PIAMX Performance — PIA High Yield MACS Fund
Data updated: 2026-07-24
PIAMX returned +1.83% year to date and +5.27% over one year to May 2026. Annualised returns are +8.25% over 3 years and +4.52% over 5 years. Against its High Yield Bond category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $127, against $126 for the category, and to $105 over one year, against $107. Volatility over the past three years was 4.41% a year. In the 12 months to May 2026 the fund took in a net $11.8M, and assets reached $183.83M.
PIAMX Growth of $100
What $100 invested in PIA High Yield MACS 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 | PIAMX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $105 | $107 |
| 3 years (Jun 2023 – May 2026) | $127 | $126 |
| 5 years (Jun 2021 – May 2026) | $125 | $120 |
| Since data start (Mar 2020 – May 2026) | $143 | $130 |
PIAMX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.83% |
| 1 year | +5.27% |
| 3 years (annualised) | +8.25% |
| 5 years (annualised) | +4.52% |
PIAMX Annual Returns
Calendar-year total returns of PIA High Yield MACS Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.83% |
| 2025 | +2.34% |
| 2024 | +11.23% |
| 2023 | +16.38% |
| 2022 | −10.32% |
| 2021 | +7.82% |
| 2020 (Mar–Dec) | +9.86% |
PIAMX 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% | −0.6% | −1.2% | +2.1% | +0.8% | — | — | — | — | — | — | — |
| 2025 | +0.8% | −0.2% | −2.1% | −1.5% | +2.0% | +2.0% | +0.7% | +0.9% | +0.5% | −1.3% | +0.1% | +0.6% |
| 2024 | +0.6% | +0.5% | +1.7% | 0.0% | +0.9% | +1.1% | +1.3% | +1.4% | +1.4% | +0.1% | +1.4% | +0.3% |
| 2023 | +3.9% | 0.0% | +1.3% | +1.9% | −0.8% | +2.2% | +1.8% | +0.6% | −0.7% | −1.5% | +3.5% | +3.2% |
| 2022 | −1.5% | −1.2% | −0.7% | −2.5% | −1.9% | −5.9% | +4.1% | −0.2% | −3.6% | +2.2% | +1.2% | −0.3% |
| 2021 | +0.8% | +1.1% | +0.9% | +1.2% | +0.4% | +1.3% | +0.3% | +0.5% | +0.4% | −0.3% | −0.9% | +1.8% |
| 2020 | — | — | −12.7% | +1.7% | +5.6% | +3.0% | +3.8% | +2.0% | +0.1% | +0.9% | +4.1% | +2.2% |
PIAMX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 4.41%
- 3-year Sharpe ratio: 0.85 (vs 4.5% risk-free rate)
- Best month: +3.55% (Nov 2023)
- Worst month: −2.05% (Mar 2025)
PIAMX Fund Flows
Monthly money in and out of PIA High Yield MACS Fund, from SEC Form N-PORT.
- 12-month net flow: $11.8M
- 12-month gross sales (incl. reinvestments): $22.5M
- Sales ÷ redemptions: 2.11×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $1.2M | $201K | $965K |
| Apr 2026 | $1.9M | $385K | $1.5M |
| Mar 2026 | $1.5M | $6.0M | −$4.5M |
| Feb 2026 | $1.4M | $322K | $1.1M |
| Jan 2026 | $2.3M | $129K | $2.1M |
| Dec 2025 | $2.3M | $1.1M | $1.2M |
| Nov 2025 | $2.6M | $98K | $2.5M |
| Oct 2025 | $2.3M | $55K | $2.2M |
| Sep 2025 | $1.4M | $963K | $471K |
| Aug 2025 | $2.0M | $418K | $1.5M |
| Jul 2025 | $1.6M | $898K | $742K |
| Jun 2025 | $2.0M | $146K | $1.9M |
PIAMX Assets Under Management
Net assets of PIA High Yield MACS Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $183.83M |
| 2026-02-28 | $186.25M |
| 2025-11-30 | $184.62M |
| 2025-08-31 | $184.96M |
| 2025-05-31 | $178.21M |
| 2025-02-28 | $180.60M |
| 2024-11-30 | $177.85M |
| 2024-08-31 | $172.76M |
| 2024-05-31 | $169.60M |
| 2024-02-29 | $153.75M |
| 2023-11-30 | $148.64M |
| 2023-08-31 | $143.14M |
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.