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MAFRX Pioneer Multi-Asset Ultrashort Income A

  • Fund
  • MAFRX
  • Price as of: Dec 05, 2016
  • $10.01
  • + $0.01
  • + 0.10%
  • Category
  • Total Bond Market

MAFRX - Profile

Vitals

  • YTD Return 0.7%
  • 3 Yr Annualized Return 1.0%
  • 5 Yr Annualized Return 1.4%
  • Net Assets $2.78 B
  • Holdings in Top 10 7.6%

52 WEEK LOW AND HIGH

$10.01
$9.90
$10.01

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.63%

SALES FEES

  • Front Load 2.50%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 58.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$250

Investment Themes

CATEGORY

Total Bond Market
  • Fund Type Open End Mutual Fund
  • Investment Style Ultrashort Bond

Distributions

  • YTD Total Return 0.7%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.01%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Pioneer Multi-Asset Ultrashort Income Fund
  • Fund Family Name Pioneer Investments
  • Inception Date Apr 29, 2011
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Seth Roman

Fund Description

Normally, the fund invests at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in floating rate instruments of U.S. and non-U.S. issuers, including: senior secured loans and second lien or other subordinated or unsecured loans; debt issued by banks and other corporate, governmental and non-governmental entities; corporate bonds; mortgage-backed and asset-backed securities; event-linked bonds and other insurance-linked securities; and preferred stock.

MAFRX - Performance

Return Ranking - Trailing

Period MAFRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 0.7% -8.1% 202.4% 37.17% 3
1 Yr 1.7% -12.6% 13.2% 72.18% 4
3 Yr 1.0% * -5.8% 8.5% 77.39% 4
5 Yr 1.4% * -2.8% 9.4% 80.92% 5
10 Yr N/A * -1.7% 9.8% N/A N/A

* Annualized


Return Ranking - Calendar

Period MAFRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -0.7% -33.0% 3.0% 7.86% 1
2014 -0.5% -9.3% 14.9% 45.72% 4
2013 -0.2% -24.1% 40.4% 7.93% 1
2012 1.2% -100.0% 18.7% 49.53% 4
2011 N/A -20.6% 15.5% N/A N/A

Total Return Ranking - Trailing

Period MAFRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 0.7% -7.3% 205.2% 47.62% 3
1 Yr -0.8% -12.6% 16.3% 86.79% 5
3 Yr 0.1% * -7.2% 8.5% 89.26% 5
5 Yr 0.8% * -3.7% 9.4% 86.86% 5
10 Yr N/A * -1.7% 9.8% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period MAFRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -0.7% -32.5% 4.5% 24.36% 2
2014 -0.5% -8.3% 16.8% 63.05% 5
2013 -0.2% -12.9% 58.5% 19.19% 2
2012 1.2% -100.0% 35.2% 65.35% 5
2011 N/A -20.7% 18.1% N/A N/A

NAV & Total Return History

MAFRX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

MAFRX Category Low Category High MAFRX % Rank Quintile
Net Assets 2.78 B 319 K 176 B 6.87% 2
Number of Holdings 1490 1 17569 2.95% 1
Net Assets in Top 10 203 M -36 B 21.3 B 10.83% 3
Weighting of Top 10 7.6% 0.0% 1093.9% 29.86% 5

Top 10 Holdings

  1. US Treasury Note 0.612% 1.69%
  2. US Treasury Note 0.53% 1.68%
  3. US Treasury Note 0.508% 1.18%
  4. Harris Cnty Tex Health Facs De Var 0.51% 0.79%
  5. Zero% 30nov20 0.45%
  6. FNMA CMO 0.41%
  7. Mississippi Busn Fin Corp Var Rate 0.48% 0.40%
  8. Geisinger Auth 0.42% 0.37%
  9. Chase Issuance Tr 2015-6a FRN 0.29%
  10. Mckesson Corp New 1.292% 0.29%

Asset Allocation

Weighting Category Low Category High MAFRX % Rank Quintile
Bonds
90.51% -175.98% 192.68% 16.63% 4
Cash
7.71% -96.63% 275.92% 10.83% 2
Other
1.78% -30.71% 98.36% 7.38% 2
Convertible Bonds
0.00% 0.00% 12.73% 5.65% 4
Preferred Stocks
0.00% -0.45% 17.13% 7.27% 4
Stocks
0.00% -3.27% 98.09% 5.75% 4

Bond Sector Breakdown

Weighting Category Low Category High MAFRX % Rank Quintile
Securitized
52.61% 0.00% 105.84% 3.26% 1
Corporate
30.31% 0.00% 221.70% 18.97% 4
Cash & Equivalents
7.46% -63.55% 416.01% 10.73% 2
Government
4.94% -389.49% 128.09% 23.45% 4
Municipal
2.20% 0.00% 105.76% 6.05% 1
Derivative
0.00% -513.07% 38.63% 2.34% 3

Bond Geographic Breakdown

Weighting Category Low Category High MAFRX % Rank Quintile
US
75.58% -370.09% 180.29% 17.75% 3
Non US
14.93% -45.82% 351.70% 11.70% 2

MAFRX - Expenses

Operational Fees

MAFRX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.63% 0.00% 42.51% 11.50% 2
Management Fee 0.32% 0.00% 2.15% 3.41% 2
12b-1 Fee 0.20% 0.00% 1.00% 2.22% 2
Administrative Fee N/A 0.00% 0.63% N/A N/A

Sales Fees

MAFRX Fees (% of AUM) Category Low Category High MAFRX Rank Quintile
Front Load 2.50% 0.00% 5.75% 3.87% 2
Deferred Load N/A 0.15% 5.50% N/A N/A

Trading Fees

MAFRX Fees (% of AUM) Category Low Category High MAFRX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

MAFRX Fees (% of AUM) Category Low Category High MAFRX Rank Quintile
Turnover 58.00% 0.00% 1856.00% 12.52% 2

MAFRX - Distributions

Dividend Yield Analysis

MAFRX Category Low Category High MAFRX % Rank Quintile
Dividend Yield 0.1% 0.00% 1.30% 27.00% 4

Dividend Distribution Analysis

MAFRX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

MAFRX Category Low Category High MAFRX % Rank Quintile
Net Income Ratio 1.01% -1.76% 17.13% 18.88% 5

Capital Gain Distribution Analysis

MAFRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency N/A Annually Daily Annually

MAFRX - Managers

Seth Roman

Manager

Start Date

Apr 29, 2011

Tenure

5.51

Tenure Rank

5.0%

Roman is supported by the fixed income team. Members of this team manage other Pioneer funds investing primarily in fixed income securities. He joined Pioneer as a portfolio manager in March 2006 and has been an investment professional for over 10 years. Prior to joining Pioneer, he was a fixed income trader for Fidelity Management and Research Company.


Jonathan Sharkey

Manager

Start Date

Apr 29, 2011

Tenure

5.51

Tenure Rank

5.0%

Sharkey is a vice president, joined Pioneer in August 2006. From March 2004 to August 2006, he was employed by Putnam Investments as a corporate bond and leveraged loan analyst. Prior to that, Sharkey was a principal and leveraged loan analyst at Cypress Tree Investments.


Charles Melchreit

Manager

Start Date

Apr 29, 2011

Tenure

5.51

Tenure Rank

5.0%

Melchreit is Vice president, and he joined Pioneer in 2006. From 2003 to 2004 he was a Managing Director at Cigna Investment Management. Prior thereto, Melchreit was a Senior Vice President and Portfolio Manager at Aeltus Investment Management.


Tenure Analysis

Category Low

0.0

Category High

27.9

Category Average

6.07

Category Mode

4.8