Class A Shares (HYCAX) | Class C Shares (HYCCX) | Class K Shares (——-) |
Class Y Shares (HYCYX)
|
Summary Prospectus | December 31, 2019 |
Shareowner fees | ||||
(fees paid directly from your investment) | Class A | Class C | Class K | Class Y |
Maximum sales charge (load) when you buy shares (as a percentage of offering price) | 4.50% | None | None | None |
Maximum deferred sales charge (load) (as a percentage of offering price or the amount you receive when you sell shares, whichever is less) | None1 | 1% | None | None |
Annual fund operating expenses | ||||
(expenses that you pay each year
as a percentage of the value of your investment) |
Class A | Class C | Class K | Class Y |
Management Fees2 | 0.50% | 0.50% | 0.50% | 0.50% |
Distribution and Service (12b-1) Fees | 0.25% | 1.00% | 0.00% | 0.00% |
Other Expenses | 1.27% | 1.27% | 1.27% | 1.27% |
Total Annual Fund Operating Expenses | 2.02% | 2.77% | 1.77% | 1.77% |
Less: Fee Waiver and Expense Reimbursement3 | -1.12% | -1.12% | -1.17% | -1.17% |
Net Expenses3 | 0.90% | 1.65% | 0.60% | 0.60% |
1. | Class A purchases of $500,000 or more that are not subject to an initial sales charge may be subject to a contingent deferred sales charge of 1%. See “Sales charges.” |
2. | Restated to reflect current fees. |
3. | The fund’s investment adviser has contractually agreed to limit ordinary operating expenses (ordinary operating expenses means all fund expenses other than taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, such as litigation) to the extent required to reduce fund expenses to 0.90%, 1.65%, 0.60% and 0.60% of the average daily net assets attributable to Class A, Class C, Class K and Class Y shares, respectively. These expense limitations are in effect through January 1, 2021. There can be no assurance that the adviser will extend the expense limitations beyond such time. While in effect, the arrangement may be terminated for a class only by agreement of the adviser and the Board of Trustees. |
If you redeem your shares | If you do not redeem your shares | ||||||||
Number of years you own your shares | |||||||||
1 | 3 | 5 | 10 | 1 | 3 | 5 | 10 | ||
Class A | $662 | $1,070 | $1,503 | $2,703 | $662 | $1,070 | $1,503 | $2,703 | |
Class C | 268 | 753 | 1,365 | 3,018 | 168 | 753 | 1,365 | 3,018 | |
Class K | 61 | 443 | 850 | 1,987 | 61 | 443 | 850 | 1,987 | |
Class Y | 61 | 443 | 850 | 1,987 | 61 | 443 | 850 | 1,987 |
1 Year |
Since
Inception |
Inception
Date |
|
Class A | 1/3/17 | ||
Return before taxes | -7.79 | -0.61 | |
Return after taxes on distributions | -9.63 | -2.62 | |
Return after taxes on distributions and sale of shares | -4.59 | -1.30 | |
Class C | -4.19 | 0.93 | 1/3/17 |
Class Y | -3.21 | 1.96 | 1/3/17 |
ICE BofA ML U.S. High Yield Index (reflects no deduction for fees, expenses or taxes) | -2.26 | 2.37 | 1/3/17 |
Investment adviser | Amundi Pioneer Asset Management, Inc. |
Portfolio management | Matthew Shulkin, Vice President of Amundi Pioneer (portfolio manager of the fund since 2017); Andrew Feltus, Managing Director and Co-Director of High Yield of Amundi Pioneer (portfolio manager of the fund since 2017); and Kenneth Monaghan, Managing Director and Co-Director of High Yield of Amundi Pioneer (portfolio manager of the fund since 2019) |