VLAAX vs. PMAIX
VLAAX (Value Line Asset Allocation Fund) and PMAIX (Pioneer Multi-Asset Income Fund A) are both Diversified Portfolio funds. Over the past 10 years, VLAAX returned 7.04%/yr vs 8.48%/yr for PMAIX. Their 0.50 correlation means their historical movements had little consistent relationship. VLAAX charges 1.04%/yr vs 0.85%/yr for PMAIX.
Performance
VLAAX vs. PMAIX - Performance Comparison
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Returns By Period
In the year-to-date period, VLAAX achieves a -3.92% return, which is significantly lower than PMAIX's 7.43% return. Over the past 10 years, VLAAX has underperformed PMAIX with an annualized return of 7.04%, while PMAIX has yielded a comparatively higher 8.48% annualized return.
VLAAX
- 1D
- -1.00%
- 1M
- -0.65%
- 6M
- -2.34%
- YTD
- -3.92%
- 1Y
- -9.23%
- 3Y*
- 3.51%
- 5Y*
- 1.77%
- 10Y*
- 7.04%
- ALL TIME*
- 8.80%
PMAIX
- 1D
- 0.07%
- 1M
- 1.41%
- 6M
- 4.84%
- YTD
- 7.43%
- 1Y
- 15.50%
- 3Y*
- 12.50%
- 5Y*
- 8.89%
- 10Y*
- 8.48%
- ALL TIME*
- 8.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VLAAX vs. PMAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLAAX Value Line Asset Allocation Fund | -3.92% | -2.61% | 9.36% | 21.52% | -15.70% | 11.77% | 15.24% | 25.40% | 2.00% | 14.94% |
PMAIX Pioneer Multi-Asset Income Fund A | 7.43% | 23.03% | 6.09% | 7.32% | -0.79% | 12.00% | 5.35% | 10.88% | -6.10% | 17.97% |
Correlation
The correlation between VLAAX and PMAIX is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.48 |
Correlation (3Y) Balances recent behavior with more history. | 0.42 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.44 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.43 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2011 | 0.50 |
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Return for Risk
VLAAX vs. PMAIX — Risk / Return Rank
VLAAX
PMAIX
VLAAX vs. PMAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Value Line Asset Allocation Fund (VLAAX) 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.
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.
| VLAAX | PMAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.61 | ||
| Sortino ratioReturn per unit of downside risk | -5.22 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.47 | -0.63 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | 3.72 | -4.44 |
| Martin ratioReturn relative to average drawdown | -1.16 | 12.91 | -14.07 |
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Drawdowns
VLAAX vs. PMAIX - Drawdown Comparison
The maximum VLAAX drawdown since its inception was -43.95%, which is greater than PMAIX's maximum drawdown of -24.12%. Use the drawdown chart below to compare losses from any high point for VLAAX and PMAIX.
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Drawdown Indicators
| VLAAX | PMAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.95% | -24.12% | -19.83% |
Max Drawdown (1Y)Largest decline over 1 year | -13.99% | -4.07% | -9.92% |
Max Drawdown (3Y)Largest decline over 3 years | -20.28% | -7.99% | -12.29% |
Max Drawdown (5Y)Largest decline over 5 years | -22.26% | -13.97% | -8.29% |
Max Drawdown (10Y)Largest decline over 10 years | -23.89% | -24.12% | +0.23% |
Current DrawdownCurrent decline from peak | -17.01% | -0.07% | -16.94% |
Average DrawdownAverage peak-to-trough decline | -6.94% | -2.64% | -4.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.65% | 1.17% | +7.48% |
Volatility
VLAAX vs. PMAIX - Volatility Comparison
Value Line Asset Allocation Fund (VLAAX) has a higher volatility of 3.41% compared to Pioneer Multi-Asset Income Fund A (PMAIX) at 1.94%. This indicates that VLAAX'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
| VLAAX | PMAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 1.94% | +1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 7.27% | 4.87% | +2.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.42% | 5.97% | +3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.71% | 7.23% | +6.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.93% | 7.52% | +5.41% |
VLAAX vs. PMAIX - Expense Ratio Comparison
VLAAX has a 1.04% expense ratio, which is higher than PMAIX's 0.85% expense ratio.
Dividends
VLAAX vs. PMAIX - Dividend Comparison
VLAAX's dividend yield for the trailing twelve months is around 12.72%, more than PMAIX's 5.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMAIX Pioneer Multi-Asset Income Fund A | 5.62% | 6.29% | 5.30% | 5.14% | 4.53% | 5.50% | 5.39% | 5.78% | 5.83% | 6.69% | 5.53% | 5.92% |
VLAAX Value Line Asset Allocation Fund | 12.72% | 12.22% | 10.14% | 9.88% | 6.00% | 6.43% | 0.53% | 1.74% | 3.09% | 4.34% | 2.38% | 2.98% |
Frequently Asked Questions
VLAAX and PMAIX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VLAAX has higher volatility (3.41%) compared to PMAIX (1.94%). In terms of maximum drawdown, VLAAX dropped -43.95% vs PMAIX's -24.12%.
PMAIX currently has the higher Sharpe Ratio (2.54 vs -1.07), 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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