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Morningstar

PIMCO High Yield C PHDCX

Morningstar Medalist Rating
Medalist Rating as of | See PIMCO Investment Hub
  • NAV / 1-Day Return 7.55  /  0.17 %
  • Total Assets 8.0 Bil
  • Adj. Expense Ratio
    1.650%
  • Expense Ratio 1.670%
  • Distribution Fee Level Below Average
  • Share Class Type Level Load
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity Low / Limited
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 4.58%
  • Effective Duration 3.40 years

USD | NAV as of Sep 29, 2023 | 1-Day Return as of Sep 29, 2023, 10:17 PM GMT+0

Morningstar’s Analysis PHDCX

Will PHDCX 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 PHDCX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the PHDCX 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 PHDCX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Resetting expectations.

Associate Director Brian Moriarty

Brian Moriarty

Associate Director

Summary

Pimco High Yield’s former lead manager will retire in June 2023, while a former comanager left the firm earlier in 2023. The strategy in place here is robust, but there is a new management configuration that may need time to settle in. It earns a Morningstar Analyst Rating of Neutral across all share classes except for the most expensive C shares; this is a downgrade from Silver or Bronze ratings, depending on the share class.

by Brian Moriarty
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings PHDCX

More PHDCX Holdings
  • Current Portfolio Date
  • Equity Holdings 0
  • Bond Holdings 754
  • Other Holdings 34
  • % Assets in Top 10 Holdings 13.5
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

CDX HY40 5Y ICE

8.15
654,174,871
Derivative

United States Treasury Notes 4.25%

2.46
197,796,876
Government

CDX HY38 5Y ICE

2.45
196,500,212
Derivative

United States Treasury Notes 3.625%

2.12
169,876,715
Government

United States Treasury Notes 4.25%

2.06
165,007,987
Government

United States Treasury Notes 3.25%

1.92
153,906,250
Government

United States Treasury Notes 4.125%

1.28
102,480,977
Government

United States Treasury Notes 2.75%

1.19
95,143,799
Government

Offset: Cash

1.04
83,745,988
Cash and Equivalents

CDX HY39 5Y ICE

1.02
82,130,146
Derivative