MFEM

RAFI Dynamic Multi-Factor Emerging Markets Equity ETF

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Equity
Sector
Emerging Markets
region
-
nav ytd return
As of 11/26/2021
5.55%
MARKET PRICE YTD RETURN
As of 11/26/2021
Overall Morningstar Rating

The Fund seeks to track the investment results of the RAFI Dynamic MultiFactor Emerging Markets Index.

why invest in this fund

Designed To Provide Improved Return Potential

Research Affiliates’ equity factors are robust and designed with an eye toward simplicity, transparency, a sound economic rationale and reduced transaction costs.

tab 1 graph

Portfolio Information

As of 11/25/2021
$125MM
Total Net Assets
29,961.88
Weighted Average Market Cap ($ US MM)
9.12
P/E Ratio (Trailing)
1.13
P/B Ratio (price to book)

Fund Facts

NAV PRICE
$27.93
1 DAY RETURN
$-1.02 -
As of 11/26/2021
MARKET PRICE
$28.97
1 DAY RETURN
$-0.02 -3.90%
As of 11/24/2021
PREMIUM / DISCOUNT
0.00%
As of 11/26/2021
MEDIAN BID/ASK SPREAD
0.10%
As of 11/26/2021

Price

Fund Information

As of 11/25/2021
Data point name Data point value
TYPE Smart Beta
CUSIP 72202L389
Inception Date 08/31/2017
Shares Outstanding 4,320,000
Total Net Assets $125,045,478.43

INDEX INFORMATION

RAFI Dynamic Multi-Factor Emerging Markets Index

The RAFI Dynamic Multi-Factor EM index strategy takes time-varying exposures to four return factors; value, low volatility, quality, and momentum. The index uses recent and historical metrics to tilt toward factor portfolios which are particularly attractive on a forward looking basis. It is not possible to invest directly in the index.

INDEX INFORMATION
Data point name Data point value
Index Ticker RADMFENT
Inception Date 01/31/2017
Rebalancing Frequency Quarterly

Top Ten Holdings

As of 11/25/2021

Top Ten Holdings table

Description % of Assets Security Type
ISHARES MSCI INDIA ETF ISHARES MSCI INDIA ETF 4.42 MUTUAL FUNDS
INFOSYS LTD SP ADR ADR 3.59 DEPOSITORY RECEIPTS
GAZPROM PJSC COMMON STOCK RUB5.0 2.81 COMMON STOCK
TAIWAN SEMICONDUCTOR MANUFAC COMMON STOCK TWD10. 1.78 COMMON STOCK
HYUNDAI MOTOR CO COMMON STOCK KRW5000. 1.76 COMMON STOCK
KIA CORP COMMON STOCK KRW5000.0 1.56 COMMON STOCK
LUKOIL PJSC COMMON STOCK RUB.025 1.56 COMMON STOCK
MEDIATEK INC COMMON STOCK TWD10. 1.53 COMMON STOCK
VALE SA COMMON STOCK 1.46 COMMON STOCK
SK INNOVATION CO LTD COMMON STOCK KRW5000. 1.41 COMMON STOCK
Effective as of 11/01/2021

Fees and Expenses

Name Value
Gross Expense Ratio 0.52%

Fees and Expenses

Name Value
Net Expense Ratio 0.51%

The Net Expense Ratio reflects a contractual fee waiver and/or expense reduction, which is in place through 10/31/2022 and renews automatically for a full year unless terminated by PIMCO in accordance with the terms of the agreement. See the Fund's prospectus for more information.

