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PCRIX PIMCO Commodity Real Ret Strat Instl

  • Fund
  • PCRIX
  • Price as of: May 24, 2019
  • $5.88 + $0.06 + 1.03%
  • Category
  • Diversified Portfolio

PCRIX - Profile

Vitals

  • YTD Return 6.1%
  • 3 Yr Annualized Return -5.3%
  • 5 Yr Annualized Return -24.7%
  • Net Assets $5.16 B
  • Holdings in Top 10 112.0%

52 WEEK LOW AND HIGH

$5.88
$5.54
$7.02

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.39%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 148.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

N/A

Investment Themes

CATEGORY

Diversified Portfolio
  • Fund Type Open End Mutual Fund
  • Investment Style Commodities Broad Basket

Distributions

  • YTD Total Return 6.1%
  • 3 Yr Annualized Total Return -1.3%
  • 5 Yr Annualized Total Return -21.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.05%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name PIMCO Commodity Real Return Strategy Fund
  • Fund Family Name PIMCO
  • Inception Date Jun 28, 2002
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Mihir P. Worah

Fund Description

The PIMCO Commodity RealReturn Strategy Fund Institutional Class (PCRIX) is a low-cost, actively managed fund that is designed to seek real return (meaning after inflation). The fund does this by betting on commodities futures via the Bloomberg Commodity Index Total Return, an index of futures contracts on 20 physical commodities. PCRIX collateralizes its futures positions with Treasury Inflation-Protected Securities (TIPS), which have inflation-linked coupons. The fund aims to provide a return that beats inflation over time.

Given the fund’s focus on real return after inflation, PCRIX makes for an ideal core position in a portfolio as the commodity anchor. The fund is managed by Pacific Investment Management Company.

PCRIX - Performance

Return Ranking - Trailing

Period PCRIX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.1% -3.6% 18.6% 50.66%
1 Yr -16.4% -27.6% 10.7% 97.15%
3 Yr -5.3%* -9.2% 14.1% 98.40%
5 Yr -24.7%* -24.5% 8.6% 99.93%
10 Yr -14.6%* -14.3% 9.7% 99.89%

* Annualized


Return Ranking - Calendar

Period PCRIX Return Category Return Low Category Return High Rank in Category (%)
2018 -18.2% -34.6% 1.6% 92.90%
2017 -5.4% -12.4% 33.2% 98.60%
2016 13.5% -65.8% 23.3% 1.92%
2015 -64.8% -64.9% 4.8% 99.94%
2014 -18.4% -59.3% 68.3% 98.79%

Total Return Ranking - Trailing

Period PCRIX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.1% -3.6% 18.6% 51.55%
1 Yr -13.4% -25.5% 11.4% 95.57%
3 Yr -1.3%* -9.2% 14.1% 93.66%
5 Yr -21.9%* -21.8% 47.6% 99.93%
10 Yr -8.5%* -12.6% 13.3% 99.78%

* Annualized


Total Return Ranking - Calendar

Period PCRIX Return Category Return Low Category Return High Rank in Category (%)
2018 -15.2% -32.7% 1.6% 92.77%
2017 2.7% -8.4% 33.2% 95.02%
2016 14.2% -65.2% 23.3% 3.78%
2015 -62.8% -62.9% 9.2% 99.94%
2014 -18.1% -28.5% 76.9% 99.33%

NAV & Total Return History

PCRIX - Holdings

Concentration Analysis

PCRIX Category Low Category High PCRIX % Rank
Net Assets 5.16 B 608 K 144 B 12.46%
Number of Holdings 898 2 13342 15.81%
Net Assets in Top 10 3.26 B -752 M 26.4 B 10.50%
Weighting of Top 10 112.04% 0.0% 3196.0% 3.29%

