XILSX vs. PSHNX

Last updated Jun 24, 2026

XILSX (Pioneer ILS Interval Fund) and PSHNX (Penn Capital Short Duration High Income Fund) are both High Yield Bonds funds. Over the past 5 years, XILSX returned 12.38%/yr vs 4.82%/yr for PSHNX. At a correlation of -0.01, they often move in opposite directions. XILSX charges 1.88%/yr vs 1.01%/yr for PSHNX.

Performance

XILSX vs. PSHNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pioneer ILS Interval Fund (XILSX) and Penn Capital Short Duration High Income Fund (PSHNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XILSX achieves a 8.39% return, which is significantly higher than PSHNX's 1.84% return.

XILSX

• 1D: 0.10%
• 1M: 1.06%
• YTD: 8.39%
• 6M: 10.33%
• 1Y: 24.34%
• 3Y*: 19.35%
• 5Y*: 12.38%
• 10Y*: —

PSHNX

• 1D: 0.00%
• 1M: 0.68%
• YTD: 1.84%
• 6M: 2.05%
• 1Y: 5.89%
• 3Y*: 7.32%
• 5Y*: 4.82%
• 10Y*: —

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

XILSX vs. PSHNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XILSX Pioneer ILS Interval Fund	8.39%	18.70%	18.93%	18.65%	1.23%	-1.10%	7.37%	2.60%	-2.11%	-11.08%
PSHNX Penn Capital Short Duration High Income Fund	1.84%	7.72%	7.19%	8.72%	-2.26%	3.43%	0.88%	7.40%	0.61%	0.65%

Correlation

The correlation between XILSX and PSHNX is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (5Y) Calculated over the trailing 5-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Jul 20, 2017	-0.01

Return for Risk

XILSX vs. PSHNX — Risk / Return Rank

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

XILSX

XILSX Risk / Return Rank: 100
XILSX Sharpe Ratio Rank: 100
XILSX Sortino Ratio Rank: 100
XILSX Omega Ratio Rank: 100
XILSX Calmar Ratio Rank: 100
XILSX Martin Ratio Rank: 100

PSHNX

PSHNX Risk / Return Rank: 96
PSHNX Sharpe Ratio Rank: 96
PSHNX Sortino Ratio Rank: 97
PSHNX Omega Ratio Rank: 96
PSHNX Calmar Ratio Rank: 95
PSHNX Martin Ratio Rank: 98

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.

XILSX vs. PSHNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pioneer ILS Interval Fund (XILSX) and Penn Capital Short Duration High Income Fund (PSHNX). 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.

	XILSX	PSHNX	Difference
Sharpe ratio: Return per unit of total volatility	8.08	3.25	+4.83
Sortino ratio: Return per unit of downside risk	80.25	5.30	+74.95
Omega ratio: Gain probability vs. loss probability	42.70	1.77	+40.93
Calmar ratio: Return relative to maximum drawdown	116.39	5.36	+111.03
Martin ratio: Return relative to average drawdown	794.55	27.21	+767.34

XILSX vs. PSHNX - Sharpe Ratio Comparison

The current XILSX Sharpe Ratio is 8.08, which is higher than the PSHNX Sharpe Ratio of 3.25. The chart below compares the historical Sharpe Ratios of XILSX and PSHNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XILSX vs. PSHNX - Drawdown Comparison

The maximum XILSX drawdown since its inception was -14.53%, roughly equal to the maximum PSHNX drawdown of -14.53%. Use the drawdown chart below to compare losses from any high point for XILSX and PSHNX.

Drawdown Indicators

	XILSX	PSHNX	Difference
Max Drawdown Largest peak-to-trough decline	-14.53%	-14.53%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-0.21%	-1.14%	+0.93%
Max Drawdown (3Y) Largest decline over 3 years	-2.36%	-2.83%	+0.47%
Max Drawdown (5Y) Largest decline over 5 years	-6.27%	-6.02%	-0.25%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.88%	-0.88%	-4.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	0.23%	-0.20%

Volatility

XILSX vs. PSHNX - Volatility Comparison

Pioneer ILS Interval Fund (XILSX) and Penn Capital Short Duration High Income Fund (PSHNX) have volatilities of 0.45% and 0.44%, 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

	XILSX	PSHNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.45%	0.44%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	1.99%	1.48%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	3.05%	1.89%	+1.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.77%	2.65%	+1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.92%	3.15%	+0.77%

XILSX vs. PSHNX - Expense Ratio Comparison

XILSX has a 1.88% expense ratio, which is higher than PSHNX's 1.01% expense ratio.

Dividends

XILSX vs. PSHNX - Dividend Comparison

XILSX's dividend yield for the trailing twelve months is around 8.77%, more than PSHNX's 6.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSHNX Penn Capital Short Duration High Income Fund	6.06%	6.27%	6.43%	4.95%	3.47%	3.17%	3.95%	3.65%	3.13%	1.46%
XILSX Pioneer ILS Interval Fund	8.77%	9.51%	13.06%	12.82%	2.68%	2.04%	5.20%	6.63%	6.40%	0.00%

Frequently Asked Questions

Can I hold both XILSX and PSHNX in my portfolio?

XILSX and PSHNX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XILSX or PSHNX?

XILSX has higher volatility (0.45%) compared to PSHNX (0.44%). In terms of maximum drawdown, XILSX dropped -14.53% vs PSHNX's -14.53%.

Which has better risk-adjusted returns?

XILSX currently has the higher Sharpe Ratio (8.08 vs 3.25), 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.