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Name

As of 11/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Pioneer High Income Municipal Fund

HICMX | Fund

$6.25

$1.15 B

3.83%

$0.24

1.68%

Vitals

YTD Return

4.0%

1 yr return

8.7%

3 Yr Avg Return

-2.5%

5 Yr Avg Return

-0.6%

Net Assets

$1.15 B

Holdings in Top 10

17.9%

52 WEEK LOW AND HIGH

$6.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.68%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 24.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

$250

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Pioneer High Income Municipal Fund

HICMX | Fund

$6.25

$1.15 B

3.83%

$0.24

1.68%

HICMX - Profile

Distributions

  • YTD Total Return 4.0%
  • 3 Yr Annualized Total Return -2.5%
  • 5 Yr Annualized Total Return -0.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.84%
DIVIDENDS
  • Dividend Yield 3.8%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Pioneer High Income Municipal Fund
  • Fund Family Name
    The Pioneer Funds
  • Inception Date
    Oct 17, 2006
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Eurkus

Fund Description

Normally, the fund invests at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in debt securities and other obligations issued by or on behalf of states, counties, municipalities, territories and possessions of the United States and the District of Columbia and their authorities, political subdivisions, agencies and instrumentalities, the interest on which is exempt from regular federal income tax (“municipal securities”). Derivative instruments that provide exposure to municipal securities or have similar economic characteristics may be used to satisfy the fund’s 80% policy.Municipal securities are generally issued to finance public works such as airports, bridges, highways, housing, hospitals, mass transportation projects, schools and water and sewer works. Municipal securities may be issued to repay outstanding obligations, to raise funds for general operating expenses, or to make loans to other institutions and facilities. They also may be issued by or on behalf of public authorities to finance various privately operated facilities which are expected to benefit the municipality and its residents, such as business, manufacturing, housing, sports and pollution control, as well as public facilities such as airports, mass transit systems, ports and parking.The fund may invest in municipal securities of any maturity. Municipal securities with longer maturities are generally more volatile than other fixed income securities with shorter maturities. The fund may invest 25% or more of its assets in issuers in any one or more states or in the same economic sector or similar project type (such as projects relating to health care, education, transportation, and utilities).The fund primarily invests in “high yield” municipal obligations. “High yield”municipal obligations are commonly referred to as “junk bonds” and are considered speculative. For this purpose, “high yield” municipal obligations are municipal obligations rated at the time of purchase Ba or lower by Moody’s Investors Service, Inc. or BB or lower by Standard and Poor’s Ratings Group or unrated securities determined by the adviser to be of comparable credit quality. The fund may invest in securities in any rating category, including those in default, and in debtor-in-possession financings.Interest income from certain types of municipal obligations in which the fund may invest generally may be subject to the federal alternative minimum tax (the “AMT”). The fund may not be suitable for investors subject to the AMT. The rate of interest paid on municipal securities normally is lower than the rate of interest paid on taxable securities.The fund's investments may have fixed or variable principal payments and all types of interest rate payment and reset terms, including fixed and floating rates, inverse floating rate, zero coupon, contingent, deferred and payment in kind and auction rate features.The fund may, but is not required to, use derivatives, such as synthetic municipal securities, inverse floating rate obligations and credit default swaps. The fund may use derivatives for a variety of purposes, including: in an attempt to hedge against adverse changes in the market price of securities, interest rates or currency exchange rates; as a substitute for purchasing or selling securities; to attempt to increase the fund's return as a non-hedging strategy that may be considered speculative; to manage portfolio characteristics; and as a cash flow management technique. The fund may choose not to make use of derivatives for a variety of reasons, and any use may be limited by applicable law and regulations.The fund also may invest in subordinated securities, asset-backed securities of any rating, including collateralized debt obligations, and may hold cash or other short-term investments. The fund’s investments may include mortgage-backed instruments, the underlying assets of which allow for balloon payments (where a substantial portion of a mortgage loan balance is paid at maturity, which can shorten the average life of the mortgage-backed instrument) or negative amortization payments (where as a result of a payment cap, payments on a mortgage loan are less than the amount of principal and interest owed, with excess amounts added to the outstanding principal balance, which can extend the average life of the mortgage-backed instrument).The fund may invest up to 20% of its net assets in inverse floating rate obligations.The fund may invest up to 20% of its net assets in taxable investments, including securities of other investment companies (including mutual funds, exchange-traded funds and closed-end funds), commercial paper, U.S. government securities, U.S. or foreign bank instruments and repurchase agreements.The adviser considers both broad economic factors and issuer specific factors in selecting investments. In assessing the appropriate maturity and rating weighting of the fund's portfolio, the adviser considers a variety of factors that are expected to influence economic activity and interest rates. The adviser selects individual securities to buy and sell based upon such factors as a security’s yield, liquidity and rating, an assessment of credit quality, and issuer diversification.
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HICMX - Performance

