PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund
Actively managed U.S. bond ETF
As of its 2026 Q2 report, PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund held 647 positions with $3.09B in net assets. Its ten largest holdings made up 10.7% of the fund. The MUNI share class costs 0.35% a year. Over the 12 months to May 2026, MUNI returned 6.2%, with dividends reinvested. In 2026 Q2 it added 105 new positions and exited 38.
The Fund seeks attractive tax-exempt income, consistent with preservation of capital.
The fund invests at least 80% of its assets in investment-grade municipal bonds rated Baa or higher, seeking attractive current yields and competitive market prices while maintaining a portfolio duration normally within 2 years below to 4 years above the Bloomberg 1-15 Year Municipal Bond Index. The fund may concentrate 25% or more of assets in bonds financing similar projects such as education, health care, or utilities, and may hold 25% or more in industrial development bonds. Because the fund's returns depend on the manager's security selection and duration positioning relative to the index, performance may diverge from the index.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
United States Treasury 3.38% · due 2028-02-29 | 2.20% | $68.05M | — |
United States Treasury 3.50% · due 2031-02-28 | 1.78% | $54.85M | — |
United States Treasury 4.63% · due 2031-04-30 | 1.16% | $35.73M | — |
United States Treasury 4.25% · due 2031-02-28 | 0.86% | $26.45M | — |
Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 0.00% · due 2046-07-01 | 0.81% | $25.01M | — |
Connecticut State Health & Educational Facilities Authority 2.60% floating · due 2057-07-01 | 0.81% | $25.00M | — |
Black Belt Energy Gas District 5.00% · due 2034-01-01 | 0.81% | $24.97M | — |
Texas Municipal Gas Acquisition & Supply Corp V 5.00% · due 2036-04-01 | 0.80% | $24.77M | — |
Fort Bend Independent School District 3.80% floating · due 2055-08-01 | 0.79% | $24.44M | — |
FHLMC Multifamily VRD Certificates 4.87% floating · due 2043-01-25 | 0.71% | $21.81M | — |
The 200 largest of 647 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 | 97.44% |
| Securitized | 1.74% |
| Cash & short-term | 0.10% |
How it has done
MUNI share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.16%. 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.
Fees & fund details
PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund is an actively managed U.S. bond ETF.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
- Expense ratio, by class
- 0.35%· MUNI 0.35%
- Portfolio turnover
- 26.00% a year · as of 2025 Q4
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.
105 new· the largest 8
38 exited· the largest 2
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 | 67.1% |
| Floating rate | 30.9% |
| Zero-coupon or unclassified | 2.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.4% |
| 1-3y | 3.6% |
| 3-5y | 8.2% |
| 5-10y | 18.6% |
| 10y+ | 68.2% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
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.
| Credit spreads | 53% |
| Interest rates | 47% |
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.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +5.07 yr |
| High yield | +0.12 yr |
Share of duration at each point, shortest first. This filer signs its rate and credit disclosures differently; the direction shown follows its interest-rate filing, and a negative reading is the least-supported figure here.
| 3 mo | 0.05 yr | 1% |
| 1 yr | 0.30 yr | 7% |
| 5 yr | 1.41 yr | 31% |
| 10 yr | 2.40 yr | 53% |
| 30 yr | 0.37 yr | 8% |
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.33 yr | 6% |
| 5 yr | 1.54 yr | 30% |
| 10 yr | 2.82 yr | 54% |
| 30 yr | 0.49 yr | 9% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.05 | +0.01 | +0.00 | $4.2k | $481 |
| 1 yr | +0.30 | +0.31 | +0.01 | $96.7k | $4.4k |
| 5 yr | +1.41 | +1.51 | +0.03 | $467.6k | $8.7k |
| 10 yr | +2.40 | +2.75 | +0.06 | $849.9k | $19.7k |
| 30 yr | +0.37 | +0.47 | +0.01 | $146.1k | $3.9k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
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