PIMCO Emerging Markets Bond Fund
Actively managed global bond fund
As of its 2026 Q2 report, PIMCO Emerging Markets Bond Fund held 1,207 positions with $3.31B in net assets. Its ten largest holdings made up 15.6% of the fund. The PEBIX share class costs 1.19% a year. Over the 12 months to May 2026, PEBIX returned 14.4%, with dividends reinvested. In 2026 Q2 it added 826 new positions and exited 739.
The Fund seeks maximum total return, consistent with preservation of capital and prudent investment management.
The fund invests at least 80% of its assets in fixed income instruments economically tied to emerging market countries, maintaining portfolio duration within two years of the JPMorgan Emerging Markets Bond Index Global. PIMCO selects securities based on interest rates, inflation, exchange rates, monetary and fiscal policies, and other macroeconomic factors across Asia, Africa, the Middle East, Latin America and developing Europe. The fund may hold both investment-grade and high-yield securities, with high-yield capped at 15% of assets, and may use derivatives, forwards and short sales to gain or hedge market exposure. Because security selection depends on PIMCO's evaluation of macroeconomic conditions and country-specific factors rather than mechanical index tracking, fund returns may diverge from the benchmark index.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
PIMCO PRV SHORT TERM FLT III | 3.59% | $118.74M | — |
BofA Securities, Inc. | 3.20% | $105.69M | — |
United States Treasury 4.25% · due 2035-08-15 | 1.51% | $49.89M | — |
EAGLE FUNDING LUXCO SARL 5.50% · due 2030-08-17 | 1.49% | $49.26M | — |
Argentina Republic Government International Bonds 3.50% floating · due 2041-07-09 | 1.33% | $44.10M | — |
PETROLEOS MEXICANOS 6.70% · due 2032-02-16 | 1.11% | $36.77M | — |
Turkiye Government International Bonds 5.75% · due 2047-05-11 | 0.84% | $27.92M | — |
Mexico Government International Bonds 7.38% · due 2055-05-13 | 0.83% | $27.62M | — |
PETROLEOS DE VENEZUELA S 0.00% · due 2027-04-12 | 0.82% | $27.25M | — |
Saudi Government International Bonds 4.50% · due 2046-10-26 | 0.82% | $27.22M | — |
The 200 largest of 1,207 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 92.18% |
| Loans | 3.75% |
| Securitized | 2.33% |
| Stocks | 0.15% |
| 2 smaller | 0.19% |
Derivatives are shown at market value, not notional exposure.
How it has done
PEBIX share class · total returns with dividends reinvested
Volatility over the last 12 months: 5.56%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 5 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.19% | +14.40% | +40.75% | +18.72% | -4.78% | |
| 1.56% | +13.97% | +39.20% | +16.55% | -4.87% | |
| 2.31% | +13.14% | +36.14% | +12.28% | -5.05% | |
| 1.29% | +14.28% | +40.33% | +18.13% | -4.81% | |
| 1.34% | +14.23% | +40.12% | +17.84% | -4.82% |
These classes hold the same portfolio, so the 6.44pp spread over 5 years is the cost difference between them — roughly 1.29pp a year — not a difference in what they own.
Fees & fund details
PIMCO Emerging Markets Bond Fund is an actively managed global bond fund.
- Asset class
- Bonds
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Fund of funds
- Expense ratio, by class
- 1.19% – 2.31%· PEBIX 1.19%
- Portfolio turnover
- 67.00% a year · as of 2025 Q4
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
826 new· the largest 8
739 exited· the largest 6
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 85.3% |
| Floating rate | 11.0% |
| Zero-coupon or unclassified | 3.7% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 5.4% |
| 1-3y | 10.5% |
| 3-5y | 16.7% |
| 5-10y | 31.0% |
| 10y+ | 36.5% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
This fund's 2026Q2 interest-rate duration was flagged for a possible filing data-quality anomaly; the value shown is from its most recent clean filing (2026Q1).
This fund's 2026Q2 credit-spread duration was flagged for a possible filing data-quality anomaly; the value shown is from its most recent clean filing (2026Q1).
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 54% |
| Credit spreads | 46% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Understand how this fund fits with the rest.
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