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Name

As of 04/25/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Amundi Climate Transition Core Bond Fund

ACTCX | Fund

$9.39

$20.5 M

3.80%

$0.36

3.32%

Vitals

YTD Return

-3.8%

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$20.5 M

Holdings in Top 10

33.6%

52 WEEK LOW AND HIGH

$9.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 3.32%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 20.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/25/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Amundi Climate Transition Core Bond Fund

ACTCX | Fund

$9.39

$20.5 M

3.80%

$0.36

3.32%

ACTCX - Profile

Distributions

  • YTD Total Return -3.8%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.34%
DIVIDENDS
  • Dividend Yield 3.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Amundi Climate Transition Core Bond Fund
  • Fund Family Name
    The Pioneer Funds
  • Inception Date
    Aug 25, 2023
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The fund’s investment approach considers an investment’s income and return prospects relative to perceived risk, while also considering its climate-related characteristics. Under normal circumstances, the fund invests at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in fixed income investments that meet the investment adviser’s climate transition criteria (the “Climate Transition Criteria”).The Climate Transition Criteria are designed to identify investments that have climate-positive characteristics consistent with the transition to a more sustainable economy in terms of lower global greenhouse gas emissions, as considered by Amundi Asset Management US, Inc. (“Amundi US” or the “adviser”), the fund's investment adviser. Investments meeting the Climate Transition Criteria include (a) those whose issuers, in the view of the adviser: (1) are participating in, or contributing to, the goal of achieving lower carbon emissions, (2) have developed and are implementing a viable sustainability plan or (3) have low direct carbon emissions or impact, which may include securities issued by the U.S. government or its agencies; or (b) bonds designed to support the climate transition or other environmental purposes (known as “green bonds”).Fixed income investments may include instruments and obligations of U.S. and non-U.S. corporate and other non-governmental entities, debt securities issued or guaranteed by the U.S. government, its agencies or instrumentalities or non-U.S. governmental entities, mortgage-related or mortgage-backed securities (including “sub-prime” mortgages), asset-backed securities, floating-rate loans, convertible securities, preferred securities, TIPS and other inflation-linked debt securities, subordinated debt securities, insurance-linked securities, municipal debt securities and securities of other investment companies (including mutual funds,exchange-traded funds and closed-end funds) that invest primarily in fixed income investments. Derivative instruments that provide exposure to fixed income investments or have similar economic characteristics may be treated as fixed income investments under the fund’s 80% policy.Amundi US considers issuers as participating in, or contributing to, the goal of achieving lower carbon emissions through their current or expected future efforts to reduce or eliminate high carbon producing activities or to transition from high carbon producing activities to lower carbon producing activities, including through: (i) committing to follow third-party validated carbon reduction plans, (ii) publicly expressing credible intentions to reduce carbon emissions, (iii) engaging in significant carbon reduction efforts, including by issuers with higher carbon emissions whose carbon reductions represent a meaningful contribution to global emissions decline, or (iv) employing business models or activities, or providing products or services, that support the reduction of carbon emissions and/or provide other climate-positive benefits. Amundi US bases the consideration of a viable sustainability plan on adherence to third party standards and/or its own review. Amundi US considers whether an issuer has low carbon emissions based primarily on available carbon intensity measures, which consider emissions in relation to economic output.Amundi US allocates the fund’s investments among different fixed income asset classes (e.g., corporate obligations, mortgage-backed and asset-backed securities, and U.S. government securities) based on its outlook for economic, interest rate and political trends. At any given time, the fund may have a substantial amount of its assets in any one of such segments. The fund may invest in securities of issuers in any market capitalization range, industry or market sector.Due to Amundi US’s focus on the carbon emissions and climate transition characteristics of issuers for purposes of the Climate Transition Criteria, and the greater relative availability of carbon emissions characteristics for corporate issuers relative to other issuers, the fund may invest substantially in the debt securities of corporate issuers. Investments also may include green bonds (bonds designed to support climate-related or environmental projects or other purposes). The fund may invest a substantial portion of its assets in mortgage-related securities, including CMBS, CMOs and credit risk transfer securities, and other mortgage-related securities issued by private issuers.When considering the carbon or other climate-related characteristics of an issuer, or whether an issuer has a viable sustainability plan, Amundi US may use statistics and other available data from independent third parties, such as S&P Global Trucost, MSCI Inc., ISS ESG, CDP, and SBTi. Amundi US believes that this information currently is available more widely and is more reliable for corporate issuers. Amundi US currently does not take into account Scope 3 emissions, which include indirect emissions occurring in an issuer’s value chain (for