ETF Evaluator:
PIMCO Sr Ln Actv ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Bank Loan Over the Last Year
| 5.3% | PIMCO Sr Ln Actv ETF (LONZ) |
| 5.3% | PGIM Floating Rate Income ETF (PFRL) |
| 5.3% | Virtus Seix Senior Loan ETF (SEIX) |
| 5.0% | Pacer Aristotle Pac Ast Fl Rt Hi Inc ETF (FLRT) |
| 4.7% | T. Rowe Price Floating Rate ETF (TFLR) |
Risk
Index
Risk
Index
ETF Details
PIMCO Sr Ln Actv ETF Overview
PIMCO Sr Ln Actv ETF (LONZ) is an actively managed Taxable Bond Bank Loan exchange-traded fund (ETF). PIMCO launched the ETF in 2022.
The investment seeks current income, 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 diversified portfolio of Senior Loans, which may be represented by forwards or derivatives such as options, futures contracts or swap agreements. The average portfolio duration of the fund will normally vary within one year (plus or minus) of the portfolio duration of the securities comprising the Markit iBoxx USD Liquid Leveraged Loan Index.
About PIMCO Sr Ln Actv ETF (LONZ)
There are 4 members of the management team with an average tenure of 3.93 years: Giang Bui (2022), Tanuj Dora (2022), Jason Duko (2023) and David Forgash (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and iBoxx USD Liquid Levrgd Loans TR USD index with a weighting of 100%. PIMCO Sr Ln Actv ETF has 334 securities in its portfolio. The top 10 holdings constitute 10.5% 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 Sr Ln Actv ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. PIMCO Sr Ln Actv ETF has 0.0% 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 102.6% (102.6% domestic bond, 0.0% foreign bond and 0.0% convertible bond). PIMCO Sr Ln Actv ETF has -2.6% of the portfolio in cash.
Assets Under Management
The fund has $584 million in total assets, which is below the $1 billion average for the Bank Loan 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.
LONZ 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 Sr Ln Actv ETF expense ratio is above average compared to funds in the Bank Loan category. PIMCO Sr Ln Actv ETF has an expense ratio of 0.63%, which is 8% higher 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 Sr Ln Actv ETF has a portfolio turnover rate of 81%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 92% for the Bank Loan category.
Recently, in the month of July 2026, PIMCO Sr Ln Actv ETF returned 0.6%, which earned it a grade of D, as the Bank Loan category had an average return of 0.6%. 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 Sr Ln Actv ETF has a trailing yield of 9.12%, which is above the 7.35% 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 Sr Ln Actv ETF Grades
Year to date, the ETF has returned 2.2%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 5.3% over the past year (grade of A) and 7.7% over the past three years (grade of A).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about PIMCO Sr Ln Actv ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
LONZ 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 |
|
| LONZ Return (NAV) | 0.6% | 1.1% | 5.3% | 7.7% | na | na |
| LONZ Return (Price) | 0.7% | 1.2% | 5.6% | 7.7% | na | na |
| NAV +/- Price Return | -0.143% | -0.042% | -0.302% | -0.010% | na | na |
| Bank Loan Avg | 0.6% | 1.1% | 4.0% | 7.1% | 5.4% | 4.5% |
| LONZ Grade (NAV) | D | D | A | A | na | na |
| +/- Category (NAV) | -0.1% | -0.0% | 1.3% | 0.6% | na | na |
| LONZ Tax-Cost Ratio | na | na | 3.6% | 3.2% | na | na |
LONZ Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LONZ Return (NAV) | 2.2% | 6.3% | 9.3% | 13.0% | na | na | na | na | na | na | na |
| LONZ Return (Price) | 2.6% | 5.9% | 9.8% | 12.6% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.162% | -0.065% | 0.062% | -0.031% | na | na | na | na | na | na | na |
| Bank Loan Avg | 1.9% | 5.7% | 8.7% | 12.7% | -2.3% | 4.0% | 2.6% | 8.7% | -0.4% | 2.8% | 7.6% |
| LONZ Grade (NAV) | B | C | A | B | na | na | na | na | na | na | na |
| +/- Category | 0.3% | 0.6% | 0.6% | 0.2% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.07 |
| R-Squared: | 4% |
| Standard Deviation: | 2.0% |
| Category Risk Index: | 0.99 |
| Category Risk Rating: | Average |
| Total Risk Index: | 0.17 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 9.1% |
| Total Assets: | $ 585 Mil |
| Share Class Assets: | $ 585 Mil |
| Turnover: | 81.0% |
| Expense Ratio: | 0.63% |
| 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: 4 | |||
| Longest Tenure: 4.2 years | |||
| Average Tenure: 3.9 years | |||
| Managers (Year): Bui Giang (2022), Dora Tanuj (2022), Forgash David (2022), Duko Jason (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 334 |
| % in Top 10 Holdings: | 10.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 102.6% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -2.6% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | PIMCO |
| Phone Number: | 888-400-4383 |
| Website: | www.pimcoetfs.com/fundinfo |
| Inception Date: | June 8, 2022 |
Expenses and Fees
| Expense Ratio (%): | 0.63% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.58% |
