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MAFRX Pioneer Multi-Asset Ultrashort Income A

  • Fund
  • MAFRX
  • Price as of: Jul 19, 2019
  • $9.93 - $0.00 - 0.00%
  • Category
  • Total Bond Market

MAFRX - Profile

Vitals

  • YTD Return 0.5%
  • 3 Yr Annualized Return -0.1%
  • 5 Yr Annualized Return -0.3%
  • Net Assets $5.74 B
  • Holdings in Top 10 5.3%

52 WEEK LOW AND HIGH

$9.93
$9.88
$9.96

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.59%

SALES FEES

  • Front Load 2.50%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 61.00%

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 0.5%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return -0.3%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.58%
DIVIDENDS
  • Dividend Yield 0.0%
  • 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: mortgage-backed and asset-backed securities; 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; 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 (%)
YTD 0.5% -3.8% 13.0% 95.14%
1 Yr -0.2% -10.0% 8.4% 92.12%
3 Yr -0.1%* -4.2% 4.6% 46.80%
5 Yr -0.3%* -8.5% 23.6% 53.92%
10 Yr N/A* -7.3% 26.2% N/A

* Annualized


Return Ranking - Calendar

Period MAFRX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.8% -22.2% 3.1% 14.69%
2017 -0.2% -5.1% 25.1% 84.08%
2016 0.4% -8.5% 192.8% 55.27%
2015 -0.7% -33.0% 3.0% 12.89%
2014 -0.5% -29.8% 32.1% 72.14%

Total Return Ranking - Trailing

Period MAFRX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -3.8% 13.0% 95.21%
1 Yr -0.2% -10.0% 9.9% 94.28%
3 Yr -0.1%* -4.2% 6.8% 61.87%
5 Yr -0.3%* -8.2% 28.6% 69.96%
10 Yr N/A* -7.3% 26.4% N/A

* Annualized


Total Return Ranking - Calendar

Period MAFRX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.8% -22.2% 7.9% 22.44%
2017 -0.2% -4.6% 25.1% 87.01%
2016 0.4% -4.1% 204.3% 66.09%
2015 -0.7% -32.4% 4.2% 25.16%
2014 -0.5% -29.8% 32.1% 78.68%

NAV & Total Return History

MAFRX - Holdings

Concentration Analysis

MAFRX Category Low Category High MAFRX % Rank
Net Assets 5.74 B 330 K 229 B 18.09%
Number of Holdings 1624 3 17343 12.83%
Net Assets in Top 10 305 M -28.8 B 32.2 B 42.09%
Weighting of Top 10 5.29% 4.0% 1674.7% 98.80%

Top 10 Holdings

  1. United States Treasury Notes 0.12% 1.37%

  2. United States Treasury Notes 0.04% 0.76%

  3. United States Treasury Notes 0.04% 0.54%

  4. United States Treasury Notes 0.03% 0.50%

  5. Zero% 31dec22 0.37%

  6. Springcastle I Spv Llc 3.05% 0.36%

  7. TRILLIUM CREDIT CARD TRUST II 0.48% 0.35%

  8. MARLETTE FUNDING TRUST 3.13% 0.35%

  9. BSPRT 2018-FL3 Issuer Ltd 1.05% 0.35%

  10. DLL LLC 3.14% 0.34%


Asset Allocation

Weighting Return Low Return High MAFRX % Rank
Bonds
94.50% 0.00% 394.27% 55.98%
Cash
4.97% -539.21% 70.47% 38.83%
Convertible Bonds
0.53% 0.00% 18.42% 51.86%
Stocks
0.00% -3.42% 96.77% 63.96%
Preferred Stocks
0.00% 0.00% 20.33% 68.48%
Other
0.00% -98.58% 236.55% 58.71%

Bond Sector Breakdown

Weighting Return Low Return High MAFRX % Rank
Securitized
63.80% 0.00% 103.00% 9.11%
Corporate
26.65% 0.00% 127.23% 71.54%
Government
3.56% -74.72% 316.66% 81.91%
Cash & Equivalents
2.47% -532.79% 70.33% 52.46%
Derivative
0.00% -234.33% 48.69% 53.19%
Municipal
0.00% 0.00% 102.07% 81.12%

Bond Geographic Breakdown

Weighting Return Low Return High MAFRX % Rank
US
78.29% 0.00% 219.16% 65.82%
Non US
16.21% -41.14% 244.34% 27.86%

MAFRX - Expenses

Operational Fees

MAFRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.59% 0.00% 38.42% 75.98%
Management Fee 0.31% 0.00% 2.15% 28.19%
12b-1 Fee 0.20% 0.00% 1.00% 21.30%
Administrative Fee N/A 0.00% 0.63% N/A

Sales Fees

MAFRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.50% 0.50% 5.75% 67.78%
Deferred Load N/A 0.15% 5.50% N/A

Trading Fees

MAFRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% 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 Return Low Category Return High Rank in Category (%)
Turnover 61.00% 0.00% 2337.00% 38.19%

MAFRX - Distributions

Dividend Yield Analysis

MAFRX Category Low Category High MAFRX % Rank
Dividend Yield 0.02% 0.00% 8.86% 56.18%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

MAFRX Category Low Category High MAFRX % Rank
Net Income Ratio 2.58% -2.82% 7.22% 45.51%

Capital Gain Distribution Analysis

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

MAFRX - Managers

Seth Roman

Manager

Start Date

Tenure

Tenure Rank

Apr 29, 2011

8.18

8.2%

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

Tenure

Tenure Rank

Apr 29, 2011

8.18

8.2%

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.


Nicolas Pauwels

Manager

Start Date

Tenure

Tenure Rank

Jun 08, 2018

1.06

1.1%

Mr. Pauwels, Vice President of Amundi Pioneer, joined Amundi Pioneer in 2006.


Noah Funderburk

Manager

Start Date

Tenure

Tenure Rank

Jun 08, 2018

1.06

1.1%

Noah Funderburk is a Vice President, Portfolio Manager, and member of the Securitized Assets team at Amundi Pioneer. Based in Boston, he is responsible for the portfolio management of securitized credit strategies. He specializes in non-agency residential mortgage-backed securities and emerging sectors such as agency credit risk transfer securities and single family rental securities.


Tenure Analysis

Category Low

0.0

Category High

30.51

Category Average

6.95

Category Mode

7.12