example, purchased goods/services, use of sold products, investments, and leased assets and franchises). Amundi US considers an issuer’s carbon characteristics in the context of its sector or industry. Due to the focus on carbon characteristics, the fund will not generally invest in companies significantly involved in the production of thermal coal.Amundi US may determine that an issuer meets the Climate Transition Criteria even if the issuer does not currently meet or exceed expected targets toward lower carbon emissions, for example if the issuer demonstrates improving carbon emissions or announces a viable sustainability plan. Accordingly, certain investments that meet the Climate Transition Criteria may have relatively high carbon emissions. Over time, Amundi US expects that the fund’s portfolio, on an asset-weighted basis, will reflect continued and measurable progress toward lower carbon outcomes.Amundi US may not take into consideration whether the sponsor of a mortgage-backed or asset-backed security in which the fund invests meets the Climate Transition Criteria. That is because mortgage-backed and asset-backed securities represent interests in pools of underlying assets (e.g., mortgages or loans), and not of the ongoing business enterprise of the sponsor. It is therefore possible that the fund could invest in a mortgage-backed or asset-backed security sponsored by a bank or other financial institution in which the fund would not invest directly.The fund invests in securities of any maturity and maintains an average portfolio maturity that varies based upon the judgment of Amundi US. The maturity of a fixed income security is a measure of the time remaining until final payment on the security is due. The fund's investments may have fixed or variable principal payments and all types of interest rate payment and reset terms, including fixed rate, adjustable rate, floating rate, zero coupon, when-issued, delayed delivery, to be announced and forward commitment, contingent, deferred, payment in kind and auction rate features.Up to 20% of the fund’s total assets may be invested in debt securities rated below investment grade at the time of purchase or determined to be of equivalent quality by Amundi US. Up to 25% of the fund’s total assets may be invested in debt securities of non-U.S. issuers, including up to 5% of its total assets in debt securities of corporate and governmental issuers in emerging markets. Up to 20% of the fund’s net assets may be invested in fixed income and equity investments that do not meet Amundi US’s Climate Transition Criteria.Amundi US considers both broad economic and issuer specific factors in selecting a portfolio designed to achieve the fund's investment objective, as well as an issuer’s climate and carbon characteristics as described above. In assessing the appropriate maturity, rating, sector and country weightings of the portfolio, Amundi US considers a variety of factors that are expected to influence economic activity and interest rates. These factors include fundamental economic indicators, such as the rates of economic growth and inflation, Federal Reserve monetary policy and the relative value of the U.S. dollar compared to other currencies. Once Amundi US determines the preferable portfolio characteristics, Amundi US selects individual securities based upon the terms of the securities (such as yields compared to U.S. Treasuries or comparable issuers), liquidity and rating, sector and issuer diversification. Amundi US also employs fundamental research to assess an issuer’s credit quality, taking into account financial condition and profitability, future capital needs, potential for change in rating, industry outlook, the competitive environment and management ability. In making these portfolio decisions, Amundi US relies on the knowledge, experience and judgment of its staff and the staff of its affiliates who have access to a wide variety of research.Amundi US integrates environmental, social and corporate governance (ESG) considerations into its investment research process by evaluating the business models and practices of issuers and their ESG-related risks. Amundi US believes ESG analysis is a meaningful facet of fundamental research, the process of evaluating an issuer based on its financial position, business operations, competitive standing and management. This process considers ESG information, where available, in assessing an investment’s performance potential. Amundi US generally considers ESG information in the context of an issuer’s respective sector or industry. Amundi US may consider ESG ratings provided by third parties or internal sources, as well as issuer disclosures and public information, in evaluating issuers. Apart from climate and carbon considerations, ESG considerations are not a primary focus of the fund, and the weight given by the adviser to ESG considerations in making investment decisions will vary and, for any specific decision, they may be given little or no weight.In addition to the fund's 80% policy, the adviser generally will not invest fund assets in (i) companies that the adviser determines have significant involvement in the manufacturing of complete tobacco products, (ii) companies engaged in the production, sale, storage of, or providing services for, certain controversial weapons, including chemical, biological and depleted uranium weapons and certain antipersonnel mines and cluster bombs, (iii) companies developing or planning to develop new thermal coal capacities, companies generating more than 20% of their revenue from thermal coal mining extraction, companies with annual thermal coal extraction of 70MT or more without intention to reduce, or companies with revenue in thermal coal mining extraction and thermal coal power generation that exceeds 50% of their revenue, or (iv) issuers that violate, repeatedly and seriously, one or more of the ten principles of the UN Global Compact, without credible corrective action.
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ACTCX - Performance

