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Morningstar

PIMCO International Bond (USD-Hdg) Adm PFRAX

Morningstar Medalist Rating
Medalist Rating as of | See PIMCO Investment Hub
  • NAV / 1-Day Return 9.35  /  0.52 %
  • Total Assets 13.5 Bil
  • Adj. Expense Ratio
    0.750%
  • Expense Ratio 0.880%
  • Distribution Fee Level High
  • Share Class Type Institutional
  • Category Global Bond-USD Hedged
  • Credit Quality / Interest Rate Sensitivity Medium / Moderate
  • Min. Initial Investment 1,000,000
  • Status Open
  • TTM Yield 2.68%
  • Effective Duration 6.10 years

USD | NAV as of Sep 28, 2023 | 1-Day Return as of Sep 28, 2023, 10:21 PM GMT+0

Morningstar’s Analysis PFRAX

Will PFRAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PFRAX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the PFRAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of PFRAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Remains a standout.

Senior Analyst Mike Mulach

Mike Mulach

Senior Analyst

Summary

PIMCO International Bond (USD-Hedged) is backed by three skilled managers who draw on the firm’s extensive resources, and it benefits from a flexible, diversified approach. The strategy earns a Morningstar Analyst Rating of Gold on its cheaper share classes; the more-expensive ones earn Silver.

by Mike Mulach
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings PFRAX

More PFRAX Holdings
  • Current Portfolio Date
  • Equity Holdings 1
  • Bond Holdings 1139
  • Other Holdings 564
  • % Assets in Top 10 Holdings 9.3
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

IRS EUR 3.00000 09/20/23-5Y LCH Receive

22.96
3,040,826,310
Government

IRS EUR 3.00000 09/20/23-10Y LCH Receive

15.09
1,999,295,908
Government

Cash Offset

14.85
1,967,314,873
—

Pimco Fds

10.61
1,405,633,015
Cash and Equivalents

OIS CAD CAONREPO/3.50000 05/10/24-1Y LCH Receive

10.28
1,361,410,607
Government

RFR USD SOFR/3.15000 05/13/24-1Y LCH Pay

9.96
1,319,800,000
Government

CDX IG40 5Y ICE

9.67
1,280,575,945
Derivative

RFR USD SOFR/4.25000 12/20/23-2Y LCH Pay

9.02
1,194,520,000
Government

Federal National Mortgage Association 6%

8.12
1,075,244,224
Securitized

RFR GBP SONIO/3.50000 09/20/23-10Y LCH Receive

8.10
1,072,263,617
Government