PIOBX vs. MDVAX
Compare and contrast key facts about Pioneer Bond Fund (PIOBX) and MassMutual Diversified Bond Fund (MDVAX).
PIOBX is managed by Amundi. It was launched on Oct 31, 1978. MDVAX is managed by MassMutual. It was launched on May 3, 1999.
Performance
PIOBX vs. MDVAX - Performance Comparison
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PIOBX vs. MDVAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIOBX Pioneer Bond Fund | -0.32% | 8.09% | 1.22% | 5.68% | -14.96% | 0.36% | 8.51% | 8.95% | -0.87% | 4.24% |
MDVAX MassMutual Diversified Bond Fund | -0.09% | 8.40% | 2.47% | 5.81% | -17.01% | 1.95% | 8.08% | 10.12% | -1.55% | 4.52% |
Returns By Period
In the year-to-date period, PIOBX achieves a -0.32% return, which is significantly lower than MDVAX's -0.09% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: PIOBX at 2.08% and MDVAX at 2.08%.
PIOBX
- 1D
- 0.24%
- 1M
- -1.74%
- YTD
- -0.32%
- 6M
- 0.55%
- 1Y
- 4.23%
- 3Y*
- 3.61%
- 5Y*
- 0.00%
- 10Y*
- 2.08%
MDVAX
- 1D
- 0.36%
- 1M
- -1.52%
- YTD
- -0.09%
- 6M
- 0.64%
- 1Y
- 5.04%
- 3Y*
- 4.73%
- 5Y*
- 0.08%
- 10Y*
- 2.08%
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PIOBX vs. MDVAX - Expense Ratio Comparison
PIOBX has a 0.79% expense ratio, which is lower than MDVAX's 1.07% expense ratio.
Return for Risk
PIOBX vs. MDVAX — Risk / Return Rank
PIOBX
MDVAX
PIOBX vs. MDVAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer Bond Fund (PIOBX) and MassMutual Diversified Bond Fund (MDVAX). 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.
| PIOBX | MDVAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.01 | 1.46 | -0.44 |
Sortino ratioReturn per unit of downside risk | 1.46 | 2.10 | -0.64 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.28 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.68 | 2.05 | -0.37 |
Martin ratioReturn relative to average drawdown | 5.20 | 7.79 | -2.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PIOBX | MDVAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.01 | 1.46 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.00 | 0.01 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.40 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.69 | +0.03 |
Correlation
The correlation between PIOBX and MDVAX is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PIOBX vs. MDVAX - Dividend Comparison
PIOBX's dividend yield for the trailing twelve months is around 3.44%, less than MDVAX's 3.59% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIOBX Pioneer Bond Fund | 3.44% | 3.78% | 3.31% | 2.46% | 1.62% | 5.71% | 4.62% | 3.02% | 3.13% | 3.01% | 2.97% | 3.05% |
MDVAX MassMutual Diversified Bond Fund | 3.59% | 3.91% | 2.45% | 4.87% | 3.76% | 4.06% | 7.20% | 2.90% | 2.86% | 2.64% | 2.11% | 0.53% |
Drawdowns
PIOBX vs. MDVAX - Drawdown Comparison
The maximum PIOBX drawdown since its inception was -21.80%, smaller than the maximum MDVAX drawdown of -23.02%. Use the drawdown chart below to compare losses from any high point for PIOBX and MDVAX.
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Drawdown Indicators
| PIOBX | MDVAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.80% | -23.02% | +1.22% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -3.00% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -19.64% | -23.02% | +3.38% |
Max Drawdown (10Y)Largest decline over 10 years | -19.64% | -23.02% | +3.38% |
Current DrawdownCurrent decline from peak | -2.95% | -5.91% | +2.96% |
Average DrawdownAverage peak-to-trough decline | -3.56% | -3.46% | -0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.79% | +0.17% |
Volatility
PIOBX vs. MDVAX - Volatility Comparison
Pioneer Bond Fund (PIOBX) has a higher volatility of 1.52% compared to MassMutual Diversified Bond Fund (MDVAX) at 1.02%. This indicates that PIOBX's price experiences larger fluctuations and is considered to be riskier than MDVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIOBX | MDVAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 1.02% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 1.99% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.46% | 3.86% | +0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.97% | 6.45% | -0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.91% | 5.26% | -0.35% |