ZROZ

PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund

Loading...

  • ADD
  • PRINT
  • SUBSCRIBE
US Treasury
sector
1.92%
distribution yield
As of 09/30/2019
2.15%
30-day sec yield
As of 12/05/2019
25.04%
nav ytd return
As of 12/06/2019
24.98%
MARKET PRICE YTD RETURN
As of 12/06/2019
Morningstar Rating

The Fund seeks to provide total return that closely corresponds, before fees and expenses, to the total return of The BofA Merrill Lynch Long Treasury Principal STRIPS IndexSM

why invest in this fund

Portfolio Information

21
NUMBER OF HOLDINGS
As of 12/05/2019
27.29 Years
Effective Maturity
As of 12/05/2019
27.29 Years
Effective Duration
As of 12/05/2019
2.28%
est. yield to maturity
As of 12/05/2019

Fund Facts

NAV PRICE
$139.56
1 DAY RETURN
$-0.94 -0.67%
As of 12/05/2019
MARKET PRICE
$139.65
1 DAY RETURN
$-0.74 -0.53%
As of 12/05/2019

Price

Fund Information

As of 12/05/2019
Data point name Data point value
TYPE Index
DURATION CATEGORY Ultra Long
CUSIP 72201R882
Inception Date 10/30/2009
Shares Outstanding 2,020,000
Total Net Assets $281,919,969.06
Daily Trading Volume (in shares) 10,473
Premium/Discount Average (since inception) 0.03%
Premium/Discount Average as of market close 0.06%
Tracking Error
Trailing 3 years as of 11/30/2019
1.01%
Closing Price
As of 12/05/2019
$139.58

INDEX INFORMATION

The ICE BofAML Long U.S. Treasury Principal STRIPS IndexSM

The ICE BofAML Long US Treasury Principal STRIPS IndexSM is an unmanaged index comprised of long maturity Separate Trading of Registered Interest and Principal of Securities (STRIPS) representing the final principal payment of U.S. Treasury bonds. It is not possible to invest directly in an unmanaged index.

INDEX INFORMATION
Data point name Data point value
Index Ticker STPL
Inception Date 12/31/1996
Rebalancing Frequency Quarterly
Annualized Volatility
As of 10/31/2019
21.00%

quarterly trading characteristics

As of 09/30/2019

average volume

in shares 48,008
in $ $6,694,395.05

bid / ask spread

in % 0.12%
in $ $0.16

Top Ten Exposure

As of 12/05/2019

Top Ten Exposure table

Description % of Assets Sector Coupon Maturity
U S T STRIP PRINC (3% 2044) 5.27 Government 0.00 11/15/2044
U S T STRIP PRINC (2.5% 2045) 5.24 Government 0.00 02/15/2045
U S T STRIP PRINC (3% 2045) 5.20 Government 0.00 11/15/2045
U S T STRIP PRINC (2.875% 2045) 5.18 Government 0.00 08/15/2045
U S T STRIP PRINC (3% 2045) 5.17 Government 0.00 05/15/2045
U S T STRIP PRINC (2.5% 2046) 5.12 Government 0.00 02/15/2046
U S T STRIP PRINC (2.25% 2046) 5.10 Government 0.00 08/15/2046
U S T STRIP PRINC (2.5% 2046) 5.05 Government 0.00 05/15/2046
U S T STRIP PRINC (3% 2047) 5.04 Government 0.00 02/15/2047
U S T STRIP PRINC (2.875% 2046) 5.02 Government 0.00 11/15/2046

Fund Managers

fund manager Matt Dorsten
Matt Dorsten
Portfolio Manager, Quantitative Strategy
fund manager Graham A. Rennison
Graham A. Rennison
Quantitative Portfolio Manager

Current holdings are subject to risk. Holdings are subject to change at any time.

The Fund uses an indexing approach and may be affected by a general decline in market segments or asset classes relating to its Underlying Index. The Fund invests in securities and instruments included in, or representative of, its Underlying Index regardless of the investment merits of the Underlying Index.

