PIMCO CommoditiesPLUS Strategy Fund
Name
As of 11/21/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
5.7%
1 yr return
2.7%
3 Yr Avg Return
7.7%
5 Yr Avg Return
27.5%
Net Assets
$4.1 B
Holdings in Top 10
56.1%
52 WEEK LOW AND HIGH
$5.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 2.20%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/21/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
PCPCX - Profile
Distributions
- YTD Total Return 5.7%
- 3 Yr Annualized Total Return 7.7%
- 5 Yr Annualized Total Return 27.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -1.09%
- Dividend Yield 11.6%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NamePIMCO CommoditiesPLUS Strategy Fund
-
Fund Family NamePIMCOFUNDS
-
Inception DateJun 01, 2010
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerGreg Sharenow
Fund Description
The Fund seeks to achieve its investment objective by investing under normal circumstances in commodity-linked derivative instruments backed by an actively managed, low volatility portfolio of Fixed Income Instruments, and may also invest directly in commodities. “Fixed Income Instruments” include bonds, debt securities and other similar instruments issued by various U.S. and non-U.S. public-or private-sector entities. The Fund invests in commodity-linked derivative instruments, including swap agreements, futures, options on futures, commodity index-linked notes and commodity options that provide exposure to the investment returns of the commodities futures markets. Commodities are assets that have tangible properties, such as oil, metals, and agricultural products. The value of commodity-linked derivative instruments may be affected by overall market movements and other factors affecting the value of a particular industry or commodity, such as weather, disease, embargoes, or political and regulatory developments. When determining the target allocation for the strategy, PIMCO may use proprietary quantitative models. The target allocations may include long, short, or no positions in the underlying financial markets and commodities specified in the models. The quantitative models are developed and maintained by PIMCO, and are subject to change over time without notice in PIMCO’s discretion. PIMCO also retains discretion over the final target asset allocation and the implementation of the target asset allocation, which may include positions that are different from target allocations determined by quantitative models.The Fund will seek to gain exposure to the commodity futures markets primarily through investments in swap agreements and futures, and through investments in the PIMCO Cayman Commodity Fund III Ltd., a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”). In order to comply with certain issuer diversification limits imposed by the Internal Revenue Code, the Fund may invest up to 25% of its total assets in the Subsidiary. The Subsidiary is advised by PIMCO, and has the same investment objective as the Fund. As discussed in greater detail elsewhere in the prospectus, the Subsidiary (unlike the Fund) may invest without limitation in commodity-linked swap agreements, other commodity-linked derivative instruments and directly in commodities. The derivative instruments in which the Fund and the Subsidiary primarily intend to invest are instruments linked to certain commodity indices and instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts. These instruments may specify exposure to commodity futures with different roll dates, reset dates or contract months than those specified by a particular commodity index. As a result, the commodity-linked derivatives component of the Fund’s portfolio may deviate from the returns of any particular commodity index. The Fund or the Subsidiary may over-weight or under-weight its exposure to a particular commodity index, or a subset of commodities, such that the Fund has greater or lesser exposure to that index than the value of the Fund’s net assets, or greater or lesser exposure to a subset of commodities than is represented by a particular commodity index. Such deviations will frequently be the result of temporary market fluctuations, and under normal circumstances the Fund will seek to maintain notional exposure to one or more commodity indices within 5% (plus or minus) of the value of the Fund’s net assets.The Fund may also invest in leveraged or unleveraged commodity index-linked notes, which are derivative debt instruments with principal and/or coupon payments linked to the performance of commodity indices. These commodity index-linked notes are sometimes referred to as “structured notes” because the terms of these notes may be structured by the issuer and the purchaser of the note. The value of these notes will rise or fall in response to changes in the underlying commodity or related index of investment.Assets not invested in commodity-linked derivative instruments or the Subsidiary may be invested in Fixed Income Instruments, including derivative Fixed Income Instruments. In addition, the Fund may invest its assets in particular sectors of the commodities futures market. The average portfolio duration of the fixed income portion of this Fund will vary based on PIMCO’s market forecasts and under normal market conditions is not expected to exceed one year. Duration is a measure used to determine the sensitivity of a security’s price to changes in interest rates. The longer a security’s duration, the more sensitive it will be to changes in interest rates. The Fund may invest up to 10% of its total assets in high yield securities (“junk bonds”), as rated by Moody’s Investors Service, Inc. (“Moody’s”), Standard & Poor’s Ratings Services (“S&P”) or Fitch Ratings, Inc. (“Fitch”), or, if unrated, as determined by PIMCO. In the event that ratings services assign different ratings to the same security, PIMCO will use the highest rating as the credit rating for that security. The Fund may invest up to 20% of its total assets in securities denominated in foreign currencies and may invest without limit in U.S. dollar-denominated securities of foreign issuers. The Fund may invest up to 10% of its total assets in securities and instruments that are economically tied to emerging market countries (this limitation does not apply to investment grade sovereign debt denominated in the local currency with less than 1 year remaining to maturity, which means the Fund may invest, together with any other investments denominated in foreign currencies, up to 20% of its total assets in such instruments). The Fund will normally limit its foreign currency exposure (from non-U.S. dollar-denominated securities or currencies) to 10% of its total assets. The Fund may, without limitation, seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as buy backs or dollar rolls). The Fund may purchase and sell securities on a when-issued, delayed delivery or forward commitment basis and may engage in short sales.
