MFDX

PIMCO RAFI Dynamic Multi-Factor International Equity ETF

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Equity
sector
International
region
0.38%
nav ytd return
As of 01/24/2020
0.42%
MARKET PRICE YTD RETURN
As of 01/24/2020
0.39%
net expense ratio
Effective as of 10/31/2019

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 01/23/2020
1265
Number of Holdings
$40MM
Total Net Assets
34,889.04
Weighted Average Market Cap ($ US MM)
16.26
P/E Ratio (Trailing)
1.78
P/B Ratio (price to book)

Fund Facts

NAV PRICE
$26.10
1 DAY RETURN
$-0.06 -0.23%
As of 01/24/2020
MARKET PRICE
$26.13
1 DAY RETURN
$-0.08 -0.31%
As of 01/24/2020

Price

Fund Information

As of 01/23/2020
Data point name Data point value
TYPE Smart Beta
CUSIP 72202L371
Inception Date 08/31/2017
Shares Outstanding 1,520,000
Total Net Assets $39,764,685.36
Daily Trading Volume (in shares) 9,235
Premium/Discount Average (since inception) 0.16%
Premium/Discount Average as of market close -0.11%
Closing Price
As of 01/23/2020
$26.12

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

quarterly trading characteristics

As of 12/31/2019

average volume

in shares 6,101
in $ $154,727.51

bid / ask spread

in % 0.17%
in $ $0.04

Top Ten Holdings

As of 01/23/2020

Top Ten Holdings table

Description % of Assets Sector
NESTLE SA-REG 1.46 Consumer Staples
ROCHE HOLDING AG-GENUSSCHEIN 1.18 Health Care
GLAXOSMITHKLINE PLC 1.10 Health Care
ZURICH INSURANCE GROUP AG 0.97 Financials
HITACHI LTD 0.66 Information Technology
TOYOTA MOTOR CORP 0.65 Consumer Discretionary
SAP SE 0.64 Information Technology
NOVO NORDISK A/S-B 0.64 Health Care
ASML HOLDING NV 0.63 Information Technology
ASTRAZENECA PLC 0.61 Health Care
Effective as of 10/31/2019

Fees and Expenses

Name Value
Gross Expense Ratio 0.40%
Net Expense Ratio 0.39%

The Net Expense Ratio reflects a contractual fee waiver and/or expense reduction, which is in place through 10/31/2020 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.

