PCRIX: PIMCO Commodity Real Ret Strat Instl

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PCRIX PIMCO Commodity Real Ret Strat Instl

  • Fund
  • PCRIX
  • Price as of: Dec 04, 2019
  • $5.73
    + $0.05 + 0.88%

Profile

PCRIX - Profile

Vitals

  • YTD Return 3.4%
  • 3 Yr Annualized Return -7.5%
  • 5 Yr Annualized Return -21.8%
  • Net Assets $3.96 B
  • Holdings in Top 10 130.6%

52 WEEK LOW AND HIGH

$5.73
$5.54
$6.20

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.60%

SALES FEES

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

BROKERAGE FEES

  • Turnover 226.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000,000
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Commodities Broad Basket

Distributions

  • YTD Total Return 3.4%
  • 3 Yr Annualized Total Return -3.7%
  • 5 Yr Annualized Total Return -18.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.50%
DIVIDENDS
  • Dividend Yield 2.2%
  • 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.


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Categories

Fund Company Quick Screens

PCRIX - Fund Company Quick Screens


Performance

PCRIX - Performance

Return Ranking - Trailing

Period PCRIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -10.0% 11.5% 52.73%
1 Yr -6.2% -32.7% 6.8% 55.05%
3 Yr -7.5%* -13.3% 2.3% 76.60%
5 Yr -21.8%* -21.9% -3.0% 98.75%
10 Yr -16.2%* -16.3% 18.0% 96.15%

* Annualized

Return Ranking - Calendar

Period PCRIX Return Category Return Low Category Return High Rank in Category (%)
2018 -18.2% -42.9% -0.2% 65.31%
2017 -5.4% -13.1% 10.5% 91.49%
2016 13.5% 3.1% 22.1% 15.05%
2015 -64.8% -64.9% -7.2% 98.80%
2014 -18.4% -34.3% 669.0% 56.94%

Total Return Ranking - Trailing

Period PCRIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -10.0% 11.5% 52.73%
1 Yr -6.2% -32.7% 6.8% 64.22%
3 Yr -3.7%* -13.3% 3.2% 61.70%
5 Yr -18.9%* -19.1% -2.4% 98.75%
10 Yr -10.5%* -12.3% 21.3% 84.62%

* Annualized

Total Return Ranking - Calendar

Period PCRIX Return Category Return Low Category Return High Rank in Category (%)
2018 -15.2% -42.9% -0.2% 60.20%
2017 2.7% -8.3% 10.9% 54.26%
2016 14.2% 3.1% 23.2% 18.28%
2015 -62.8% -62.9% -7.2% 98.80%
2014 -18.1% -34.3% 698.3% 55.56%

NAV & Total Return History


Holdings

PCRIX - Holdings

Concentration Analysis

PCRIX Category Low Category High PCRIX % Rank
Net Assets 3.96 B 1.24 M 7.86 B 6.31%
Number of Holdings 958 2 958 5.41%
Net Assets in Top 10 2.94 B -12.4 M 2.94 B 5.41%
Weighting of Top 10 130.56% 0.0% 166.9% 11.71%

Top 10 Holdings

  1. Euro Schatz Sept19 28.32%
  2. Pimco Cayman Cmdty Fd Ltd Instl 23.48%
  3. United States Treasury Notes 0.12% 17.53%
  4. Euro BUND Future Sept19 15.82%
  5. Federal National Mortgage Association 3.5% 11.84%
  6. Trs R 2.62/912828k33 Myc 7.83%
  7. Euro OAT Sept19 7.46%
  8. United States Treasury Bonds 2.38% 6.44%
  9. Irs Usd 2.25000 12/20/17-5y Cme 5.93%
  10. United States Treasury Notes 0.62% 5.89%

Asset Allocation

Weighting Return Low Return High PCRIX % Rank
Bonds
66.57% 0.00% 85.57% 36.04%
Other
37.64% -2.17% 109.24% 29.73%
Convertible Bonds
0.59% 0.00% 2.07% 24.32%
Stocks
0.00% 0.00% 48.90% 77.48%
Preferred Stocks
0.00% 0.00% 0.00% 64.86%
Cash
-4.81% -41.68% 100.51% 90.99%

Bond Sector Breakdown

Weighting Return Low Return High PCRIX % Rank
Government
38.85% -13.32% 85.57% 21.62%
Securitized
28.80% 0.00% 40.46% 12.61%
Corporate
4.60% 0.00% 56.42% 44.14%
Municipal
0.00% 0.00% 0.45% 71.17%
Cash & Equivalents
-4.61% -41.68% 100.51% 90.99%
Derivative
-5.28% -20.20% 1.58% 98.20%

Bond Geographic Breakdown

Weighting Return Low Return High PCRIX % Rank
US
78.89% 0.00% 85.57% 6.31%
Non US
-12.32% -12.32% 25.66% 99.10%

Expenses

PCRIX - Expenses

Operational Fees

PCRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.60% 0.01% 12.59% 43.64%
Management Fee 0.74% 0.00% 1.75% 32.43%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.25% 0.01% 0.45% 79.03%

Sales Fees

PCRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

PCRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

PCRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 226.00% 0.00% 5463.00% 86.36%

Distributions

PCRIX - Distributions

Dividend Yield Analysis

PCRIX Category Low Category High PCRIX % Rank
Dividend Yield 2.17% 0.00% 47.02% 38.74%

Dividend Distribution Analysis

PCRIX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Annually

Net Income Ratio Analysis

PCRIX Category Low Category High PCRIX % Rank
Net Income Ratio 1.50% -1.16% 3.38% 20.91%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

PCRIX - Fund Manager Analysis

Managers

Mihir P. Worah


Start Date

Tenure

Tenure Rank

Dec 31, 2007

11.84

11.8%

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


Start Date

Tenure

Tenure Rank

Jan 02, 2015

4.83

4.8%

Nicholas J. 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


Start Date

Tenure

Tenure Rank

Nov 01, 2018

1.0

1.0%

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


Start Date

Tenure

Tenure Rank

Jan 09, 2019

0.81

0.8%

Mr. Rodosky is a managing director in the Newport Beach office and a portfolio manager for real return and U.S. long duration strategies. He serves as head of talent management for portfolio management in the U.S. and previously led the firm's U.S. rates team. Prior to joining PIMCO in 2001, Mr. Rodosky was vice president of institutional sales with Merrill Lynch. He has 25 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 Category High Category Average Category Mode
0.35 14.44 6.11 8.92