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Pioneer Strategic Income Fund

mutual fund
STIRX
Payout Change
Pending
Price as of:
$9.64 +0.01 +0.1%
primary theme
Bond Sector Diversified
STIRX (Mutual Fund)

Pioneer Strategic Income Fund

Payout Change
Pending
Price as of:
$9.64 +0.01 +0.1%
primary theme
Bond Sector Diversified
STIRX (Mutual Fund)

Pioneer Strategic Income Fund

Payout Change
Pending
Price as of:
$9.64 +0.01 +0.1%
primary theme
Bond Sector Diversified

Name

As of 06/14/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.64

$3.23 B

4.05%

$0.39

1.40%

Vitals

YTD Return

1.9%

1 yr return

5.9%

3 Yr Avg Return

-1.6%

5 Yr Avg Return

1.5%

Net Assets

$3.23 B

Holdings in Top 10

19.2%

52 WEEK LOW AND HIGH

$9.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.40%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 67.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.64

$3.23 B

4.05%

$0.39

1.40%

STIRX - Profile

Distributions

  • YTD Total Return 1.9%
  • 3 Yr Annualized Total Return -1.6%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.83%
DIVIDENDS
  • Dividend Yield 4.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Pioneer Strategic Income Fund
  • Fund Family Name
    The Pioneer Funds
  • Inception Date
    Apr 15, 2099
  • Shares Outstanding
    N/A
  • Share Class
    R
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Kenneth Taubes

