Pioneer High Yield Fund (TYHYX)

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Pioneer High Yield Fund (TYHYX) is up 1.9% since the beginning of the year. TYHYX is currently trading at $9 per share. Investors who bought $1,000 worth of TYHYX shares 5 years ago would now be looking at an investment worth $1,163.

Pioneer High Yield Fund (TYHYX) has returned 1.85% so far this year and 6.84% over the past 12 months. Over the last ten years, TYHYX has returned 4.80% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Feb 18, 1998, TYHYX's average daily return is +0.03%, while the average monthly return is +0.56%. At this rate, an investment would double in approximately 10.3 years.

Historically, 67% of months were positive and 33% were negative. The best month was Apr 2009 with a return of +11.1%, while the worst month was Oct 2008 at -19.5%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 6 months.

On a daily basis, TYHYX closed higher 47% of trading days. The best single day was Mar 26, 2020 with a return of +2.8%, while the worst single day was Mar 9, 2020 at -4.3%.

Pioneer High Yield Fund has an annualized alpha of 4.60%, beta of 0.22, and R2 of 0.38 versus S&P 500 Index. Calculated based on daily prices since February 18, 1998.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (46.77%) than losses (42.23%) - typical of diversified or defensive assets.
• Beta of 0.22 may look defensive, but with R2 of 0.38 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 0.38 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.

TYHYX has an expense ratio of 0.85%, placing it in the medium range.

TYHYX ranks 72 for risk / return — better than 72% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

Pioneer High Yield Fund provided a 5.81% dividend yield over the last twelve months, with an annual payout of $0.51 per share. The fund has been increasing its distributions for 2 consecutive years.

The table displays the monthly dividend distributions for Pioneer High Yield 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 Pioneer High Yield 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 Pioneer High Yield Fund was 40.86%, occurring on Dec 16, 2008. Recovery took 257 trading sessions.

The current Pioneer High Yield Fund drawdown is 0.23%.

The chart below shows the rolling one-month volatility.