Return Ranking - Trailing

Period ACTCX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.8% -4.9% 10.7% 97.53%
1 Yr N/A -4.9% 35.1% N/A
3 Yr N/A* -11.4% 2.6% N/A
5 Yr N/A* -6.2% 1101.7% N/A
10 Yr N/A* -0.5% 248.1% 97.96%

* Annualized

Return Ranking - Calendar

Period ACTCX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -1.4% 41.0% N/A
2022 N/A -39.7% 0.3% N/A
2021 N/A -5.6% 6.9% N/A
2020 N/A -2.6% 310.0% N/A
2019 N/A 0.0% 26.0% N/A

Total Return Ranking - Trailing

Period ACTCX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.8% -4.9% 10.7% 97.53%
1 Yr N/A -4.9% 35.1% N/A
3 Yr N/A* -11.4% 2.6% N/A
5 Yr N/A* -6.2% 1101.7% N/A
10 Yr N/A* -0.5% 248.1% 97.95%

* Annualized

Total Return Ranking - Calendar

Period ACTCX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -1.3% 41.0% N/A
2022 N/A -39.7% 1.1% N/A
2021 N/A -4.8% 23761504.0% N/A
2020 N/A -1.5% 17057.9% N/A
2019 N/A 0.2% 3514.6% N/A

NAV & Total Return History

ACTCX - Holdings

Concentration Analysis

ACTCX Category Low Category High ACTCX % Rank
Net Assets 20.5 M 3.22 M 71.9 B 98.32%
Number of Holdings 113 2 13067 80.84%
Net Assets in Top 10 6.9 M -317 M 3.4 B 96.70%
Weighting of Top 10 33.64% 2.0% 100.4% 8.94%

Top 10 Holdings

  1. European Investment Bank 3.96%
  2. Freddie Mac Pool 3.47%
  3. Fannie Mae Pool 3.38%
  4. Freddie Mac Pool 3.37%
  5. Freddie Mac Pool 3.36%
  6. Freddie Mac Pool 3.32%
  7. Freddie Mac Pool 3.31%
  8. Freddie Mac Pool 3.27%
  9. Fannie Mae Pool 3.26%
  10. United States Treasury Bill- When Issued 2.94%

Asset Allocation

Weighting Return Low Return High ACTCX % Rank
Bonds 		92.85% 0.00% 150.86% 94.24%
Other 		5.30% -3.18% 33.35% 0.39%
Cash 		1.85% -50.86% 50.09% 37.86%
Stocks 		0.00% 0.00% 99.81% 30.79%
Preferred Stocks 		0.00% 0.00% 0.52% 22.39%
Convertible Bonds 		0.00% 0.00% 0.93% 22.29%

Bond Sector Breakdown

Weighting Return Low Return High ACTCX % Rank
Municipal 		94.90% 44.39% 100.00% 82.26%
Derivative 		0.71% -3.18% 23.38% 2.65%
Cash & Equivalents 		0.00% 0.00% 48.02% 66.73%
Securitized 		0.00% 0.00% 5.93% 23.52%
Corporate 		0.00% 0.00% 9.41% 36.71%
Government 		0.00% 0.00% 52.02% 28.78%

Bond Geographic Breakdown

Weighting Return Low Return High ACTCX % Rank
US 		92.85% 0.00% 142.23% 93.01%
Non US 		0.00% 0.00% 23.89% 31.33%

ACTCX - Expenses

Operational Fees

ACTCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.32% 0.01% 20.65% 0.39%
Management Fee 0.35% 0.00% 1.20% 26.00%
12b-1 Fee 1.00% 0.00% 1.00% 84.19%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

ACTCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load 1.00% 0.25% 5.00% 29.47%

Trading Fees

ACTCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ACTCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 20.00% 0.00% 283.00% 58.83%

ACTCX - Distributions

Dividend Yield Analysis

ACTCX Category Low Category High ACTCX % Rank
Dividend Yield 3.80% 0.00% 14.56% 1.88%

Dividend Distribution Analysis

ACTCX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

ACTCX Category Low Category High ACTCX % Rank
Net Income Ratio 2.34% -0.53% 5.33% 27.90%

Capital Gain Distribution Analysis

ACTCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

ACTCX - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.37 1.58

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