*Data as of 31 December 2023.
Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. This and other information are contained in the fund's prospectus, which may be obtained by contacting your PIMCO representative or by clicking HERE. Please read the prospectus carefully before you invest.
ETF shares may be bought or sold throughout the day at their market price on the exchange on which they are listed. However, there can be no guarantee that an active trading market for PIMCO ETF shares will develop or be maintained, or that their listing will continue or remain unchanged.
Buying or selling ETF shares on an exchange may require the payment of fees, such as brokerage commissions, and other fees to financial intermediaries. In addition, an investor may incur costs attributed to the difference between the highest price a buyer is willing to pay to purchase shares of the Fund (bid) and the lowest price a seller is willing to accept for shares of the Fund (ask) when buying or selling shares in the secondary market (the bid-ask spread). Due to the costs inherent in buying or selling Fund shares, frequent trading may detract significantly from investment returns. Investment in Fund shares may not be advisable for investors who expect to engage in frequent trading.
The smart beta and Indexed ETFs use an indexing approach and may be affected by a general decline in market segments or asset classes relating to its Underlying Index. These ETFs invest in securities and instruments included in, or representative of, its Underlying Index regardless of the investment merits of the Underlying Index
Premium/Discount is the difference between the market price and NAV expressed as a percentage of NAV.
Exchange Traded Funds (“ETF”) are afforded certain exemptions from the Investment Company Act. The exemptions allow, among other things, for individual shares to trade on the secondary market. Individual shares cannot be directly purchased from or redeemed by the ETF. Purchases and redemptions directly with ETFs are only accomplished through creation unit aggregations or “baskets” of shares. Shares of an ETF, traded on the secondary market, are bought and sold at market price (not NAV). Brokerage commissions will reduce returns. Investment policies, management fees and other information can be found in the individual ETF’s prospectus.
Current holdings are subject to risk. Holdings are subject to change at any time. An investment in an ETF involves risk, including the loss of principal. Investment return, price, yield and Net Asset Value (NAV) will fluctuate with changes in market conditions. Investments may be worth more or less than the original cost when redeemed.
A new or smaller Fund’s performance may not represent how the Fund is expected to or may perform in the long-term. New Funds have limited operating histories for investors to evaluate and new and smaller Funds may not attract sufficient assets to achieve investment and trading efficiencies. A Fund may be forced to sell a comparatively large portion of its portfolio to meet significant shareholder redemptions for cash, or hold a comparatively large portion of its portfolio in cash due to significant share purchases for cash, in each case when the Fund otherwise would not seek to do so, which may adversely affect performance. The performance figures presented reflect the total return performance and reflect changes in share price and reinvestment of dividend and capital gain distributions. All periods longer than one year are annualized.
A word about risk: Investing in the bond market is subject to certain risks including the risk that fixed income securities will decline in value because of changes in interest rates; the risk that fund shares could trade at prices other than the net asset value; and the risk that the manager's investment decisions might not produce the desired results. Equities may decline in value due to both real and perceived general market, economic and industry conditions.; the risk that fund shares could trade at prices other than the net asset value; and the risk that the manager's investment decisions might not produce the desired results. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market’s perception of issuer creditworthiness; while generally supported by some form of government or private guarantee there is no assurance that private guarantors will meet their obligations. High-yield, lower-rated, securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Equities may decline in value due to both real and perceived general market, economic, and industry conditions. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. Model Risk is the risk that the investment models used in constructing the Underlying Index may not adequately take into account certain factors and may result in a decline in the value of the Underlying Index and, therefore, the Fund. Management and Tracking Error Risk is the risk that the portfolio manager’s investment decisions may not produce the desired results or that the Fund’s portfolio may not closely track the Underlying Index for a number of reasons. Diversification does not ensure against loss.
