PIMCO California Municipal Income Fund

Frequently Asked Questions About PCQ

What does PCQ invest in?

The PIMCO California Municipal Income Fund, structured as a closed-end mutual fund primarily focused on fixed-income investments, operates under the management of Allianz Global Investors Fund Management LLC. Pacific Investment Management Company LLC also shares in the fund's co-management duties. Its investment strategy targets fixed-income securities within the United States market. Although its portfolio largely comprises municipal bonds, it also aims to invest in the equity of companies spanning diverse sectors. This fund commenced operations on June 29, 2001, and is based in New York.

What is the expense ratio of PCQ?

PIMCO California Municipal Income Fund (PCQ) charges an expense ratio of 2.56%. This is the annual fee deducted from fund assets to cover management and operations.

What is PCQ's dividend yield?

PCQ's trailing-twelve-month yield is 4.95%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of PCQ?

Effective duration measures PCQ's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. PCQ's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of PCQ?

PCQ's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of PCQ?

Yield to maturity (YTM) is the total return you'd earn from PCQ if every bond in the portfolio is held to maturity at the current price. PCQ's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.