Because of a technical error, the Analyst Rating for one or more share classes of this fund was incorrect. We have resolved the error and corrected the Analyst Rating for all share classes affected by it. For further details, go to morningstar.com/learn/ar. Pioneer High Yield recently underwent a prudent strategy shift, but there is not yet evidence that the management team can skillfully steer the portfolio under its altered approach.
Will PYICX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PYICX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the PYICX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of PYICX’s parent organization’s priorities and whether they’re in line with investors’ interests.