RCRYX vs. FPIOX
RCRYX (Pioneer Corporate High Yield Fund) and FPIOX (Strategic Advisers Income Opportunities Fund) are both High Yield Bonds funds. Over the past 10 years, RCRYX returned 3.80%/yr vs 4.96%/yr for FPIOX. Their 0.68 correlation means they have sometimes moved together and sometimes differently. RCRYX charges 0.60%/yr vs 0.49%/yr for FPIOX.
Performance
RCRYX vs. FPIOX - Performance Comparison
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Returns By Period
In the year-to-date period, RCRYX achieves a 2.15% return, which is significantly higher than FPIOX's 0.79% return. Over the past 10 years, RCRYX has underperformed FPIOX with an annualized return of 3.80%, while FPIOX has yielded a comparatively higher 4.96% annualized return.
RCRYX
- 1D
- 0.24%
- 1M
- -0.12%
- 6M
- 1.07%
- YTD
- 2.15%
- 1Y
- 5.20%
- 3Y*
- 7.05%
- 5Y*
- 2.67%
- 10Y*
- 3.80%
- ALL TIME*
- 4.09%
FPIOX
- 1D
- 0.23%
- 1M
- -0.89%
- 6M
- 0.57%
- YTD
- 0.79%
- 1Y
- 3.94%
- 3Y*
- 7.30%
- 5Y*
- 3.37%
- 10Y*
- 4.96%
- ALL TIME*
- 5.26%
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 |
RCRYX vs. FPIOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RCRYX Pioneer Corporate High Yield Fund | 2.15% | 7.00% | 8.07% | 8.30% | -12.08% | 5.65% | 4.25% | 9.77% | -2.08% | 5.67% |
FPIOX Strategic Advisers Income Opportunities Fund | 0.79% | 8.47% | 7.89% | 11.85% | -11.84% | 5.35% | 5.64% | 14.77% | -3.53% | 8.21% |
Correlation
The correlation between RCRYX and FPIOX is 0.45, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.45 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012 | 0.68 |
Over the past year, the correlation between RCRYX and FPIOX has dropped to 0.45 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
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Return for Risk
RCRYX vs. FPIOX — Risk / Return Rank
RCRYX
FPIOX
RCRYX vs. FPIOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer Corporate High Yield Fund (RCRYX) and Strategic Advisers Income Opportunities Fund (FPIOX). 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.
| RCRYX | FPIOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.31 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 1.95 | -0.13 |
| Martin ratioReturn relative to average drawdown | 14.49 | 8.66 | +5.83 |
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Drawdowns
RCRYX vs. FPIOX - Drawdown Comparison
The maximum RCRYX drawdown since its inception was -21.13%, smaller than the maximum FPIOX drawdown of -36.95%. Use the drawdown chart below to compare losses from any high point for RCRYX and FPIOX.
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Drawdown Indicators
| RCRYX | FPIOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.13% | -36.95% | +15.82% |
Max Drawdown (1Y)Largest decline over 1 year | -3.23% | -2.66% | -0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -3.94% | -3.92% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -14.92% | -15.14% | +0.22% |
Max Drawdown (10Y)Largest decline over 10 years | -21.13% | -21.77% | +0.64% |
Current DrawdownCurrent decline from peak | -0.38% | -1.11% | +0.73% |
Average DrawdownAverage peak-to-trough decline | -2.42% | -3.62% | +1.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 0.56% | -0.15% |
Volatility
RCRYX vs. FPIOX - Volatility Comparison
The current volatility for Pioneer Corporate High Yield Fund (RCRYX) is 0.51%, while Strategic Advisers Income Opportunities Fund (FPIOX) has a volatility of 0.66%. This indicates that RCRYX experiences smaller price fluctuations and is considered to be less risky than FPIOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RCRYX | FPIOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 0.66% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 4.56% | 2.73% | +1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.81% | 3.49% | +1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.57% | 5.11% | -0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.67% | 5.50% | -0.83% |
RCRYX vs. FPIOX - Expense Ratio Comparison
RCRYX has a 0.60% expense ratio, which is higher than FPIOX's 0.49% expense ratio.
Dividends
RCRYX vs. FPIOX - Dividend Comparison
RCRYX's dividend yield for the trailing twelve months is around 5.20%, more than FPIOX's 4.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPIOX Strategic Advisers Income Opportunities Fund | 4.47% | 5.34% | 5.81% | 5.52% | 4.34% | 4.70% | 5.20% | 5.53% | 5.48% | 5.02% | 5.88% | 6.58% |
RCRYX Pioneer Corporate High Yield Fund | 5.20% | 5.39% | 5.13% | 3.95% | 4.45% | 4.71% | 4.76% | 4.51% | 4.44% | 5.01% | 6.44% | 4.43% |
Frequently Asked Questions
RCRYX and FPIOX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPIOX has higher volatility (0.66%) compared to RCRYX (0.51%). In terms of maximum drawdown, RCRYX dropped -21.13% vs FPIOX's -36.95%.
FPIOX currently has the higher Sharpe Ratio (1.49 vs 1.22), 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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