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Trending ETFs

Name

As of 06/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$7.84

$565 M

5.81%

$0.45

1.47%

Vitals

YTD Return

-2.1%

1 yr return

4.7%

3 Yr Avg Return

0.4%

5 Yr Avg Return

-0.7%

Net Assets

$565 M

Holdings in Top 10

54.2%

52 WEEK LOW AND HIGH

$7.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.47%

SALES FEES

Front Load 3.75%

Deferred Load N/A

TRADING FEES

Turnover 112.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$7.84

$565 M

5.81%

$0.45

1.47%

PTFAX - Profile

Distributions

  • YTD Total Return -2.1%
  • 3 Yr Annualized Total Return 0.4%
  • 5 Yr Annualized Total Return -0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.32%
DIVIDENDS
  • Dividend Yield 5.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    PIMCO RAE Fundamental Advantage PLUS Fund
  • Fund Family Name
    PIMCOFUNDS
  • Inception Date
    Aug 01, 2008
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Robert Arnott

Fund Description

The Fund seeks to achieve its investment objective under normal circumstances by obtaining long exposure to a portfolio of stocks (“RAE US Large Model Portfolio”) and short exposure to the S&P 500 Index (“S&P 500”), and complementing this equity market neutral exposure with absolute return bond alpha strategy (“AR Bond Alpha Strategy”). The RAE US Large Model Portfolio stocks are selected by the Fund’s sub-adviser, Research Affiliates (“Sub-Adviser”), from a broad universe of companies which satisfy certain liquidity and capacity requirements. Under normal circumstances equity total return swaps are used to obtain exposure to the RAE US Large Model Portfolio and short positions in swaps and futures are used to obtain exposure to the S&P 500. The Fund’s strategy of maintaining long exposure to the RAE US Large Model Portfolio and short exposure to the S&P 500 can be characterized as “market neutral” because the long and the short exposures are intended to offset one another producing a net equity exposure that is approximately zero. At the same time, the Fund is designed to deliver the relative appreciation (or depreciation) of the RAE US Large Model Portfolio over the S&P 500.The Sub-Adviser uses the RAE® methodology for portfolio construction. The RAE® methodology is a rules-based model that selects stocks using quantitative signals that indicate higher expected returns, e.g., value, quality, and momentum. The model then weights selected stocks by using their fundamental measures of company size, e.g., sales, cash flow, dividends and book value. Actual stock positions in the RAE US Large Model Portfolio, which drift apart from target weights as market prices change, are rebalanced to target weights periodically. The RAE® methodology’s systematic portfolio rebalancing reflects a value orientation. Portfolio managers do not have discretion with respect to the allocation determined by the RAE® methodology. The RAE® methodology is not updated according to any predetermined schedule.The Fund typically will seek to simultaneously gain long exposure to RAE US Large Model Portfolio and short exposure to the S&P 500, each in an amount, under normal circumstances, approximately equal to the Fund’s net assets. The Sub-Adviser provides investment advisory services in connection with the Fund’s swap-based exposure to the RAE US Large Model Portfolio by, among other things, providing PIMCO, or counterparties designated by PIMCO, with the RAE US Large Model Portfolio for purposes of developing equity total return swaps based on the RAE US Large Model Portfolio. In a typical swap agreement, the Fund will receive the total return of the RAE US Large Model Portfolio from the counterparty to the swap agreement in exchange for paying the counterparty an agreed upon short term interest rate. The Fund will typically invest in short S&P 500 futures and/or total return swaps that provide the inverse of the total return of the S&P 500 index plus a short term interest rate.Because the RAE US Large Model Portfolio is a proprietary portfolio, there may be a limited number of counterparties willing or able to serve as counterparties to a swap agreement. If such swap agreements are not available, or if swap pricing is unattractive or for other reasons, the Fund may invest in other instruments, “baskets” of stocks, or individual securities to replicate the performance of the RAE US Large Model Portfolio relative to the S&P 500.The Fund seeks to maintain long exposure to the RAE US Large Model Portfolio and short exposure to the S&P 500 even when the value of the RAE US Large Model Portfolio is underperforming relative to the S&P 500.In managing the Fund’s investments in the AR Bond Alpha Strategy, PIMCO seeks to outperform any residual net cost of obtaining long exposure to the RAE US Large Model Portfolio and short exposure to the S&P 500, thereby enhancing the Fund’s total return and return versus the benchmark (sometimes referred to as “alpha”). The AR Bond Alpha Strategy invests in a diversified portfolio of Fixed Income Instruments, which may be represented by forwards or derivatives such as options, futures contracts or swap agreements. “Fixed Income Instruments” include bonds, debt securities and other similar instruments issued by various U.S. and non-U.S. public or private-sector entities. The AR Bond Alpha Strategy is not designed to systematically provide bond market exposure, although the returns may (or may not) be positively correlated with the returns of the bond market.The AR Bond Alpha Strategy seeks to maintain an overall portfolio duration which normally varies from (negative) 3 years to positive 8 years based on PIMCO’s market forecasts among other factors. Duration is a measure used to determine the sensitivity of a security’s price to changes in interest rates. The longer a security’s duration, the more sensitive it will be to changes in interest rates. In addition to duration, the AR Bond Alpha Strategy has flexibility with respect to overall sector exposures, non-U.S. exposures and credit quality, both as a function of the strategy’s investment guidelines and lack of a bond market index benchmark.The Fund may invest, without limitation, in derivative instruments, such as options, futures contracts or swap agreements, or in mortgage- or asset-backed securities subject to applicable law and any other restrictions described in the Fund’s prospectus or Statement of Additional Information. The Fund may purchase or sell securities on a when-issued, delayed delivery or forward commitment basis and may engage in short sales. The Fund may invest up to 20% of its total assets in high yield securities (“junk bonds”), as rated by Moody’s Investors Service, Inc. (“Moody’s”), Standard & Poor’s Ratings Services (“S&P”) or Fitch, Inc. (“Fitch”), or, if unrated, as determined by PIMCO. In the event that ratings services assign different ratings to the same security, PIMCO will use the highest rating as the credit rating for that security. The Fund may also invest, without limitation, in securities denominated in foreign currencies and in U.S. dollar-denominated securities of foreign issuers. With respect to the AR Bond Alpha Strategy, the Fund may invest up to 25% of its total assets in securities and instruments that are economically tied to emerging market countries (this limitation does not apply to investment grade sovereign debt denominated in the local currency with less than 1 year remaining to maturity, which means the Fund may invest in such instruments without limitation subject to any applicable legal or regulatory limitation). The Fund will normally limit its foreign currency exposure (from non-U.S. dollar-denominated securities or currencies) to 35% of its total assets. The Fund will normally limit its exposure (from non-U.S. dollar-denominated securities or currencies) to each non-U.S. currency to 10% of its total assets. The Fund will normally limit its aggregate U.S. dollar exposure from transactions or instruments that reference the relative return of a non-U.S. currency or currencies as compared to the U.S. dollar to 20% of its total assets. The Fund may also invest up to 10% of its total assets in preferred securities.
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PTFAX - Performance