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PCPCX - Performance
Return Ranking - Trailing
| Period | PCPCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.7% | -31.6% | 31.1% | 41.41% |
| 1 Yr | 2.7% | -42.1% | 33.0% | 43.75% |
| 3 Yr | 7.7%* | -40.8% | 276.4% | 23.81% |
| 5 Yr | 27.5%* | -29.6% | 133.8% | 9.76% |
| 10 Yr | 9.6%* | -28.1% | 47.2% | 11.24% |
* Annualized
Return Ranking - Calendar
| Period | PCPCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -5.2% | -64.0% | 30.1% | 21.88% |
| 2022 | -18.0% | -40.8% | 2475.6% | 84.25% |
| 2021 | 47.9% | -23.3% | 106.7% | 10.32% |
| 2020 | -10.5% | -71.9% | 295.5% | 79.67% |
| 2019 | 16.3% | -31.8% | 53.9% | 18.03% |
Total Return Ranking - Trailing
| Period | PCPCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.7% | -31.6% | 31.1% | 41.41% |
| 1 Yr | 2.7% | -42.1% | 33.0% | 43.75% |
| 3 Yr | 7.7%* | -40.8% | 276.4% | 23.81% |
| 5 Yr | 27.5%* | -29.6% | 133.8% | 9.76% |
| 10 Yr | 9.6%* | -28.1% | 47.2% | 11.24% |
* Annualized
Total Return Ranking - Calendar
| Period | PCPCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -2.0% | -64.0% | 41.1% | 25.78% |
| 2022 | 21.8% | -15.1% | 5648.8% | 17.32% |
| 2021 | 184.8% | -23.3% | 188.1% | 3.97% |
| 2020 | -10.3% | -67.8% | 296.1% | 80.49% |
| 2019 | 18.1% | -31.8% | 53.9% | 17.21% |
NAV & Total Return History
PCPCX - Holdings
Concentration Analysis
| PCPCX | Category Low | Category High | PCPCX % Rank | |
|---|---|---|---|---|
| Net Assets | 4.1 B | 2.34 M | 27.6 B | 4.46% |
| Number of Holdings | 829 | 1 | 1009 | 7.81% |
| Net Assets in Top 10 | 2.6 B | 2.66 M | 30.7 B | 14.84% |
| Weighting of Top 10 | 56.08% | 17.2% | 169.5% | 70.97% |
Top 10 Holdings
- PARIBAS REPO 21.40%
- REPO BANK AMERICA REPO 8.09%
- FNMA TBA 30 YR 4 SINGLE FAMILY MORTGAGE 4.80%
- GOLD CMX WR FAC 2001 JPM BOS 4.14%
- DEUTSCHE BANK REPO REPO 3.77%
- J P MORGAN TERM REPO 3.62%
- PIMCO SHORT ASSET PORTFOLIO MUTUAL FUND 3.23%
- RVPO CIBC WORLD MKTS INC 3.00%
- REPO BANK OF MONTREAL ZCP 2.05%
- TREASURY BILL 08/24 0.00000 1.98%
Asset Allocation
| Weighting | Return Low | Return High | PCPCX % Rank | |
|---|---|---|---|---|
| Other | 62.03% | -7.17% | 100.19% | 22.22% |
| Bonds | 38.37% | 0.00% | 127.91% | 44.53% |
| Cash | 4.72% | 0.00% | 101.92% | 76.19% |
| Convertible Bonds | 0.37% | 0.00% | 3.89% | 21.60% |
| Stocks | 0.00% | 0.00% | 49.72% | 31.25% |
| Preferred Stocks | 0.00% | 0.00% | 0.08% | 76.19% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | PCPCX % Rank | |
|---|---|---|---|---|
| Government | 20.89% | 0.00% | 100.00% | 51.33% |
| Securitized | 17.82% | 0.00% | 19.62% | 7.08% |
| Cash & Equivalents | 4.72% | 0.00% | 100.00% | 82.46% |
| Corporate | 2.27% | 0.00% | 42.72% | 33.63% |
| Derivative | 0.58% | -7.17% | 100.19% | 20.18% |
| Municipal | 0.10% | 0.00% | 1.45% | 10.62% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | PCPCX % Rank | |
|---|---|---|---|---|
| US | 25.39% | 0.00% | 116.12% | 50.79% |
| Non US | 12.98% | 0.00% | 12.98% | 2.38% |
PCPCX - Expenses
Operational Fees
| PCPCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 2.20% | 0.21% | 5.23% | 8.00% |
| Management Fee | 0.94% | 0.00% | 1.75% | 89.17% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 96.49% |
| Administrative Fee | 0.45% | 0.05% | 0.45% | 92.86% |
Sales Fees
| PCPCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 4.50% | 5.75% | N/A |
| Deferred Load | 1.00% | 1.00% | 4.00% | 90.91% |
Trading Fees
| PCPCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| PCPCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 162.00% | 97.25% |
PCPCX - Distributions
Dividend Yield Analysis
| PCPCX | Category Low | Category High | PCPCX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 11.63% | 0.00% | 19.94% | 51.59% |
Dividend Distribution Analysis
| PCPCX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annually | Annually | Annually |
Net Income Ratio Analysis
| PCPCX | Category Low | Category High | PCPCX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -1.09% | -55.71% | 52.26% | 84.00% |
Capital Gain Distribution Analysis
| PCPCX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 12, 2024 | $0.153 | OrdinaryDividend |
| Jun 13, 2024 | $0.142 | OrdinaryDividend |
| Mar 14, 2024 | $0.007 | OrdinaryDividend |
| Dec 26, 2023 | $0.101 | OrdinaryDividend |
| Sep 07, 2023 | $0.000 | OrdinaryDividend |
| Mar 09, 2023 | $0.080 | OrdinaryDividend |
| Dec 27, 2022 | $0.627 | OrdinaryDividend |
| Dec 07, 2022 | $0.006 | CapitalGainShortTerm |
| Sep 08, 2022 | $0.625 | OrdinaryDividend |
| Jun 09, 2022 | $0.828 | OrdinaryDividend |
| Mar 10, 2022 | $0.773 | OrdinaryDividend |
| Dec 28, 2021 | $0.000 | OrdinaryDividend |
| Sep 09, 2021 | $0.039 | OrdinaryDividend |
| Jun 07, 2021 | $5.689 | OrdinaryDividend |
| Dec 28, 2020 | $0.000 | OrdinaryDividend |
| Sep 10, 2020 | $0.000 | OrdinaryDividend |
| Jun 11, 2020 | $0.002 | OrdinaryDividend |
| Mar 12, 2020 | $0.005 | OrdinaryDividend |
| Dec 26, 2019 | $0.002 | OrdinaryDividend |
| Sep 12, 2019 | $0.032 | OrdinaryDividend |
| Jun 13, 2019 | $0.028 | OrdinaryDividend |
| Mar 14, 2019 | $0.014 | OrdinaryDividend |
| Dec 26, 2018 | $0.279 | OrdinaryDividend |
| Sep 13, 2018 | $0.251 | OrdinaryDividend |
| Jun 14, 2018 | $0.292 | OrdinaryDividend |
| Mar 15, 2018 | $0.000 | OrdinaryDividend |
| Dec 27, 2017 | $0.214 | OrdinaryDividend |
| Sep 14, 2017 | $0.248 | OrdinaryDividend |
| Jun 15, 2017 | $0.256 | OrdinaryDividend |
| Mar 16, 2017 | $0.000 | OrdinaryDividend |
| Jun 16, 2016 | $0.000 | OrdinaryDividend |
| Dec 29, 2015 | $0.005 | OrdinaryDividend |
| Sep 17, 2015 | $0.037 | OrdinaryDividend |
| Jun 18, 2015 | $0.020 | OrdinaryDividend |
| Dec 29, 2014 | $0.193 | OrdinaryDividend |
| Dec 10, 2014 | $0.012 | CapitalGainShortTerm |
| Sep 18, 2014 | $0.061 | OrdinaryDividend |
| Jun 19, 2014 | $0.077 | OrdinaryDividend |
| Dec 27, 2013 | $0.000 | OrdinaryDividend |
| Dec 11, 2013 | $0.010 | CapitalGainShortTerm |
| Dec 11, 2013 | $0.003 | CapitalGainLongTerm |
| Sep 19, 2013 | $0.000 | OrdinaryDividend |
| Jun 20, 2013 | $0.000 | OrdinaryDividend |
| Dec 27, 2012 | $0.000 | OrdinaryDividend |