Effective as of 10/31/2019

Fees and Expenses

Name Value
Gross Expense Ratio 0.15%
Name Value


Yields

1.92%
distribution yield
As of 09/30/2019
2.15%
30-DAY SEC YIELD
As of 12/05/2019
2.28%
est. yield to maturity
As of 12/05/2019

Dividends & Capital Gains Distribution

As of 12/05/2019
distribution date dist. nav long term cap. gain short term cap. gain dividend income dist total
10/01/2019 144.39 - - 0.700000 0.700000
07/01/2019 127.04 - - 0.670000 0.670000
04/01/2019 116.36 - - 0.730000 0.730000
12/28/2018 112.23 - - 0.950000 0.950000
12/12/2018 109.47 0.000000 0.000000 - 0.000000
10/01/2018 106.76 - - 0.770000 0.770000
07/02/2018 114.44 - - 0.770000 0.770000
04/02/2018 114.02 - - 0.782000 0.782000
12/28/2017 120.65 - - 0.782000 0.782000
12/13/2017 121.80 0.000000 0.000000 - 0.000000
10/02/2017 115.68 - - 0.770000 0.770000
07/03/2017 115.69 - - 0.800000 0.800000
05/01/2017 110.48 - - 0.000000 0.000000
04/03/2017 111.61 - - 0.720000 0.720000
12/28/2016 107.96 - - 1.110000 1.110000
12/14/2016 106.30 0.000000 0.000000 - 0.000000
10/03/2016 133.81 - - 1.000000 1.000000
07/01/2016 136.99 - - 0.520000 0.520000
04/01/2016 123.83 - - 0.630000 0.630000
12/29/2015 109.73 - - 0.930000 0.930000
12/09/2015 112.15 0.000000 0.000000 - 0.000000
12/01/2015 113.71 - - 0.000000 0.000000
11/02/2015 112.13 - - 0.000000 0.000000
09/30/2015 113.28 - - 0.730000 0.730000
08/31/2015 111.73 - - 0.000000 0.000000
07/31/2015 112.95 - - 0.000000 0.000000
06/30/2015 105.39 - - 0.850000 0.850000
03/31/2015 126.20 - - 0.750000 0.750000
12/29/2014 118.68 - - 0.780000 0.780000
12/10/2014 116.34 0.000000 0.000000 - 0.000000
09/30/2014 104.50 - - 0.900000 0.900000
06/30/2014 99.87 - - 0.760000 0.760000
03/31/2014 93.24 - - 0.680000 0.680000
12/27/2013 82.82 - - 1.240000 1.240000
12/11/2013 84.82 0.000000 0.000000 - 0.000000
09/30/2013 88.16 0.000000 0.000000 0.740000 0.740000
06/28/2013 94.57 - - 0.800000 0.800000
03/28/2013 103.44 - - 0.770000 0.770000
12/27/2012 111.18 - - 1.080000 1.080000
12/12/2012 111.94 0.000000 0.000000 - 0.000000
09/28/2012 113.80 - - 0.920000 0.920000
06/29/2012 116.38 - - 0.705000 0.705000
03/30/2012 97.09 - - 0.740000 0.740000
12/28/2011 110.53 - - 1.050000 1.050000
12/07/2011 106.62 0.000000 0.000000 - 0.000000
09/30/2011 110.49 - - 0.727550 0.727550
06/30/2011 70.18 - - 0.824890 0.824890
03/31/2011 68.60 - - 0.735890 0.735890
12/29/2010 70.61 - - 0.855590 0.855590
12/08/2010 70.35 0.000000 0.000000 - 0.000000
09/30/2010 86.33 - - 0.811540 0.811540
06/30/2010 83.02 - - 0.880150 0.880150
03/31/2010 65.91 - - 0.741980 0.741980
12/29/2009 68.09 - - 0.505760 0.505760
12/16/2009 69.98 0.000000 0.000000 - 0.000000

Yield to Maturity (YTM) is the estimated total return of a bond if held to maturity. YTM accounts for the present value of a bond's future coupon payments.

PIMCO calculates a Fund's Estimated Yield to Maturity by averaging the yield to maturity of each security held in the Fund on a market weighted basis. PIMCO pulls each security's yield to maturity from PIMCO's Portfolio Analytics database. In general, the calculation will incorporate the yield based on the notional value of all derivative instruments held by a Fund.

The 30 day SEC Yield is computed under an SEC standardized formula based on net income earned over the past 30 days.

