RCRYX vs. VWEAX

Last updated Jun 4, 2026

RCRYX (Pioneer Corporate High Yield Fund) and VWEAX (Vanguard High-Yield Corporate Fund Admiral Shares) are both High Yield Bonds funds. Over the past 10 years, RCRYX returned 4.11%/yr vs 5.26%/yr for VWEAX. A 0.67 correlation means they provide meaningful diversification when combined. RCRYX charges 0.60%/yr vs 0.13%/yr for VWEAX.

Performance

RCRYX vs. VWEAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pioneer Corporate High Yield Fund (RCRYX) and Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RCRYX achieves a 2.42% return, which is significantly higher than VWEAX's 1.20% return. Over the past 10 years, RCRYX has underperformed VWEAX with an annualized return of 4.11%, while VWEAX has yielded a comparatively higher 5.26% annualized return.

RCRYX

• 1D: -0.12%
• 1M: 0.47%
• YTD: 2.42%
• 6M: 2.90%
• 1Y: 7.03%
• 3Y*: 7.88%
• 5Y*: 2.96%
• 10Y*: 4.11%

VWEAX

• 1D: 0.00%
• 1M: 0.54%
• YTD: 1.20%
• 6M: 1.91%
• 1Y: 7.12%
• 3Y*: 8.28%
• 5Y*: 4.19%
• 10Y*: 5.26%

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

RCRYX vs. VWEAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RCRYX Pioneer Corporate High Yield Fund	2.42%	7.00%	8.07%	8.30%	-12.08%	5.65%	4.25%	9.77%	-2.08%	5.67%
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares	1.20%	9.49%	6.42%	11.79%	-8.95%	3.04%	5.41%	15.92%	-2.80%	7.17%

Correlation

The correlation between RCRYX and VWEAX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jan 4, 2012	0.67

Over the past year, the correlation between RCRYX and VWEAX has dropped to 0.34 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

Return for Risk

RCRYX vs. VWEAX — Risk / Return Rank

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

RCRYX

RCRYX Risk / Return Rank: 55
RCRYX Sharpe Ratio Rank: 26
RCRYX Sortino Ratio Rank: 30
RCRYX Omega Ratio Rank: 93
RCRYX Calmar Ratio Rank: 34
RCRYX Martin Ratio Rank: 94

VWEAX

VWEAX Risk / Return Rank: 70
VWEAX Sharpe Ratio Rank: 56
VWEAX Sortino Ratio Rank: 81
VWEAX Omega Ratio Rank: 83
VWEAX Calmar Ratio Rank: 55
VWEAX Martin Ratio Rank: 77

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.

RCRYX vs. VWEAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pioneer Corporate High Yield Fund (RCRYX) and Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX). 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.

	RCRYX	VWEAX	Difference
Sharpe ratio: Return per unit of total volatility	1.48	2.20	-0.72
Sortino ratio: Return per unit of downside risk	2.28	3.81	-1.53
Omega ratio: Gain probability vs. loss probability	1.72	1.55	+0.17
Calmar ratio: Return relative to maximum drawdown	2.19	2.83	-0.65
Martin ratio: Return relative to average drawdown	21.62	14.47	+7.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RCRYX vs. VWEAX - Sharpe Ratio Comparison

The current RCRYX Sharpe Ratio is 1.48, which is lower than the VWEAX Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of RCRYX and VWEAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RCRYX	VWEAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.48	2.20	-0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.86	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	1.00	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	1.23	-0.24

Drawdowns

RCRYX vs. VWEAX - Drawdown Comparison

The maximum RCRYX drawdown since its inception was -21.13%, smaller than the maximum VWEAX drawdown of -30.05%. Use the drawdown chart below to compare losses from any high point for RCRYX and VWEAX.

Drawdown Indicators

	RCRYX	VWEAX	Difference
Max Drawdown Largest peak-to-trough decline	-21.13%	-30.05%	+8.92%
Max Drawdown (1Y) Largest decline over 1 year	-3.23%	-2.52%	-0.71%
Max Drawdown (3Y) Largest decline over 3 years	-3.94%	-3.32%	-0.62%
Max Drawdown (5Y) Largest decline over 5 years	-14.92%	-13.77%	-1.15%
Max Drawdown (10Y) Largest decline over 10 years	-21.13%	-19.68%	-1.45%
Current Drawdown Current decline from peak	-0.12%	0.00%	-0.12%
Average Drawdown Average peak-to-trough decline	-2.44%	-2.12%	-0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	0.49%	-0.16%

Volatility

RCRYX vs. VWEAX - Volatility Comparison

The current volatility for Pioneer Corporate High Yield Fund (RCRYX) is 0.82%, while Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) has a volatility of 0.98%. This indicates that RCRYX experiences smaller price fluctuations and is considered to be less risky than VWEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RCRYX	VWEAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.82%	0.98%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	4.51%	2.56%	+1.95%
Volatility (1Y) Calculated over the trailing 1-year period	4.77%	3.25%	+1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.57%	4.91%	-0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.70%	5.28%	-0.58%

RCRYX vs. VWEAX - Expense Ratio Comparison

RCRYX has a 0.60% expense ratio, which is higher than VWEAX's 0.13% expense ratio.

Dividends

RCRYX vs. VWEAX - Dividend Comparison

RCRYX's dividend yield for the trailing twelve months is around 5.22%, less than VWEAX's 6.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RCRYX Pioneer Corporate High Yield Fund	5.22%	5.39%	5.13%	3.95%	4.45%	4.71%	4.76%	4.51%	4.44%	5.01%	6.44%	4.43%
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares	6.36%	6.25%	6.20%	5.79%	5.21%	3.49%	4.71%	5.33%	6.07%	5.39%	5.51%	6.53%

Frequently Asked Questions

Can I hold both RCRYX and VWEAX in my portfolio?

RCRYX and VWEAX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RCRYX or VWEAX?

VWEAX has higher volatility (0.98%) compared to RCRYX (0.82%). In terms of maximum drawdown, RCRYX dropped -21.13% vs VWEAX's -30.05%.

Which has better risk-adjusted returns?

VWEAX currently has the higher Sharpe Ratio (2.20 vs 1.48), 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.