| Dec 12, 2012 | $0.009 | CapitalGainShortTerm |
| Dec 12, 2012 | $0.002 | CapitalGainLongTerm |
| Sep 20, 2012 | $0.000 | OrdinaryDividend |
| Jun 21, 2012 | $0.000 | OrdinaryDividend |
| Dec 28, 2011 | $0.706 | OrdinaryDividend |
| Sep 15, 2011 | $0.471 | OrdinaryDividend |
| Jun 16, 2011 | $0.919 | OrdinaryDividend |
| Mar 17, 2011 | $0.000 | OrdinaryDividend |
| Dec 31, 2010 | $0.001 | OrdinaryDividend |
| Dec 08, 2010 | $0.037 | CapitalGainShortTerm |
| Dec 08, 2010 | $0.000 | CapitalGainLongTerm |
PCPCX - Fund Manager Analysis
Managers
Greg Sharenow
Start Date
Tenure
Tenure Rank
Jan 02, 2015
7.41
7.4%
Mr. Sharenow is an executive vice president in the Newport Beach office and a portfolio manager focusing on real assets. Prior to joining PIMCO in 2011, he was an energy trader at Hess Energy Trading, Goldman Sachs, and DE Shaw. Mr. Sharenow was previously senior energy economist at Goldman Sachs. He holds bachelor's degrees in mathematical methods in the social sciences and in economics from Northwestern University.
Bryan Tsu
Start Date
Tenure
Tenure Rank
Feb 01, 2022
0.33
0.3%
Mr. Tsu is a senior vice president and portfolio manager in the Newport Beach office, focusing on commercial mortgage-backed securities (CMBS) and collateralized loan obligations (CLOs). Prior to joining Pacific Investment Management Company LLC in 2008, he worked at Bear Stearns in New York, syndicating collateralized loan and collateralized debt obligations and other asset-backed transactions. He has eight years of investment experience and holds a bachelor's degree in economics and operations research from Columbia University.Mr. Tsu is one of Executive Vice Presidents of Pacific Investment Management Company LLC.
Andrew Dewitt
Start Date
Tenure
Tenure Rank
Feb 01, 2022
0.33
0.3%
Senior Vice President, PIMCO. Mr. DeWitt is a portfolio manager in the Newport Beach office, focusing on commodity and multi-real asset strategies. Previously, he managed PIMCO’s portfolio associate group and focused on portfolio optimization and other technology initiatives. He has investment experience since 2006 and holds undergraduate degrees in economics and sociology from Brown University.
Lewis Hagedorn
Start Date
Tenure
Tenure Rank
Feb 01, 2022
0.33
0.3%
Executive Vice President, PIMCO. Mr. Hagedorn is a commodities portfolio manager in the Newport Beach office. He has spent the entirety of his career in commodity markets, with a primary focus on agriculture. Prior to joining PIMCO in 2018, he was a proprietary trader at TrailStone Group in London, and previously worked at Citadel and Brevan Howard. Mr. Hagedorn began his career as an economist for the Chicago Board of Trade before joining J.P. Morgan, where he was head of agricultural commodities research and strategy. He has investment experience since 2005 and holds a master of science degree in agricultural economics and undergraduate degrees in economics and psychology from the University of Illinois at Urbana-Champaign.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.33 | 17.03 | 6.11 | 11.51 |