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Name

As of 11/22/2024

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 REALPATH Blend 2045 Fund

PVQNX | Fund

$16.36

$555 M

2.15%

$0.35

0.26%

Vitals

YTD Return

16.7%

1 yr return

21.6%

3 Yr Avg Return

4.5%

5 Yr Avg Return

9.3%

Net Assets

$555 M

Holdings in Top 10

98.5%

52 WEEK LOW AND HIGH

$16.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.26%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 22.00%

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 11/22/2024

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 REALPATH Blend 2045 Fund

PVQNX | Fund

$16.36

$555 M

2.15%

$0.35

0.26%

PVQNX - Profile

Distributions

  • YTD Total Return 16.7%
  • 3 Yr Annualized Total Return 4.5%
  • 5 Yr Annualized Total Return 9.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.13%
DIVIDENDS
  • Dividend Yield 2.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    PIMCO REALPATH Blend 2045 Fund
  • Fund Family Name
    PIMCOFUNDS
  • Inception Date
    Dec 31, 2014
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Graham Rennison

Fund Description

The PIMCO REALPATH® Blend 2045 Fund (the “Fund”) is intended for investors seeking professional management of a comprehensive asset allocation strategy for retirement savings. The Fund is managed for shareholders that plan to retire or begin withdrawing assets around the year 2045, the Fund’s target year. This is the “self-elected” year of retirement for the investors in the Fund. The primary difference between the PIMCO REALPATH® Blend Funds is their asset allocation, which varies depending on the number of years left until the “self-elected” year of retirement indicated in the PIMCO REALPATH® Blend Fund’s name. The Fund’s allocation is intended to meaningfully reduce risk and increasingly focus on preservation of capital as the target retirement date of the Fund nears. An investment in the Fund is not guaranteed, and you may experience losses, including losses near, at, or after the target year indicated in the Fund’s name. There is no guarantee that the Fund will provide adequate income at and through your retirement.In managing the Fund, PIMCO uses a three-step approach consisting of 1) developing and re-evaluating a long-term asset allocation “glide path”; 2) allocating between fixed income and equity exposures; and 3) utilizing hedging techniques to manage risks.The Fund seeks to achieve its investment objective by investing under normal circumstances in a combination of affiliated and unaffiliated funds that are registered under the Investment Company Act of 1940, as amended (the “1940 Act”), equity securities, Fixed Income Instruments of varying maturities and credit qualities, or related derivatives, such as options, futures contracts, or swap agreements on any of the preceding securities mentioned. The “total return” sought by the Fund generally may consist of income earned on the Fund’s investments, plus capital appreciation, if any, which may arise from decreases in interest rates, foreign currency appreciation, or improving credit fundamentals for a particular sector or security. The Fund may invest in Institutional Class or Class M shares of any funds of the PIMCO Equity Series (the “Trust”) and PIMCO Funds, and in other affiliated funds, including funds of PIMCO ETF Trust, except funds of funds and PIMCO California Municipal Intermediate Value Fund, PIMCO California Municipal Opportunistic Value Fund, PIMCO National Municipal Intermediate Value Fund and PIMCO National Municipal Opportunistic Value Fund (“Underlying PIMCO Funds”), and unaffiliated funds that are registered under the 1940 Act (collectively, “Acquired Funds”). Under normal circumstances, the Fund seeks to invest substantially all of its equity exposure in index tracking securities, including investments in affiliated or unaffiliated investment companies, which will be registered under the 1940 Act, or related derivatives on such securities or indexes. “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 will invest in such funds, securities, instruments and other investments to the extent permitted under the 1940 Act, or any exemptive relief therefrom. To the extent the Fund invests in Underlying PIMCO Funds, PIMCO expects to select such Underlying PIMCO Funds without considering or canvassing the universe of available unaffiliated Acquired Funds.The Fund’s long-term asset allocations are based on a “glide path” developed by PIMCO and are based on quantitative and qualitative data relating to various risk metrics, long-term market trends, correlation of asset types and actuarial assumptions of life expectancy and retirement. The Fund’s current glide path asset allocation is based on its target date, which is the year in the name of the Fund. The target date assumes a retirement age of 65, and time horizons based on current longevity of persons reaching retirement in average health. Choosing a PIMCO REALPATH® Blend Fund targeting an earlier date represents a more conservative choice; choosing a PIMCO REALPATH® Blend Fund targeting a later date represents a more aggressive choice. The glide path is designed not only to reduce risk as the target retirement date nears, but is also designed to provide investors diversification across a variety of asset classes. The glide path changes over time, generally becoming more conservative as the Fund approaches the target date. As the Fund approaches the target year indicated in the Fund's name, the total expense ratio of the Fund is expected to increase due to changes in expenses attributable to the Fund's Acquired Fund investments.The chart below shows the glide path and illustrates how the allocation among the asset classes changes before and at the target date. The glide path allocation at the target date remains constant beyond that date. PIMCO may choose to modify the target asset allocations of the glide path itself from time to time. The Fund intends to rebalance its portfolio’s asset allocation to that of the glide path on a monthly basis.As the Fund reaches the target year indicated in the Fund’s name, it is anticipated that it will be combined with the PIMCO REALPATH® Blend Income Fund, provided that the Board of Trustees determines that the combination would be in the best interests of both Funds and their respective shareholders. Prior to any combination, which is anticipated to occur on or after the target year indicated in the Fund’s name, the Fund will provide shareholders with advance notice regarding the combination. If and when such a combination occurs, shareholders of the Fund will become shareholders of the PIMCO REALPATH® Blend Income Fund.As part of its investment process, PIMCO may seek to reduce exposure to certain risks by implementing various hedging transactions. These hedging transactions seek to reduce a Fund’s exposure to certain severe, unanticipated market events that could significantly detract from returns. PIMCO may utilize these hedging transactions, such as through the use of equity index put options, at such times as deemed appropriate by PIMCO. However, there can be no assurance that the Fund’s hedging transactions will be effective.PIMCO evaluates various combinations of affiliated or unaffiliated funds, securities, instruments and other investments to obtain the desired exposures and invests accordingly. Summary information about the Underlying PIMCO Funds can be found in the Fund’s prospectus. More complete information about the Underlying PIMCO Funds can be found in the Underlying PIMCO Funds’ prospectuses, statements of additional information and financial reports. Additional Underlying PIMCO Funds may be added or deleted in the future without notice.
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PVQNX - Performance

