MFDX

RAFI Dynamic Multi-Factor International Equity ETF

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Equity
Sector
International
region
6.44%
nav ytd return
As of 04/22/2021
6.82%
MARKET PRICE YTD RETURN
As of 04/22/2021
0.40%
net expense ratio
Effective as of 10/30/2020
Morningstar Rating

The Fund seeks to track the investment results of the RAFI Dynamic MultiFactor Developed Ex-U.S. 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 04/22/2021
$87MM
Total Net Assets
33,488.06
Weighted Average Market Cap ($ US MM)
18.17
P/E Ratio (Trailing)
1.58
P/B Ratio (price to book)

Fund Facts

NAV PRICE
$29.03
1 DAY RETURN
$-0.08 -0.27%
As of 04/22/2021
MARKET PRICE
$29.04
1 DAY RETURN
$-0.11 -0.38%
As of 04/22/2021
PREMIUM / DISCOUNT
0.03%
As of 04/22/2021
MEDIAN BID/ASK SPREAD
0.10%
As of 04/22/2021

Price

Fund Information

As of 04/22/2021
Data point name Data point value
TYPE Smart Beta
CUSIP 72202L371
Inception Date 08/31/2017
Shares Outstanding 3,000,000
Total Net Assets $87,090,523.74

INDEX INFORMATION

RAFI Dynamic Multi-Factor Developed Ex-U.S. Index

The RAFI Dynamic Multi-Factor Dev. ex-US index takes time-varying exposures to five return factors; value, low volatility, quality, momentum and size. The index uses recent and historical metrics to tilt toward factor portfolios which are particularly attractive on a forward looking basis.

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

Top Ten Holdings

As of 04/22/2021

Top Ten Holdings table

Description % of Assets Security Type
ASML HOLDING NV COMMON STOCK EUR.09 0.84 COMMON STOCK
VODAFONE GROUP PLC COMMON STOCK USD.2095 0.76 COMMON STOCK
GLENCORE PLC COMMON STOCK USD.01 0.75 COMMON STOCK
VOLKSWAGEN AG PREF PREFERENCE 0.72 PREFERRED STOCK
BP PLC COMMON STOCK USD.25 0.69 COMMON STOCK
MAGNA INTERNATIONAL INC COMMON STOCK 0.67 COMMON STOCK
ENI SPA COMMON STOCK 0.58 COMMON STOCK
LVMH MOET HENNESSY LOUIS VUI COMMON STOCK EUR.3 0.57 COMMON STOCK
HITACHI LTD COMMON STOCK 0.56 COMMON STOCK
ASTRAZENECA PLC COMMON STOCK USD.25 0.55 COMMON STOCK
Effective as of 10/30/2020

Fees and Expenses

Name Value
Net Expense Ratio 0.40%

The Net Expense Ratio reflects a contractual fee waiver and/or expense reduction, which is in place through 10/31/2021 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.

