PHYSX Performance — PIA High Yield Fund, Institutional Class
Data updated: 2026-07-24
PHYSX returned +1.61% year to date and +4.75% over one year to May 2026. Annualised returns are +7.46% over 3 years and +3.84% over 5 years. The fund trailed its High Yield Bond category average: $100 invested three years ago grew to $124, against $126 for the category, and to $105 over one year, against $107. Volatility over the past three years was 4.33% a year. In the 12 months to May 2026 the fund took in a net $8.8M, and assets reached $96.08M.
PHYSX Growth of $100
What $100 invested in PIA High Yield Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the High Yield Bond category average over the same months.
| Period | PHYSX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $105 | $107 |
| 3 years (Jun 2023 – May 2026) | $124 | $126 |
| 5 years (Jun 2021 – May 2026) | $121 | $120 |
| Since data start (Mar 2020 – May 2026) | $137 | $130 |
PHYSX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.61% |
| 1 year | +4.75% |
| 3 years (annualised) | +7.46% |
| 5 years (annualised) | +3.84% |
PHYSX Annual Returns
Calendar-year total returns of PIA High Yield Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.61% |
| 2025 | +1.83% |
| 2024 | +10.32% |
| 2023 | +15.57% |
| 2022 | −11.15% |
| 2021 | +7.36% |
| 2020 (Mar–Dec) | +9.03% |
PHYSX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.8% | −0.8% | −1.2% | +2.0% | +0.9% | — | — | — | — | — | — | — |
| 2025 | +0.7% | −0.2% | −2.0% | −1.6% | +1.9% | +2.0% | +0.6% | +0.8% | +0.4% | −1.4% | 0.0% | +0.5% |
| 2024 | +0.6% | +0.5% | +1.7% | −0.1% | +0.8% | +1.0% | +1.3% | +1.2% | +1.3% | +0.2% | +1.4% | 0.0% |
| 2023 | +3.6% | +0.1% | +1.4% | +1.8% | −0.7% | +1.6% | +1.6% | +0.6% | −0.4% | −1.6% | +3.6% | +3.1% |
| 2022 | −1.6% | −1.3% | −0.8% | −2.7% | −1.8% | −5.9% | +4.0% | +0.1% | −4.0% | +2.3% | +0.6% | −0.3% |
| 2021 | +0.7% | +1.1% | +0.9% | +1.1% | +0.3% | +1.4% | +0.3% | +0.5% | +0.3% | −0.3% | −1.0% | +1.8% |
| 2020 | — | — | −14.2% | +1.3% | +6.0% | +4.1% | +3.7% | +2.2% | 0.0% | +0.8% | +4.1% | +2.3% |
PHYSX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 4.33%
- 3-year Sharpe ratio: 0.68 (vs 4.5% risk-free rate)
- Best month: +3.60% (Nov 2023)
- Worst month: −2.00% (Mar 2025)
PHYSX Fund Flows
Monthly money in and out of PIA High Yield Fund, from SEC Form N-PORT.
- 12-month net flow: $8.8M
- 12-month gross sales (incl. reinvestments): $33.3M
- Sales ÷ redemptions: 1.36×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $1.7M | $1.5M | $275K |
| Apr 2026 | $4.6M | $791K | $3.8M |
| Mar 2026 | $1.2M | $1.6M | −$459K |
| Feb 2026 | $1.1M | $1.1M | −$89K |
| Jan 2026 | $1.6M | $2.7M | −$1.1M |
| Dec 2025 | $1.7M | $1.5M | $198K |
| Nov 2025 | $1.5M | $1.4M | $109K |
| Oct 2025 | $1.3M | $5.2M | −$3.9M |
| Sep 2025 | $7.4M | $1.4M | $6.0M |
| Aug 2025 | $5.2M | $5.2M | $21K |
| Jul 2025 | $4.4M | $1.3M | $3.1M |
| Jun 2025 | $1.6M | $741K | $822K |
PHYSX Assets Under Management
Net assets of PIA High Yield Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $96.08M |
| 2026-02-28 | $92.58M |
| 2025-11-30 | $95.07M |
| 2025-08-31 | $95.82M |
| 2025-05-31 | $90.55M |
| 2025-02-28 | $94.16M |
| 2024-11-30 | $93.68M |
| 2024-08-31 | $61.55M |
| 2024-05-31 | $61.99M |
| 2024-02-29 | $63.26M |
| 2023-11-30 | $59.00M |
| 2023-08-31 | $56.67M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.