PIOBX vs. VWILX

Last updated Jun 23, 2026

PIOBX (Pioneer Bond Fund) and VWILX (Vanguard International Growth Fund Admiral Shares) are both mutual funds - PIOBX is a Intermediate Core-Plus Bond fund managed by Amundi, while VWILX is a Foreign Large Cap Equities fund actively managed by Vanguard. Over the past 10 years, PIOBX returned 2.01%/yr vs 10.05%/yr for VWILX. At a correlation of -0.04, they often move in opposite directions. PIOBX charges 0.79%/yr vs 0.32%/yr for VWILX.

Performance

PIOBX vs. VWILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pioneer Bond Fund (PIOBX) and Vanguard International Growth Fund Admiral Shares (VWILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PIOBX achieves a 0.45% return, which is significantly lower than VWILX's 6.00% return. Over the past 10 years, PIOBX has underperformed VWILX with an annualized return of 2.01%, while VWILX has yielded a comparatively higher 10.05% annualized 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%

VWILX

• 1D: 1.53%
• 1M: 2.62%
• YTD: 6.00%
• 6M: 6.57%
• 1Y: 14.74%
• 3Y*: 11.44%
• 5Y*: -1.38%
• 10Y*: 10.05%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PIOBX vs. VWILX - 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%
VWILX Vanguard International Growth Fund Admiral Shares	6.00%	20.08%	9.18%	14.80%	-30.80%	-12.81%	59.77%	31.50%	-12.58%	43.17%

Correlation

The correlation between PIOBX and VWILX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Aug 13, 2001	-0.04

The correlation between PIOBX and VWILX shifts across timeframes, from -0.04 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PIOBX vs. VWILX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PIOBX

PIOBX Risk / Return Rank: 24
PIOBX Sharpe Ratio Rank: 24
PIOBX Sortino Ratio Rank: 26
PIOBX Omega Ratio Rank: 23
PIOBX Calmar Ratio Rank: 24
PIOBX Martin Ratio Rank: 21

VWILX

VWILX Risk / Return Rank: 10
VWILX Sharpe Ratio Rank: 9
VWILX Sortino Ratio Rank: 10
VWILX Omega Ratio Rank: 9
VWILX Calmar Ratio Rank: 11
VWILX Martin Ratio Rank: 12

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PIOBX vs. VWILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pioneer Bond Fund (PIOBX) and Vanguard International Growth Fund Admiral Shares (VWILX). 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	VWILX	Difference
Sharpe ratio: Return per unit of total volatility	1.30	0.73	+0.57
Sortino ratio: Return per unit of downside risk	1.95	1.13	+0.82
Omega ratio: Gain probability vs. loss probability	1.23	1.14	+0.09
Calmar ratio: Return relative to maximum drawdown	1.69	0.98	+0.71
Martin ratio: Return relative to average drawdown	4.97	3.14	+1.83

PIOBX vs. VWILX - Sharpe Ratio Comparison

The current PIOBX Sharpe Ratio is 1.30, which is higher than the VWILX Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of PIOBX and VWILX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PIOBX vs. VWILX - Drawdown Comparison

The maximum PIOBX drawdown since its inception was -21.80%, smaller than the maximum VWILX drawdown of -59.49%. Use the drawdown chart below to compare losses from any high point for PIOBX and VWILX.

Drawdown Indicators

	PIOBX	VWILX	Difference
Max Drawdown Largest peak-to-trough decline	-21.80%	-59.49%	+37.69%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-14.06%	+11.00%
Max Drawdown (3Y) Largest decline over 3 years	-7.11%	-20.02%	+12.91%
Max Drawdown (5Y) Largest decline over 5 years	-19.64%	-53.56%	+33.92%
Max Drawdown (10Y) Largest decline over 10 years	-19.64%	-54.08%	+34.44%
Current Drawdown Current decline from peak	-2.20%	-14.85%	+12.65%
Average Drawdown Average peak-to-trough decline	-3.55%	-15.09%	+11.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	4.39%	-3.35%

Volatility

PIOBX vs. VWILX - Volatility Comparison

The current volatility for Pioneer Bond Fund (PIOBX) is 1.55%, while Vanguard International Growth Fund Admiral Shares (VWILX) has a volatility of 6.73%. This indicates that PIOBX experiences smaller price fluctuations and is considered to be less risky than VWILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PIOBX	VWILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.55%	6.73%	-5.18%
Volatility (6M) Calculated over the trailing 6-month period	3.02%	15.58%	-12.56%
Volatility (1Y) Calculated over the trailing 1-year period	3.96%	18.79%	-14.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.03%	23.56%	-17.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.95%	21.75%	-16.80%

PIOBX vs. VWILX - Expense Ratio Comparison

PIOBX has a 0.79% expense ratio, which is higher than VWILX's 0.32% expense ratio.

Dividends

PIOBX vs. VWILX - Dividend Comparison

PIOBX's dividend yield for the trailing twelve months is around 3.73%, less than VWILX's 6.50% 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%
VWILX Vanguard International Growth Fund Admiral Shares	6.50%	6.89%	9.81%	1.92%	7.03%	0.36%	2.38%	1.30%	5.52%	0.84%	1.42%	1.53%

Frequently Asked Questions

Can I hold both PIOBX and VWILX in my portfolio?

PIOBX and VWILX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PIOBX or VWILX?

VWILX has higher volatility (6.73%) compared to PIOBX (1.55%). In terms of maximum drawdown, PIOBX dropped -21.80% vs VWILX's -59.49%.

Which has better risk-adjusted returns?

PIOBX currently has the higher Sharpe Ratio (1.30 vs 0.73), 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.