PIA Short Term Securities Fund (PIASX)

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PIA Short Term Securities Fund (PIASX) is up 0.8% since the beginning of the year. PIASX is currently trading at $10 per share. Investors who bought $1,000 worth of PIASX shares 5 years ago would now be looking at an investment worth $1,163.

PIA Short Term Securities Fund (PIASX) has returned 0.82% so far this year and 3.55% over the past 12 months. Over the last ten years, PIASX has returned 2.29% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Apr 22, 1994, PIASX's average daily return is +0.01%, while the average monthly return is +0.18%. At this rate, an investment would double in approximately 32.1 years.

Historically, 75% of months were positive and 25% were negative. The best month was Sep 2001 with a return of +1.5%, while the worst month was Feb 1999 at -1.0%. The longest winning streak lasted 30 consecutive months, and the longest losing streak was 8 months.

On a daily basis, PIASX closed higher 20% of trading days. The best single day was May 11, 1994 with a return of +1.9%, while the worst single day was May 5, 1994 at -1.9%.

PIA Short Term Securities Fund has an annualized alpha of 2.23%, beta of -0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since April 22, 1994.

• This fund captured 4.55% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -5.93%) - a profile typical of hedging or uncorrelated assets.
• Beta of -0.00 may look defensive, but with R2 of 0.00 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 0.00 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.

PIASX has an expense ratio of 0.39%, placing it in the medium range.

PIASX ranks 97 for risk / return — in the top 97% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.

PIA Short Term Securities Fund provided a 4.00% dividend yield over the last twelve months, with an annual payout of $0.40 per share.

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.

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 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 3.28%, occurring on Sep 1, 1999. Recovery took 160 trading sessions.

The chart below shows the rolling one-month volatility.