The Subsidized yield includes contractual expense reimbursements and it would be lower without those reimbursements. The Unsubsidized 30 Day SEC yield excludes contractual expense reimbursements.

The distribution yield is calculated by annualizing actual dividends distributed for the monthly period ended on the most recent monthly distribution date and dividing by the net asset value for the same date. The yield does not include long- or short-term capital gains distributions.

As of 11/30/2019
ANNUALIZED MONTH END RETURNS
Returns 1YR 3YR 5YR 10YR Inception
NAV Total Returns (After Fees) 38.43 11.52 7.27 9.78 9.60
Market Price Returns 38.67 11.65 7.28 9.70 9.61
The ICE BofAML Long U.S. Treasury Principal STRIPS IndexSM 39.02 11.44 7.51 9.93 9.73
Performance Difference (Fund NAV vs. Index) -0.59 0.08 -0.24 -0.15 -0.13
Performance Difference (Fund Market Price vs. Index) -0.35 0.21 -0.23 -0.23 -0.12
Standard Deviation - 16.06 18.44 21.40 21.32
After Tax Pre-Liquidation 37.04 10.24 6.06 8.41 8.24
After Tax Post-Liquidation 22.63 8.31 5.06 7.24 7.10
As of 09/30/2019
ANNUALIZED QUARTER END RETURNS
Returns 1YR 3YR 5YR 10YR Inception
NAV Total Returns (After Fees) 36.15 5.09 9.49 - 9.96
Market Price Returns 36.31 5.17 9.47 - 9.97
The ICE BofAML Long U.S. Treasury Principal STRIPS IndexSM 36.07 5.32 9.69 9.31 10.07
Performance Difference (Fund NAV vs. Index) 0.08 -0.23 -0.20 - -0.11
Performance Difference (Fund Market Price vs. Index) 0.24 -0.15 -0.22 - -0.10
Standard Deviation - 18.08 18.54 - 21.48
After Tax Pre-Liquidation 34.65 3.84 8.29 - 8.60
After Tax Post-Liquidation 21.21 3.26 6.85 - 7.39
As of 11/30/2019
CUMULATIVE MONTH END RETURNS
Returns YTD 1MO 3MO 6MO
NAV Total Returns (After Fees) 27.75 -0.06 -5.69 12.20
Market Price Returns 27.86 -0.14 -5.76 12.09
The ICE BofAML Long U.S. Treasury Principal STRIPS IndexSM 28.31 -0.19 -5.56 12.71
Performance Difference (Fund NAV vs. Index) -0.56 0.13 -0.13 -0.51
Performance Difference (Fund Market Price vs. Index) -0.45 0.05 -0.20 -0.62
Standard Deviation - - - -
After Tax Pre-Liquidation 26.91 -0.06 -5.88 11.74
After Tax Post-Liquidation 16.38 -0.04 -3.37 7.21
As of 09/30/2019
CUMULATIVE QUARTER END RETURNS
Returns YTD 1MO 3MO 6MO
NAV Total Returns (After Fees) 30.01 -4.03 13.35 22.24
Market Price Returns 30.15 -4.07 13.47 22.14
The ICE BofAML Long U.S. Treasury Principal STRIPS IndexSM 30.33 -4.07 13.06 22.57
Performance Difference (Fund NAV vs. Index) -0.32 0.04 0.29 -0.33
Performance Difference (Fund Market Price vs. Index) -0.18 0.00 0.41 -0.43
Standard Deviation - - - -
After Tax Pre-Liquidation 29.40 -4.03 13.11 21.66
After Tax Post-Liquidation 17.71 -2.39 7.89 13.11

Morningstar Rating

As of 11/30/2019
Morningstar Rating
Fund Name Morningstar Category Overall 3 Yr 5 Yr 10 Yr
25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund Long Government
(29 funds)
(29 funds)
(25 funds)
(22 funds)

Overall Morningstar Rating for 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund, as of 11/30/2019 rated against 29 funds based on risk-adjusted returns. Category: Long Government.

