Long-Term Thinking, Short Term Strategies

Explore PIMCO's Short-Term Strategies

  • 5 stars

    PIMCO Short-Term Fund*

    Our flagship short-term strategy, offering greater income potential than cash with modest additional risk

  • 4 stars
  • 4 stars
  • 4 stars
  • 5 stars
  • * Overall Morningstar Rating™ Among 135 ultrashort bond funds. Based on risk-adjusted returns as of 10/31/2017
    ** Overall Morningstar Rating™ Among 135 ultrashort bond funds. Based on risk-adjusted returns as of 10/31/2017
    *** Overall Morningstar Rating™ among 460 short-term bond funds. Based on risk-adjusted returns as of 10/31/2017
    ****Overall Morningstar Rating™ Among 135 ultrashort bond funds. Based on risk-adjusted returns as of 10/31/2017
    *****Overall Morningstar Rating™ Among 460 short-term bond funds. Based on risk-adjusted returns as of 10/31/2017

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PIMCO Enhanced Short Maturity ETF Brochure

A brochure explaining how PIMCO Enhanced Short Maturity ETF Active ETF (MINT) may offer investors attractive risk adjusted yield potential without sacrificing liquidity.

The Author

Jerome M. Schneider

Head of Short-Term Portfolio Management

Scott A. Mather

CIO U.S. Core Strategies

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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 and summary prospectus, if available, which may be obtained by contacting your investment professional or PIMCO representative. Click here for a complete list of the PIMCO Funds prospectuses and summary prospectuses. Please read them carefully before you invest or send money.

A word about risk:
The PIMCO funds are not federally guaranteed and it is possible to lose money investing in a fund. 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 the current low interest rate environment increases this risk. Current 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. 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. Mortgage- and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market's perception of issuer creditworthiness; while generally supported by some form of government or private guarantee, there is no assurance that private guarantors will meet their obligations. High-yield, lower-rated, securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Equities may decline in value due to both real and perceived general market, economic, and industry conditions. 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.

Money market funds may only invest in certain high quality short term investments issued by the U.S. government, U.S. corporations, and state and local governments that are subject to strict diversification and maturity standards and ultra-short bond funds are not subject to these requirements. Further, money market funds seek to maintain a stable NAV of $1.00 per share.

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 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.

Different fund types (e.g. ETFs, open-ended investment companies) and fund share classes are subject to different fees and expenses (which may affect performance). They may also have different minimum investment requirements and be entitled to different services.

Foreign (non-U.S.) fixed income securities will settle in accordance with the normal rules of settlement in the applicable foreign (non-U.S.) market. Foreign holidays that may impact a foreign market may extend the period of time between the date of receipt of a redemption order and the redemption settlement date. Please see the Funds Statement of Additional Information at www.pimcoetfs.com.

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. Premiums (when market price is above NAV) or discounts (when market price is below NAV) reflect 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 discount or premium could be significant. Data in chart format displaying the frequency distribution of discounts and premiums of the Market Price against the NAV can be found for each Fund at www.pimcoetfs.com.

Premiums (when market price is above NAV) or discounts (when market price is below NAV) reflect 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 discount or premium could be significant. Data in chart format displaying the frequency distribution of discounts and premiums of the Market Price against the NAV can be found for each Fund at www.pimcoetfs.com.

Morningstar Rating™ as of 31 October 2017 for the institutional share class; other classes may have different performance characteristics. The PIMCO Short-Term Fund was rated against the following numbers of Ultrashort Bond funds over the following time periods: Overall 5 Stars (135 funds rated); 3 Yrs. 5 Stars (135 funds rated); 5 Yrs. 5 Stars (102 funds rated); 10 Yrs. 5 Stars (55 funds rated). The PIMCO Short-Asset Investment Fund was rated against the following numbers of Ultrashort Bond funds over the following time periods: Overall 4 Stars (135 funds rated); 3 Yrs. 4 Stars (135 funds rated); 5 Yrs. 4 Stars (102 funds rated). The PIMCO Low Duration Fund was rated against the following numbers of Short-Term Bond funds over the following time periods: Overall 4 Stars (460 funds rated); 3 Yrs. 3 Stars (460 funds rated); 5 Yrs. 3 Stars (384 funds rated); 10 Yrs. 4 Stars (257 funds rated). The PIMCO Enhanced Short Maturity Active Exchange-Traded Fund was rated against the following numbers of Ultrashort Bond funds over the following time periods: Overall 4 Stars (135 funds rated); 3 Yrs. 4 Stars (135 funds rated); 5 Yrs. 4 Stars (102 funds rated). The PIMCO Low Duration Active Exchange-Traded Fund was rated against the following numbers of Short-Term Bond funds over the following time periods: Overall 5 Stars (460 funds rated); 3 Yrs. 5 Stars (460 funds rated). Past performance is no guarantee of future results. The 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.® 2017. 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.


Morningstar Awards 2017©. Morningstar, Inc.
All Rights Reserved. Awarded to Jerome Schneider and team for Fixed-Income Fund Manager of the Year (PIMCO Short-Term Fund (PTSHX)), U.S.

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