In most cases, scientists design a low yield deformable matrix which strengthens via phase transformations, twinning etc. However in many engineering applications a low yield point is not desirable.
Well it's been always a dream to develop a material with a good strength and ductility. Usually strengthening reduces ductility/formability. Although there are a few studies claiming that both good strength and ductility are obtainable, I do not believe neither of them. It is really hard to trust papers claiming such an achievement.
Usually, in ultrafine-grained materials, the increase in tensile strength is also inversely related to ductility (elongation), i.e. the increase in strength reduces ductility. Ductility and deformation are strongly dependent on the mobility of dislocations within the sample.