Return Ranking - Trailing

Period PTFAX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.1% -11.6% 15.8% 23.00%
1 Yr 4.7% -33.0% 41.7% 32.04%
3 Yr 0.4%* -10.5% 13.4% 72.45%
5 Yr -0.7%* -4.8% 11.1% 71.08%
10 Yr 10.5%* -4.6% 7.6% 91.18%

* Annualized

Return Ranking - Calendar

Period PTFAX Return Category Return Low Category Return High Rank in Category (%)
2023 -7.3% -31.7% 23.2% 85.71%
2022 10.6% -20.7% 10.7% 63.92%
2021 -6.2% -12.4% 14.7% 60.00%
2020 -10.4% -13.2% 12.9% 89.87%
2019 -1.5% -11.7% 7.9% 2.86%

Total Return Ranking - Trailing

Period PTFAX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.1% -11.7% 15.8% 22.00%
1 Yr 4.7% -33.0% 41.7% 50.49%
3 Yr 0.4%* -10.5% 13.4% 79.59%
5 Yr -0.7%* -4.8% 11.1% 78.31%
10 Yr 10.5%* -4.6% 7.6% 91.18%

* Annualized

Total Return Ranking - Calendar

Period PTFAX Return Category Return Low Category Return High Rank in Category (%)
2023 -2.1% -31.7% 23.2% 85.71%
2022 12.4% -20.7% 10.7% 63.92%
2021 -1.5% -12.4% 14.7% 75.56%
2020 -10.1% -12.7% 12.9% 89.87%
2019 -1.4% -11.5% 13.2% 5.71%

NAV & Total Return History


PTFAX - Holdings

Concentration Analysis

PTFAX Category Low Category High PTFAX % Rank
Net Assets 565 M 105 K 12.6 B 14.42%
Number of Holdings 805 5 2526 23.08%
Net Assets in Top 10 311 M -619 M 6.53 B 96.15%
Weighting of Top 10 54.21% 7.6% 96.1% 4.35%

Top 10 Holdings

  1. REPO BANK AMERICA REPO 14.11%
  2. ERAUSLT TRS EQUITY FEDL01+43 *BULLET* JP 8.39%
  3. PIMCO SHORT ASSET PORTFOLIO MUTUAL FUND 6.42%
  4. FNMA TBA 30 YR 6 SINGLE FAMILY MORTGAGE 6.14%
  5. FNMA TBA 30 YR 6.5 SINGLE FAMILY MORTGAGE 4.90%
  6. FNMA TBA 30 YR 5.5 SINGLE FAMILY MORTGAGE 4.82%
  7. FNMA TBA 30 YR 5 SINGLE FAMILY MORTGAGE 3.34%
  8. TSY INFL IX N/B 07/24 0.125 2.29%
  9. DEUTSCHE BANK REPO REPO 2.11%
  10. TSY INFL IX N/B 01/25 0.25 1.70%

