TMAYX vs. RCRYX
TMAYX (Touchstone Ares Credit Opportunities Fund Class Y) and RCRYX (Pioneer Corporate High Yield Fund) are both High Yield Bonds funds. Over the past 10 years, TMAYX returned 4.55%/yr vs 4.07%/yr for RCRYX. At a 0.47 correlation, their price movements are largely independent. TMAYX charges 0.78%/yr vs 0.60%/yr for RCRYX.
Performance
TMAYX vs. RCRYX - Performance Comparison
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Returns By Period
In the year-to-date period, TMAYX achieves a 1.54% return, which is significantly lower than RCRYX's 1.69% return. Over the past 10 years, TMAYX has outperformed RCRYX with an annualized return of 4.55%, while RCRYX has yielded a comparatively lower 4.07% annualized return.
TMAYX
- 1D
- -0.11%
- 1M
- 0.48%
- YTD
- 1.54%
- 6M
- 1.82%
- 1Y
- 4.72%
- 3Y*
- 8.16%
- 5Y*
- 4.56%
- 10Y*
- 4.55%
RCRYX
- 1D
- 0.00%
- 1M
- 0.11%
- YTD
- 1.69%
- 6M
- 2.16%
- 1Y
- 6.14%
- 3Y*
- 7.72%
- 5Y*
- 2.72%
- 10Y*
- 4.07%
TMAYX vs. RCRYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TMAYX Touchstone Ares Credit Opportunities Fund Class Y | 1.54% | 6.15% | 8.27% | 13.25% | -8.54% | 9.47% | 4.72% | 12.39% | -2.47% | 0.31% |
RCRYX Pioneer Corporate High Yield Fund | 1.69% | 7.00% | 8.07% | 8.30% | -12.08% | 5.65% | 4.25% | 9.77% | -2.08% | 5.67% |
Correlation
The correlation between TMAYX and RCRYX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013 | 0.47 |
Over the past year, the correlation between TMAYX and RCRYX has dropped to 0.24 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
TMAYX vs. RCRYX — Risk / Return Rank
TMAYX
RCRYX
TMAYX vs. RCRYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Touchstone Ares Credit Opportunities Fund Class Y (TMAYX) and Pioneer Corporate High Yield Fund (RCRYX). 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.
| TMAYX | RCRYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.59 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 1.91 | +0.55 |
| Martin ratioReturn relative to average drawdown | 10.23 | 17.35 | -7.12 |
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Drawdowns
TMAYX vs. RCRYX - Drawdown Comparison
The maximum TMAYX drawdown since its inception was -21.44%, roughly equal to the maximum RCRYX drawdown of -21.13%. Use the drawdown chart below to compare losses from any high point for TMAYX and RCRYX.
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Drawdown Indicators
| TMAYX | RCRYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.44% | -21.13% | -0.31% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -3.23% | +1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -4.36% | -3.94% | -0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -13.66% | -14.92% | +1.26% |
Max Drawdown (10Y)Largest decline over 10 years | -21.44% | -21.13% | -0.31% |
Current DrawdownCurrent decline from peak | -0.22% | -0.83% | +0.61% |
Average DrawdownAverage peak-to-trough decline | -2.10% | -2.43% | +0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 0.35% | +0.13% |
Volatility
TMAYX vs. RCRYX - Volatility Comparison
The current volatility for Touchstone Ares Credit Opportunities Fund Class Y (TMAYX) is 0.67%, while Pioneer Corporate High Yield Fund (RCRYX) has a volatility of 0.99%. This indicates that TMAYX experiences smaller price fluctuations and is considered to be less risky than RCRYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TMAYX | RCRYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 0.99% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.07% | 4.54% | -2.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.63% | 4.80% | -2.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.70% | 4.58% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.06% | 4.69% | +0.37% |
TMAYX vs. RCRYX - Expense Ratio Comparison
TMAYX has a 0.78% expense ratio, which is higher than RCRYX's 0.60% expense ratio.
Dividends
TMAYX vs. RCRYX - Dividend Comparison
TMAYX's dividend yield for the trailing twelve months is around 7.73%, more than RCRYX's 5.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RCRYX Pioneer Corporate High Yield Fund | 5.26% | 5.39% | 5.13% | 3.95% | 4.45% | 4.71% | 4.76% | 4.51% | 4.44% | 5.01% | 6.44% | 4.43% |
TMAYX Touchstone Ares Credit Opportunities Fund Class Y | 7.73% | 7.25% | 7.82% | 7.91% | 6.25% | 6.37% | 6.43% | 3.81% | 2.18% | 4.47% | 2.86% | 1.81% |
Frequently Asked Questions
TMAYX and RCRYX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RCRYX has higher volatility (0.99%) compared to TMAYX (0.67%). In terms of maximum drawdown, TMAYX dropped -21.44% vs RCRYX's -21.13%.
TMAYX currently has the higher Sharpe Ratio (1.90 vs 1.29), 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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