Premium / Discount

As of 09/30/2019
market price above or equal to nav market price below nav
percent of difference NUMBER OF DAYS PERCENT OF TOTAL DAYS NUMBER OF DAYS PERCENT OF TOTAL DAYS
0 - 0.49% 59 92.19% 5 7.81%
0.5% - 0.99% 0 0.00% 0 0.00%
1.0% - 1.49% 0 0.00% 0 0.00%
1.5% - 1.99% 0 0.00% 0 0.00%
2.0% - 2.49% 0 0.00% 0 0.00%
2.5% - 2.99% 0 0.00% 0 0.00%
3.0% - 3.49% 0 0.00% 0 0.00%
3.5% - 3.99% 0 0.00% 0 0.00%
4.0% - 4.49% 0 0.00% 0 0.00%
4.5% - 4.99% 0 0.00% 0 0.00%
> = 5.00% 0 0.00% 0 0.00%
Total 59 92.19% 5 7.81%

Growth of $10,000 is calculated at NAV and assumes that all dividend and capital gain distributions were reinvested. It does not take into account sales charges or the effect of taxes. Results are not indicative of future performance.

A rating is not a recommendation to buy, sell or hold a fund. © 2019 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. Past performance is no guarantee of future results.Past performance is not a guarantee or a reliable indicator of future results.

Morningstar Rating™ 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. Morningstar, Inc.® 2019. 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. Past performance is no guarantee of future results.

As of 10/31/2019
Portfolio Composition - Sector Allocation: Market Value
Sector Fund Fund ratio The ICE BofAML Long U.S. Treasury Principal STRIPS IndexSM Index ratio
US Government Related 99.98 100.00
Securitized 0.00 0.00
Invest. Grade Credit 0.00 0.00
High Yield Credit 0.00 0.00
Non-USD Developed 0.00 0.00
Emerging Markets 0.00 0.00
Other 0.00 0.00
Net Other Short Duration Instruments 0.02 0.00
Portfolio Composition - Sector Allocation: Duration
Sector Fund Fund ratio The ICE BofAML Long U.S. Treasury Principal STRIPS IndexSM Index ratio
US Government Related 100.00 100.00
Securitized 0.00 0.00
Invest. Grade Credit 0.00 0.00
High Yield Credit 0.00 0.00
Non-USD Developed 0.00 0.00
Emerging Markets 0.00 0.00
Other 0.00 0.00
Net Other Short Duration Instruments 0.00 0.00
As of 10/31/2019
Portfolio Composition - Maturity Distribution
Years % of Fund % of The ICE BofAML Long U.S. Treasury Principal STRIPS IndexSM
0-1 0.00 0.00
1-3 0.00 0.00
3-5 0.00 0.00
5-10 0.00 0.00
10-20 0.00 0.00
20+ 100.00 100.00
Effective Maturity (yrs) 27.38 -
As of 12/05/2019
Portfolio Composition - Credit Rating: S&P
Rating Fund% Fund percent
Government 99.99
As of 12/05/2019
Portfolio Composition - Credit Rating: Moody
Rating Fund% Fund percent
Government 99.99
As of 12/05/2019
Portfolio Composition - Credit Rating: Fitch
Rating Fund% Fund percent
Government 99.99

interest rate exposures

As of 11/30/2019
exposure fund index
Effective Duration 27.30 27.91
Bull Market Duration 27.95 27.92
Bear Market Duration 27.93 27.90
Total Curve Duration 0.00 N/A

sector exposures

As of 11/30/2019
exposure fund index
Mortgage Spread Duration 0.00 0.00
Corporate Spread Duration 0.00 0.00
Emerging Markets Spread Duration 0.00 0.00
DISCLOSURES
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. Please read the prospectus carefully before you invest.
Net Asset Value (NAV) represents an ETF’s per-share value. The per-share value of an ETF is calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of ETF shares outstanding. ETF shares are valued as of the close of regular trading (normally 4:00 P.M. Eastern Time) (The “NYSE Close”) on each business day.
Returns are average annualized total returns, except for those periods of less than one year, which are cumulative. Market returns are based upon the midpoint of the bid/ask spread at 4:00 pm Eastern time (when NAV is normally determined for most Funds), and do not represent the returns you would receive if you traded shares at other times. The after-tax return calculation assumes a 35% tax rate.
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.
The SEC yield is an annualized yield based on the most recent 30 day period.
PIMCO calculates a Portfolio’s Estimated Yield to Maturity by averaging the yield to maturity of each security held in the Fund on a market weighted basis. PIMCO pulls each security's yield to maturity from PIMCO's Portfolio Analytics database. When not available in the PIMCO's Portfolio Analytics database, PIMCO pulls the security's yield to maturity from Bloomberg. When not available in either database, PIMCO will assign a yield to maturity for that security from a PIMCO matrix based on prior data. In general, the calculation will incorporate the yield based on the notional value of all derivative instruments held by a Fund.
Hypothetical Growth of $10,000 is calculated at NAV and assumes that all dividend and capital gain distributions were reinvested. It does not take into account sales charges or the effect of taxes. Results are not indicative of future performance.

