TYHYX vs. DODIX
TYHYX (Pioneer High Yield Fund) and DODIX (Dodge & Cox Income Fund) are both mutual funds - TYHYX is a High Yield Bonds fund managed by Amundi, while DODIX is a Intermediate Core-Plus Bond fund actively managed by Dodge & Cox. Over the past 10 years, TYHYX returned 4.87%/yr vs 2.88%/yr for DODIX. At a 0.09 correlation, their price movements are largely independent. TYHYX charges 0.85%/yr vs 0.41%/yr for DODIX.
Performance
TYHYX vs. DODIX - Performance Comparison
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Returns By Period
In the year-to-date period, TYHYX achieves a 1.85% return, which is significantly higher than DODIX's 0.43% return. Over the past 10 years, TYHYX has outperformed DODIX with an annualized return of 4.87%, while DODIX has yielded a comparatively lower 2.88% annualized return.
TYHYX
- 1D
- 0.00%
- 1M
- 0.84%
- YTD
- 1.85%
- 6M
- 2.45%
- 1Y
- 6.72%
- 3Y*
- 7.38%
- 5Y*
- 3.04%
- 10Y*
- 4.87%
DODIX
- 1D
- -0.23%
- 1M
- 0.71%
- YTD
- 0.43%
- 6M
- 0.59%
- 1Y
- 5.17%
- 3Y*
- 5.09%
- 5Y*
- 1.18%
- 10Y*
- 2.88%
TYHYX vs. DODIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TYHYX Pioneer High Yield Fund | 1.85% | 7.99% | 6.55% | 9.17% | -11.19% | 5.99% | 3.35% | 14.36% | -3.30% | 7.87% |
DODIX Dodge & Cox Income Fund | 0.43% | 8.32% | 2.25% | 7.69% | -11.42% | -0.92% | 9.46% | 9.73% | -0.31% | 4.36% |
Correlation
The correlation between TYHYX and DODIX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 1998 | 0.09 |
Over the past year, TYHYX and DODIX have become more correlated (0.49) than their long-term average of 0.09, meaning their price movements have been converging.
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Return for Risk
TYHYX vs. DODIX — Risk / Return Rank
TYHYX
DODIX
TYHYX vs. DODIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer High Yield Fund (TYHYX) and Dodge & Cox Income Fund (DODIX). 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.
| TYHYX | DODIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.25 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | 1.74 | +1.01 |
| Martin ratioReturn relative to average drawdown | 13.51 | 4.97 | +8.54 |
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Drawdowns
TYHYX vs. DODIX - Drawdown Comparison
The maximum TYHYX drawdown since its inception was -40.86%, which is greater than DODIX's maximum drawdown of -16.89%. Use the drawdown chart below to compare losses from any high point for TYHYX and DODIX.
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Drawdown Indicators
| TYHYX | DODIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.86% | -16.89% | -23.97% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -3.17% | +0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -4.19% | -5.68% | +1.49% |
Max Drawdown (5Y)Largest decline over 5 years | -14.11% | -16.89% | +2.78% |
Max Drawdown (10Y)Largest decline over 10 years | -23.73% | -16.89% | -6.84% |
Current DrawdownCurrent decline from peak | -0.23% | -1.71% | +1.48% |
Average DrawdownAverage peak-to-trough decline | -3.98% | -1.50% | -2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 1.11% | -0.60% |
Volatility
TYHYX vs. DODIX - Volatility Comparison
The current volatility for Pioneer High Yield Fund (TYHYX) is 0.84%, while Dodge & Cox Income Fund (DODIX) has a volatility of 1.11%. This indicates that TYHYX experiences smaller price fluctuations and is considered to be less risky than DODIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYHYX | DODIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 1.11% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 3.07% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.35% | 4.06% | -0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.47% | 5.57% | -1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.21% | 4.46% | +0.75% |
TYHYX vs. DODIX - Expense Ratio Comparison
TYHYX has a 0.85% expense ratio, which is higher than DODIX's 0.41% expense ratio.
Dividends
TYHYX vs. DODIX - Dividend Comparison
TYHYX's dividend yield for the trailing twelve months is around 5.81%, more than DODIX's 4.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DODIX Dodge & Cox Income Fund | 4.26% | 4.23% | 4.24% | 3.86% | 2.19% | 3.23% | 4.66% | 3.63% | 3.43% | 3.03% | 3.25% | 3.09% |
TYHYX Pioneer High Yield Fund | 5.81% | 5.91% | 4.13% | 4.10% | 5.23% | 4.44% | 5.23% | 5.17% | 5.13% | 4.97% | 5.12% | 6.29% |
Frequently Asked Questions
TYHYX and DODIX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DODIX has higher volatility (1.11%) compared to TYHYX (0.84%). In terms of maximum drawdown, TYHYX dropped -40.86% vs DODIX's -16.89%.
TYHYX currently has the higher Sharpe Ratio (2.05 vs 1.36), 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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