PIA High Yield (MACS) Fund (PIAMX)

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The chart shows the growth of an initial investment of $10,000 in PIA High Yield (MACS) Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

PIA High Yield (MACS) Fund (PIAMX) has returned -2.20% so far this year and 1.56% over the past 12 months.

Based on dividend-adjusted daily data since Jan 29, 2018, PIAMX's average daily return is +0.02%, while the average monthly return is +0.42%. At this rate, your investment would double in approximately 13.8 years.

Historically, 66% of months were positive and 34% were negative. The best month was May 2020 with a return of +5.6%, while the worst month was Mar 2020 at -12.7%. The longest winning streak lasted 18 consecutive months, and the longest losing streak was 6 months.

On a daily basis, PIAMX closed higher 45% of trading days. The best single day was Apr 9, 2020 with a return of +1.7%, while the worst single day was Mar 16, 2020 at -2.4%.

PIA High Yield (MACS) Fund has an annualized alpha of 3.77%, beta of 0.10, and R² of 0.21 versus S&P 500 Index. Calculated based on daily prices since January 30, 2018.

• This fund participated in 33.13% of S&P 500 Index downside but only 30.13% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.10 may look defensive, but with R² of 0.21 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.21 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

PIAMX has an expense ratio of 0.20%, which is considered low.

PIAMX ranks 9 for risk / return — in the bottom 9% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

The table below present risk-adjusted performance metrics for PIA High Yield (MACS) Fund (PIAMX) and compare them to a chosen benchmark (S&P 500 Index).

PIA High Yield (MACS) Fund provided a 8.51% dividend yield over the last twelve months, with an annual payout of $0.67 per share. The fund has been increasing its distributions for 3 consecutive years.

The table displays the monthly dividend distributions for PIA High Yield (MACS) Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the PIA High Yield (MACS) Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the PIA High Yield (MACS) Fund was 18.15%, occurring on Mar 23, 2020. Recovery took 122 trading sessions.

The current PIA High Yield (MACS) Fund drawdown is 3.50%.

The chart below shows the rolling one-month volatility.