Fund Evaluator:
Access Flex High Yield ProFund Inv (FYAIX)
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Best Performing in High Yield Bond Over the Last Year
| 11.1% | Fidelity Capital & Income (FAGIX) |
| 10.2% | Fidelity Advisor Capital & Income Z (FIQTX) |
| 6.6% | American Century High-Yield Y (AHYLX) |
| 6.5% | Fidelity Advisor High Income Z (FGUMX) |
| 6.4% | Fidelity High Income (SPHIX) |
Fund Details
Access Flex High Yield ProFund Inv Overview
Access Flex High Yield ProFund Inv (FYAIX) is an actively managed Taxable Bond High Yield Bond fund. ProFunds launched the fund in 2004.
The investment seeks to provide investment results that correspond generally to the total return of the high yield market consistent with maintaining reasonable liquidity. The fund invests primarily in financial instruments that the fund Advisors believes, in combination, should provide investment results that correspond generally to the high yield market. It seeks to maintain exposure to the high yield market regardless of market conditions and without taking defensive positions in cash or other instruments in anticipation of an adverse climate for the high yield market. The fund is non-diversified.
About Access Flex High Yield ProFund Inv (FYAIX)
There are 2 members of the management team with an average tenure of 1.85 years: Michael Neches (2024), Tarak Davé (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Markit iBoxx Liquid High Yield TR USD index with a weighting of 100%. Access Flex High Yield ProFund Inv has 13 securities in its portfolio. The top 10 holdings constitute 231.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Access Flex High Yield ProFund Inv is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Access Flex High Yield ProFund Inv has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Access Flex High Yield ProFund Inv has 100.0% of the portfolio in cash.
Assets Under Management
The fund has $8 million in total assets, which is below the $550 million average for the High Yield Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FYAIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Access Flex High Yield ProFund Inv expense ratio is high compared to funds in the High Yield Bond category. Access Flex High Yield ProFund Inv has an expense ratio of 1.75%, which is 90% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Access Flex High Yield ProFund Inv has a portfolio turnover rate of 1308%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 73% for the High Yield Bond category.
Recently, in the month of August 2026, Access Flex High Yield ProFund Inv returned 0.8%, which earned it a grade of D, as the High Yield Bond category had an average return of 0.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Access Flex High Yield ProFund Inv has a trailing yield of 2.15%, which is below the 6.24% category average.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Access Flex High Yield ProFund Inv Grades
Year to date, the fund has returned 1.4%, 1.1 percentage points worse than the category, which translates into a grade of F. The fund has returned 3.0% over the past year (grade of F), 6.9% over the past three years (grade of F) and 3.0% per year over the past five years (grade of F) and 3.4% per year over the past 10 years (grade of F).
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FYAIX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FYAIX Return (NAV) | 0.8% | 0.4% | 3.0% | 6.9% | 3.0% | 3.4% |
| FYAIX Grade | D | F | F | F | F | F |
| +/- Category | -0.1% | -0.4% | -1.6% | -0.8% | -0.8% | -1.3% |
| High Yield Bond Avg | 0.9% | 0.8% | 4.6% | 7.8% | 3.8% | 4.7% |
| FYAIX Tax Cost Ratio | na | na | 0.9% | 2.2% | 1.7% | 1.6% |
FYAIX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FYAIX Return (NAV) | 1.4% | 6.6% | 6.5% | 11.4% | -8.8% | 0.4% | 0.1% | 12.2% | -0.6% | 5.3% | 8.8% |
| FYAIX Grade | F | F | D | D | B | F | F | D | A | F | F |
| +/- Category | -1.1% | -1.3% | -1.1% | -0.5% | 1.3% | -4.7% | -5.2% | -0.8% | 2.0% | -1.4% | -4.6% |
| High Yield Bond Avg | 2.5% | 7.9% | 7.6% | 11.9% | -10.0% | 5.1% | 5.3% | 13.0% | -2.6% | 6.7% | 13.4% |
| Risk Measures | |
| Standard Deviation: | 5.1% |
| Total Risk Index: | 0.42 - Low |
| Category Risk Index: | 1.26 - High |
| Category Risk Grade: | F (97% Rank) |
| Beta: | 0.79 |
| R-Squared: | 76% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 2.2% |
| Dividend Distribution: | |
| Cap Gains Distribution: | |
| Total Assets: | $10 Mil |
| Fund Total Assets: | $ 8 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 1308% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.9 years | |||
| Average Tenure: 1.9 years | |||
| Managers (Year): Neches Michael (2024), Davé Tarak (2024) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 13 |
| % in Top 10 Holdings: | 231.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 100.0% |
Purchase Information
| Fund Family: | ProFunds |
| Phone Number: | 888-776-3637 |
| Website: | www.profunds.com |
| Status: | Open |
| Inception Date: | December 17, 2004 |
| Min. Initial Purchase: | $15,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.75% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.92% |
| Share Class: | Access Flex High Yield ProFund Inv |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
