Morningstar® Investment Profile™   Morningstar®
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Pioneer Bond VCT I
Release date as of 2022-05-31. Data on page is subject to change.
Snapshot Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
What is this?
As of 2022-05-31
Out of 568
Intermediate Core-Plus Bond Funds
Style Box™
What is this?
As of 2022-03-31
Total Fund Assets ($ Mil)
View Historical Morningstar Star Ratings and Definitions
  Investment Objective & Strategy  
The investment seeks current income and total return.
The fund normally invests at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in debt securities issued or guaranteed by the U.S. government, its agencies and instrumentalities, investment grade debt securities (including convertible debt) of corporate or other issuers and cash, cash equivalents and other short-term holdings. It may invest a substantial portion of its assets in mortgage-related securities.
  Morningstar Category: Intermediate Core-Plus Bond
Intermediate-term core-plus bond portfolios invest primarily in investment-grade U.S. fixed-income issues including government, corporate, and securitized debt, but generally have greater flexibility than core offerings to hold non-core sectors such as corporate high yield, bank loan, emerging-markets debt, and non-U.S. currency exposures. Their durations (a measure of interest-rate sensitivity) typically range between 75% and 125% of the three-year average of the effective duration of the Morningstar Core Bond Index. 
  Investment Risks
There are no additional fund specific investment risks (e.g. liquidity risk, currency risk, foreign investment risk, etc.) associated with this fund beyond the normal risks generally associated with investing in a mutual fund.
  Portfolio Profile
Asset Allocation
% of Net Assets
Bullet U.S. Stocks U.S. Stocks 0.0
Bullet Non-U.S. Stocks Non-U.S. Stocks 0.0
Bullet Bonds Bonds 79.5
Bullet Cash Cash 16.3
Bullet Other Other 4.2
Asset Allocation Rescaled Graph
Data through 2022-04-30
Morningstar Fixed-Income Sectors
% Fund
Government 1.05
Corporate 26.87
Securitized 55.59
Municipal 0.03
Cash & Equivalents 16.46
Other 0.01
Data through 2022-04-30
Credit Analysis
% Bonds
AAA 41.64
AA 6.66
A 9.80
BBB 27.10
BB 8.35
B 3.14
Below B 0.14
Not Rated 3.18
Data through 2022-03-31
Credit Analysis Graph
Holding Status
Total Number of Stock Holdings 0
Total Number of Bond Holdings 865
% of Net Assets in Top 10 Holdings 16.76
Turnover % (as of 2021-12-31) 61.00
30 Day SEC Yield % 3.15
Top Holdings
% of Net
Federal National Mortgage Association 3.5% 2052-05-01 6,000 5,826 3.07
Federal National Mortgage Association 4.5% 2052-05-01 5,000 5,085 2.68
Federal National Mortgage Association 4% 2052-05-01 5,000 4,977 2.62
Federal National Mortgage Association 4.5% 2052-06-01 4,000 4,050 2.13
Pioneer ILS Interval --- 328 2,745 1.45
Wells Fargo & Co 7 1/2 % Non Cum Perp Conv Pfd Shs -A- Series -L- --- 2 2,020 1.06
Federal National Mortgage Association 4% 2052-06-01 2,000 1,984 1.05
Federal National Mortgage Association 3% 2052-05-01 2,000 1,888 0.99
Government National Mortgage Association 3% 2052-05-20 1,800 1,718 0.91
Us Ultra Bond Cbt Jun22 2022-06-21 --- -1,514 0.80
Data through 2022-04-30
  Principal Risks   
Lending, Credit and Counterparty, Extension, Inflation-Protected Securities, Prepayment (Call), Foreign Securities, Loss of Money, Not FDIC Insured, Interest Rate, Market/Market Volatility, Convertible Securities, High-Yield Securities, Industry and Sector Investing, Inverse Floaters, Mortgage-Backed and Asset-Backed Securities, Municipal Obligations, Leases, and AMT-Subject Bonds, Other, Preferred Stocks, Repurchase Agreements, Restricted/Illiquid Securities, Underlying Fund/Fund of Funds, U.S. Government Obligations, Derivatives, Leverage, Pricing, Dollar Rolls, Socially Conscious, Increase in Expenses, Shareholder Activity, Amortized Cost, Credit Default Swaps, Forwards, Management, Zero-Coupon Bond
