PIMCO Multisector Bond Active Exchange-Traded Fund

PIMCO ETF Trust · Series S000080425

Bond fund · 111% debt· rate + credit risk filed
$14.71B NAV
1,938 positions · as of 2026-06-30 · filed 2026-08-31
data updated 2026-09-08

Fund profile

As filed in the prospectus · 2025 Q4

The Fund seeks to maximize yield and long term capital appreciation consistent with prudent investment management.

Strategy · summarised

The fund invests in a diversified multi-sector fixed income portfolio selected for undervaluation, with no benchmark constraint, emphasizing long-term strategic positioning over tactical trading. Holdings span investment-grade and high-yield corporate bonds, government securities, mortgage and asset-backed securities, and foreign currency exposure across developed and emerging markets, with average portfolio duration typically between two and eight years. Because security selection drives returns, fund performance will depend on the manager's ability to identify undervalued opportunities.

Expenses
0.64%one share class
Share classGrossNet
C0002428190.74%0.64%

Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.

Portfolio turnover 501.00% · as of 2025 Q4

Allocation

Asset groups · long / short shown separately, never netted · 2026 Q2

125.49%
of net assets
Securitized65.99%
Bonds42.86%
Cash & short-term11.11%
Loans2.80%
2 smaller2.73%

Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified.

Latest quarter

What changed since the fund's previous filing

2026Q2 vs 2026Q1: 785 new518 exited

Largest new: BofA Securities, Inc., UMBS, TBA ×5, Fannie Mae, Freddie Mac

Largest exited: UMBS PASS THRU POOLS ×5, SOUTH AFRICA GOVT, PROJECT CASHMERE, MEXICO GOVT

Return profile

Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026

1-year
+7.58%
3-year
35 of 36 months
5-year
35 of 60 months
Volatility
3.17%
Worst 3-yr fall
Cumulative return· Jul 2023 – Apr 2026

May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.

Debt profile

What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30

Avg coupon
5.29%
Avg maturity
15.79 yr
Coupon type

Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.

23%
floating
Fixed rate76.5%
Floating rate22.6%
Zero-coupon or unclassified1.0%
Maturity ladder

Share of the fund's debt value in each maturity band, shortest first.

<1y10y+
<1y2.0%
1-3y7.1%
3-5y14.7%
5-10y28.0%
10y+48.2%
Flagged holdings
Defaulted: none reported
In arrears: none reported
Paid in kind: 0.00% · $0.21M · 1 positions

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.

Interest-rate duration
14.23 yr
approx. move per 100bp
Credit-spread duration
13.37 yr
approx. move per 100bp
If rates and spreads both rise 100bp

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.

≈ -27.5%
of value
Interest rates52%
Credit spreads48%

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.

Credit risk by quality

Share of the fund's spread duration carried by each credit tier.

+13.37
yrs total
Investment grade+10.62 yr
High yield+2.75 yr
Where the risk sits on the curve

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.

Interest rate14.23 yr total
3 mo30 yr
3 mo1.89 yr13%
1 yr2.63 yr18%
5 yr3.52 yr25%
10 yr3.92 yr28%
30 yr2.27 yr16%
Credit spread13.37 yr total
3 mo30 yr
3 mo1.88 yr14%
1 yr2.47 yr18%
5 yr4.45 yr33%
10 yr2.51 yr19%
30 yr2.06 yr15%

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
TenorRate yrsIG yrsHY yrsIG $/bpHY $/bp
3 mo+1.89+1.79+0.09$2.63m$128.6k
1 yr+2.63+2.14+0.33$3.15m$484.8k
5 yr+3.52+2.60+1.85$3.82m$2.73m
10 yr+3.92+2.24+0.27$3.30m$392.9k
30 yr+2.27+1.85+0.21$2.72m$308.1k

Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.

Rate exposure by currency

Duration contribution in years, summing to the fund's 14.23 yr.

USD+8.63 yr
GBP+4.64 yr
EUR+0.58 yr
AUD+0.11 yr
ZAR+0.08 yr
COP+0.07 yr
2 others+0.12 yr

This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.

Holdings

By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page

Issuer%NAVValue
BofA Securities, Inc.10.69%$1.57B
UMBS, TBA6.00% · due 2056-07-017.01%$1.03B
UMBS, TBA5.00% · due 2056-07-016.55%$963.22M
UMBS, TBA4.00% · due 2056-07-014.83%$710.77M
Fannie Mae4.50% · due 2056-05-012.97%$437.11M
UMBS, TBA5.50% · due 2056-07-011.78%$261.99M
UMBS, TBA4.50% · due 2056-07-011.42%$208.82M
United States Treasury4.63% · due 2045-11-151.21%$177.24M
Freddie Mac4.50% · due 2056-05-011.06%$155.91M
REPUBLIC OF PERU6.15% · due 2032-08-120.89%$130.77M
Showing 10 of 1,938Sign in to see more

Top 10 positions are 38.41% of net assets, top 25 47.70%, across 848 issuers.

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