PSHYX vs. SYFFX
PSHYX (Pioneer Short Term Income Fund) and SYFFX (Pioneer Securitized Income Fund) are both mutual funds - PSHYX is a Short-Term Bond fund managed by Amundi, while SYFFX is a Nontraditional Bonds fund managed by Amundi. Over the past 5 years, PSHYX returned 2.53%/yr vs 5.29%/yr for SYFFX. A 0.64 correlation means they provide meaningful diversification when combined. PSHYX charges 0.46%/yr vs 0.65%/yr for SYFFX.
Performance
PSHYX vs. SYFFX - Performance Comparison
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Returns By Period
In the year-to-date period, PSHYX achieves a 0.55% return, which is significantly lower than SYFFX's 1.72% return.
PSHYX
- 1D
- -0.11%
- 1M
- 0.18%
- YTD
- 0.55%
- 6M
- 0.98%
- 1Y
- 2.91%
- 3Y*
- 4.56%
- 5Y*
- 2.53%
- 10Y*
- 2.52%
SYFFX
- 1D
- -0.11%
- 1M
- 0.41%
- YTD
- 1.72%
- 6M
- 2.37%
- 1Y
- 5.05%
- 3Y*
- 8.49%
- 5Y*
- 5.29%
- 10Y*
- —
PSHYX vs. SYFFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PSHYX Pioneer Short Term Income Fund | 0.55% | 4.96% | 4.93% | 5.64% | -3.42% | 1.83% | 1.79% | 0.28% |
SYFFX Pioneer Securitized Income Fund | 1.72% | 6.83% | 9.33% | 13.51% | -5.15% | 5.45% | -3.68% | 0.50% |
Correlation
The correlation between PSHYX and SYFFX is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Dec 9, 2019 | 0.64 |
The correlation between PSHYX and SYFFX shifts across timeframes, from 0.64 (all time) to 0.74 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PSHYX vs. SYFFX — Risk / Return Rank
PSHYX
SYFFX
PSHYX vs. SYFFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer Short Term Income Fund (PSHYX) and Pioneer Securitized Income Fund (SYFFX). 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.
| PSHYX | SYFFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.58 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.69 | 3.27 | -0.58 |
| Martin ratioReturn relative to average drawdown | 8.34 | 8.80 | -0.46 |
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Drawdowns
PSHYX vs. SYFFX - Drawdown Comparison
The maximum PSHYX drawdown since its inception was -12.98%, smaller than the maximum SYFFX drawdown of -38.78%. Use the drawdown chart below to compare losses from any high point for PSHYX and SYFFX.
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Drawdown Indicators
| PSHYX | SYFFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.98% | -38.78% | +25.80% |
Max Drawdown (1Y)Largest decline over 1 year | -1.13% | -1.55% | +0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -1.13% | -1.55% | +0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -5.88% | -6.11% | +0.23% |
Max Drawdown (10Y)Largest decline over 10 years | -12.98% | — | — |
Current DrawdownCurrent decline from peak | -0.34% | -0.32% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.63% | -3.88% | +3.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 0.58% | -0.22% |
Volatility
PSHYX vs. SYFFX - Volatility Comparison
The current volatility for Pioneer Short Term Income Fund (PSHYX) is 0.64%, while Pioneer Securitized Income Fund (SYFFX) has a volatility of 0.72%. This indicates that PSHYX experiences smaller price fluctuations and is considered to be less risky than SYFFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSHYX | SYFFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 0.72% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 1.43% | 1.67% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.02% | 2.53% | -0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.26% | 3.04% | -0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.49% | 8.75% | -6.26% |
PSHYX vs. SYFFX - Expense Ratio Comparison
PSHYX has a 0.46% expense ratio, which is lower than SYFFX's 0.65% expense ratio.
Dividends
PSHYX vs. SYFFX - Dividend Comparison
PSHYX's dividend yield for the trailing twelve months is around 5.10%, less than SYFFX's 6.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSHYX Pioneer Short Term Income Fund | 5.10% | 5.20% | 4.23% | 3.96% | 3.46% | 2.47% | 2.77% | 3.35% | 2.71% | 2.24% | 2.04% | 1.85% |
SYFFX Pioneer Securitized Income Fund | 6.46% | 6.62% | 6.94% | 8.07% | 5.96% | 2.48% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PSHYX and SYFFX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SYFFX has higher volatility (0.72%) compared to PSHYX (0.64%). In terms of maximum drawdown, PSHYX dropped -12.98% vs SYFFX's -38.78%.
SYFFX currently has the higher Sharpe Ratio (2.01 vs 1.51), 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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