independent. PIOBX charges 0.79%/yr vs 1.05%/yr for HOBIX.

Performance

PIOBX vs. HOBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pioneer Bond Fund (PIOBX) and Holbrook Income Fund Class I (HOBIX). 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 0.45% return, which is significantly lower than HOBIX's 2.22% return.

PIOBX

1D
0.60%
1M
0.94%
YTD
0.45%
6M
0.90%
1Y
5.02%
3Y*
4.18%
5Y*
-0.16%
10Y*
2.01%

HOBIX

1D
0.00%
1M
0.38%
YTD
2.22%
6M
3.19%
1Y
6.17%
3Y*
7.21%
5Y*
4.26%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

PIOBX vs. HOBIX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PIOBX
Pioneer Bond Fund		0.45%8.09%1.22%5.68%-14.96%0.36%8.51%8.95%-0.87%4.24%
HOBIX
Holbrook Income Fund Class I		2.22%7.67%7.66%5.65%-2.91%6.13%7.45%7.70%1.74%2.75%

Correlation

The correlation between PIOBX and HOBIX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

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

0.40

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

0.43

Correlation (All Time)
Calculated using the full available price history since Jan 3, 2017

0.33

The correlation between PIOBX and HOBIX shifts across timeframes, from 0.33 (all time) to 0.49 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Pioneer Bond Fund

Holbrook Income Fund Class I

Often compared with PIOBX:
PIOBX vs. FXAIXPIOBX vs. MUNIPIOBX vs. SCHDPIOBX vs. VWILXPIOBX vs. BGHSXPIOBX vs. VBILXPIOBX vs. VFITX
Often compared with HOBIX:
HOBIX vs. AMFIXHOBIX vs. HOBEXHOBIX vs. EINFXHOBIX vs. AAIIXHOBIX vs. MCFIXHOBIX vs. BCPIXHOBIX vs. TGRNX

Return for Risk

PIOBX vs. HOBIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PIOBX
PIOBX Risk / Return Rank: 2424
Overall Rank
PIOBX Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
PIOBX Sortino Ratio Rank: 2626
Sortino Ratio Rank
PIOBX Omega Ratio Rank: 2323
Omega Ratio Rank
PIOBX Calmar Ratio Rank: 2424
Calmar Ratio Rank
PIOBX Martin Ratio Rank: 2121
Martin Ratio Rank
HOBIX
HOBIX Risk / Return Rank: 9898
Overall Rank
HOBIX Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
HOBIX Sortino Ratio Rank: 9999
Sortino Ratio Rank
HOBIX Omega Ratio Rank: 9999
Omega Ratio Rank
HOBIX Calmar Ratio Rank: 9999
Calmar Ratio Rank
HOBIX Martin Ratio Rank: 9999
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. HOBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pioneer Bond Fund (PIOBX) and Holbrook Income Fund Class I (HOBIX). 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.

PIOBXHOBIXDifference
Sharpe ratioReturn per unit of total volatility
1.30
3.08

-1.77

Sortino ratioReturn per unit of downside risk
1.95
9.57

-7.62

Omega ratioGain probability vs. loss probability

1.23

4.27

-3.03

Calmar ratioReturn relative to maximum drawdown

1.69

12.16

-10.47

Martin ratioReturn relative to average drawdown

4.97

41.70

-36.73

PIOBX vs. HOBIX - Sharpe Ratio Comparison

The current PIOBX Sharpe Ratio is 1.30, which is lower than the HOBIX Sharpe Ratio of 3.08. The chart below compares the historical Sharpe Ratios of PIOBX and HOBIX, 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. HOBIX - Drawdown Comparison

The maximum PIOBX drawdown since its inception was -21.80%, smaller than the maximum HOBIX drawdown of -23.52%. Use the drawdown chart below to compare losses from any high point for PIOBX and HOBIX.

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Drawdown Indicators

PIOBXHOBIXDifference

Max Drawdown

Largest peak-to-trough decline

-21.80%

-23.52%

+1.72%

Max Drawdown (1Y)

Largest decline over 1 year

-3.06%

-0.51%

-2.55%

Max Drawdown (3Y)

Largest decline over 3 years

-7.11%

-2.77%

-4.34%

Max Drawdown (5Y)

Largest decline over 5 years

-19.64%

-4.16%

-15.48%

Max Drawdown (10Y)

Largest decline over 10 years

-19.64%

—

—

Current Drawdown

Current decline from peak

-2.20%

-0.20%

-2.00%

Average Drawdown

Average peak-to-trough decline

-3.55%

-0.96%

-2.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.04%

0.15%

+0.89%

Volatility

PIOBX vs. HOBIX - Volatility Comparison

Pioneer Bond Fund (PIOBX) has a higher volatility of 1.55% compared to Holbrook Income Fund Class I (HOBIX) at 0.55%. This indicates that PIOBX's price experiences larger fluctuations and is considered to be riskier than HOBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PIOBXHOBIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.55%

0.55%

+1.00%

Volatility (6M)

Calculated over the trailing 6-month period

3.02%

1.51%

+1.51%

Volatility (1Y)

Calculated over the trailing 1-year period

3.96%

2.02%

+1.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.03%

2.65%

+3.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.95%

5.72%

-0.77%

PIOBX vs. HOBIX - Expense Ratio Comparison

PIOBX has a 0.79% expense ratio, which is lower than HOBIX's 1.05% expense ratio.

Dividends

PIOBX vs. HOBIX - Dividend Comparison

PIOBX's dividend yield for the trailing twelve months is around 3.73%, less than HOBIX's 6.31% yield.

PositionTTM20252024202320222021202020192018201720162015
HOBIX
Holbrook Income Fund Class I		6.31%6.45%7.04%6.35%5.31%3.97%6.30%3.51%4.32%2.12%0.00%0.00%
PIOBX
Pioneer Bond Fund		3.73%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 HOBIX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PIOBX has higher volatility (1.55%) compared to HOBIX (0.55%). In terms of maximum drawdown, PIOBX dropped -21.80% vs HOBIX's -23.52%.

HOBIX currently has the higher Sharpe Ratio (3.08 vs 1.30), 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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