Asset Allocation

Weighting Return Low Return High PTFAX % Rank
Bonds
81.62% -1.04% 63.30% 21.15%
Other
43.59% -11.90% 43.69% 33.65%
Cash
6.44% -225.56% 102.75% 27.88%
Convertible Bonds
2.94% 0.00% 95.47% 25.96%
Stocks
0.00% -57.09% 325.56% 65.38%
Preferred Stocks
0.00% 0.00% 5.67% 88.46%

Bond Sector Breakdown

Weighting Return Low Return High PTFAX % Rank
Government
22.07% 0.00% 73.33% 5.77%
Securitized
18.64% 0.00% 27.70% 4.81%
Derivative
8.48% 0.00% 30.95% 12.50%
Corporate
7.53% 0.00% 100.00% 37.50%
Cash & Equivalents
6.44% 0.00% 100.00% 76.92%
Municipal
0.08% 0.00% 3.82% 11.54%

Bond Geographic Breakdown

Weighting Return Low Return High PTFAX % Rank
US
71.81% -1.04% 80.93% 1.92%
Non US
9.81% -64.71% 9.68% 100.00%

PTFAX - Expenses

Operational Fees

PTFAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.47% 0.73% 9.52% 83.50%
Management Fee 1.04% 0.13% 1.65% 40.38%
12b-1 Fee 0.25% 0.00% 1.00% 64.41%
Administrative Fee 0.40% 0.06% 0.40% 100.00%

Sales Fees

PTFAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.75% 2.75% 5.75% 77.78%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PTFAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PTFAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 112.00% 30.00% 483.00% 98.88%

PTFAX - Distributions

Dividend Yield Analysis

PTFAX Category Low Category High PTFAX % Rank
Dividend Yield 5.81% 0.00% 0.75% 80.77%

Dividend Distribution Analysis

PTFAX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Annually

Net Income Ratio Analysis

PTFAX Category Low Category High PTFAX % Rank
Net Income Ratio 0.32% -2.49% 4.20% 10.68%

Capital Gain Distribution Analysis

PTFAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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PTFAX - Fund Manager Analysis

Managers

Robert Arnott


Start Date

Tenure

Tenure Rank

Sep 26, 2014

7.68

7.7%

Mr. Arnott is the founder and chairman of Research Affiliates, a subadvisor to PIMCO. In 2002, he established Research Affiliates as a research-intensive asset management firm that focuses on innovative asset allocation and alternative indexation products. He previously served as chairman of First Quadrant, as president of TSA Capital Management (now part of Analytic Investors), and as vice president at The Boston Company. He also was global equity strategist at Salomon Brothers. He has published more than 100 articles in journals such as the Journal of Portfolio Management, the Harvard Busine

Christopher Brightman


Start Date

Tenure

Tenure Rank

Jul 28, 2017

4.84

4.8%

Chris Brightman, Chief Executive Officer, Research Affiliates, since July 2021, and Chief Investment Officer since April 2014. Previously at Research Affiliates, Mr. Brightman served as a Managing Director and Head of Investment Management. Prior to joining Research Affiliates in 2010, Mr. Brightman was chief executive officer of the University of Virginia Investment Management Company.

Bryan Tsu


Start Date

Tenure

Tenure Rank

Jul 20, 2018

3.87

3.9%

Mr. Tsu is a senior vice president and portfolio manager in the Newport Beach office, focusing on commercial mortgage-backed securities (CMBS) and collateralized loan obligations (CLOs). Prior to joining Pacific Investment Management Company LLC in 2008, he worked at Bear Stearns in New York, syndicating collateralized loan and collateralized debt obligations and other asset-backed transactions. He has eight years of investment experience and holds a bachelor's degree in economics and operations research from Columbia University.Mr. Tsu is one of Executive Vice Presidents of Pacific Investment Management Company LLC.

Jing Yang


Start Date

Tenure

Tenure Rank

Jul 20, 2018

3.87

3.9%

Ms. Yang is an executive vice president and a mortgage specialist in the structured credit group in the Newport Beach office. Prior to joining Pacific Investment Management Company LLC in 2006, she worked in home equity loan structuring at Morgan Stanley in New York. She has eight years of investment experience and holds a Ph.D. in Bioinformatics and a master's degree in statistics from the University of Chicago.Ms. Yang is an Executive Vice President of Pacific Investment Management Company LLC.

Marc Seidner


Start Date

Tenure

Tenure Rank

Feb 04, 2021

1.32

1.3%

Mr. Seidner is CIO Non-traditional Strategies, a managing director and head of portfolio management in the New York office. He is also a generalist portfolio manager and a member of the Investment Committee. He rejoined PIMCO in November 2014 after serving as head of fixed income at GMO LLC. Prior to joining PIMCO in 2009, he was a managing director and domestic fixed income portfolio manager at Harvard Management Company. Previously, he was director of active core strategies at Standish Mellon Asset Management. He holds an undergraduate degree in economics from Boston College.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.59 6.3 9.42