TRGOX vs. PIOTX

Last updated Jun 3, 2026

TRGOX (T. Rowe Price Large-Cap Growth Fund Investor Class) and PIOTX (Pioneer Core Equity Fund) are both mutual funds - TRGOX is a Large Cap Growth Equities fund managed by T. Rowe Price, while PIOTX is a Large Cap Blend Equities fund managed by Amundi. Over the past 5 years, TRGOX returned 12.39%/yr vs 10.03%/yr for PIOTX. A 0.79 correlation means they provide meaningful diversification when combined. TRGOX charges 0.70%/yr vs 0.88%/yr for PIOTX.

Performance

TRGOX vs. PIOTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Large-Cap Growth Fund Investor Class (TRGOX) and Pioneer Core Equity Fund (PIOTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRGOX achieves a 6.01% return, which is significantly lower than PIOTX's 10.92% return.

TRGOX

• 1D: 1.05%
• 1M: 5.85%
• YTD: 6.01%
• 6M: 5.33%
• 1Y: 22.25%
• 3Y*: 25.59%
• 5Y*: 12.39%
• 10Y*: —

PIOTX

• 1D: 0.33%
• 1M: 5.38%
• YTD: 10.92%
• 6M: 11.75%
• 1Y: 28.00%
• 3Y*: 17.53%
• 5Y*: 10.03%
• 10Y*: 13.73%

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

TRGOX vs. PIOTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TRGOX T. Rowe Price Large-Cap Growth Fund Investor Class	6.01%	17.31%	37.39%	46.03%	-35.36%	21.49%	42.90%
PIOTX Pioneer Core Equity Fund	10.92%	16.94%	14.35%	18.18%	-17.27%	25.81%	36.13%

Correlation

The correlation between TRGOX and PIOTX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since May 5, 2020	0.79

The correlation between TRGOX and PIOTX shifts across timeframes, from 0.60 (1 year) to 0.80 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TRGOX vs. PIOTX — Risk / Return Rank

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

TRGOX

TRGOX Risk / Return Rank: 20
TRGOX Sharpe Ratio Rank: 26
TRGOX Sortino Ratio Rank: 23
TRGOX Omega Ratio Rank: 24
TRGOX Calmar Ratio Rank: 13
TRGOX Martin Ratio Rank: 13

PIOTX

PIOTX Risk / Return Rank: 63
PIOTX Sharpe Ratio Rank: 66
PIOTX Sortino Ratio Rank: 59
PIOTX Omega Ratio Rank: 59
PIOTX Calmar Ratio Rank: 74
PIOTX Martin Ratio Rank: 56

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.

TRGOX vs. PIOTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Large-Cap Growth Fund Investor Class (TRGOX) and Pioneer Core Equity Fund (PIOTX). 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.

	TRGOX	PIOTX	Difference
Sharpe ratio Return per unit of total volatility	1.50	2.38	-0.88
Sortino ratio Return per unit of downside risk	2.08	3.23	-1.15
Omega ratio Gain probability vs. loss probability	1.26	1.43	-0.16
Calmar ratio Return relative to maximum drawdown	1.29	3.39	-2.10
Martin ratio Return relative to average drawdown	4.09	11.38	-7.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRGOX vs. PIOTX - Sharpe Ratio Comparison

The current TRGOX Sharpe Ratio is 1.50, which is lower than the PIOTX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of TRGOX and PIOTX, 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

	TRGOX	PIOTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	2.38	-0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.60	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.14	+0.70

Drawdowns

TRGOX vs. PIOTX - Drawdown Comparison

The maximum TRGOX drawdown since its inception was -41.29%, smaller than the maximum PIOTX drawdown of -66.24%. Use the drawdown chart below to compare losses from any high point for TRGOX and PIOTX.

Drawdown Indicators

	TRGOX	PIOTX	Difference
Max Drawdown Largest peak-to-trough decline	-41.29%	-66.24%	+24.95%
Max Drawdown (1Y) Largest decline over 1 year	-18.23%	-8.35%	-9.88%
Max Drawdown (3Y) Largest decline over 3 years	-21.19%	-20.40%	-0.79%
Max Drawdown (5Y) Largest decline over 5 years	-41.29%	-26.49%	-14.80%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.79%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-11.48%	-20.16%	+8.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.76%	2.49%	+3.27%

Volatility

TRGOX vs. PIOTX - Volatility Comparison

T. Rowe Price Large-Cap Growth Fund Investor Class (TRGOX) and Pioneer Core Equity Fund (PIOTX) have volatilities of 3.06% and 3.13%, 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.

Volatility by Period

	TRGOX	PIOTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	3.13%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	12.31%	8.33%	+3.98%
Volatility (1Y) Calculated over the trailing 1-year period	15.58%	12.00%	+3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.38%	16.91%	+5.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.14%	17.98%	+4.16%

TRGOX vs. PIOTX - Expense Ratio Comparison

TRGOX has a 0.70% expense ratio, which is lower than PIOTX's 0.88% expense ratio.

Dividends

TRGOX vs. PIOTX - Dividend Comparison

TRGOX's dividend yield for the trailing twelve months is around 12.95%, more than PIOTX's 6.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PIOTX Pioneer Core Equity Fund	6.79%	7.53%	5.87%	2.83%	7.10%	20.38%	8.56%	3.06%	19.73%	9.04%	1.13%	0.74%
TRGOX T. Rowe Price Large-Cap Growth Fund Investor Class	12.95%	13.73%	9.85%	2.04%	3.89%	1.15%	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TRGOX and PIOTX in my portfolio?

TRGOX and PIOTX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRGOX or PIOTX?

PIOTX has higher volatility (3.13%) compared to TRGOX (3.06%). In terms of maximum drawdown, TRGOX dropped -41.29% vs PIOTX's -66.24%.

Which has better risk-adjusted returns?

PIOTX currently has the higher Sharpe Ratio (2.38 vs 1.50), 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.