PIOBX vs. NPCT
PIOBX (Pioneer Bond Fund) and NPCT (Nuveen Core Plus Impact Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, PIOBX returned -0.16%/yr vs -2.56%/yr for NPCT. At a 0.48 correlation, their price movements are largely independent. PIOBX charges 0.79%/yr vs 5.08%/yr for NPCT.
Performance
PIOBX vs. NPCT - Performance Comparison
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Returns By Period
In the year-to-date period, PIOBX achieves a 0.45% return, which is significantly lower than NPCT's 2.00% 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%
NPCT
- 1D
- -0.41%
- 1M
- -0.42%
- YTD
- 2.00%
- 6M
- 1.70%
- 1Y
- 1.97%
- 3Y*
- 11.71%
- 5Y*
- -2.56%
- 10Y*
- —
PIOBX vs. NPCT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PIOBX Pioneer Bond Fund | 0.45% | 8.09% | 1.22% | 5.68% | -14.96% | 1.53% |
NPCT Nuveen Core Plus Impact Fund | 2.00% | 9.87% | 17.23% | 7.78% | -37.50% | -4.98% |
Correlation
The correlation between PIOBX and NPCT 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 | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2021 | 0.48 |
The correlation between PIOBX and NPCT has been stable across timeframes, ranging from 0.48 to 0.51 - a consistent structural relationship.
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Return for Risk
PIOBX vs. NPCT — Risk / Return Rank
PIOBX
NPCT
PIOBX vs. NPCT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer Bond Fund (PIOBX) and Nuveen Core Plus Impact Fund (NPCT). 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.
| PIOBX | NPCT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.04 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 0.29 | +1.40 |
| Martin ratioReturn relative to average drawdown | 4.97 | 0.68 | +4.28 |
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Drawdowns
PIOBX vs. NPCT - Drawdown Comparison
The maximum PIOBX drawdown since its inception was -21.80%, smaller than the maximum NPCT drawdown of -46.77%. Use the drawdown chart below to compare losses from any high point for PIOBX and NPCT.
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Drawdown Indicators
| PIOBX | NPCT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.80% | -46.77% | +24.97% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -6.79% | +3.73% |
Max Drawdown (3Y)Largest decline over 3 years | -7.11% | -12.59% | +5.48% |
Max Drawdown (5Y)Largest decline over 5 years | -19.64% | -46.77% | +27.13% |
Max Drawdown (10Y)Largest decline over 10 years | -19.64% | — | — |
Current DrawdownCurrent decline from peak | -2.20% | -17.19% | +14.99% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -25.13% | +21.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 2.89% | -1.85% |
Volatility
PIOBX vs. NPCT - Volatility Comparison
The current volatility for Pioneer Bond Fund (PIOBX) is 1.55%, while Nuveen Core Plus Impact Fund (NPCT) has a volatility of 2.54%. This indicates that PIOBX experiences smaller price fluctuations and is considered to be less risky than NPCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIOBX | NPCT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 2.54% | -0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 7.21% | -4.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.96% | 9.79% | -5.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 13.13% | -7.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.95% | 13.03% | -8.08% |
PIOBX vs. NPCT - Expense Ratio Comparison
PIOBX has a 0.79% expense ratio, which is lower than NPCT's 5.08% expense ratio.
Dividends
PIOBX vs. NPCT - Dividend Comparison
PIOBX's dividend yield for the trailing twelve months is around 3.73%, less than NPCT's 12.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NPCT Nuveen Core Plus Impact Fund | 12.45% | 13.15% | 12.20% | 10.28% | 11.93% | 3.94% | 0.00% | 0.00% | 0.00% | 0.00% | 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 NPCT 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.
NPCT has higher volatility (2.54%) compared to PIOBX (1.55%). In terms of maximum drawdown, PIOBX dropped -21.80% vs NPCT's -46.77%.
PIOBX currently has the higher Sharpe Ratio (1.30 vs 0.20), 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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