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Name

As of 12/19/2024

Price

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

PIMCO High Yield Municipal Bond Fund

PHMIX | Fund

$8.43

$5.2 B

4.47%

$0.38

0.56%

Vitals

YTD Return

4.1%

1 yr return

4.3%

3 Yr Avg Return

-0.5%

5 Yr Avg Return

2.0%

Net Assets

$5.2 B

Holdings in Top 10

18.3%

52 WEEK LOW AND HIGH

$8.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.56%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 34.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/19/2024

Price

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

PIMCO High Yield Municipal Bond Fund

PHMIX | Fund

$8.43

$5.2 B

4.47%

$0.38

0.56%

PHMIX - Profile

Distributions

  • YTD Total Return 4.1%
  • 3 Yr Annualized Total Return -0.5%
  • 5 Yr Annualized Total Return 2.0%
  • Capital Gain Distribution Frequency Monthly
  • Net Income Ratio 3.28%
DIVIDENDS
  • Dividend Yield 4.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    PIMCO High Yield Municipal Bond Fund
  • Fund Family Name
    PIMCOFUNDS
  • Inception Date
    Aug 02, 2006
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Hammer

Fund Description

The Fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets in debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal income tax (“Municipal Bonds”). Municipal Bonds generally are issued by or on behalf of states and local governments and their agencies, authorities and other instrumentalities.The Fund intends to invest a portion of its assets in high yield Municipal Bonds and “private activity” bonds that are rated (at the time of purchase) below investment grade by Moody’s Investors Service, Inc. (“Moody’s”), or equivalently rated by Standard & Poor’s Ratings Services (“S&P”) or Fitch Ratings, Inc. (“Fitch”), or, if unrated, determined by PIMCO to be of comparable quality (commonly known as “junk bonds”). 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 also invest, without limitation, in higher rated Municipal Bonds. The Fund may invest up to 30% of its assets in “private activity” bonds whose interest is a tax-preference item for purposes of the federal alternative minimum tax (“AMT”). For shareholders subject to the AMT, distributions derived from “private activity” bonds must be included in their AMT calculations, and as such a portion of the Fund’s distribution may be subject to federal income tax. The Fund may invest more than 25% of its total assets in bonds of issuers in California and New York. To the extent that the Fund concentrates its investments in California or New York, it will be subject to the applicable state-specific risk. The Fund may also invest in Municipal Bonds issued by Puerto Rico or its instrumentalities. The Fund may also invest 25% or more of its total assets in Municipal Bonds that finance education, health care, housing, transportation, utilities and other similar projects, and 25% or more of its total assets in industrial development bonds.The average portfolio duration of this Fund normally varies within (negative) 2 years to positive 4 years of the portfolio duration of the securities comprising the Bloomberg High Yield Municipal Bond Index, as calculated by PIMCO, which as of May 31, 2024 was 6.91 years. 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 portfolio manager focuses on Municipal Bonds with the potential to offer high current income, typically looking for Municipal Bonds that can provide consistently attractive current yields or that are trading at competitive market prices. The “total return” sought by the Fund consists of both income earned on its investments and capital appreciation, if any, generally arising from decreases in interest rates or improving credit fundamentals for a particular state, municipality or issuer.The Fund may invest in other types of Fixed Income Instruments. “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 may also invest in derivative instruments, such as options, futures contracts or swap agreements, and invest in mortgage- or asset-backed securities. The Fund may purchase or sell securities on a when-issued, delayed delivery or forward commitment basis and may engage in short sales. In addition, the Fund may also invest in securities issued by entities, such as trusts, whose underlying assets are Municipal Bonds, including, without limitation, residual interest bonds. 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 also invest up to 10% of its total assets in preferred securities.
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PHMIX - Performance

Return Ranking - Trailing

Period PHMIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.1% -3.1% 12.1% 46.77%
1 Yr 4.3% -2.2% 12.7% 45.77%
3 Yr -0.5%* -9.0% 3.6% 16.33%
5 Yr 2.0%* -5.1% 3.5% 5.64%
10 Yr 4.0%* -0.7% 155.3% 5.51%

* Annualized

Return Ranking - Calendar

Period PHMIX Return Category Return Low Category Return High Rank in Category (%)
2023 3.8% -6.2% 7.5% 21.78%
2022 -16.6% -26.9% -3.5% 38.19%
2021 1.6% -1.9% 5.6% 67.01%
2020 2.3% -4.0% 4.2% 8.16%
2019 6.0% -0.7% 9.1% 26.84%

Total Return Ranking - Trailing

Period PHMIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.1% -3.1% 12.1% 46.77%
1 Yr 4.3% -2.2% 12.7% 45.77%
3 Yr -0.5%* -9.0% 3.6% 16.33%
5 Yr 2.0%* -5.1% 3.5% 5.64%
10 Yr 4.0%* -0.7% 155.3% 5.51%