Fund Description

Normally, the fund invests at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in debt securities. Derivative investments that provide exposure to debt securities or have similar economic characteristics may be used to satisfy the fund’s 80% policy. The fund has the flexibility to invest in a broad range of issuers and segments of the debt securities markets. The fund's investment adviser allocates the fund's investments among the following three segments of the debt markets:Below investment grade (high yield or “junk bond”) securities of U.S. and non-U.S. issuersInvestment grade securities of U.S. issuersInvestment grade securities of non-U.S. issuersThe adviser’s allocations among the segments of the debt markets depend upon its outlook for economic, interest rate and political trends. At any given time, the fund may have a substantial amount of its assets in any one of such segments. The fund may invest in securities of issuers in any market capitalization range, industry or market sector.The fund invests primarily in debt securities issued or guaranteed by the U.S. government, its agencies or instrumentalities or non-U.S. governmental entities; debt securities of U.S. and non-U.S. corporate issuers (including convertible debt); mortgage-related securities, including commercial mortgage-backed securities (CMBS), collateralized mortgage obligations (CMOs), credit risk transfer securities and “sub-prime” mortgages; and asset-backed securities. The fund may invest a substantial portion of its assets in asset-backed securities and mortgage-related securities, including CMBS, CMOs and other mortgage-related securities issued by private issuers. The fund's investments in mortgage-related securities may include instruments, the underlying assets of which allow for balloon payments (where a substantial portion of a mortgage loan balance is paid at maturity, which can shorten the average life of the mortgage-backed instrument) or negative amortization payments (where as a result of a payment cap, payments on a mortgage loan are less than the amount of principal and interest owed, with excess amounts added to the outstanding principal balance, which can extend the average life of the mortgage-backed instrument).The fund may invest in securities of any maturity and maintains an average portfolio maturity which varies based upon the judgment of the fund's investment adviser. The maturity of a fixed income security is a measure of the time remaining until final payment on the security is due. The fund's investments may have fixed or variable principal payments and all types of interest rate payment and reset terms, including fixed rate, adjustable rate, floating rate, zero coupon, contingent, deferred, payment in kind and auction rate features.Depending upon the adviser’s allocation among market segments, up to 70% of the fund's total assets may be in debt securities rated below investment grade at the time of purchase or determined to be of equivalent quality by the adviser. Up to 20% of the fund's total assets may be invested in debt securities rated below CCC by Standard & Poor's Financial Services LLC or the equivalent by another nationally recognized statistical rating organization or determined to be of equivalent credit quality by the adviser. The fund’s investments in debt securities rated below investment grade may include securities that are in default. The fund may invest in floating rate loans, subordinated debt securities, insurance-linked securities, and municipal securities. The fund may also invest in Treasury Inflation Protected Securities (“TIPS”) and other inflation-linked debt securities.Up to 85% of the fund's total assets may be in debt securities of non-U.S. corporate and governmental issuers, including debt securities of corporate and governmental issuers in emerging markets.The fund may invest up to 20% of its total assets in equity securities, including common stocks, preferred stocks, rights, warrants, depositary receipts, securities of other investment companies (including mutual funds, exchange-traded funds and closed-end funds) that invest primarily in equity securities and equity interests in real estate trusts (REITs).The fund may, but is not required to, use derivatives, such as credit default swaps, credit default swap index products (“CDX”)(swaps based on a portfolio of credit default swaps with similar characteristics, such as credit default swaps on high-yield bonds), forward foreign currency exchange contracts, and bond and interest rate futures. The fund may use derivatives 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 also may hold cash or other short-term investments.The adviser considers both broad economic and issuer specific factors in selecting investments. In assessing the appropriate maturity, rating, sector and country weightings of the portfolio, the adviser considers a variety of factors that are expected to influence economic activity and interest rates. The adviser selects individual securities to buy and sell based upon such factors as a security’s yield, liquidity and rating, an assessment of credit quality, and sector and issuer diversification.The adviser integrates environmental, social and corporate governance (ESG) considerations into its investment research process by evaluating the business models and practices of issuers and their ESG-related risks. The adviser believes ESG analysis is a meaningful facet of fundamental research, the process of evaluating an issuer based on its financial position, business operations, competitive standing and management. This process considers ESG information, where available, in assessing an investment’s performance potential. The adviser generally considers ESG information in the context of an issuer’s respective sector or industry. The adviser may consider ESG ratings provided by third parties or internal sources, as well as issuer disclosures and public information, in evaluating issuers. ESG considerations are not a primary focus of the fund, and the weight given by the adviser to ESG considerations in making investment decisions will vary and, for any specific decision, they may be given little or no weight. Notwithstanding the foregoing, the adviser generally will not invest fund assets in companies engaged in the production, sale, storage of, or providing services for, certain controversial weapons, including chemical, biological and depleted uranium weapons and certain antipersonnel mines and clusterbombs.
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STIRX - Performance

Return Ranking - Trailing

Period STIRX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -7.7% 410.3% 65.30%
1 Yr 5.9% -10.6% 434.6% 70.30%
3 Yr -1.6%* -18.2% 72.0% 83.04%
5 Yr 1.5%* -13.8% 43.6% 65.68%
10 Yr 2.0%* -13.8% 6.5% 58.12%

* Annualized

Return Ranking - Calendar

Period STIRX Return Category Return Low Category Return High Rank in Category (%)
2023 4.3% -12.0% 15.7% 18.28%
2022 -15.6% -31.8% 18.4% 72.60%
2021 -5.7% -26.6% 25.7% 91.68%
2020 3.7% -49.2% 18.7% 27.95%
2019 7.1% -35.1% 15.3% 21.01%

Total Return Ranking - Trailing

Period STIRX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -7.7% 410.3% 65.30%
1 Yr 5.9% -10.6% 434.6% 70.30%
3 Yr -1.6%* -18.2% 72.0% 83.04%
5 Yr 1.5%* -13.8% 43.6% 65.68%
10 Yr 2.0%* -13.8% 6.5% 58.12%

* Annualized

Total Return Ranking - Calendar

Period STIRX Return Category Return Low Category Return High Rank in Category (%)
2023 8.1% -7.0% 22.2% 47.43%
2022 -13.2% -31.8% 21.1% 88.85%
2021 2.0% -13.5% 49.9% 52.64%
2020 7.2% -28.6% 24.1% 32.47%
2019 9.9% -4.8% 19.1% 38.09%