Dividends & Capital Gains Distribution

As of 11/26/2021
Distribution Date Dist. Nav Long Term Cap. Gain Short Term Cap. Gain Dividend Income Dist. Total
10/01/2021 29.04 - - 0.600000 0.600000
07/01/2021 30.70 - - 0.190000 0.190000
04/01/2021 29.08 - - 0.030000 0.030000
12/30/2020 27.14 - - 0.200000 0.200000
12/11/2020 26.39 0.000000 0.000000 - 0.000000
10/01/2020 22.49 - - 0.080000 0.080000
07/01/2020 20.86 - - 0.110000 0.110000
04/01/2020 16.89 - - 0.070000 0.070000
12/30/2019 24.74 - - 0.280000 0.280000
12/11/2019 23.92 0.000000 0.000000 - 0.000000
10/01/2019 22.79 - - 0.075000 0.075000
07/01/2019 24.22 - - 0.150000 0.150000
04/01/2019 23.79 - - 0.085000 0.085000
12/28/2018 21.99 - - 0.400000 0.400000
12/12/2018 22.56 0.000000 0.000000 - 0.000000
10/01/2018 24.19 - - 0.125000 0.125000
07/02/2018 23.67 - - 0.120000 0.120000
04/02/2018 25.96 - - 0.015000 0.015000
12/28/2017 25.98 - - 0.054000 0.054000
12/13/2017 25.12 0.000000 0.000000 - 0.000000
As of 10/31/2021
ANNUALIZED MONTH END RETURNS
Returns 1YR 3YR 5YR 10YR Inception
NAV Total Returns (After Fees) 34.37 12.75 - - 6.38
Market Price Returns 34.45 12.64 - - 6.31
RAFI Dynamic Multi-Factor Emerging Markets Index 36.00 13.39 - - 6.92
MSCI Emerging Markets Index 16.96 12.30 9.39 4.88 6.05
Performance Difference (Fund NAV vs. Index) -1.63 -0.64 - - -0.54
Performance Difference (Fund Market Price vs. Index) -1.55 -0.75 - - -0.61
Standard Deviation - 19.09 - - 17.91
After Tax Pre-Liquidation 32.54 11.58 - - 5.48
After Tax Post-Liquidation 20.39 9.49 - - 4.60
As of 09/30/2021
ANNUALIZED QUARTER END RETURNS
Returns 1YR 3YR 5YR 10YR Inception
NAV Total Returns (After Fees) 34.03 9.44 - - 6.31
Market Price Returns 33.35 9.30 - - 6.22
RAFI Dynamic Multi-Factor Emerging Markets Index 37.08 10.37 - - 7.12
MSCI Emerging Markets Index 18.20 8.58 9.23 6.09 5.92
Performance Difference (Fund NAV vs. Index) -3.05 -0.93 - - -0.81
Performance Difference (Fund Market Price vs. Index) -3.73 -1.07 - - -0.90
Standard Deviation - 19.76 - - 18.09
After Tax Pre-Liquidation 33.15 8.54 - - 5.60
After Tax Post-Liquidation 20.20 6.98 - - 4.63
As of 10/31/2021
CUMULATIVE MONTH END RETURNS
Returns YTD 1MO 3MO 6MO
NAV Total Returns (After Fees) 10.33 0.79 -0.12 0.43
Market Price Returns 10.28 0.86 -0.49 0.36
RAFI Dynamic Multi-Factor Emerging Markets Index 11.02 -0.20 0.06 0.23
MSCI Emerging Markets Index -0.27 0.99 -0.49 -4.87
Performance Difference (Fund NAV vs. Index) -0.69 0.99 -0.18 0.20
Performance Difference (Fund Market Price vs. Index) -0.74 1.06 -0.55 0.13
Standard Deviation - - - -
After Tax Pre-Liquidation 9.10 -0.04 -0.95 -0.65
After Tax Post-Liquidation 6.12 0.46 -0.08 0.25
As of 09/30/2021
CUMULATIVE QUARTER END RETURNS
Returns YTD 1MO 3MO 6MO
NAV Total Returns (After Fees) 9.47 -3.02 -4.27 3.20
Market Price Returns 9.34 -3.29 -4.32 2.86
RAFI Dynamic Multi-Factor Emerging Markets Index 11.23 -2.39 -3.14 4.95
MSCI Emerging Markets Index -1.25 -3.97 -8.09 -3.45
Performance Difference (Fund NAV vs. Index) -1.76 -0.63 -1.13 -1.75
Performance Difference (Fund Market Price vs. Index) -1.89 -0.90 -1.18 -2.09
Standard Deviation - - - -
After Tax Pre-Liquidation 9.14 -3.02 -4.51 2.90
After Tax Post-Liquidation 5.61 -1.79 -2.52 1.90