Return Ranking - Trailing

Period PVQNX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.7% 11.5% 24.3% 38.07%
1 Yr 21.6% 17.4% 27.2% 80.71%
3 Yr 4.5%* -1.5% 7.2% 50.00%
5 Yr 9.3%* 5.6% 11.3% 68.57%
10 Yr N/A* 5.7% 9.8% N/A

* Annualized

Return Ranking - Calendar

Period PVQNX Return Category Return Low Category Return High Rank in Category (%)
2023 16.1% 4.8% 21.3% 52.55%
2022 -19.4% -65.7% -14.5% 15.82%
2021 11.8% -4.7% 18.7% 17.65%
2020 12.3% 2.3% 15.5% 33.71%
2019 19.6% 8.2% 23.0% 32.91%

Total Return Ranking - Trailing

Period PVQNX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.7% 11.5% 24.3% 38.07%
1 Yr 21.6% 17.4% 27.2% 80.71%
3 Yr 4.5%* -1.5% 7.2% 50.00%
5 Yr 9.3%* 5.6% 11.3% 68.57%
10 Yr N/A* 5.7% 9.8% N/A

* Annualized

Total Return Ranking - Calendar

Period PVQNX Return Category Return Low Category Return High Rank in Category (%)
2023 18.7% 11.2% 37.0% 70.92%
2022 -17.3% -28.2% 0.1% 43.37%
2021 17.7% 4.2% 22.9% 36.36%
2020 13.9% 7.8% 23.2% 77.14%
2019 24.4% 21.3% 37.2% 74.68%

NAV & Total Return History

PVQNX - Holdings

Concentration Analysis

PVQNX Category Low Category High PVQNX % Rank
Net Assets 555 M 6.93 M 79.9 B 54.82%
Number of Holdings 18 2 586 57.87%
Net Assets in Top 10 526 M 9.98 M 84.8 B 55.33%
Weighting of Top 10 98.45% 42.4% 144.1% 34.92%