Return Ranking - Trailing

Period HICMX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.0% -2.0% 12.4% 81.86%
1 Yr 8.7% 1.0% 18.7% 80.39%
3 Yr -2.5%* -8.8% 3.0% 90.05%
5 Yr -0.6%* -5.0% 3.8% 90.86%
10 Yr 2.0%* -0.4% 155.6% 80.62%

* Annualized

Return Ranking - Calendar

Period HICMX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.4% -6.2% 7.5% 98.04%
2022 -16.3% -26.9% -3.5% 34.83%
2021 2.9% -1.9% 5.6% 28.28%
2020 -2.1% -4.0% 4.2% 91.88%
2019 3.9% -0.7% 9.1% 87.96%

Total Return Ranking - Trailing

Period HICMX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.0% -2.0% 12.4% 81.86%
1 Yr 8.7% 1.0% 18.7% 80.39%
3 Yr -2.5%* -8.8% 3.0% 90.05%
5 Yr -0.6%* -5.0% 3.8% 90.86%
10 Yr 2.0%* -0.4% 155.6% 80.62%

* Annualized

Total Return Ranking - Calendar

Period HICMX Return Category Return Low Category Return High Rank in Category (%)
2023 2.8% -4.1% 10.9% 96.57%
2022 -13.4% -26.9% 4.3% 35.82%
2021 5.6% -1.9% 10.0% 43.94%
2020 -0.2% -2.6% 8.2% 94.42%
2019 8.1% -0.7% 1028633.9% 61.26%

NAV & Total Return History

HICMX - Holdings

Concentration Analysis

HICMX Category Low Category High HICMX % Rank
Net Assets 1.15 B 9.79 K 15.6 B 47.03%
Number of Holdings 322 1 3325 64.18%
Net Assets in Top 10 320 M -102 M 3.51 B 30.85%
Weighting of Top 10 17.86% 4.6% 98.8% 26.00%

Top 10 Holdings

  1. BUCKEYE OH TOBACCO SETTLEMENT REGD B/E 5.00000000 2.72%
  2. TOBACCO SETTLEMENT FING CORP V REGD OID B/E 5.00000000 2.49%
  3. NTHRN AK TOBACCO SECURITIZATIO REGD OID B/E 5.00000000 1.80%
  4. GOLDEN ST TOBACCO SECURITIZATI REGD B/E 5.00000000 1.78%
  5. ARKANSAS ST DEV FIN AUTH INDL REGD B/E AMT 4.50000000 1.72%
  6. MET PIER EXPOSITION AUTH IL REGD B/E 5.00000000 1.56%
  7. PUERTO RICO SALES TAX FING COR REGD OID B/E 5.00000000 1.50%
  8. PUERTO RICO CMWLTH REGD OID B/E /COMPLIANCE HOLD DO NOT UNDELETE/ 8.00000000 1.46%
  9. MET PIER EXPOSITION AUTH IL REGD B/E 5.00000000 1.41%
  10. HAMMOND IN ECON DEV REVENUE REGD B/E 7.50000000 1.40%