Fees and Expenses

Name Value
Gross Expense Ratio 0.41%

Dividends & Capital Gains Distribution

As of 04/22/2021
Distribution Date Dist. Nav Long Term Cap. Gain Short Term Cap. Gain Dividend Income Dist. Total
04/01/2021 28.61 - - 0.100000 0.100000
12/30/2020 27.46 - - 0.160000 0.160000
12/11/2020 26.74 0.000000 0.000000 - 0.000000
10/01/2020 24.13 - - 0.030000 0.030000
07/01/2020 22.74 - - 0.130000 0.130000
04/01/2020 19.07 - - 0.110000 0.110000
12/30/2019 25.95 - - 0.280000 0.280000
12/11/2019 25.84 0.000000 0.000000 - 0.000000
10/01/2019 24.43 - - 0.160000 0.160000
07/01/2019 24.76 - - 0.220000 0.220000
04/01/2019 24.61 - - 0.090000 0.090000
12/28/2018 22.26 - - 0.190000 0.190000
12/12/2018 23.25 0.000000 0.000000 - 0.000000
10/01/2018 25.74 - - 0.225000 0.225000
07/02/2018 25.36 - - 0.250000 0.250000
12/28/2017 26.61 - - 0.191140 0.191140
12/13/2017 26.41 0.000000 0.000000 - 0.000000
As of 03/31/2021
ANNUALIZED MONTH END RETURNS
Returns 1YR 3YR 5YR 10YR Inception
NAV Total Returns (After Fees) 45.57 5.16 - - 6.02
Market Price Returns 46.04 5.12 - - 5.96
RAFI Dynamic Multi-Factor Developed Ex-U.S. Index 46.31 5.83 - - 6.58
MSCI EAFE Index 44.57 6.02 8.85 5.52 6.58
Performance Difference (Fund NAV vs. Index) -0.74 -0.67 - - -0.56
Performance Difference (Fund Market Price vs. Index) -0.27 -0.71 - - -0.62
Standard Deviation - 16.80 - - 15.87
After Tax Pre-Liquidation 44.85 4.50 - - 5.39
After Tax Post-Liquidation 27.20 3.84 - - 4.53
As of 03/31/2021
ANNUALIZED QUARTER END RETURNS
Returns 1YR 3YR 5YR 10YR Inception
NAV Total Returns (After Fees) 45.57 5.16 - - 6.02
Market Price Returns 46.04 5.12 - - 5.96
RAFI Dynamic Multi-Factor Developed Ex-U.S. Index 46.31 5.83 - - 6.58
MSCI EAFE Index 44.57 6.02 8.85 5.52 6.58
Performance Difference (Fund NAV vs. Index) -0.74 -0.67 - - -0.56
Performance Difference (Fund Market Price vs. Index) -0.27 -0.71 - - -0.62
Standard Deviation - 16.80 - - 15.87
After Tax Pre-Liquidation 44.85 4.50 - - 5.39
After Tax Post-Liquidation 27.20 3.84 - - 4.53
As of 03/31/2021
CUMULATIVE MONTH END RETURNS
Returns YTD 1MO 3MO 6MO
NAV Total Returns (After Fees) 3.69 2.83 3.69 19.04
Market Price Returns 4.25 2.56 4.25 19.29
RAFI Dynamic Multi-Factor Developed Ex-U.S. Index 3.98 2.77 3.98 19.86
MSCI EAFE Index 3.48 2.30 3.48 20.08
Performance Difference (Fund NAV vs. Index) -0.29 0.06 -0.29 -0.82
Performance Difference (Fund Market Price vs. Index) 0.27 -0.21 0.27 -0.57
Standard Deviation - - - -
After Tax Pre-Liquidation 3.69 2.83 3.69 18.81
After Tax Post-Liquidation 2.18 1.67 2.18 11.37
As of 03/31/2021
CUMULATIVE QUARTER END RETURNS
Returns YTD 1MO 3MO 6MO
NAV Total Returns (After Fees) 3.69 2.83 3.69 19.04
Market Price Returns 4.25 2.56 4.25 19.29
RAFI Dynamic Multi-Factor Developed Ex-U.S. Index 3.98 2.77 3.98 19.86
MSCI EAFE Index 3.48 2.30 3.48 20.08
Performance Difference (Fund NAV vs. Index) -0.29 0.06 -0.29 -0.82
Performance Difference (Fund Market Price vs. Index) 0.27 -0.21 0.27 -0.57
Standard Deviation - - - -
After Tax Pre-Liquidation 3.69 2.83 3.69 18.81
After Tax Post-Liquidation 2.18 1.67 2.18 11.37

Morningstar Rating

As of 03/31/2021
Morningstar Rating
Fund Name Morningstar Category Overall 3 Yr 5 Yr 10 Yr
RAFI Dynamic Multi-Factor International Equity ETF Foreign Large Blend
(654 funds)
(654 funds)
- -

Overall Morningstar Rating for RAFI Dynamic Multi-Factor International Equity ETF, as of 03/31/2021 rated against 654 funds based on risk-adjusted returns. Category: Foreign Large Blend.

Premium / Discount

Premium / Discount

Premium / Discount Calendar Year 2020 First Quarter 2021
Days Traded At Premium 87 55
Days Traded At NAV 14 2
Days Traded At Discount 152 4
As of 03/31/2021
Portfolio Composition - Sector Allocation: Market Value
sector FUND Fund ratio MSCI EAFE Index Secondary index ratio
No Classification 0.00 -
Energy 5.73 3.32
Materials 12.24 7.95
Industrials 17.14 15.54
Consumer Discretionary 16.14 12.81
Consumer Staples 8.08 10.26
Health Care 5.91 11.94
Financials 8.96 17.28
Information Technology 8.22 8.96
Communication Services 7.38 5.21
Utilities 6.01 3.65
Real Estate 3.30 3.09
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 03/31/2021

INDEX - FACTOR ALLOCATION

Factor Percentage Weight Weight ratio
Value 29.84
Low Volatility 9.47
Quality 19.56
Momentum 17.10
Size 24.03

Summary Characteristics

Summary Characteristics
Data Point
As of 04/22/2021
Number of Holdings 1193
Weighted Average Market Cap ($ US MM) 33,488.06
Median Market Cap ($ US MM) 15,470.55
P/E Ratio (Forward) 15.67
P/E Ratio (Trailing) 18.17
P/S Ratio (Price to Sales) 0.92
P/B Ratio (Price to Book) 1.58
Dividend Yield 2.79

Other PIMCO Funds

Equities, Smart Beta
MFEM | RAFI Dynamic Multi Factor Emerging Markets Equity ETF
The Fund seeks to track the investment results of the RAFI Dynamic MultiFactor Emerging Markets 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. ©2020, PIMCO

PIMCO Investments LLC , distributor, 1633 Broadway, New York, NY, 10019 is a company of PIMCO. ©2020, PIMCO.

CMR2020-1009-1361423