Top 10 Holdings

  1. Pimco Cayman Cmdty Fd Ltd Instl 17.61%

  2. 90 Day Eurodollar Future June19 15.97%

  3. 90 Day Eurodollar Future June20 15.82%

  4. United States Treasury Notes 0.12% 13.63%

  5. United States Treasury Notes 0.12% 11.43%

  6. Federal National Mortgage Association 4% 8.18%

  7. U.S. Treasury Bond Mar19 7.85%

  8. Federal National Mortgage Association 3.5% 7.66%

  9. United States Treasury Notes 0.12% 7.03%

  10. US 10 Year Note (CBT) Mar19 6.84%


Asset Allocation

Weighting Return Low Return High PCRIX % Rank
Bonds
103.44% -342.57% 261.66% 1.64%
Other
2.21% -253.31% 51.84% 16.95%
Convertible Bonds
0.70% -0.09% 39.88% 23.47%
Preferred Stocks
0.04% 0.00% 65.70% 58.00%
Stocks
0.00% -18.54% 99.89% 99.49%
Cash
-6.38% -285.07% 453.71% 96.65%

Bond Sector Breakdown

Weighting Return Low Return High PCRIX % Rank
Government
58.16% -203.24% 254.66% 2.15%
Securitized
24.54% 0.00% 43.20% 4.43%
Corporate
23.04% 0.00% 93.54% 26.94%
Municipal
0.00% 0.00% 99.76% 97.47%
Derivative
-1.18% -190.53% 70.06% 95.32%
Cash & Equivalents
-6.76% -278.69% 455.04% 96.46%

Bond Geographic Breakdown

Weighting Return Low Return High PCRIX % Rank
US
95.08% -337.34% 210.96% 1.83%
Non US
8.36% -84.44% 144.19% 27.13%

PCRIX - Expenses

Operational Fees

PCRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.39% 0.00% 11.64% 26.06%
Management Fee 0.74% 0.00% 2.50% 80.52%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.25% 0.00% 0.83% 93.68%

Sales Fees

PCRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.14% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

PCRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.11% 2.00% N/A

Turnover 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.

PCRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 148.00% 0.00% 6067.00% 89.31%

PCRIX - Distributions

Dividend Yield Analysis

PCRIX Category Low Category High PCRIX % Rank
Dividend Yield 0.06% 0.00% 0.31% 1.08%

Dividend Distribution Analysis

PCRIX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Quarterly

Dividend Payout History


Net Income Ratio Analysis

PCRIX Category Low Category High PCRIX % Rank
Net Income Ratio 2.05% -4.09% 6.99% 31.50%

Capital Gain Distribution Analysis

PCRIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

PCRIX - Managers

Mihir P. Worah

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2007

11.34

11.3%

Mr. Worah is CIO Asset Allocation and Real Return and a managing director in the Newport Beach office. He is a member of the Investment Committee and the Executive Committee, and oversees portfolio management for the U.S. He is a generalist portfolio manager who manages a variety of fixed income, commodity and multi-asset portfolios.


Nicholas J. Johnson

Manager

Start Date

Tenure

Tenure Rank

Jan 02, 2015

4.33

4.3%

. Johnson is a managing director in the Newport Beach office and a portfolio manager focusing on commodity, quantitative and multi-asset strategies. He specializes in structural risk premiums as well as overall portfolio construction, and leads the quantitative strategies portfolio management group. In 2012 he co-authored “Intelligent Commodity Indexing,” published by McGraw-Hill. Prior to joining PIMCO in 2004, he was a research fellow at NASA's Jet Propulsion Laboratory, helping to develop Mars missions and new methods of autonomous navigation. He has 14 years of investment experience and holds a master’s degree in financial mathematics from the University of Chicago and an undergraduate degree from California Polytechnic State University.


Greg E. Sharenow

Manager

Start Date

Tenure

Tenure Rank

Nov 01, 2018

0.49

0.5%

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.


Stephen A. Rodosky

Manager

Start Date

Tenure

Tenure Rank

Jan 09, 2019

0.3

0.3%

Mr. Rodosky is a managing director in the Newport Beach office and a portfolio manager covering Treasury bonds, agencies and futures. He is the lead portfolio manager for long duration strategies. Prior to joining PIMCO in 2001, Mr. Rodosky was vice president of institutional sales with Merrill Lynch. He has 22 years of investment experience and holds a master's degree in financial markets from Illinois Institute of Technology. He received an undergraduate degree from Villanova University.


Tenure Analysis

Category Low

0.0

Category High

38.35

Category Average

6.56

Category Mode

6.95