NAV & Total Return History


STIRX - Holdings

Concentration Analysis

STIRX Category Low Category High STIRX % Rank
Net Assets 3.23 B 2.53 M 143 B 18.69%
Number of Holdings 1161 2 9868 18.29%
Net Assets in Top 10 624 M -204 M 70.2 B 29.12%
Weighting of Top 10 19.19% 5.1% 271.9% 73.73%

Top 10 Holdings

  1. United States Treasury Note/Bond 4.90%
  2. Fannie Mae or Freddie Mac 2.75%
  3. Fannie Mae or Freddie Mac 2.36%
  4. Fannie Mae or Freddie Mac 1.78%
  5. Fannie Mae or Freddie Mac 1.73%
  6. United States Treasury Bill- When Issued 1.38%
  7. United States Treasury Note/Bond 1.30%
  8. Fannie Mae Pool 1.04%
  9. Freddie Mac Pool 1.02%
  10. BASKET COLLAREAL US TRI PARTY 0.92%

Asset Allocation

Weighting Return Low Return High STIRX % Rank
Bonds
94.43% 0.00% 215.76% 38.11%
Other
6.96% -66.66% 153.75% 35.98%
Convertible Bonds
2.85% 0.00% 33.50% 31.77%
Cash
0.62% -94.66% 100.00% 82.01%
Stocks
0.09% -4.18% 99.84% 61.43%
Preferred Stocks
0.00% 0.00% 28.28% 96.65%

Stock Sector Breakdown

Weighting Return Low Return High STIRX % Rank
Industrials
96.92% 0.00% 100.00% 3.66%
Basic Materials
2.07% 0.00% 100.00% 32.39%
Energy
0.93% 0.00% 100.00% 68.73%
Consumer Cyclical
0.08% 0.00% 89.95% 45.63%
Utilities
0.00% 0.00% 100.00% 98.03%
Technology
0.00% 0.00% 28.30% 97.18%
Real Estate
0.00% 0.00% 100.00% 97.75%
Healthcare
0.00% 0.00% 18.60% 97.75%
Financial Services
0.00% 0.00% 100.00% 97.46%
Communication Services
0.00% 0.00% 100.00% 98.31%
Consumer Defense
0.00% 0.00% 99.97% 97.75%

Stock Geographic Breakdown

Weighting Return Low Return High STIRX % Rank
Non US
0.05% -0.07% 17.73% 10.67%
US
0.03% -4.11% 99.84% 60.37%

Bond Sector Breakdown

Weighting Return Low Return High STIRX % Rank
Securitized
44.37% 0.00% 99.65% 18.24%
Corporate
27.22% 0.00% 96.66% 57.70%
Government
4.62% 0.00% 99.43% 68.71%
Cash & Equivalents
0.62% 0.00% 99.66% 78.90%
Municipal
0.00% 0.00% 54.26% 97.33%
Derivative
-1.03% -66.66% 153.75% 95.41%

Bond Geographic Breakdown

Weighting Return Low Return High STIRX % Rank
US
89.18% 0.00% 215.76% 32.32%
Non US
5.25% 0.00% 69.85% 38.72%

STIRX - Expenses

Operational Fees

STIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.40% 0.03% 20.67% 40.73%
Management Fee 0.56% 0.00% 2.29% 43.12%
12b-1 Fee 0.50% 0.00% 1.00% 69.49%
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

STIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

STIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

STIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 67.00% 0.00% 632.00% 39.59%

STIRX - Distributions

Dividend Yield Analysis

STIRX Category Low Category High STIRX % Rank
Dividend Yield 4.05% 0.00% 23.30% 81.87%

Dividend Distribution Analysis

STIRX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

STIRX Category Low Category High STIRX % Rank
Net Income Ratio 2.83% -1.55% 11.51% 54.02%