Asset Allocation

Weighting Return Low Return High HICMX % Rank
Bonds 		93.24% 0.00% 146.69% 88.73%
Cash 		6.76% -0.64% 100.00% 4.48%
Stocks 		0.00% 0.00% 99.62% 34.31%
Preferred Stocks 		0.00% -47.61% 0.00% 8.96%
Other 		0.00% -5.59% 5.07% 24.88%
Convertible Bonds 		0.00% 0.00% 0.00% 1.49%

Bond Sector Breakdown

Weighting Return Low Return High HICMX % Rank
Municipal 		50.68% 0.00% 100.00% 98.51%
Cash & Equivalents 		0.84% 0.00% 100.00% 26.37%
Corporate 		0.11% 0.00% 2.83% 44.78%
Derivative 		0.00% -7.53% 2.16% 16.92%
Securitized 		0.00% 0.00% 22.44% 6.97%
Government 		0.00% 0.00% 0.09% 5.97%

Bond Geographic Breakdown

Weighting Return Low Return High HICMX % Rank
US 		93.24% 0.00% 139.84% 86.07%
Non US 		0.00% 0.00% 13.35% 9.95%

HICMX - Expenses

Operational Fees

HICMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.68% 0.22% 3.44% 18.23%
Management Fee 0.48% 0.00% 1.41% 41.18%
12b-1 Fee 1.00% 0.00% 1.00% 76.15%
Administrative Fee N/A 0.02% 0.35% N/A

Sales Fees

HICMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load 1.00% 1.00% 4.00% 8.33%

Trading Fees

HICMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

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.

HICMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 24.00% 2.00% 121.00% 63.49%

HICMX - Distributions

Dividend Yield Analysis

HICMX Category Low Category High HICMX % Rank
Dividend Yield 3.83% 0.00% 5.94% 50.00%

Dividend Distribution Analysis

HICMX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

HICMX Category Low Category High HICMX % Rank
Net Income Ratio 2.84% 1.11% 5.44% 68.63%

Capital Gain Distribution Analysis

HICMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

HICMX - Fund Manager Analysis

Managers

David Eurkus

Start Date

Tenure

Tenure Rank

Oct 16, 2006

15.63

15.6%

David J. Eurkus is Managing Director, Portfolio Manager and Director of Municipals at Amundi Pioneer. He is a Portfolio Manager on open-end and closed-end national high yield municipal bond and national investment grade municipal bond strategies. He also leads the Municipals team based in Boston. Prior to joining Amundi Pioneer, David was a Senior Vice President and Portfolio Manager at Brown Brothers Harriman, where he managed municipal bond portfolios. Previously, he served as a Senior Vice President and Senior Portfolio Manager at Putnam Investments, where he managed several tax-exempt mutual funds.

Jonathan Chirunga

Start Date

Tenure

Tenure Rank

May 17, 2013

9.04

9.0%

Jonathan M. Chirunga, Senior Vice President, Portfolio Manager, and member of the Municipals team, at Amundi Pioneer. He is a Portfolio Manager on open-end and closed-end national high yield municipal bond and national investment grade municipal bond strategies. Prior to joining Amundi Pioneer, Jonathan spent ten years at T. Rowe Price as a Municipal Credit Analyst covering municipal debt offerings for transportation, charter schools, tax allocation bonds, land-based real estate bonds, project finance bonds, including public-private partnerships, and tax-backed debt in the southeastern and central regions of the United States, providing buy, sell, and hold recommendations for a range of municipal bond funds. He also spent three years as a Municipal Credit Analyst at Standard & Poor’s, covering municipal debt offerings for Indian Gaming and other bond offerings backed by revenues related to Indian sovereignties, charter schools, tax allocation bonds, land-based real estate bonds, and tax-backed debt in the western region of the United States. Prior to Standard & Poor’s, Mr. Chirunga served as a Corporate Credit Analyst at Hewlett Packard Company, and was responsible for establishing credit for the company’s top 75 value-added resellers.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 21.43 7.55 2.52

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