PIOBX vs. PMFYX
PIOBX (Pioneer Bond Fund) and PMFYX (Pioneer Multi-Asset Income Fund) are both mutual funds - PIOBX is a Intermediate Core-Plus Bond fund managed by Amundi, while PMFYX is a Global Allocation fund managed by Amundi. Over the past 10 years, PIOBX returned 1.71%/yr vs 8.65%/yr for PMFYX. Their 0.11 correlation means their historical movements had little consistent relationship. PIOBX charges 0.79%/yr vs 0.65%/yr for PMFYX.
Performance
PIOBX vs. PMFYX - Performance Comparison
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Returns By Period
In the year-to-date period, PIOBX achieves a -0.77% return, which is significantly lower than PMFYX's 7.54% return. Over the past 10 years, PIOBX has underperformed PMFYX with an annualized return of 1.71%, while PMFYX has yielded a comparatively higher 8.65% annualized return.
PIOBX
- 1D
- 0.00%
- 1M
- -1.31%
- 6M
- -1.09%
- YTD
- -0.77%
- 1Y
- 2.02%
- 3Y*
- 3.78%
- 5Y*
- -0.65%
- 10Y*
- 1.71%
- ALL TIME*
- 3.88%
PMFYX
- 1D
- 0.07%
- 1M
- 1.42%
- 6M
- 4.85%
- YTD
- 7.54%
- 1Y
- 15.66%
- 3Y*
- 12.66%
- 5Y*
- 9.04%
- 10Y*
- 8.65%
- ALL TIME*
- 8.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
PIOBX Pioneer Bond Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
PIOBX vs. PMFYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIOBX Pioneer Bond Fund | -0.77% | 8.09% | 1.22% | 5.68% | -14.96% | 0.36% | 8.51% | 8.95% | -0.87% | 4.24% |
PMFYX Pioneer Multi-Asset Income Fund | 7.54% | 23.15% | 6.28% | 7.04% | -0.34% | 12.25% | 5.38% | 11.13% | -5.91% | 18.23% |
Correlation
The correlation between PIOBX and PMFYX is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.21 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2011 | 0.11 |
Over the past year, PIOBX and PMFYX have become more correlated (0.34) than their long-term average of 0.11, meaning their price movements have been converging.
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Return for Risk
PIOBX vs. PMFYX — Risk / Return Rank
PIOBX
PMFYX
PIOBX vs. PMFYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer Bond Fund (PIOBX) and Pioneer Multi-Asset Income Fund (PMFYX). 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 | PMFYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.62 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.48 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | 3.74 | -2.67 |
| Martin ratioReturn relative to average drawdown | 2.71 | 13.09 | -10.38 |
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Drawdowns
PIOBX vs. PMFYX - Drawdown Comparison
The maximum PIOBX drawdown since its inception was -21.80%, smaller than the maximum PMFYX drawdown of -24.23%. Use the drawdown chart below to compare losses from any high point for PIOBX and PMFYX.
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Drawdown Indicators
| PIOBX | PMFYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.80% | -24.23% | +2.43% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -4.08% | +1.02% |
Max Drawdown (3Y)Largest decline over 3 years | -6.13% | -7.92% | +1.79% |
Max Drawdown (5Y)Largest decline over 5 years | -19.62% | -13.62% | -6.00% |
Max Drawdown (10Y)Largest decline over 10 years | -19.64% | -24.23% | +4.59% |
Current DrawdownCurrent decline from peak | -3.38% | -0.07% | -3.31% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -2.58% | -0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 1.17% | +0.03% |
Volatility
PIOBX vs. PMFYX - Volatility Comparison
The current volatility for Pioneer Bond Fund (PIOBX) is 1.09%, while Pioneer Multi-Asset Income Fund (PMFYX) has a volatility of 1.91%. This indicates that PIOBX experiences smaller price fluctuations and is considered to be less risky than PMFYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIOBX | PMFYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.91% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 3.18% | 4.91% | -1.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.96% | 5.96% | -2.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.05% | 7.27% | -1.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.96% | 7.54% | -2.58% |
PIOBX vs. PMFYX - Expense Ratio Comparison
PIOBX has a 0.79% expense ratio, which is higher than PMFYX's 0.65% expense ratio.
Dividends
PIOBX vs. PMFYX - Dividend Comparison
PIOBX's dividend yield for the trailing twelve months is around 3.76%, less than PMFYX's 5.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIOBX Pioneer Bond Fund | 3.76% | 3.78% | 3.31% | 2.46% | 1.62% | 5.71% | 4.62% | 3.02% | 3.13% | 3.01% | 2.97% | 3.05% |
PMFYX Pioneer Multi-Asset Income Fund | 5.79% | 6.48% | 5.48% | 4.87% | 5.00% | 5.70% | 5.58% | 6.00% | 6.07% | 6.88% | 5.72% | 6.14% |
Frequently Asked Questions
PIOBX and PMFYX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMFYX has higher volatility (1.91%) compared to PIOBX (1.09%). In terms of maximum drawdown, PIOBX dropped -21.80% vs PMFYX's -24.23%.
PMFYX currently has the higher Sharpe Ratio (2.57 vs 0.83), 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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