We're going to continue with our reviews of fund families with Pioneer Mutual Funds. In this article, we're first going to provide a brief background of the company, including the services Pioneer offers to investors. Next, we'll talk about Pioneer's fees and overall returns. Finally, we'll provide information on some of their top performing mutual funds.
Pioneer Family of Mutual Funds
Pioneer mutual funds are offered through Pioneer Investment Management, Inc., which is the U.S. subsidiary of Pioneer Global Asset Management S.p.A. Pioneer manages approximately $44.7 billion in assets under the name Pioneer Investments. As a global company, Pioneer operates out of Boston, Dublin, and London. The company has 2,000 employees in 26 countries.
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Pioneer employs roughly 330 investment professionals worldwide. They offer investors help with retirement planning including Traditional IRAs, Roth IRAs, Coverdell Education Savings Accounts, 529 plans and 403(b) plan management. Pioneer fund was launched in 1928 by Philip Carret, and his appreciation of international investment opportunities remains deeply rooted throughout Pioneer even today.
Funds Fee Structure and Returns
Morningstar ratings indicate the expense ratios for mutual funds at Pioneer range from Average for their domestic stock funds (1.16), taxable bond (1.08%), and municipal bond funds (1.02%), to Above Average for their international stock funds (1.38%). Even though Pioneer claims their investment focus is on international opportunities, 46.21% of their funds are in domestic stocks, while another 41.26% are in taxable bond funds. Only 1.00% of the assets under management are invested in international stocks (October 2019).
The minimum investment is $1,000 at Pioneer. In addition to their relatively high expense ratios, only 55.21% of their fund's assets are in no-load mutual funds. As of October 2019, the average return for the Pioneer family of mutual funds was 6.09% over the last five years.
Top Rated Pioneer Mutual Funds
One of the top rated mutual funds at Pioneer specializes in bonds. Unfortunately, they also carry a 5.75% front load, which is a high premium for investments like bonds. That being said, let's take a closer look at the top three rated mutual funds at Pioneer:
Pioneer Multi Asset Ultra Short Income (MYFRX)
Assets: $6.2 billion
Category: Ultrashort Bond
Specialty: None
Top Three Holdings: US Treasury Notes
Load: None
Minimum Investment: $5 million
Expense Ratio: 0.45%
5-Year Average Return: 1.85%
Pioneer Balanced ESG (AYBLX)
Assets: $307.5 million
Category: Large Blend
Specialty: None
Top Three Holdings: Microsoft Corp, Alphabet Inc A, Amazon.com Inc
Load: None
Minimum Investment: $5 million
Expense Ratio: 0.69%
5-Year Average Return: 7.38%
Pioneer Dynamic Credit Fund (PEQIX)
Assets: $2.6 billion
Category: Large Value
Specialty: None
Top Three Holdings: Verizon Communications Inc, Exxon Mobil Corp, AstraZeneca PLC
Load: 5.75%
Minimum Investment: $5 million
Expense Ratio: 1.00%
5-Year Average Return: 9.77%
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