PIMCO New York Municipal Bond Fund Institutional Class

Frequently Asked Questions About PNYIX

What does PNYIX invest in?

This investment vehicle primarily aims to generate a high level of current income that is exempt from both federal and New York State income taxes, with capital growth serving as a secondary objective. Typically, at least 80% of the fund's assets are allocated to debt securities. The interest income from these securities, as affirmed by the issuer's bond counsel at their issuance, must be free from regular federal and New York income taxation, hence their designation as "New York Municipal Bonds." The fund has no limitations on acquiring "private activity" bonds, even though their interest is considered a tax-preference item for purposes of the federal Alternative Minimum Tax (AMT). Furthermore, the fund retains the option to utilize derivative financial instruments. It operates as a non-diversified fund.

What is the expense ratio of PNYIX?

PIMCO New York Municipal Bond Fund Institutional Class (PNYIX) charges an expense ratio of 0.44%. This is the annual fee deducted from fund assets to cover management and operations.

What is PNYIX's dividend yield?

PNYIX's trailing-twelve-month yield is 3.82%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of PNYIX?

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

What is the credit quality of PNYIX?

PNYIX'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 PNYIX?

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