Putting Cash to Work | Short-Term Investment Strategies

Explore PIMCO's Short-Term Strategies

  • 5 stars

    PIMCO Short-Term Fund1

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

  • 4 stars
  • 4 stars
  • 4 stars
  • 5 stars
  • 1 Overall Morningstar Rating™ among 156 ultrashort bond funds. Based on risk-adjusted returns as of 04/30/2019
    2 Overall Morningstar Rating™ among 481 short-term bond funds. Based on risk-adjusted returns as of 04/30/2019

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Portfolio Managers

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.

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.

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.

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.

Investing in the bond market is subject to certain risks including the risk that fixed income securities will decline in value because of changes in interest rates; the risk that fund shares could trade at prices other than the net asset value; and the risk that the manager's investment decisions might not produce the desired results.

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 30 April 2019 for the institutional share class; other classes may have different performance characteristics. A rating is not a recommendation to buy, sell or hold a fund. The PIMCO Short-Term Fund was rated against the following numbers of Ultrashort Bond funds over the following time periods: Overall 5 Stars (156 funds rated); 3 Yrs. 5 Stars (156 funds rated); 5 Yrs. 5 Stars (131 funds rated); 10 Yrs. 4 Stars (59 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 (156 funds rated); 3 Yrs. 4 Stars (156 funds rated); 5 Yrs. 4 Stars (131 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 (481 funds rated); 3 Yrs. 3 Stars (481 funds rated); 5 Yrs. 3 Stars (419 funds rated); 10 Yrs. 4 Stars (269 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 (156 funds rated); 3 Yrs. 4 Stars (156 funds rated); 5 Yrs. 4 Stars (131 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 (481 funds rated); 3 Yrs. 4 Stars (481 funds rated); 5 Yrs. 5 Stars (419 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% rece