PIA Short Term Securities Fund (PIASX)
The investment seeks a high level of current income, consistent with low volatility of principal through investing in short-term investment grade debt securities. The fund is a diversified investment company that normally invests at least 80% of its net assets in short-term securities having a duration of less than three years. Under normal market conditions, it purchases securities rated BBB- and/or Baa3 or better by a Nationally Recognized Statistical Rating Organization. The fund may invest up to 20% of its net assets in debt futures contracts, option contracts, options on securities and options on debt futures.
Fund Info
| ISIN | US0079895514 |
|---|---|
| CUSIP | 007989551 |
| Issuer | PIA Mutual Funds |
| Inception Date | Apr 29, 1994 |
| Category | Ultrashort Bond |
| Min. Investment | $1,000 |
| Asset Class | Bond |
Expense Ratio
PIASX has a high expense ratio of 0.39%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in PIA Short Term Securities Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
PIA Short Term Securities Fund had a return of 1.47% year-to-date (YTD) and 5.39% in the last 12 months. Over the past 10 years, PIA Short Term Securities Fund had an annualized return of 1.48%, while the S&P 500 had an annualized return of 10.99%, indicating that PIA Short Term Securities Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 1.47% | 11.18% |
| 1 month | 0.60% | 5.60% |
| 6 months | 2.82% | 17.48% |
| 1 year | 5.39% | 26.33% |
| 5 years (annualized) | 1.90% | 13.16% |
| 10 years (annualized) | 1.48% | 10.99% |
Monthly Returns
The table below presents the monthly returns of PIASX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.45% | -0.05% | 0.56% | -0.01% | 1.47% | ||||||||
| 2023 | 0.70% | 0.13% | 0.19% | 0.55% | 0.18% | 0.31% | 0.48% | 0.45% | 0.21% | 0.35% | 0.99% | 0.95% | 5.62% |
| 2022 | -0.32% | -0.37% | -0.72% | -0.25% | 0.06% | -0.43% | 0.29% | 0.14% | -0.35% | -0.05% | 0.53% | 0.45% | -1.02% |
| 2021 | 0.17% | -0.04% | -0.02% | 0.06% | 0.06% | -0.03% | 0.06% | 0.06% | -0.04% | -0.14% | -0.14% | -0.03% | -0.02% |
| 2020 | 0.25% | 0.44% | -0.64% | 0.84% | 0.32% | 0.19% | 0.10% | 0.08% | -0.02% | -0.01% | 0.18% | 0.10% | 1.85% |
| 2019 | 0.45% | 0.25% | 0.27% | 0.27% | 0.29% | 0.36% | 0.09% | 0.47% | 0.06% | 0.28% | 0.15% | 0.20% | 3.16% |
| 2018 | -0.10% | -0.10% | 0.12% | 0.12% | 0.24% | 0.02% | 0.23% | 0.24% | 0.13% | 0.06% | 0.14% | 0.08% | 1.19% |
| 2017 | 0.19% | 0.07% | 0.11% | 0.09% | 0.09% | 0.10% | 0.19% | 0.10% | -0.01% | 0.00% | -0.10% | 0.13% | 0.95% |
| 2016 | 0.17% | -0.13% | 0.51% | 0.28% | 0.08% | 0.29% | 0.08% | 0.09% | 0.18% | -0.02% | -0.11% | 0.03% | 1.46% |
| 2015 | 0.26% | 0.06% | 0.17% | 0.06% | 0.06% | -0.14% | 0.08% | -0.23% | 0.02% | 0.07% | -0.03% | -0.11% | 0.28% |
| 2014 | 0.14% | 0.04% | -0.04% | 0.15% | 0.05% | 0.05% | 0.06% | -0.15% | 0.06% | -0.03% | 0.05% | -0.02% | 0.35% |
| 2013 | 0.03% | 0.02% | 0.05% | 0.04% | -0.14% | -0.15% | 0.15% | -0.05% | 0.15% | 0.16% | 0.05% | -0.03% | 0.27% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of PIASX is 98, placing it in the top 2% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
PIASX (PIA Short Term Securities Fund)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for PIA Short Term Securities Fund (PIASX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
PIA Short Term Securities Fund granted a 4.11% dividend yield in the last twelve months. The annual payout for that period amounted to $0.41 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.41 | $0.36 | $0.14 | $0.08 | $0.14 | $0.20 | $0.16 | $0.12 | $0.11 | $0.09 | $0.07 | $0.06 |
Dividend yield | 4.11% | 3.61% | 1.40% | 0.78% | 1.34% | 2.01% | 1.59% | 1.15% | 1.05% | 0.89% | 0.65% | 0.56% |
Monthly Dividends
The table displays the monthly dividend distributions for PIA Short Term Securities Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.15 | |||||||
| 2023 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.36 |
| 2022 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.14 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.08 |
| 2020 | $0.02 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.14 |
| 2019 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.20 |
| 2018 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.02 | $0.16 |
| 2017 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.12 |
| 2016 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 |
| 2015 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2014 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.07 |
| 2013 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.01 | $0.00 | $0.00 | $0.01 | $0.00 | $0.01 | $0.06 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the PIA Short Term Securities 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 Short Term Securities Fund was 2.58%, occurring on Jun 14, 2022. Recovery took 213 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -2.58% | Oct 4, 2021 | 176 | Jun 14, 2022 | 213 | Apr 20, 2023 | 389 |
| -1.97% | Mar 10, 2020 | 10 | Mar 23, 2020 | 41 | May 20, 2020 | 51 |
| -1.21% | Oct 6, 1998 | 60 | Dec 28, 1998 | 71 | Apr 6, 1999 | 131 |
| -0.82% | May 6, 1999 | 35 | Jun 23, 1999 | 13 | Jul 12, 1999 | 48 |
| -0.7% | Mar 31, 2004 | 51 | Jun 14, 2004 | 38 | Aug 6, 2004 | 89 |
Volatility
Volatility Chart
The current PIA Short Term Securities Fund volatility is 0.26%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.