Pioneer High Yield Fund
Data updated: 2025-03-25
C000011134 — Pioneer High Yield Fund. Short Corporate Bond · $558.45M AUM · 1.10% expense ratio. Holdings, fees, performance and SEC filings.
C000011134 Fund Overview
Pioneer High Yield Fund is a US mutual fund managed by Pioneer High Yield Fund, categorised as Short Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Pioneer High Yield Fund
- Category: Short Corporate Bond
- Assets under management: $558.45M
- 1-year return: 9.2%
- SEC CIK: 0001094521
- SEC series ID: S000003994
- Share class ID: C000011134
C000011134 Investment Objective and Strategy
Pioneer High Yield Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Pioneer High Yield Fund.
Investment objective
Maximize total return through a combination of income and capital appreciation.
Principal investment strategy
"Normally, the fund invests at least 80% of its total assets in below investment grade (high yield) debt securities and preferred stocks. Derivative instruments that provide exposure to such high yield debt securities and preferred stock or have similar economic characteristics may be used to satisfy the fund's 80% policy. Debt securities rated below investment grade are commonly referred to as ""junk bonds"" and are considered speculative. The fund may invest in high yield securities of any rating, including securities where the issuer is in default or bankruptcy at the time of purchase. The fund invests in securities with a broad range of maturities. The fund's investments may have fixed or variable principal payments and all types of interest rate and dividend payment and reset terms, including fixed rate, adjustable rate, floating rate, zero coupon, contingent, deferred, payment in kind and auction rate features.
The fund's investments may include instruments that allow for balloon payments or negative amortization payments. The fund may invest in investment grade and below investment grade convertible bonds and preferred stocks that are convertible into the equity securities of the issuer. The fund may invest up to 20% of its net assets in inverse floating rate obligations (a type of derivative instrument). The fund may invest up to 20% of its net assets in common stock and other equity investments, such as funds that invest primarily in equity securities, depositary receipts, warrants, rights and equity interests in real estate investment trusts (REITs). The fund may invest up to 15% of its total assets in securities of non-U.S. issuers. The fund may invest a portion of its assets in mortgage-related securities, including ""sub-prime"" mortgages, and asset-backed securities.
The fund also may invest a portion of its assets in floating rate loans, subordinated debt securities, event-linked bonds and other insurance-linked securities. The fund may, but is not required to, use derivatives. The fund may use derivatives, such as credit default swaps and bond and interest rate futures, 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 may hold cash or other short-term investments. The fund's investment adviser uses a value approach to select investments to buy and sell. The adviser seeks to identify securities that are selling at reasonable prices or substantial discounts to their underlying values and then holds these securities for their incremental yields or until the market values reflect their intrinsic values. The adviser evaluates a security's potential value, including the attractiveness of its market valuation, based on the company's assets and prospects for earnings growth. In making that assessment, the adviser employs fundamental research and an evaluation of the issuer based on its financial statements and operations. The adviser also considers a security's potential to provide income."
C000011134 Holdings
Top 10 holdings of Pioneer High Yield Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Treasury Bill | 3.58% |
| US Acute Care Solutions | 1.18% |
| Cco Hldgs Llc/cap Corp. | 1.15% |
| Olympus Wtr US Hldg Corp. | 1.13% |
| Taseko Mines Ltd. | 1.09% |
| Dreyfus Government Cash Management | 1.07% |
| Tronox, Inc. | 1.05% |
| Trinity Industries, Inc. | 1.05% |
| Owens & Minor, Inc. | 1.02% |
| Baytex Energy Corp. | 1.00% |
C000011134 Portfolio Allocation
Asset-class allocation of Pioneer High Yield Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 95.1% |
| Loans | 1.4% |
| Cash & Equivalents | 1.1% |
| Equity | 0.8% |
C000011134 Performance
Total returns for C000011134 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 9.2% |
| 3 years (annualised) | 3.4% |
| 5 years (annualised) | 3.3% |
C000011134 Risk Information
Risk metrics for C000011134, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.9%
C000011134 Costs and Fees
C000011134 costs about $110 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.10%
- Gross expense ratio: 1.18%
- Portfolio turnover: 60%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000011134 Cashflows
Over the 12 months to 2025-01, Pioneer High Yield Fund had net outflows of $46.59M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-01 | −$8.18M |
| 2024-12 | −$11.94M |
| 2024-11 | −$4.69M |
| 2024-10 | −$5.95M |
| 2024-09 | −$1.07M |
| 2024-08 | −$7.05M |
C000011134 Debt Constituents
Largest debt holdings of Pioneer High Yield Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Treasury Bill | 3.58% |
| US Acute Care Solutions | 1.18% |
| Cco Hldgs Llc/cap Corp. | 1.15% |
| Olympus Wtr US Hldg Corp. | 1.13% |
| Taseko Mines Ltd. | 1.09% |
| Tronox, Inc. | 1.05% |
| Trinity Industries, Inc. | 1.05% |
| Owens & Minor, Inc. | 1.02% |
| Baytex Energy Corp. | 1.00% |
| First Quantum Minerals L | 0.95% |
C000011134 Prospectus and SEC Filings
Official Pioneer High Yield Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-02-27
- Prospectus (485BPOS) — filed 2024-02-27
- Prospectus (485BPOS) — filed 2023-02-24
- Portfolio holdings (N-PORT) — filed 2025-03-25
- Portfolio holdings (N-PORT) — filed 2024-12-19
- Portfolio holdings (N-PORT) — filed 2024-09-23
- Annual census (N-CEN) — filed 2025-01-10
- Annual census (N-CEN) — filed 2024-01-12
Related Funds
Other Short Corporate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.