Capital Gain Distribution Analysis

STIRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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STIRX - Fund Manager Analysis

Managers

Kenneth Taubes


Start Date

Tenure

Tenure Rank

Apr 15, 1999

23.14

23.1%

Mr. Taubes, Executive Vice President and Chief Investment Officer, U.S. of Pioneer, is responsible for overseeing the U.S. and global fixed income teams. He joined Pioneer as a senior vice president in September 1998 and has been an investment professional since 1982. Mr. Taubes has served as portfolio manager of the fund since 1999. Prior to joining Pioneer, he was a senior portfolio manager at Putnam Investments and the Treasurer of Home Owners Savings Bank. Ken is a member of Bond Analysts Society of Boston.

Andrew Feltus


Start Date

Tenure

Tenure Rank

Dec 15, 2012

9.46

9.5%

ANDREW D. FELTUS, CFA MANAGING DIRECTOR CO-DIRECTOR OF HIGH YIELD, PORTFOLIO MANAGER Joined Amundi Pioneer: 1994 Investment Experience Since: 1991 Andrew Feltus is a Managing Director, Portfolio Manager, and Co-Director of the Amundi Pioneer High Yield team based in Boston. In addition to his role as a Portfolio Manager on U.S. high yield, global high yield, and multisector portfolios, Andrew co-leads a team of portfolio managers who specialize in identifying and capitalizing on high yield and bank loan opportunities globally. The team also provides insight and recommendations for a number of multisector fixed income strategies managed by the U.S. fixed income team. Andrew has been actively managing fixed income portfolios since 1994. He has extensive experience managing a wide range of debt securities globally, including emerging markets and foreign exchange. His experience includes analyzing and managing derivatives since 1992. Andrew joined Amundi Pioneer as a Fixed Income Analyst and became a Portfolio Manager in 2001. Prior to joining Amundi Pioneer, he worked on the bond desk at Massachusetts Financial Services. He holds a B.A. in quantitative economics and philosophy from Tufts University. He is a CFA® charterholder.

Jonathan Scott


Start Date

Tenure

Tenure Rank

Jun 08, 2018

3.98

4.0%

Jonathan Scott is a Vice President, Portfolio Manager and a member of the Amundi Pioneer Multi-Sector Fixed Income team in Boston. He joined the Fixed Income team in 2012 as an Investment Associate, and was promoted to Associate Portfolio Manager in 2016. In 2018, Jonathan assumed portfolio management responsibilities for a US TIPS portfolio. His responsibilities for the Multi-Sector strategies include managing agency MBS and Investment Grade Corporate exposures, as well as duration and yield curve hedging. As an Investment Associate, Jonathan supported portfolio construction and traded Investment Grade Corporate bonds. Jonathan joined Amundi Pioneer in 2008, working first in the firm’s Fund Accounting department, and in 2011, as a Fixed Income Risk Analyst for Investment Risk Management Team, where he worked closely with the Fixed Income team. Jonathan holds a B.A. in Economics and East Asian Studies with a concentration in Chinese from Colby College. He is a CFA® charterholder.

Bradley Komenda


Start Date

Tenure

Tenure Rank

Feb 01, 2021

1.33

1.3%

Brad Komenda is Senior Vice President, Portfolio Manager, and Deputy Director of Investment Grade Corporates, based in Boston. As Deputy Director of Investment Grade Corporates, he helps lead a team that supports the management of high-grade credit exposure across all fixed income portfolios managed by Amundi Pioneer, including crossover and high-grade CDS exposure. He is a member of teams managing stand-alone long duration and high-grade credit strategies, including portfolios with ESG mandates. Prior to joining Amundi Pioneer in 2008, Brad spent ten years as an Investment Grade and High Yield Analyst at Columbia Management. He began his career with General Electric Capital and Assurance as an investment grade and high yield research associate where he worked for five years. He holds a B.A. in Accounting and Business Administration from Central Washington University (1991). He is a CFA® charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19