Show Risk Definitions
  Other Information
Inception Date: 1987-07-21
Portfolio Manager(s)
Bradley Komenda   (2018-02-01)
Brad Komenda is Senior Vice President, Portfolio Manager, and Deputy Director of Investment Grade Corporates, based in Boston. As Deputy Director of Investment Grade Corporates, he helps lead a team that supports the management of high-grade credit exposure across all fixed income portfolios managed by Amundi Pioneer, including crossover and high-grade CDS exposure. He is a member of teams managing stand-alone long duration and high-grade credit strategies, including portfolios with ESG mandates. Prior to joining Amundi Pioneer in 2008, Brad spent ten years as an Investment Grade and High Yield Analyst at Columbia Management. He began his career with General Electric Capital and Assurance as an investment grade and high yield research associate where he worked for five years. He holds a B.A. in Accounting and Business Administration from Central Washington University (1991). He is a CFA® charterholder.
Kenneth J. Taubes   (2004-12-31)
Mr. Taubes, Executive Vice President and Chief Investment Officer, U.S. of Pioneer, is responsible for overseeing the U.S. and global fixed income teams. He joined Pioneer as a senior vice president in September 1998 and has been an investment professional since 1982. Mr. Taubes has served as portfolio manager of the fund since 1999. Prior to joining Pioneer, he was a senior portfolio manager at Putnam Investments and the Treasurer of Home Owners Savings Bank. Ken is a member of Bond Analysts Society of Boston.
Jonathan Scott   (2021-11-01)
Jonathan Scott is a Vice President, Portfolio Manager and a member of the Amundi Pioneer Multi-Sector Fixed Income team in Boston. He joined the Fixed Income team in 2012 as an Investment Associate, and was promoted to Associate Portfolio Manager in 2016. In 2018, Jonathan assumed portfolio management responsibilities for a US TIPS portfolio. His responsibilities for the Multi-Sector strategies include managing agency MBS and Investment Grade Corporate exposures, as well as duration and yield curve hedging. As an Investment Associate, Jonathan supported portfolio construction and traded Investment Grade Corporate bonds. Jonathan joined Amundi Pioneer in 2008, working first in the firm’s Fund Accounting department, and in 2011, as a Fixed Income Risk Analyst for Investment Risk Management Team, where he worked closely with the Fixed Income team. Jonathan holds a B.A. in Economics and East Asian Studies with a concentration in Chinese from Colby College. He is a CFA® charterholder.
Timothy D. Rowe   (2018-06-08)
Tim Rowe is Managing Director, Deputy Director of Multi-Sector Fixed Income, and Portfolio Manager, based in Durham. Tim is the lead portfolio manager for investment grade core bond portfolios, which he has managed at the firm since 1994, and works with the sector teams to construct portfolios that meet clients’ risk and return objectives. As Deputy Director of Multi-Sector Fixed Income, he oversees a team of investment professionals who are responsible for managing institutional strategies and retail funds for US and international investors. His previous responsibilities at the firm include managing agency mortgage-backed security portfolios and leading the Securitized Credit team. Before joining the firm in 1988, Tim was an Assistant Economist at the Federal Reserve Bank of Richmond, Virginia. He holds a Master of Business Administration with specialization in Finance from the University of Chicago Booth School of Business and a Bachelor of Arts in Economics and History from Duke University.
Investment Advisor(s)
Amundi Asset Management US, Inc.
Amundi US
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