A Fund's ESG investing strategy may select or exclude securities of certain issuers for reasons other than financial performance. Such strategy carries the risk that the Fund's performance will differ from similar funds that do not utilize an ESG investing strategy. For example, the application of this strategy could affect the Fund's exposure to certain sectors or types of investments, which could negatively impact the Fund's performance. ESG investing is qualitative and subjective by nature, and there is no guarantee that the factors utilized by PIMCO or any judgment exercised by PIMCO will reflect the opinions of any particular investor, and the factors utilized by PIMCO may differ from the factors that any particular investor considers relevant in evaluating an issuer's ESG practices. In evaluating an issuer, PIMCO is dependent upon information and data obtained through voluntary or third-party reporting that may be incomplete, inaccurate or unavailable, or present conflicting information and data with respect to an issuer, which in each case could cause PIMCO to incorrectly assess an issuer's business practices with respect to its ESG practices. Socially responsible norms differ by region, and an issuer's ESG practices or PIMCO's assessment of an issuer's ESG practices may change over time. There is no assurance that the ESG investing strategy or techniques employed will be successful. Past performance is not a guarantee or reliable indicator of future results. Environmental, Social and Governance Investing Risk is the risk that, because the Underlying Index may select or exclude securities of certain issuers for reasons other than performance, the Fund's performance will differ from funds that do not utilize an ESG investing strategy. ESG investing is qualitative and subjective by nature, and there is no guarantee that the factors utilized by the Index Provider or any judgment exercised by the Index Provider in constructing the Underlying Index will reflect the opinions of any particular investor. For risks related to a specific fund, please refer to the Fund's prospectus or summary prospectus if available.
PIMCO RAFI ESG U.S. Exchange-Traded Fund (RAFE) is a smart beta exchange-traded fund (ETF) that seeks to provide total return that closely corresponds, before fees and expenses, to the total return of the RAFI ESG US Index. The RAFI ESG US Index is a long-only, smart beta index that seeks to achieve the dual objectives of social responsibility and long-horizon outperformance of the broad market. Please see the Fund's prospectus for more detailed information related to its investment objectives, investment strategies and its index's approach to ESG.
PIMCO Enhanced Short Maturity Active ESG Exchange-Traded Fund (EMNT) is an actively managed exchange-traded fund (ETF) that seeks maximum current income, consistent with preservation of capital and daily liquidity, while incorporating PIMCO s environmental-, social- and governance-oriented (ESG) investment strategy. [1]EMNT will primarily invest in short duration investment grade debt securities, and will disclose all portfolio holdings on a daily basis. The average portfolio duration of EMNT will vary based on PIMCO s economic forecasts and active investment process decisions, and will not normally exceed one year. Please see the Fund's prospectus for more detailed information related to its investment objectives, investment strategies and approach to ESG.
[1] The Fund considers ESG factors to choose securities that comprise the fund and to proactively engage with issuers to realize ESG-objectives. Environmental (“E”) factors can include matters such as climate change, pollution, waste, and how an issuer protects and/or conserves natural resources. Social (“S”) factors can include how an issuer manages its relationships with individuals, such as its employees, shareholders, customers and its community. Governance (“G”) factors can include how an issuer operates, such as its leadership, pay and incentive structures, internal controls, and the rights of equity and debt holders.
There is no guarantee that these investment strategies will work under all market conditions or are appropriate for all investors and each investor should evaluate their ability to invest for the long term, especially during periods of downturn in the market. Outlook and strategies are subject to change without notice.
Monthly Morningstar Rating™
The 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund was rated against the following numbers of High Yield Bond funds over the following time periods: 3 stars out of 606 funds overall; 4 stars out of 606 funds in the last three years, 3 stars out of 575 funds in the last five years, and 3 stars out of 432 funds in the last ten years.
The 1-5 Year U.S. TIPS Index Exchange-Traded Fund was rated against the following numbers of Inflation-Protected Bond funds over the following time periods: 4 stars out of 203 funds overall; 4 stars out of 203 funds in the last three years, 4 stars out of 195 funds in the last five years, and 3 stars out of 139 funds in the last ten years.
The 15+ Year U.S. TIPS Index Exchange-Traded Fund was rated against the following numbers of Inflation-Protected Bond funds over the following time periods: 1 stars out of 203 funds overall; 1 stars out of 203 funds in the last three years, 1 stars out of 195 funds in the last five years, and 1 stars out of 139 funds in the last ten years.
The 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund was rated against the following numbers of Long Government funds over the following time periods: 1 stars out of 37 funds overall; 1 stars out of 37 funds in the last three years, 1 stars out of 34 funds in the last five years, and 1 star out of 25 funds in the last ten years.
