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Morningstar

Pioneer Multi-Asset Ultrashort Income C MCFRX

Morningstar Analyst Rating
Analyst rating as of | See Amundi Investment Hub
  • NAV / 1-Day Return 9.53  /  0.01 %
  • Total Assets 4.3 Bil
  • Adj. Expense Ratio
    —
  • Expense Ratio 0.910%
  • Distribution Fee Level Low
  • Share Class Type Level Load
  • Category Ultrashort Bond
  • Credit Quality / Interest Rate Sensitivity Medium / Limited
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 2.75%
  • Effective Duration 0.16 years

USD | NAV as of Mar 30, 2023 | 1-Day Return as of Mar 30, 2023, 10:16 PM GMT+0

Morningstar’s Analysis MCFRX

Will MCFRX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable MCFRX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the MCFRX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of MCFRX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Heavy on credit risk.

Senior Analyst

Summary

| by R.J. D'Ancona

Pioneer Multi-Asset Ultrashort Income takes too much credit risk for an ultrashort bond strategy, and recent management turnover still hangs over this team. Its cheapest share classes earn a Neutral Morningstar Analyst Rating, while its pricier shares are rated Negative.

Unlock our full analysis with Morningstar Investor

Portfolio Holdings MCFRX

More MCFRX Holdings
  • Current Portfolio Date Jan 31, 2023
  • Equity Holdings 0
  • Bond Holdings 948
  • Other Holdings 61
  • % Assets in Top 10 Holdings 4.9
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Dreyfus Government Cash Mgmt Instl

2.80
122,216,493
Cash and Equivalents

Basket Collareal Us Triparty Repo

1.29
56,320,000
Cash and Equivalents

Basket Collareal Us Triparty Repo

1.10
48,100,000
Cash and Equivalents

Basket Collareal Us Triparty Repo

1.06
46,320,000
Cash and Equivalents

Basket Collareal Us Triparty Repo

0.76
33,160,000
Cash and Equivalents

Basket Collareal Us Triparty Repo

0.76
33,160,000
Cash and Equivalents

Federal National Mortgage Association 6%

0.73
31,834,336
Securitized

Prudential Funding Corp 4.3036%

0.57
24,997,010
Cash and Equivalents

Bank of America Corporation 5.555%

0.53
23,298,327
Corporate

Standard Chartered PLC

0.53
23,223,030
Corporate