PIMCO TRENDS Managed Futures Strategy Fund
Name
As of 11/22/2024Price
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
-4.6%
1 yr return
-0.9%
3 Yr Avg Return
-0.7%
5 Yr Avg Return
5.1%
Net Assets
$2.91 B
Holdings in Top 10
75.9%
52 WEEK LOW AND HIGH
$10.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 2.97%
SALES FEES
Front Load 5.50%
Deferred Load N/A
TRADING FEES
Turnover 35.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/22/2024Price
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
PQTAX - Profile
Distributions
- YTD Total Return -4.6%
- 3 Yr Annualized Total Return -0.7%
- 5 Yr Annualized Total Return 5.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -1.56%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NamePIMCO TRENDS Managed Futures Strategy Fund
-
Fund Family NamePIMCOFUNDS
-
Inception DateDec 31, 2013
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMatthew Dorsten
Fund Description
The Fund seeks to achieve its investment objective by pursuing a quantitative trading strategy intended to capture the persistence of price trends (up and/or down) observed in global financial markets and commodities. The Fund’s investment strategy represents a composite of financial and commodity derivatives, and may also include certain direct investments (such as in Fixed Income Instruments), designed to provide exposure to global financial market and commodity price trends. Within the strategy’s allocations, investments are positioned either long or short based on various characteristics related to their prices. When determining the target allocation for the strategy, PIMCO uses 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 differ from target allocations determined by quantitative models.The Fund will invest under normal circumstances in derivative instruments linked to interest rates, currencies, mortgages, credit, commodities (including individual commodities and commodity indices), equities and equity-related investments, and volatility-related instruments, and may also invest directly in mortgage-related and other asset-backed securities. The Fund invests in derivative instruments, including futures, options on futures, options and swap agreements. The Fund may invest in derivative instruments on a speculative basis. The Fund’s investments in derivative instruments will generally be backed by a short to intermediate duration portfolio which may consist of cash equivalent securities and 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 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 VIII, 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 and other commodity-linked derivative instruments. 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. The Fund and the Subsidiary may also invest in physical commodities.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.In addition, the Fund may invest its assets in particular sectors of the commodities futures market.The Fund may invest in high yield securities (“junk bonds”) rated 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. 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 without limitation in securities denominated in foreign currencies and in U.S. dollar-denominated securities of foreign issuers. The Fund may obtain foreign currency exposure (from non-U.S. dollar-denominated securities or currencies) without limitation. The Fund may invest without limitation in securities and instruments that are economically tied to emerging market countries. 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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PQTAX - Performance
Return Ranking - Trailing
| Period | PQTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -4.6% | -7.4% | 14.6% | 62.77% |
| 1 Yr | -0.9% | -16.1% | 36.5% | 56.99% |
| 3 Yr | -0.7%* | -7.9% | 13.3% | 15.73% |
| 5 Yr | 5.1%* | -5.3% | 10.0% | 21.69% |
| 10 Yr | 2.8%* | -2.4% | 4.3% | N/A |
* Annualized
Return Ranking - Calendar