The Investment Grade Corporate Bond Index Exchange-Traded Fund was rated against the following numbers of Corporate Bond funds over the following time periods: 4 stars out of 178 funds overall; 3 stars out of 178 funds in the last three years, 4 stars out of 163 funds in the last five years, and 4 stars out of 100 funds in the last ten years.
The Broad U.S. TIPS Index Exchange-Traded Fund was rated against the following numbers of Inflation-Protected Bond funds over the following time periods: 3 stars out of 203 funds overall; 2 stars out of 203 funds in the last three years, 2 stars out of 195 funds in the last five years, and 3 stars out of 139 funds in the last ten years.
The Enhanced Low Duration Active Exchange-Traded Fund was rated against the following numbers of Intermediate Short-Term Bond funds over the following time periods: 4 stars out of 534 funds overall; 3 stars out of 534 funds in the last three years, and 3 stars out of 494 funds in the last five years, and 4 stars out of 359 funds in the last ten years.
The Enhanced Short Maturity Active Exchange-Traded Fund was rated against the following numbers of Ultrashort Bond funds over the following time periods: 3 stars out of 203 funds overall; 2 stars out of 203 funds in the last three years, 3 stars out of 183 funds in the last five years, and 3 stars out of 110 funds in the last ten years.
The Enhanced Short Maturity Active ESG Exchange-Traded Fund was rated against the following numbers of Ultrashort Bond funds over the following time periods: 3 stars out of 203 funds overall; 3 stars out of 203 funds in the last three years.
The Active Bond Exchange-Traded Fund was rated against the following numbers of Intermediate Core-Plus Bond funds over the following time periods: 3 stars out of 557 funds overall; 3 stars out of 557 funds in the last three years, 3 stars out of 527 funds in the last five years, and 3 star out of 368 funds in the last ten years.
The Intermediate Municipal Bond Active Exchange-Traded Fund was rated against the following numbers of Muni National Interm funds over the following time periods: 4 stars out of 261 funds overall; 4 stars out of 261 funds in the last three years, 4 stars out of 238 funds in the last five years, and 3 stars out 177 funds in the last ten years.
The Short Term Municipal Bond Active Exchange-Traded Fund was rated against the following numbers of Muni National Short funds over the following time periods: 4 stars out of 209 funds overall; 4 stars out of 209 funds in the last three years, 4 stars out of 197 funds in the last five years, and 4 stars out of 143 funds in the last ten years.
The RAFI Dynamic Multi-Factor Emerging Markets Equity Exchange-Traded Fund was rated against the following numbers of Diversified Emerging Mkts funds over the following time periods: 4 stars out of 721 funds overall; 4 stars out of 721 funds in the last three years, 4 stars out of 657 funds in the last five years.
The RAFI Dynamic Multi-Factor International Equity Exchange-Traded Fund was rated against the following numbers of Foreign Large Blend funds over the following time periods: 4 stars out of 696 funds overall; 5 stars out of 696 funds in the last three years, 4 stars out of 646 funds in the last five years.
The RAFI Dynamic Multi-Factor U.S. Equity Exchange-Traded Fund was rated against the following numbers of Large Blend funds over the following time periods: 5 stars out of 1118 funds overall; 4 stars out of 1118 funds in the last three years, 5 stars out of 1058 funds in the last five years.
The RAFI ESG U.S. Equity Exchange-Traded Fundwas rated against the following numbers of Large Value funds over the following time periods: 3 stars out of 1118 funds overall; 3 stars out of 1118 funds in the last three years.
Morningstar ratings are shown for funds with 3, 4 or 5 star ratings only. Other share classes ratings are either lower or unavailable. A rating is not a recommendation to buy, sell or hold a fund. © 2024 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past performance is no guarantee of future results.
PIMCO as a general matter provides services to qualified institutions, financial intermediaries and institutional investors. Individual investors should contact their own financial professional to determine the most appropriate investment options for their financial situation. This material contains the current opinions of the manager and such opinions are subject to change without notice. This material has been distributed for informational purposes only. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America LLC in the United States and throughout the world. ©2024, PIMCO
PIMCO Investments LLC, distributor, 1633 Broadway, New York, NY, 10019 is a company of PIMCO.
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