A Flexible Core Equity Strategy Pursuing Sustainable Growth

¹Out of 536 (3-Year) and 486 (5-Year) Lipper Large-Cap Core Funds Classification. Based on historical risk-adjusted returns of Class Y shares, relative to peers as of 11/30/2020. For more information about Lipper Fund Awards from Refinitiv, including methodology please see Pioneer Fund Lipper Awards Flyer

Refinitiv Lipper Fund Awards United States 2021. ©2021 Refinitiv. All rights reserved. Used under license.

A Track Record of Responsible Investing that Spans Over 90 Years

Since the Fund’s inception in 1928, we have invested in quality, sustainable businesses - from both a competitive and ESG perspective - that provide useful goods and services to society.

Socially Responsible Investing For over 60 years, the portfolio managers have applied socially responsible investment screens to avoid tobacco, alcohol and gambling stocks. Companies that seek to achieve favorable outcomes for diverse stakeholders - beyond solely focusing on the bottom line - provide investors with the opportunity for enduring returns through a range of market environments.	Managing Risk Fund managers focus on quality value and growth companies that offer a strong business model, sustainable competitive advantages and shareholder orientation. By targeting equities at prices below intrinsic value, we seek to limit downside risk. This helps us pursue the best opportunities for risk-adjusted returns over time.	Qualitative Research The Fund seeks to include securities which offer attractive risk/reward ratio through analysis of industry structure, business outlook and financials. Focuses include profitability and growth, sustainable competitive advantages, and shareholder-friendly activity.

Active Management Outperformed Over The Long Term

Pioneer Fund has helped investors pursue their goals for  over 90 years —through wars, recessions and a long list of other market highs and lows. In addition, the Fund has outpaced the popular investments shown here, as well as inflation, since its inception.   Download PDF

Overall Y Share Morningstar RatingTM (out of 1,245 funds in the Large Blend Category)

Morningstar Sustainability RatingsTM (out of 1,509 funds in the Large Blend Category Based on 99.54% of AUM)

Morningstar Proprietary Risk-Adjusted Ratings Performance as of 2/28/2021 
Morningstar Sustainability Ratings as of 1/31/2021
For more information about Morningstar Star Ratings^TM, including methodology, visit our  Strength Across the Board  page. 
For more information about Morningstar Sustainability Ratings^TM, please visit our  Sustainability Ratings  page.

Average Annual Total Returns through 3/31/2021

Gross Expense Ratio (A): 1.04% | (Y): 0.81%. Net Expense Ratio (Y): 0.70%. The Net Expense Ratio reflects contractual expense limitations currently in effect through 5/1/2022 for Class Y Shares. There can be no assurance that Amundi US will extend the expense limitations beyond such time. Please see the prospectus and financial statements for more information.

Call 1-800-225-6292 or visit our  performance page  for the most recent month-end performance results. Current performance may be lower or higher than the performance data quoted. The performance data quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

With sales charge reflects deduction of maximum 5.75% sales charge. Performance without sales charge represents the percent change in net asset value per share. All results are historical and assume the reinvestment of dividends and capital gains. Other share classes are available for which performance and expenses will differ. Performance results reflect any applicable expense waivers in effect during the periods shown. Without such waivers fund performance would be lower. Waivers may not be in effect for all funds. Certain fee waivers are contractual through a specified period. Otherwise, fee waivers can be rescinded at any time. See the prospectus and financial statements for more information.

Past performance is no guarantee of future results.

While equity investments offer a higher rate of return, they may be more volatile and riskier than fixed income investments. Corporate bonds offer a fixed principal value and a fixed rate of return if held to maturity. Government bonds and Treasury securities are guaranteed as to the timely payment of interest and principal; corporate bonds are not.

Please note, these results are not usual and investors should not expect similar results. S&P 500 data shown combines a number of indices. The 90-stock Composite was calculated from 1926 through February 1957 when S&P introduced the S&P 500 stock average including 425 industrials, 25 rails and 50 utilities, weighting the index substantially in favor of the industrials. S&P did not calculate the 500-stock index prior to March 1957, but used the old 90-share index (as well as the old 50 industrials, 20 rails and 20 utilities indices) to extend the data back to 1928. Corporate bonds represented by the US Long-Term Corporate Bond Index, government bonds by the US Long-Term Government Bond Index; treasuries by the US 30-Day T-Bill Index and inflation by the Consumer Price Index, which is a general measure of inflation. Indices are unmanaged and their returns assume reinvestment of dividends and, unlike mutual fund returns, do not reflect any fees or expenses associated with a mutual fund. It is not possible to invest directly in an index. The chart was prepared by Amundi US and is hypothetical, for illustrative purposes only. It does not represent the results of an investor’s actual experience with the Fund.

Source: Morningstar, Amundi US. Pioneer Fund’s A shares did not have an initial sales charge at inception. The initial sales charge on the A shares has varied throughout the Fund’s history and has sometimes been higher than the current initial sales charge of 5.75%. Keep in mind, the since inception results for Pioneer Fund are not usual and investors should not expect similar results. The results cover a lengthy time period where the effects of holding the Fund shares for the entire period and compounding had a material impact on the Fund’s return. It is important to note that there are no shareholders remaining from the Fund’s inception in 1928.

Fund Facts

A Word About Risk

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. The Fund generally excludes corporate issuers that do not meet or exceed minimum ESG standards. Excluding specific issuers limits the universe of investments available to the Fund, which may mean forgoing some investment opportunities available to funds without similar ESG standards. At times, the Fund’s investments may represent industries or industry sectors that are interrelated or have common risks, making it more susceptible to any economic, political, or regulatory developments or other risks affecting those industries and sectors.

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.
(Formerly Amundi Pioneer Distributor, Inc.)
60 State Street, Boston, MA  02109
Underwriter of Pioneer mutual funds, Member  SIPC.  

Not FDIC insured | May lose value | No bank guarantee

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