| Period | PQTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -4.5% | -16.4% | 12.9% | 40.86% |
| 2022 | -3.0% | -9.3% | 17.5% | 33.70% |
| 2021 | 12.0% | -25.8% | 2.2% | 5.81% |
| 2020 | 3.7% | -5.1% | 21.0% | 52.63% |
| 2019 | 0.3% | -20.3% | 4.6% | 8.45% |
Total Return Ranking - Trailing
| Period | PQTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -4.6% | -7.4% | 14.6% | 62.77% |
| 1 Yr | -0.9% | -20.3% | 36.5% | 77.42% |
| 3 Yr | -0.7%* | -9.0% | 11.1% | 33.71% |
| 5 Yr | 5.1%* | -5.7% | 8.7% | 36.14% |
| 10 Yr | 2.8%* | -2.4% | 4.3% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | PQTAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -4.5% | -16.4% | 12.9% | 40.86% |
| 2022 | 11.0% | -9.3% | 17.5% | 33.70% |
| 2021 | 14.5% | -20.3% | 2.5% | 10.47% |
| 2020 | 8.5% | -5.1% | 21.0% | 65.79% |
| 2019 | 2.5% | -20.3% | 6.7% | 15.49% |
NAV & Total Return History
PQTAX - Holdings
Concentration Analysis
| PQTAX | Category Low | Category High | PQTAX % Rank | |
|---|---|---|---|---|
| Net Assets | 2.91 B | 2.12 M | 1.74 B | 22.34% |
| Number of Holdings | 1221 | 3 | 876 | 3.19% |
| Net Assets in Top 10 | 2.06 B | -100 M | 2.04 B | 11.70% |
| Weighting of Top 10 | 75.87% | 20.3% | 94.0% | 40.74% |
Top 10 Holdings
- PIMCO SHORT ASSET PORTFOLIO MUTUAL FUND 29.08%
- RVPO CIBC WORLD MKTS INC 8.63%
- GOLD CMX WR FAC 5001 HSBC SOC 8.23%
- DEUTSCHE BANK REPO REPO 6.41%
- GNMA II TBA 30 YR 6 JUMBOS 5.28%
- APPLE INC COMMON STOCK USD.00001 5.21%
- RVPO CIBC WORLD MKTS INC 4.85%
- GOLD CMX WR FAC 2001 JPM SOC 3.42%
- FNMA TBA 30 YR 6.5 SINGLE FAMILY MORTGAGE 2.80%
- FNMA TBA 15 YR 5 SINGLE FAMILY MORTGAGE 1.94%
Asset Allocation
| Weighting | Return Low | Return High | PQTAX % Rank | |
|---|---|---|---|---|
| Other | 42.17% | 0.00% | 58.63% | 24.47% |
| Cash | 29.08% | -687.11% | 117.03% | 75.53% |
| Bonds | 28.44% | -50.36% | 717.59% | 26.60% |
| Stocks | 5.21% | -1.78% | 72.26% | 43.62% |
| Convertible Bonds | 0.73% | 0.00% | 2.27% | 15.96% |
| Preferred Stocks | 0.00% | 0.00% | 0.13% | 59.57% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PQTAX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 4.63% | 12.00% |
| Technology | 0.00% | 0.00% | 45.08% | 38.67% |
| Real Estate | 0.00% | 0.27% | 99.97% | 34.67% |
| Industrials | 0.00% | 0.00% | 17.73% | 64.00% |
| Healthcare | 0.00% | 0.00% | 16.51% | 94.67% |
| Financial Services | 0.00% | 0.00% | 30.46% | 4.00% |
| Energy | 0.00% | 0.00% | 6.41% | 12.00% |
| Communication Services | 0.00% | 0.03% | 20.13% | 89.33% |
| Consumer Defense | 0.00% | 0.00% | 14.38% | 89.33% |
| Consumer Cyclical | 0.00% | 0.00% | 21.37% | 94.67% |
| Basic Materials | 0.00% | 0.00% | 12.01% | 28.00% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PQTAX % Rank | |
|---|---|---|---|---|
| US | 5.21% | -5.85% | 56.89% | 7.45% |
| Non US | 0.00% | 0.00% | 40.59% | 57.45% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | PQTAX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 29.08% | 1.07% | 100.00% | 46.81% |
| Government | 27.80% | 0.00% | 82.10% | 26.60% |
| Derivative | 6.10% | 0.00% | 63.99% | 43.62% |
| Corporate | 0.62% | 0.00% | 31.20% | 29.79% |
| Securitized | 0.21% | 0.00% | 64.73% | 26.60% |
| Municipal | 0.00% | 0.00% | 6.83% | 56.38% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | PQTAX % Rank | |
|---|---|---|---|---|
| US | 28.10% | -169.44% | 233.08% | 98.94% |
| Non US | 0.34% | -77.11% | 655.95% | 15.96% |
PQTAX - Expenses
Operational Fees
| PQTAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 2.97% | 0.75% | 12.88% | 44.09% |
| Management Fee | 1.55% | 0.65% | 2.99% | 80.85% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 49.18% |
| Administrative Fee | 0.40% | 0.09% | 0.45% | 94.44% |
Sales Fees
| PQTAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.50% | 3.50% | 5.75% | 81.82% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| PQTAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 1.00% | 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.
| PQTAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 35.00% | 0.00% | 198.00% | 50.00% |
PQTAX - Distributions
Dividend Yield Analysis
| PQTAX | Category Low | Category High | PQTAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 0.00% | 55.32% |
Dividend Distribution Analysis
| PQTAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| PQTAX | Category Low | Category High | PQTAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -1.56% | -3.14% | 1.55% | 11.83% |
Capital Gain Distribution Analysis
| PQTAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 27, 2022 | $1.028 | OrdinaryDividend |
| Dec 07, 2022 | $0.135 | CapitalGainShortTerm |
| Dec 07, 2022 | $0.009 | CapitalGainLongTerm |
| Sep 08, 2022 | $0.168 | OrdinaryDividend |
| Jun 09, 2022 | $0.189 | OrdinaryDividend |
| Mar 10, 2022 | $0.087 | OrdinaryDividend |
| Dec 28, 2021 | $0.026 | OrdinaryDividend |
| Dec 08, 2021 | $0.110 | CapitalGainShortTerm |
| Dec 08, 2021 | $0.019 | CapitalGainLongTerm |
| Sep 09, 2021 | $0.041 | OrdinaryDividend |
| Jun 10, 2021 | $0.057 | OrdinaryDividend |
| Mar 11, 2021 | $0.000 | OrdinaryDividend |
| Dec 28, 2020 | $0.075 | OrdinaryDividend |
| Dec 09, 2020 | $0.018 | CapitalGainShortTerm |
| Dec 09, 2020 | $0.038 | CapitalGainLongTerm |
| Sep 10, 2020 | $0.125 | OrdinaryDividend |
| Jun 11, 2020 | $0.198 | OrdinaryDividend |
| Dec 26, 2019 | $0.075 | OrdinaryDividend |
| Sep 12, 2019 | $0.074 | OrdinaryDividend |
| Jun 13, 2019 | $0.045 | OrdinaryDividend |
| Mar 14, 2019 | $0.019 | OrdinaryDividend |
| Dec 26, 2018 | $0.000 | OrdinaryDividend |
| Sep 13, 2018 | $0.005 | OrdinaryDividend |
| Jun 14, 2018 | $0.005 | OrdinaryDividend |
| Sep 14, 2017 | $0.005 | OrdinaryDividend |
| Jun 15, 2017 | $0.239 | OrdinaryDividend |
| Dec 29, 2015 | $0.236 | OrdinaryDividend |
| Dec 16, 2015 | $0.036 | CapitalGainShortTerm |
| Dec 16, 2015 | $0.035 | CapitalGainLongTerm |
| Sep 17, 2015 | $0.189 | OrdinaryDividend |
| Jun 18, 2015 | $0.205 | OrdinaryDividend |
| Dec 29, 2014 | $0.758 | OrdinaryDividend |
| Dec 10, 2014 | $0.145 | CapitalGainShortTerm |
| Dec 10, 2014 | $0.185 | CapitalGainLongTerm |
| Sep 18, 2014 | $0.014 | OrdinaryDividend |
| Jun 19, 2014 | $0.010 | OrdinaryDividend |
PQTAX - Fund Manager Analysis
Managers
Matthew Dorsten
Start Date
Tenure
Tenure Rank
Dec 31, 2013
8.42
8.4%
Mr. Dorsten is an executive vice president in the Newport Beach office and a portfolio manager in the quantitative strategies group. He is the lead portfolio manager for managed futures in addition to having portfolio management responsibilities in multi-asset alternative risk premia and beta replication strategies. He was previously a member of the financial engineering group working on mortgage-backed securities and event-linked bonds. Prior to joining PIMCO in 2006, he received his Ph.D. in theoretical particle physics from the California Institute of Technology, where he was a National Science Foundation Graduate Research Fellow. He holds undergraduate degrees in mathematics and physics from Ohio State University.
Graham Rennison
Start Date
Tenure
Tenure Rank
Dec 31, 2013
8.42
8.4%
Mr. Rennison is a senior vice president in the quantitative portfolio management group in the Newport Beach office, focusing on multi-asset-class systematic strategies. He was previously a member of the client analytics group, advising clients on strategic asset allocation. Prior to joining PIMCO in 2011, Mr. Rennison was a director and head of systematic strategies research at Barclays Capital in New York and also spent five years at Lehman Brothers. He has 15 years of investment experience and holds master's and undergraduate degrees in mathematics from Cambridge University, England.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.16 | 14.09 | 5.41 | 5.06 |