Seeking Income in a Period of Interest Rate Volatility

 

Pioneer Multi-Asset Ultrashort Income Fund

Pioneer Multi Asset Ultrashort Income Fund (MAUI) seeks a high level of current income to the extent consistent with a relatively high level of stability of principal.  Normally, the Fund invests at least 80% of its net assets in floating rate instruments of US and non-US issuers (floating rate instruments may include adjustable rate securities and fixed rate securities with durations of less than or equal to one year).  The Fund’s benchmark is the ICE BofA US 3-Month Treasury Bill Index.

Overall Y Share Morningstar RatingTM

(out of 204 funds in the Ultrashort Bond Category)

Morningstar Proprietary Risk-Adjusted Ratings Performance as of 6/30/2024 
For more information about Morningstar Star RatingsTM including methodology, visit our  Strength Across the Board  page. 

Out of 133 share classes and 46 portfolios. Based on historical risk-adjusted returns of Class K shares, relative to peers as of 11/30/23. Please see below for additional LSEG Lipper information. LSEG Lipper Fund Awards. 

Low yields and interest rate volatility have caused investors to seek new alternatives for short-term income. While it is not a money market fund, Pioneer Multi-Asset Ultrashort Income Fund offers flexibility and diversification1 in a short duration2 strategy.

  • Enhanced Income Potential  – For investors willing to take on additional market risk, the Fund pursues returns in excess of money market funds, offering a broader range of income opportunities to enhance total return (download the full PDF for details).
  • Short Duration  – Invests in floating rate and fixed rate securities with short durations. Floating rate securities offer a variable interest rate that is reset periodically. The Fund's short duration strategy seeks to help protect investors from interest rate risk. 
  • High Quality – Has an overall high credit profile.

 

Learn more about Mutli-Asset Ultrashort Income Fund

   

Fund Overview
Sector Allocation Chart
Fund Commentary
Amundi US Short Duration Funds

  

Multi-Asset Ultrashort Income Fund - Overview

1 Diversification does not assure a profit or protect against loss. 2 Duration is a measure of the sensitivity of the price (the value of principal) of a fixed income investment to a change in interest rates, expressed as a number of years.

Multi-Asset Ultrashort Income Fund Performance

About the LSEG Lipper Fund Awards as of 3/31/2024
Rank/Universe among Lipper Ultra-Short Obligations Funds Classification

 

1-Year

3-Year

5-Year

10-Year

Pioneer Multi-Asset Ultrashort Income Fund K Share

2/158

1/146

5/130

1/75

The performance data quoted represents past performance, which is no guarantee of future results. Lipper rankings are based on average annual total returns for listed periods and do not reflect any applicable sales load. Rankings for other classes may vary. Source: Lipper.

The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers.

The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is an objective, quantitative, risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. For more information, see lipperfundawards.com. Although LSEG Lipper makes reasonable efforts to ensure the accuracy and reliability of the data used to calculate the awards, their accuracy is not guaranteed.

A Word About Risk: Pioneer Multi-Asset Ultrashort Income Fund

The market prices of securities may go up or down, sometimes rapidly or unpredictably, due to general market conditions, such as real or perceived adverse economic, political, or regulatory conditions, recessions, inflation, changes in interest or currency rates, lack of liquidity in the bond markets, the spread of infectious illness or other public health issues or adverse investor sentiment. All investments are subject to risk, including the possible loss of principal. Pioneer Multi-Asset Ultrashort Income (“MAUI”) Fund has the ability to invest in a wide variety of debt securities. The Fund may invest in underlying funds, including ETFs. In addition to the Fund’s operating expenses, you will indirectly bear the operating expenses of investments in any underlying funds. The Fund and some of the underlying funds employ leverage, which increases the volatility of investment returns and subjects the Fund to magnified losses if an underlying fund’s investments decline in value. The Fund may use derivatives, such as options, futures, inverse floating rate obligations, swaps, and others, which can be illiquid, may disproportionately increase losses, and have a potentially large impact on Fund performance. The Fund may invest in credit default swaps, which may in some cases be illiquid, and they increase credit risk since the fund has exposure to both the issuer of the referenced obligation and the counterparty to the credit default swap. The Fund may invest in subordinated securities which may be disproportionately adversely affected by a default or even a perceived decline in creditworthiness of the issuer. The Fund may invest in floating rate loans. The value of collateral, if any, securing a floating rate loan can decline or may be insufficient to meet the issuer’s obligations or may be difficult to liquidate. The Fund may invest in insurance-linked securities (ILS). The Fund could lose a portion or all of the principal it has invested in an ILS, and the right to additional interest and/or dividend payments with respect to the security, upon the occurrence of a trigger event that leads to physical or economic loss. ILS may expose the Fund to issuer (credit) default, liquidity, and other risks The Fund may invest in zero-coupon bonds and payment in kind securities, which may be more speculative and fluctuate more in value than other fixed income securities. The accrual of income from these securities are payable as taxable annual dividends to shareholders. Investments in equity securities are subject to price fluctuation. International investments are subject to special risks including currency fluctuations, social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. Investments in fixed income securities involve interest rate, credit, inflation, and reinvestment risks. As interest rates rise, the value of fixed income securities falls. The Fund may invest in mortgage-backed securities, which during times of fluctuating interest rates may increase or decrease more than other fixed-income securities. Mortgage-backed securities are also subject to pre-payments. Prepayment risk is the chance that an issuer may exercise its right to prepay its security, if falling interest rates prompt the issuer to do so. Forced to reinvest the unanticipated proceeds at lower interest rates, the Fund would experience a decline in income and lose the opportunity for additional price appreciation. High yield bonds possess greater price volatility, illiquidity, and possibility of default. There may be insufficient or illiquid collateral securing the floating rate loans held within the Fund. This may reduce the future redemption or recovery value of such loans. The Fund may have disadvantaged access to confidential information that could be used to assess a loan issuer, as Amundi US normally seeks to avoid receiving material, non-public information. Multi-Asset Ultrashort Income Fund is not a money market fund. These risks may increase share price volatility. There is no assurance that these and other strategies used by the Fund or underlying funds will be successful. Please see the prospectus for a more complete discussion of the Fund’s risks.

Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your financial professional or Amundi US for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it from our  literature section.

Securities offered through Amundi Distributor US, Inc.
60 State Street, Boston, MA 02109
Underwriter of Pioneer mutual funds, Member   SIPC.   

Not FDIC insured | May lose value | No bank guarantee Amundi Asset Management US, Inc.  Form CRS         Amundi Distributor US, Inc.  Form CRS 

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