PIOBX vs. VGSBX
PIOBX (Pioneer Bond Fund) and VGSBX (VY BrandywineGLOBAL - Bond Portfolio) are both Intermediate Core-Plus Bond funds. Over the past 10 years, PIOBX returned 1.99%/yr vs 2.80%/yr for VGSBX. Their correlation of 0.83 suggests significant overlap in exposure. PIOBX charges 0.79%/yr vs 0.55%/yr for VGSBX.
Performance
PIOBX vs. VGSBX - Performance Comparison
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Returns By Period
In the year-to-date period, PIOBX achieves a 0.21% return, which is significantly lower than VGSBX's 1.06% return. Over the past 10 years, PIOBX has underperformed VGSBX with an annualized return of 1.99%, while VGSBX has yielded a comparatively higher 2.80% annualized return.
PIOBX
- 1D
- 0.12%
- 1M
- 0.70%
- YTD
- 0.21%
- 6M
- 0.42%
- 1Y
- 4.15%
- 3Y*
- 4.06%
- 5Y*
- -0.18%
- 10Y*
- 1.99%
VGSBX
- 1D
- 0.11%
- 1M
- 0.53%
- YTD
- 1.06%
- 6M
- 0.95%
- 1Y
- 4.31%
- 3Y*
- 3.35%
- 5Y*
- 0.11%
- 10Y*
- 2.80%
PIOBX vs. VGSBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIOBX Pioneer Bond Fund | 0.21% | 8.09% | 1.22% | 5.68% | -14.96% | 0.36% | 8.51% | 8.95% | -0.87% | 4.24% |
VGSBX VY BrandywineGLOBAL - Bond Portfolio | 1.06% | 6.12% | 0.68% | 5.65% | -11.86% | 1.15% | 17.48% | 10.01% | -1.55% | 2.93% |
Correlation
The correlation between PIOBX and VGSBX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.83 |
The correlation between PIOBX and VGSBX shifts across timeframes, from 0.75 (1 year) to 0.89 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PIOBX vs. VGSBX — Risk / Return Rank
PIOBX
VGSBX
PIOBX vs. VGSBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer Bond Fund (PIOBX) and VY BrandywineGLOBAL - Bond Portfolio (VGSBX). 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 | VGSBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.25 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 2.87 | -1.38 |
| Martin ratioReturn relative to average drawdown | 4.32 | 9.09 | -4.78 |
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Drawdowns
PIOBX vs. VGSBX - Drawdown Comparison
The maximum PIOBX drawdown since its inception was -21.80%, which is greater than VGSBX's maximum drawdown of -18.20%. Use the drawdown chart below to compare losses from any high point for PIOBX and VGSBX.
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Drawdown Indicators
| PIOBX | VGSBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.80% | -18.20% | -3.60% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -1.79% | -1.27% |
Max Drawdown (3Y)Largest decline over 3 years | -7.11% | -10.28% | +3.17% |
Max Drawdown (5Y)Largest decline over 5 years | -19.64% | -18.20% | -1.44% |
Max Drawdown (10Y)Largest decline over 10 years | -19.64% | -18.20% | -1.44% |
Current DrawdownCurrent decline from peak | -2.43% | -0.10% | -2.33% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -3.43% | -0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.55% | +0.50% |
Volatility
PIOBX vs. VGSBX - Volatility Comparison
Pioneer Bond Fund (PIOBX) has a higher volatility of 1.51% compared to VY BrandywineGLOBAL - Bond Portfolio (VGSBX) at 0.65%. This indicates that PIOBX's price experiences larger fluctuations and is considered to be riskier than VGSBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIOBX | VGSBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 0.65% | +0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 3.04% | 2.71% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 4.61% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 7.94% | -1.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.96% | 6.24% | -1.28% |
PIOBX vs. VGSBX - Expense Ratio Comparison
PIOBX has a 0.79% expense ratio, which is higher than VGSBX's 0.55% expense ratio.
Dividends
PIOBX vs. VGSBX - Dividend Comparison
PIOBX's dividend yield for the trailing twelve months is around 3.74%, less than VGSBX's 3.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIOBX Pioneer Bond Fund | 3.74% | 3.78% | 3.31% | 2.46% | 1.62% | 5.71% | 4.62% | 3.02% | 3.13% | 3.01% | 2.97% | 3.05% |
VGSBX VY BrandywineGLOBAL - Bond Portfolio | 3.89% | 3.93% | 4.56% | 2.18% | 6.85% | 8.48% | 2.48% | 1.89% | 2.29% | 2.31% | 2.34% | 0.00% |
Frequently Asked Questions
PIOBX and VGSBX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIOBX has higher volatility (1.51%) compared to VGSBX (0.65%). In terms of maximum drawdown, PIOBX dropped -21.80% vs VGSBX's -18.20%.
PIOBX currently has the higher Sharpe Ratio (1.14 vs 1.12), 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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