Name Value


Dividends & Capital Gains Distribution

As of 01/24/2020
distribution date dist. nav long term cap. gain short term cap. gain dividend income dist total
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
04/02/2018 25.96 - - 0.000000 0.000000
12/28/2017 26.61 - - 0.191140 0.191140
12/13/2017 26.41 0.000000 0.000000 - 0.000000
As of 12/31/2019
ANNUALIZED MONTH END RETURNS
Returns 1YR 3YR 5YR 10YR Inception
NAV Total Returns (After Fees) 19.68 - - - 4.52
Market Price Returns 19.51 - - - 4.21
RAFI Dynamic Multi-Factor Developed Ex-U.S. Index 20.50 - - - 5.08
MSCI EAFE Index 22.01 9.56 5.67 5.50 5.08
Performance Difference (Fund NAV vs. Index) -0.82 - - - -0.56
Performance Difference (Fund Market Price vs. Index) -0.99 - - - -0.87
Standard Deviation - - - - 10.97
After Tax Pre-Liquidation 18.24 - - - 3.60
After Tax Post-Liquidation 11.61 - - - 3.18
As of 12/31/2019
ANNUALIZED QUARTER END RETURNS
Returns 1YR 3YR 5YR 10YR Inception
NAV Total Returns (After Fees) 19.68 - - - 4.52
Market Price Returns 19.51 - - - 4.21
RAFI Dynamic Multi-Factor Developed Ex-U.S. Index 20.50 - - - 5.08
MSCI EAFE Index 22.01 9.56 5.67 5.50 5.08
Performance Difference (Fund NAV vs. Index) -0.82 - - - -0.56
Performance Difference (Fund Market Price vs. Index) -0.99 - - - -0.87
Standard Deviation - - - - 10.97
After Tax Pre-Liquidation 18.24 - - - 3.60
After Tax Post-Liquidation 11.61 - - - 3.18
As of 12/31/2019
CUMULATIVE MONTH END RETURNS
Returns YTD 1MO 3MO 6MO
NAV Total Returns (After Fees) 19.68 2.74 7.01 7.01
Market Price Returns 19.51 2.38 6.33 6.76
RAFI Dynamic Multi-Factor Developed Ex-U.S. Index 20.50 3.07 7.51 7.51
MSCI EAFE Index 22.01 3.25 8.17 7.01
Performance Difference (Fund NAV vs. Index) -0.82 -0.33 -0.50 -0.50
Performance Difference (Fund Market Price vs. Index) -0.99 -0.69 -1.18 -0.75
Standard Deviation - - - -
After Tax Pre-Liquidation 18.24 2.29 6.26 5.88
After Tax Post-Liquidation 11.61 1.62 4.14 4.12
As of 12/31/2019
CUMULATIVE QUARTER END RETURNS
Returns YTD 1MO 3MO 6MO
NAV Total Returns (After Fees) 19.68 2.74 7.01 7.01
Market Price Returns 19.51 2.38 6.33 6.76
RAFI Dynamic Multi-Factor Developed Ex-U.S. Index 20.50 3.07 7.51 7.51
MSCI EAFE Index 22.01 3.25 8.17 7.01
Performance Difference (Fund NAV vs. Index) -0.82 -0.33 -0.50 -0.50
Performance Difference (Fund Market Price vs. Index) -0.99 -0.69 -1.18 -0.75
Standard Deviation - - - -
After Tax Pre-Liquidation 18.24 2.29 6.26 5.88
After Tax Post-Liquidation 11.61 1.62 4.14 4.12

Morningstar Rating

Morningstar Rating
Fund Name Morningstar Category Overall 3 Yr 5 Yr 10 Yr
RAFI Dynamic Multi-Factor International Equity ETF Foreign Large Blend - - - -

Premium / Discount

As of 12/31/2019
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% 47 73.44% 17 26.56%
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 47 73.44% 17 26.56%
As of 12/31/2019
Portfolio Composition - Sector Allocation: Market Value
Sector Fund Fund ratio Index ratio
No Classification 0.00 -
Energy 3.47 3.48
Materials 7.68 7.82
Industrials 18.02 18.33
Consumer Discretionary 13.57 13.59
Consumer Staples 10.78 10.76
Health Care 8.71 8.73
Financials 11.02 11.05
Information Technology 7.48 7.45
Communication Services 7.13 7.16
Utilities 6.16 6.29
Real Estate 5.33 5.34
Portfolio Composition - Sector Allocation: Duration
Sector Fund Fund ratio Index ratio
No Classification 0.00 -
Energy 0.00 0.00
Materials 0.00 0.00
Industrials 0.00 0.00
Consumer Discretionary 0.00 0.00
Consumer Staples 0.00 0.00
Health Care 0.00 0.00
Financials 0.00 0.00
Information Technology 0.00 0.00
Communication Services 0.00 0.00
Utilities 0.00 0.00
Real Estate 0.00 0.00
As of 12/31/2019

INDEX - FACTOR ALLOCATION

Factor Percentage Weight Weight ratio
Value 11.44
Low Volatility 15.38
Quality 25.75
Momentum 23.96
Size 23.47

Summary Characteristics

Summary Characteristics
Data Point
As of -
Number of Holdings 0
Weighted Average Market Cap ($ US MM) -
Median Market Cap ($ US MM) -
P/E Ratio (Forward) -
P/E Ratio (Trailing) -
P/S Ratio (Price to Sales) -
P/B Ratio (Price to Book) -
Dividend Yield -

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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.
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: 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.

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.

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