Top 10 Holdings

  1. VANGUARD INSTITUTIONAL INDEX F VANGUARD INST INDEX INST 46.96%
  2. VANGUARD DEVELOPED MARKETS IND VANGUARD DEV MKT INX INST PL 23.86%
  3. VANGUARD EMERGING MARKETS STOC VANGUARD EM MKT STK IND INST 8.41%
  4. PIMCO PRV SHORT TERM FLT III MUTUAL FUND 4.64%
  5. PIMCO TOTAL RETURN FUND PIMCO TOTAL RETURN FUND INST 3.63%
  6. VANGUARD SMALL CAP INDEX FUND VANGUARD SML CAP INDX INST 3.10%
  7. PIMCO LONG TERM US GOVERNMENT PIMCO LNG TRM US GVT BD INST 2.36%
  8. PIMCO LONG TERM REAL RETURN FU PIMCO LNG TRM RL RTRN INST 2.30%
  9. PIMCO INCOME FUND PIMCO INCOME FUND INS 1.62%
  10. PIMCO REAL RETURN FUND PIMCO REAL RETURN FUND INST 1.58%

Asset Allocation

Weighting Return Low Return High PVQNX % Rank
Stocks 		95.81% 0.00% 100.07% 79.19%
Cash 		4.64% 0.00% 45.56% 6.09%
Convertible Bonds 		0.20% 0.00% 1.09% 16.75%
Other 		0.16% -0.02% 11.52% 6.09%
Preferred Stocks 		0.00% 0.00% 0.03% 93.91%
Bonds 		0.00% 0.00% 25.62% 93.91%

Stock Sector Breakdown

Weighting Return Low Return High PVQNX % Rank
Technology 		19.10% 14.05% 23.99% 47.21%
Financial Services 		15.93% 13.09% 18.83% 27.41%
Healthcare 		11.67% 10.69% 14.59% 81.73%
Consumer Cyclical 		11.26% 8.06% 13.31% 46.19%
Industrials 		11.07% 9.12% 12.31% 27.92%
Communication Services 		7.55% 5.69% 10.23% 34.52%
Consumer Defense 		6.90% 4.68% 11.06% 41.12%
Basic Materials 		5.50% 3.18% 6.86% 15.74%
Energy 		4.51% 2.33% 6.54% 42.64%
Real Estate 		3.58% 1.86% 10.17% 62.94%
Utilities 		2.93% 1.89% 8.09% 31.47%

Stock Geographic Breakdown

Weighting Return Low Return High PVQNX % Rank
US 		95.81% 0.00% 100.07% 78.17%
Non US 		0.00% 0.00% 38.46% 93.91%

PVQNX - Expenses

Operational Fees

PVQNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.26% 0.01% 19.43% 88.83%
Management Fee 0.05% 0.00% 0.89% 36.22%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.02% 0.01% 0.29% 4.65%

Sales Fees

PVQNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

PVQNX 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.

PVQNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 22.00% 0.42% 115.00% 56.42%

PVQNX - Distributions

Dividend Yield Analysis

PVQNX Category Low Category High PVQNX % Rank
Dividend Yield 2.15% 0.00% 6.14% 28.43%

Dividend Distribution Analysis

PVQNX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Annual Annual

Net Income Ratio Analysis

PVQNX Category Low Category High PVQNX % Rank
Net Income Ratio 2.13% -0.42% 3.87% 10.93%

Capital Gain Distribution Analysis

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

Distributions History

View More +

PVQNX - Fund Manager Analysis

Managers

Graham Rennison

Start Date

Tenure

Tenure Rank

Dec 22, 2015

6.44

6.4%

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.

Erin Browne

Start Date

Tenure

Tenure Rank

Jan 16, 2019

3.37

3.4%

Ms. Erin Browne served as Managing Director, Global Macro Portfolio Manager at UBS O'Connor. She also serves as a Head of Asset Allocation, Asset Management at UBS. She was Global Macro Portfolio Manager at Point72 Asset Management.

Brendon Shvetz

Start Date

Tenure

Tenure Rank

May 28, 2021

1.01

1.0%

Mr. Shvetz is a senior vice president and portfolio manager in the Newport Beach office. Prior to joining PIMCO in 2009, he was a staff assistant to Secretary of State Condoleezza Rice. Previously, Mr. Shvetz served in the U.S. State Department's 24-hour command center and as a congressional aide. He holds an MBA from Stanford Graduate School of Business and an undergraduate degree from the Wharton School of the University of Pennsylvania.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 17.59 5.7 2.41

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