PIMCO Fds, High Yield Municipal Bond Fund Insti Class

Frequently Asked Questions About PHMIX

What does PHMIX invest in?

The fund primarily focuses on investing at least 80% of its capital in municipal bonds. These fixed-income instruments are selected because their interest income is, as determined by the issuer's bond counsel at the time of issue, exempt from federal income tax. The fund has no restrictions on the amount it can allocate to higher-rated municipal debt. Additionally, it may dedicate up to 30% of its assets to "private activity" bonds, the interest from which is considered a tax preference item for federal Alternative Minimum Tax (AMT) calculations.

What is the expense ratio of PHMIX?

PIMCO Fds, High Yield Municipal Bond Fund Insti Class (PHMIX) charges an expense ratio of 0.55%. This is the annual fee deducted from fund assets to cover management and operations.

What is PHMIX's dividend yield?

PHMIX's trailing-twelve-month yield is 4.86%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of PHMIX?

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

What is the credit quality of PHMIX?

PHMIX'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 PHMIX?

Yield to maturity (YTM) is the total return you'd earn from PHMIX if every bond in the portfolio is held to maturity at the current price. PHMIX'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.