* Annualized

Total Return Ranking - Calendar

Period PHMIX Return Category Return Low Category Return High Rank in Category (%)
2023 9.4% -4.1% 10.9% 5.94%
2022 -12.6% -26.9% 4.3% 29.15%
2021 5.8% -1.9% 10.0% 40.61%
2020 6.5% -2.6% 8.2% 5.61%
2019 10.5% -0.7% 1028633.9% 15.26%

NAV & Total Return History

PHMIX - Holdings

Concentration Analysis

PHMIX Category Low Category High PHMIX % Rank
Net Assets 5.2 B 3.1 M 15.6 B 16.00%
Number of Holdings 782 20 3325 30.15%
Net Assets in Top 10 944 M -102 M 1.96 B 10.55%
Weighting of Top 10 18.30% 4.6% 98.9% 22.11%

Top 10 Holdings

  1. PIMCO PRV SHORT TERM FLT III MUTUAL FUND 10.86%
  2. PUERTO RICO CMWLTH PRC 11/51 ADJUSTABLE VAR 1.08%
  3. PUERTO RICO SALES TAX FING COR PRCGEN 07/58 FIXED OID 5 1.03%
  4. ILLINOIS ST 02/35 5 0.89%
  5. BUCKEYE OH TOBACCO SETTLEMENT BUCGEN 06/55 FIXED 5 0.83%
  6. PUERTO RICO SALES TAX FING COR PRCGEN 07/46 ZEROCPNOID 0 0.81%
  7. CALIFORNIA ST INFRASTRUCTURE CASDEV 01/50 ADJUST OID VAR 0.74%
  8. PUERTO RICO SALES TAX FING COR PRCGEN 07/51 ZEROCPNOID 0 0.71%
  9. TEXAS WTR DEV BRD ST WTR IMPLE TXSWTR 10/52 FIXED 4.8 0.68%
  10. CALIFORNIA HSG FIN AGY LTD OBL CASMFH 03/53 ADJUSTABLE VAR 0.67%

Asset Allocation

Weighting Return Low Return High PHMIX % Rank
Bonds 		90.94% 0.00% 146.69% 94.06%
Cash 		10.86% -0.64% 10.86% 0.50%
Stocks 		0.00% 0.00% 99.72% 46.04%
Preferred Stocks 		0.00% -47.61% 0.00% 27.64%
Other 		0.00% -5.67% 5.07% 36.68%
Convertible Bonds 		0.00% 0.00% 0.00% 22.11%

Bond Sector Breakdown

Weighting Return Low Return High PHMIX % Rank
Municipal 		84.73% 50.68% 100.00% 95.98%
Cash & Equivalents 		10.86% 0.00% 10.86% 0.50%
Corporate 		2.11% 0.00% 2.83% 3.52%
Securitized 		0.20% 0.00% 22.44% 1.01%
Derivative 		0.00% -7.70% 2.16% 31.16%
Government 		0.00% 0.00% 0.09% 26.13%

Bond Geographic Breakdown

Weighting Return Low Return High PHMIX % Rank
US 		90.94% 0.00% 139.84% 91.46%
Non US 		0.00% 0.00% 13.35% 30.15%

PHMIX - Expenses

Operational Fees

PHMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.56% 0.22% 3.44% 91.58%
Management Fee 0.55% 0.00% 1.41% 76.73%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.25% 0.02% 0.35% 88.33%

Sales Fees

PHMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

PHMIX 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.

PHMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 34.00% 2.00% 121.00% 74.33%

PHMIX - Distributions

Dividend Yield Analysis

PHMIX Category Low Category High PHMIX % Rank
Dividend Yield 4.47% 0.00% 5.94% 8.91%

Dividend Distribution Analysis

PHMIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

PHMIX Category Low Category High PHMIX % Rank
Net Income Ratio 3.28% 1.11% 5.44% 41.58%

Capital Gain Distribution Analysis

PHMIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Monthly Annually Annually Annually

Distributions History

View More +

PHMIX - Fund Manager Analysis

Managers

David Hammer

Start Date

Tenure

Tenure Rank

Aug 20, 2015

6.78

6.8%

Mr. Hammer is an executive vice president in the New York office and head of municipal bond portfolio management. He rejoined PIMCO in 2015 from Morgan Stanley, where he was managing director and head of municipal trading, risk management and research. Previously at PIMCO, he was a senior vice president and municipal bond portfolio manager, and prior to joining PIMCO in 2012, he was an executive director and head of the high yield and distressed municipal bond trading group at Morgan Stanley. He has 17 years of investment experience and holds an undergraduate degree from Syracuse University.

Rachel Betton

Start Date

Tenure

Tenure Rank

Jan 03, 2020

2.41

2.4%

Ms. Betton is a senior vice president and municipal bond portfolio manager in the New York office. Prior to joining PIMCO in 2013, she was a municipal high yield and distressed trader at Morgan Stanley. Additionally, she was a public finance banker, focusing on municipal asset-backed securitizations and revenue-backed credits in the Midwest. She has 11 years of investment and financial services experience and holds an undergraduate degree from Wesleyan University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 21.43 7.58 2.52

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