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Morningstar

PIMCO High Yield Municipal Bond C PYMCX

Morningstar Analyst Rating
Analyst rating as of
  • NAV / 1-Day Return 8.45  /  0.09 %
  • Total Assets 2.5 Bil
  • Adj. Expense Ratio
    —
  • Expense Ratio 1.620%
  • Distribution Fee Level Above Average
  • Share Class Type Level Load
  • Category High Yield Muni
  • Credit Quality / Interest Rate Sensitivity Medium / Moderate
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 3.19%
  • Effective Duration 6.54 years

USD | NAV as of Jan 27, 2023 | 1-Day Return as of Jan 27, 2023, 11:16 PM GMT+00:00

Morningstar’s Analysis PYMCX

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

People Pillar

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

Turnover remains a concern.

Senior Analyst

Summary

| by Peter Marchese

Pimco High Yield Municipal Bond is managed by a highly experienced group of portfolio managers and analysts who apply a sector-agnostic, relative value driven approach across most sectors of the municipal market, including taxable munis. The fund’s track record is compelling; however, concerns about the continuing turnover on the muni team after Pimco acquired Gurtin Municipal Bond Management in 2019 underpin Morningstar Analyst Ratings of Neutral for all share classes.

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