VGWAX vs. PMAIX
Compare and contrast key facts about Vanguard Global Wellington Fund Admiral Shares (VGWAX) and Pioneer Multi-Asset Income Fund A (PMAIX).
VGWAX is managed by Vanguard. It was launched on Nov 2, 2017. PMAIX is managed by Amundi. It was launched on Dec 22, 2011.
Performance
VGWAX vs. PMAIX - Performance Comparison
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VGWAX vs. PMAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VGWAX Vanguard Global Wellington Fund Admiral Shares | 1.04% | 17.48% | 6.27% | 12.54% | -7.07% | 13.51% | 7.51% | 22.16% | -5.05% |
PMAIX Pioneer Multi-Asset Income Fund A | 0.80% | 23.03% | 6.09% | 7.32% | -0.79% | 12.00% | 5.35% | 10.88% | -6.64% |
Returns By Period
In the year-to-date period, VGWAX achieves a 1.04% return, which is significantly higher than PMAIX's 0.80% return.
VGWAX
- 1D
- 0.23%
- 1M
- -6.46%
- YTD
- 1.04%
- 6M
- 5.86%
- 1Y
- 13.97%
- 3Y*
- 11.30%
- 5Y*
- 7.50%
- 10Y*
- —
PMAIX
- 1D
- 0.15%
- 1M
- -3.62%
- YTD
- 0.80%
- 6M
- 4.12%
- 1Y
- 16.77%
- 3Y*
- 11.84%
- 5Y*
- 7.92%
- 10Y*
- 8.45%
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VGWAX vs. PMAIX - Expense Ratio Comparison
VGWAX has a 0.29% expense ratio, which is lower than PMAIX's 0.85% expense ratio.
Return for Risk
VGWAX vs. PMAIX — Risk / Return Rank
VGWAX
PMAIX
VGWAX vs. PMAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Wellington Fund Admiral Shares (VGWAX) and Pioneer Multi-Asset Income Fund A (PMAIX). 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.
| VGWAX | PMAIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.50 | 2.39 | -0.89 |
Sortino ratioReturn per unit of downside risk | 2.05 | 3.02 | -0.97 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.51 | -0.21 |
Calmar ratioReturn relative to maximum drawdown | 1.95 | 2.32 | -0.37 |
Martin ratioReturn relative to average drawdown | 7.80 | 10.88 | -3.08 |
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
| VGWAX | PMAIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 2.39 | -0.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 1.11 | -0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.12 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 1.12 | -0.38 |
Correlation
The correlation between VGWAX and PMAIX is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VGWAX vs. PMAIX - Dividend Comparison
VGWAX's dividend yield for the trailing twelve months is around 6.69%, more than PMAIX's 5.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGWAX Vanguard Global Wellington Fund Admiral Shares | 6.69% | 6.78% | 7.47% | 2.66% | 4.50% | 3.36% | 1.64% | 2.08% | 2.62% | 0.00% | 0.00% | 0.00% |
PMAIX Pioneer Multi-Asset Income Fund A | 5.82% | 6.29% | 5.30% | 5.14% | 4.53% | 5.50% | 5.39% | 5.78% | 5.83% | 6.69% | 5.53% | 5.92% |
Drawdowns
VGWAX vs. PMAIX - Drawdown Comparison
The maximum VGWAX drawdown since its inception was -25.28%, roughly equal to the maximum PMAIX drawdown of -24.12%. Use the drawdown chart below to compare losses from any high point for VGWAX and PMAIX.
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Drawdown Indicators
| VGWAX | PMAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.28% | -24.12% | -1.16% |
Max Drawdown (1Y)Largest decline over 1 year | -7.04% | -7.06% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -17.46% | -13.97% | -3.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.12% | — |
Current DrawdownCurrent decline from peak | -6.46% | -3.62% | -2.84% |
Average DrawdownAverage peak-to-trough decline | -2.94% | -2.68% | -0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.76% | 1.51% | +0.25% |
Volatility
VGWAX vs. PMAIX - Volatility Comparison
Vanguard Global Wellington Fund Admiral Shares (VGWAX) has a higher volatility of 3.38% compared to Pioneer Multi-Asset Income Fund A (PMAIX) at 2.19%. This indicates that VGWAX's price experiences larger fluctuations and is considered to be riskier than PMAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGWAX | PMAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.38% | 2.19% | +1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 5.80% | 4.15% | +1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.58% | 7.19% | +2.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.09% | 7.20% | +1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.99% | 7.58% | +3.41% |