PIOBX vs. TIBDX
PIOBX (Pioneer Bond Fund) and TIBDX (TIAA-CREF Core Bond Fund) are both Intermediate Core-Plus Bond funds. Over the past 10 years, PIOBX returned 2.01%/yr vs 1.97%/yr for TIBDX. Their correlation of 0.89 suggests significant overlap in exposure. PIOBX charges 0.79%/yr vs 0.29%/yr for TIBDX.
Performance
PIOBX vs. TIBDX - 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 TIBDX's 0.67% return. Both investments have delivered pretty close results over the past 10 years, with PIOBX having a 2.01% annualized return and TIBDX not far behind at 1.97%.
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%
TIBDX
- 1D
- 0.22%
- 1M
- 0.93%
- YTD
- 0.67%
- 6M
- 1.04%
- 1Y
- 5.45%
- 3Y*
- 4.33%
- 5Y*
- 0.10%
- 10Y*
- 1.97%
PIOBX vs. TIBDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIOBX Pioneer Bond Fund | 0.45% | 8.09% | 1.22% | 5.68% | -14.96% | 0.36% | 8.51% | 8.95% | -0.87% | 4.24% |
TIBDX TIAA-CREF Core Bond Fund | 0.67% | 7.38% | 1.95% | 5.63% | -13.68% | -0.95% | 8.10% | 9.57% | -0.64% | 4.48% |
Correlation
The correlation between PIOBX and TIBDX is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 1999 | 0.89 |
The correlation between PIOBX and TIBDX has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.
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Return for Risk
PIOBX vs. TIBDX — Risk / Return Rank
PIOBX
TIBDX
PIOBX vs. TIBDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer Bond Fund (PIOBX) and TIAA-CREF Core Bond Fund (TIBDX). 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 | TIBDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.26 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 1.84 | -0.15 |
| Martin ratioReturn relative to average drawdown | 4.97 | 5.46 | -0.50 |
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Drawdowns
PIOBX vs. TIBDX - Drawdown Comparison
The maximum PIOBX drawdown since its inception was -21.80%, which is greater than TIBDX's maximum drawdown of -18.82%. Use the drawdown chart below to compare losses from any high point for PIOBX and TIBDX.
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Drawdown Indicators
| PIOBX | TIBDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.80% | -18.82% | -2.98% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -2.98% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -7.11% | -6.29% | -0.82% |
Max Drawdown (5Y)Largest decline over 5 years | -19.64% | -18.82% | -0.82% |
Max Drawdown (10Y)Largest decline over 10 years | -19.64% | -18.82% | -0.82% |
Current DrawdownCurrent decline from peak | -2.20% | -1.22% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -2.30% | -1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.00% | +0.04% |
Volatility
PIOBX vs. TIBDX - Volatility Comparison
Pioneer Bond Fund (PIOBX) has a higher volatility of 1.55% compared to TIAA-CREF Core Bond Fund (TIBDX) at 1.15%. This indicates that PIOBX's price experiences larger fluctuations and is considered to be riskier than TIBDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIOBX | TIBDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 1.15% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 2.93% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.96% | 3.86% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 5.64% | +0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.95% | 4.74% | +0.21% |
PIOBX vs. TIBDX - Expense Ratio Comparison
PIOBX has a 0.79% expense ratio, which is higher than TIBDX's 0.29% expense ratio.
Dividends
PIOBX vs. TIBDX - Dividend Comparison
PIOBX's dividend yield for the trailing twelve months is around 3.73%, less than TIBDX's 4.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TIBDX TIAA-CREF Core Bond Fund | 4.45% | 4.34% | 3.60% | 3.22% | 2.44% | 2.39% | 4.45% | 3.09% | 2.88% | 2.93% | 3.80% | 4.68% |
Frequently Asked Questions
With a correlation of 0.93, PIOBX and TIBDX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PIOBX has higher volatility (1.55%) compared to TIBDX (1.15%). In terms of maximum drawdown, PIOBX dropped -21.80% vs TIBDX's -18.82%.
TIBDX currently has the higher Sharpe Ratio (1.42 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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