PSHYX vs. VBIRX
PSHYX (Pioneer Short Term Income Fund) and VBIRX (Vanguard Short-Term Bond Index Fund Admiral Shares) are both Short-Term Bond funds. Over the past 10 years, PSHYX returned 2.50%/yr vs 1.85%/yr for VBIRX. Their 0.65 correlation means they have sometimes moved together and sometimes differently. PSHYX charges 0.46%/yr vs 0.06%/yr for VBIRX.
Performance
PSHYX vs. VBIRX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PSHYX achieves a 0.82% return, which is significantly higher than VBIRX's 0.14% return. Over the past 10 years, PSHYX has outperformed VBIRX with an annualized return of 2.50%, while VBIRX has yielded a comparatively lower 1.85% annualized return.
PSHYX
- 1D
- 0.00%
- 1M
- -0.23%
- 6M
- 0.40%
- YTD
- 0.82%
- 1Y
- 1.99%
- 3Y*
- 4.26%
- 5Y*
- 2.49%
- 10Y*
- 2.50%
- ALL TIME*
- 2.79%
VBIRX
- 1D
- 0.00%
- 1M
- -0.29%
- 6M
- 0.00%
- YTD
- 0.14%
- 1Y
- 2.10%
- 3Y*
- 4.40%
- 5Y*
- 1.54%
- 10Y*
- 1.85%
- ALL TIME*
- 2.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PSHYX vs. VBIRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSHYX Pioneer Short Term Income Fund | 0.82% | 4.96% | 4.93% | 5.64% | -3.42% | 1.83% | 1.79% | 4.74% | 1.77% | 1.72% |
VBIRX Vanguard Short-Term Bond Index Fund Admiral Shares | 0.14% | 6.09% | 3.75% | 4.87% | -5.63% | -1.20% | 4.69% | 4.86% | 1.37% | 1.18% |
Correlation
The correlation between PSHYX and VBIRX is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.80 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2004 | 0.65 |
The correlation between PSHYX and VBIRX shifts across timeframes, from 0.65 (all time) to 0.80 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PSHYX vs. VBIRX — Risk / Return Rank
PSHYX
VBIRX
PSHYX vs. VBIRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer Short Term Income Fund (PSHYX) and Vanguard Short-Term Bond Index Fund Admiral Shares (VBIRX). 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 | VBIRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.27 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 1.98 | +0.48 |
| Martin ratioReturn relative to average drawdown | 7.47 | 5.56 | +1.91 |
Loading charts...
Drawdowns
PSHYX vs. VBIRX - Drawdown Comparison
The maximum PSHYX drawdown since its inception was -12.98%, which is greater than VBIRX's maximum drawdown of -8.69%. Use the drawdown chart below to compare losses from any high point for PSHYX and VBIRX.
Loading charts...
Drawdown Indicators
| PSHYX | VBIRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.98% | -8.69% | -4.29% |
Max Drawdown (1Y)Largest decline over 1 year | -1.13% | -1.54% | +0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -1.13% | -1.55% | +0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -5.88% | -8.55% | +2.67% |
Max Drawdown (10Y)Largest decline over 10 years | -12.98% | -8.69% | -4.29% |
Current DrawdownCurrent decline from peak | -0.34% | -0.79% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -0.63% | -0.98% | +0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 0.55% | -0.18% |
Volatility
PSHYX vs. VBIRX - Volatility Comparison
Pioneer Short Term Income Fund (PSHYX) and Vanguard Short-Term Bond Index Fund Admiral Shares (VBIRX) have volatilities of 0.44% and 0.46%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PSHYX | VBIRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.44% | 0.46% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.46% | 1.68% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.01% | 2.24% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.27% | 2.98% | -0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.49% | 2.40% | +0.09% |
PSHYX vs. VBIRX - Expense Ratio Comparison
PSHYX has a 0.46% expense ratio, which is higher than VBIRX's 0.06% expense ratio.
Dividends
PSHYX vs. VBIRX - Dividend Comparison
PSHYX's dividend yield for the trailing twelve months is around 4.64%, more than VBIRX's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSHYX Pioneer Short Term Income Fund | 4.64% | 5.20% | 4.23% | 3.96% | 3.46% | 2.47% | 2.77% | 3.35% | 2.71% | 2.24% | 2.04% | 1.85% |
VBIRX Vanguard Short-Term Bond Index Fund Admiral Shares | 3.69% | 3.83% | 3.37% | 2.41% | 1.46% | 1.22% | 1.77% | 2.24% | 2.03% | 1.66% | 1.50% | 1.41% |
Frequently Asked Questions
PSHYX and VBIRX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBIRX has higher volatility (0.46%) compared to PSHYX (0.44%). In terms of maximum drawdown, PSHYX dropped -12.98% vs VBIRX's -8.69%.
PSHYX currently has the higher Sharpe Ratio (1.39 vs 1.37), 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.
Find the right allocation for PSHYX and VBIRX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer