SYFFX vs. CBYYX
SYFFX (Pioneer Securitized Income Fund) and CBYYX (Victory Pioneer Cat Bond Fund Class Y) are both Nontraditional Bonds funds. Over the past year, SYFFX returned 5.39% vs 10.85% for CBYYX. At a 0.08 correlation, their price movements are largely independent. SYFFX charges 0.65%/yr vs 1.46%/yr for CBYYX.
Performance
SYFFX vs. CBYYX - Performance Comparison
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Returns By Period
In the year-to-date period, SYFFX achieves a 1.93% return, which is significantly lower than CBYYX's 2.27% return.
SYFFX
- 1D
- -0.11%
- 1M
- 0.41%
- YTD
- 1.93%
- 6M
- 2.59%
- 1Y
- 5.39%
- 3Y*
- 8.60%
- 5Y*
- 5.48%
- 10Y*
- —
CBYYX
- 1D
- 0.00%
- 1M
- 0.54%
- YTD
- 2.27%
- 6M
- 2.65%
- 1Y
- 10.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SYFFX vs. CBYYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SYFFX Pioneer Securitized Income Fund | 1.93% | 6.83% | 9.33% | 5.31% |
CBYYX Victory Pioneer Cat Bond Fund Class Y | 2.27% | 11.09% | 15.69% | 3.43% |
Correlation
The correlation between SYFFX and CBYYX is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2023 | 0.08 |
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Return for Risk
SYFFX vs. CBYYX — Risk / Return Rank
SYFFX
CBYYX
SYFFX vs. CBYYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer Securitized Income Fund (SYFFX) and Victory Pioneer Cat Bond Fund Class Y (CBYYX). 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.
| SYFFX | CBYYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.78 | ||
| Sortino ratioReturn per unit of downside risk | -25.74 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 8.74 | -7.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.56 | 121.08 | -117.52 |
| Martin ratioReturn relative to average drawdown | 9.59 | 426.15 | -416.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SYFFX | CBYYX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 8.97 | -6.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.82 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 1.45 | -0.97 |
Drawdowns
SYFFX vs. CBYYX - Drawdown Comparison
The maximum SYFFX drawdown since its inception was -38.78%, which is greater than CBYYX's maximum drawdown of -8.72%. Use the drawdown chart below to compare losses from any high point for SYFFX and CBYYX.
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Drawdown Indicators
| SYFFX | CBYYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.78% | -8.72% | -30.06% |
Max Drawdown (1Y)Largest decline over 1 year | -1.55% | -0.09% | -1.46% |
Max Drawdown (3Y)Largest decline over 3 years | -1.55% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -6.11% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | 0.00% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -3.91% | -1.31% | -2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 0.03% | +0.54% |
Volatility
SYFFX vs. CBYYX - Volatility Comparison
Pioneer Securitized Income Fund (SYFFX) has a higher volatility of 0.68% compared to Victory Pioneer Cat Bond Fund Class Y (CBYYX) at 0.20%. This indicates that SYFFX's price experiences larger fluctuations and is considered to be riskier than CBYYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SYFFX | CBYYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 0.20% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 0.60% | +1.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.51% | 1.23% | +1.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.03% | 8.21% | -5.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.78% | 8.21% | +0.57% |
SYFFX vs. CBYYX - Expense Ratio Comparison
SYFFX has a 0.65% expense ratio, which is lower than CBYYX's 1.46% expense ratio.
Dividends
SYFFX vs. CBYYX - Dividend Comparison
SYFFX's dividend yield for the trailing twelve months is around 6.44%, less than CBYYX's 8.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CBYYX Victory Pioneer Cat Bond Fund Class Y | 8.93% | 9.14% | 10.33% | 9.41% | 0.00% | 0.00% |
SYFFX Pioneer Securitized Income Fund | 6.44% | 6.62% | 6.94% | 8.07% | 5.96% | 2.48% |
Frequently Asked Questions
SYFFX and CBYYX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SYFFX has higher volatility (0.68%) compared to CBYYX (0.20%). In terms of maximum drawdown, SYFFX dropped -38.78% vs CBYYX's -8.72%.
CBYYX currently has the higher Sharpe Ratio (8.97 vs 2.20), 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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