A word about risk: Investing in the bond market is subject to risks, including market, interest rate, issuer, credit, inflation risk, and liquidity risk. The value of most bonds and bond strategies are impacted by changes in interest rates. Bonds and bond strategies with longer durations tend to be more sensitive and volatile than those with shorter durations; bond prices generally fall as interest rates rise, and current interest rate environments increase this risk.   Reductions in bond counterparty capacity may contribute to decreased market liquidity and increased price volatility. Bond investments may be worth more or less than the original cost when redeemed. Certain U.S. Government securities are backed by the full faith of the government, obligations of U.S. Government agencies and authorities are supported by varying degrees but are generally not backed by the full faith of the U.S. Government; portfolios that invest in such securities are not guaranteed and will fluctuate in value. 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. Diversification does not ensure against loss.

ETFs are subject to secondary market trading risks. Shares of an ETF will be listed for trading on an exchange, however, there can be no guarantee that an active trading market for such shares will develop or continue. There can be no guarantee that an ETF's exchange listing or ability to trade its shares will continue or remain unchanged. Shares of an ETF may trade on an exchange at prices at, above or below their most recent NAV. The per share NAV of an ETF is calculated at the end of each business day, and fluctuates with changes in the market value of the Fund’s holdings. The trading prices of an ETF's shares fluctuate continuously throughout the trading day based on market supply and demand, which may not correlate to NAV. The trading prices of an ETF's shares may differ significantly from NAV during periods of market volatility, which may, among other factors, lead to the Fund’s shares trading at a premium or discount to NAV.
Premiums or discounts are the differences (expressed as a percentage) between the NAV and the Market Price of the Fund on a given day, generally at the time the NAV is calculated. A premium is the amount that the Fund is trading above the reported NAV, expressed as a percentage of the NAV. A discount is the amount that the Fund is trading below the reported NAV, expressed as a percentage of the NAV. A discount or premium could be significant. The since inception premium/discount average is calculated by averaging the daily premium/discount since the inception of the fund. The daily premium/discount is the difference between the daily market price for shares of the Fund and the Fund's net asset value. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated.
Exchange Traded Funds (“ETFs”) 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 an ETF are only accomplished through creation unit aggregations or “baskets” of shares. Shares of an ETF are bought and sold at market price (not net asset value (“NAV”)). Brokerage commissions will reduce returns. Investment policies, management fees and other information can be found in the individual ETF’s prospectus.
Buying or selling ETF shares on an exchange may require the payment of brokerage commissions. 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.
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
Credit quality ratings for each issue are obtained using ratings from Standard & Poor's (S&P), Moody's Investors Service, and Fitch Ratings. In the fund holdings, the credit rating for other net assets (liabilities) appears as “NL“, not rated securities are indicated as “NR” and U.S. Treasury, U.S. Agency, U.S. Agency mortgage-backed securities and other Sovereign (foreign or domestic) securities appear under “GOVT”. The credit quality of a particular security or group of securities does not ensure the stability or safety of the overall portfolio.
In order to provide additional information regarding the intra-day value of shares of the Fund, the NYSE Arca, Inc. or a market data vendor disseminates every 15 seconds through the facilities of the Consolidated Tape Association or other widely disseminated means an updated Indicative NAV (“iNAV”) for the Fund as calculated by an information provider or market data vendor. The Fund is not involved in or responsible for any aspect of the calculation or dissemination of the iNAV and makes no representation or warranty as to the accuracy of the iNAV.
This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. 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 L.P. in the United States and throughout the world.

PIMCO Investments LLC , distributor, 1633 Broadway, New York, NY, 10019 is a company of PIMCO. ©2019, PIMCO.

flag icon

US

unidentified

[change]

Subscribe