Morningstar Rating

As of 10/31/2021
Morningstar Rating
Fund Name Morningstar Category Overall 3 Yr 5 Yr 10 Yr
RAFI Dynamic Multi-Factor Emerging Markets Equity ETF Diversified Emerging Mkts
(711 funds)
(711 funds)
- -

Overall Morningstar Rating for RAFI Dynamic Multi-Factor Emerging Markets Equity ETF, as of 10/31/2021 rated against 711 funds based on risk-adjusted returns. Category: Diversified Emerging Mkts.

Premium / Discount

Premium / Discount

Premium / Discount Calendar Year 2020 First Quarter 2021 Second Quarter 2021 Third Quarter 2021
Days Traded At Premium 68 27 15 13
Days Traded At NAV 13 5 3 4
Days Traded At Discount 172 29 45 47
As of 10/31/2021
Portfolio Composition - Sector Allocation: Market Value
sector FUND Fund ratio MSCI Emerging Markets Index Secondary index ratio
No Classification 4.56 -
Energy 13.40 5.80
Materials 13.96 8.56
Industrials 5.47 4.74
Consumer Discretionary 11.16 15.12
Consumer Staples 6.35 5.84
Health Care 0.97 4.65
Financials 14.18 19.23
Information Technology 18.10 20.71
Communication Services 5.72 10.65
Utilities 3.98 2.17
Real Estate 1.08 2.01
Portfolio Composition - Sector Allocation: Duration
Sector Fund Fund ratio
No Classification 0.00
Energy 0.00
Materials 0.00
Industrials 0.00
Consumer Discretionary 0.00
Consumer Staples 0.00
Health Care 0.00
Financials 0.00
Information Technology 0.00
Communication Services 0.00
Utilities 0.00
Real Estate 0.00
As of 09/30/2021

INDEX - FACTOR ALLOCATION

Factor Percentage Weight Weight ratio
Value 33.24
Low Volatility 27.28
Quality 26.43
Momentum 13.06
Size 0.00

Summary Characteristics

Summary Characteristics
Data Point
As of 11/25/2021
Number of Holdings 615
Weighted Average Market Cap ($ US MM) 29,961.88
Median Market Cap ($ US MM) 9,838.43
P/E Ratio (Forward) 7.57
P/E Ratio (Trailing) 9.12
P/S Ratio (Price to Sales) 0.72
P/B Ratio (Price to Book) 1.13
Dividend Yield 5.38

Other PIMCO Funds

Equities, Smart Beta
MFDX | RAFI Dynamic Multi Factor International Equity ETF
The Fund seeks to track the investment results of the RAFI Dynamic MultiFactor Developed Ex-U.S. Index.
Equities, Smart Beta
MFUS | RAFI Dynamic Multi Factor US Equity ETF
The Fund seeks to track the investment results of the RAFI Dynamic MultiFactor U.S. Index.
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.

A word about risk: Equities may decline in value due to both real and perceived general market, economic and industry conditions. 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. 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. 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.

PIMCO Smart beta ETFs and index ETFs use 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.
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.
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.
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.
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. Investments may be worth more or less than the original cost when redeemed.
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 daily premium/discount is the difference between the daily market price for shares of the Fund and the Fund's net asset value. For purposes of the premium/discount information, market price is determined using NYSE Arca’s Official Closing Price or if it more accurately reflects market price at the time as of which NAV is calculated, the midpoint between the national best bid and national best offer as of that time. Market price for purposes of other information is calculated as follows: (i) for time periods preceding December 17, 2020, 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 and (ii) for the time periods starting December 17, 2020, the NYSE Arca’s Official Closing Price or, if it more accurately reflects market price at the time as of which NAV is calculated, the midpoint between the national best bid and national best offer as of that time.
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.
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 L.P. in the United States and throughout the world. ©2021, PIMCO

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