ETF Evaluator:
PIMCO Multisector Bond Active ETF (PYLD)
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(as of Aug 17)
Best Performing in Multisector Bond Over the Last Year
| 7.3% | Eaton Vance Income Opportunities ETF (XAGG) |
| 7.1% | Bluemonte Diversified Income ETF (BLUI) |
| 7.0% | Rareview Dynamic Fixed Income ETF (RDFI) |
| 6.3% | FolioBeyond Enhanced Fixed Inc Prm ETF (FIXP) |
| 5.6% | Neuberger Flexible Credit Income ETF (NBFC) |
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ETF Details
PIMCO Multisector Bond Active ETF Overview
PIMCO Multisector Bond Active ETF (PYLD) is an actively managed Taxable Bond Multisector Bond exchange-traded fund (ETF). PIMCO launched the ETF in 2023.
The investment seeks to maximize yield and long term capital appreciation consistent with prudent investment management.
The fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its assets in a multi-sector portfolio of Fixed Income Instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts or swap agreements. “Fixed Income Instruments” include bonds, debt securities and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities.
About PIMCO Multisector Bond Active ETF (PYLD)
There are 6 members of the management team with an average tenure of 3.11 years: Alfred Murata (2023), Amit Arora (2023), Sonali Pier (2023), Jason Duko (2023), Daniel Ivascyn (2023) and Mukundan Devarajan (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. PIMCO Multisector Bond Active ETF has 2194 securities in its portfolio. The top 10 holdings constitute 50.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
PIMCO Multisector Bond Active ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. PIMCO Multisector Bond Active ETF has 2.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 168.5% (165.7% domestic bond, 2.8% foreign bond and 0.0% convertible bond). PIMCO Multisector Bond Active ETF has -65.9% of the portfolio in cash.
Assets Under Management
The fund has $15 billion in total assets, which is above the $1 billion average for the Multisector Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PYLD Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The PIMCO Multisector Bond Active ETF expense ratio is above average compared to funds in the Multisector Bond category. PIMCO Multisector Bond Active ETF has an expense ratio of 0.64%, which is 2% lower than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. PIMCO Multisector Bond Active ETF has a portfolio turnover rate of 501%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 163% for the Multisector Bond category.
Recently, in the month of July 2026, PIMCO Multisector Bond Active ETF returned -0.8%, which earned it a grade of D, as the Multisector Bond category had an average return of -0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
PIMCO Multisector Bond Active ETF has a trailing yield of 5.95%, which is above the 5.63% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
PIMCO Multisector Bond Active ETF Grades
Year to date, the ETF has returned 0.8%, 0.5 percentage points worse than the category, which translates into a grade of D. The fund has returned 5.3% over the past year (grade of A) and 7.5% over the past three years (grade of A).
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PYLD Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PYLD Return (NAV) | -0.8% | 0.4% | 5.3% | 7.5% | na | na |
| PYLD Return (Price) | -0.9% | 0.3% | 5.3% | 7.4% | na | na |
| NAV +/- Price Return | 0.075% | 0.039% | 0.007% | 0.064% | na | na |
| Multisector Bond Avg | -0.5% | 0.3% | 4.5% | 6.2% | 1.8% | 3.1% |
| PYLD Grade (NAV) | D | C | A | A | na | na |
| +/- Category (NAV) | -0.3% | 0.1% | 0.8% | 1.3% | na | na |
| PYLD Tax-Cost Ratio | na | na | 2.5% | 2.4% | na | na |
PYLD Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PYLD Return (NAV) | 0.8% | 9.8% | 7.4% | na | na | na | na | na | na | na | na |
| PYLD Return (Price) | 0.8% | 9.6% | 7.2% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.046% | -0.023% | -0.028% | na | na | na | na | na | na | na | na |
| Multisector Bond Avg | 1.3% | 7.6% | 5.5% | 8.2% | -10.8% | 3.0% | 4.7% | 10.6% | -1.8% | 5.9% | 7.4% |
| PYLD Grade (NAV) | D | A | A | na | na | na | na | na | na | na | na |
| +/- Category | -0.5% | 2.2% | 2.0% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.81 |
| R-Squared: | 91% |
| Standard Deviation: | 4.8% |
| Category Risk Index: | 1.02 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.39 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 6.0% |
| Total Assets: | $ 15,131 Mil |
| Share Class Assets: | $ 15,131 Mil |
| Turnover: | 501.0% |
| Expense Ratio: | 0.64% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 6 | |||
| Longest Tenure: 3.1 years | |||
| Average Tenure: 3.1 years | |||
| Managers (Year): Murata Alfred (2023), Arora Amit (2023), Pier Sonali (2023), Duko Jason (2023), Ivascyn Daniel (2023), Devarajan Mukundan (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 2194 |
| % in Top 10 Holdings: | 50.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.8% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 165.7% |
| Foreign Bond: | 2.8% |
| Convertible Bond: | 0.0% |
| Other: | -2.6% |
| Cash: | -65.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | PIMCO |
| Phone Number: | 888-400-4383 |
| Website: | www.pimcoetfs.com/fundinfo |
| Inception Date: | June 21, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.64% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.65% |
