ETF Evaluator:
PIMCO Muncpl Income Oppos Act Ex-Trd ()
Follow This ETF
(as of Aug 26)
Best Performing in Muni National Interm Over the Last Year
| 7.5% | Simplify National Muni Bond ETF (NMB) |
| 6.9% | X-Square Municipal Income Tax Free ETF (ZTAX) |
| 6.3% | BNY Mellon Municipal Opportunities ETF (BMOP) |
| 6.2% | PIMCO Muncpl Income Oppos Act Ex-Trd (MINO) |
| 6.0% | American Century Divers Muncpl Bd ETF (TAXF) |
Risk
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Risk
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ETF Details
PIMCO Muncpl Income Oppos Act Ex-Trd Overview
PIMCO Muncpl Income Oppos Act Ex-Trd (MINO) is an actively managed Municipal Bond Muni National Interm exchange-traded fund (ETF). PIMCO launched the ETF in 2021.
The investment seeks current income exempt from federal income tax and long-term capital appreciation.
The fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets in debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal income tax. It may invest up to 30% of its total assets in high yield securities. The average portfolio duration of this fund normally varies within (negative) 2 years to positive 2 years of the portfolio duration of the securities comprising the Bloomberg Municipal Bond Index.
About PIMCO Muncpl Income Oppos Act Ex-Trd (MINO)
There are 2 members of the management team with an average tenure of 4.90 years: David Hammer (2021) and Kyle Christine (2021). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg Municipal TR USD index with a weighting of 100%. PIMCO Muncpl Income Oppos Act Ex-Trd has 533 securities in its portfolio. The top 10 holdings constitute 11.8% 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 Muncpl Income Oppos Act Ex-Trd is part of the Fixed Income global asset class and is within the Municipal Bond ETF group. PIMCO Muncpl Income Oppos Act Ex-Trd has 1.9% 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 101.1% (99.2% domestic bond, 1.9% foreign bond and 0.0% convertible bond). PIMCO Muncpl Income Oppos Act Ex-Trd has -1.1% of the portfolio in cash.
Assets Under Management
The fund has $736 million in total assets, which is below the $2 billion average for the Muni National Interm 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.
MINO 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 Muncpl Income Oppos Act Ex-Trd expense ratio is below average compared to funds in the Muni National Interm category. PIMCO Muncpl Income Oppos Act Ex-Trd has an expense ratio of 0.39%, which is 38% 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 Muncpl Income Oppos Act Ex-Trd has a portfolio turnover rate of 47%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 41% for the Muni National Interm category.
Recently, in the month of July 2026, PIMCO Muncpl Income Oppos Act Ex-Trd returned -1.7%, which earned it a grade of D, as the Muni National Interm category had an average return of -1.6%. 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 Muncpl Income Oppos Act Ex-Trd has a trailing yield of 3.95%, which is above the 3.53% category average.
The fund normally distributes its income monthly.
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 Muncpl Income Oppos Act Ex-Trd Grades
Year to date, the ETF has returned 0.9%, 0.5 percentage points better than the category, which translates into a grade of A. The fund has returned 6.2% over the past year (grade of A) and 4.1% over the past three years (grade of A).
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MINO 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 |
|
| MINO Return (NAV) | -1.7% | -0.4% | 6.2% | 4.1% | na | na |
| MINO Return (Price) | -1.7% | -0.4% | 6.4% | 4.1% | na | na |
| NAV +/- Price Return | 0.065% | 0.045% | -0.167% | 0.011% | na | na |
| Muni National Interm Avg | -1.6% | -0.5% | 4.9% | 3.3% | 0.6% | 1.9% |
| MINO Grade (NAV) | D | B | A | A | na | na |
| +/- Category (NAV) | -0.1% | 0.1% | 1.3% | 0.8% | na | na |
| MINO Tax-Cost Ratio | na | na | 0.0% | 0.0% | na | na |
MINO Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MINO Return (NAV) | 0.9% | 4.4% | 3.0% | 8.6% | -10.4% | na | na | na | na | na | na |
| MINO Return (Price) | 0.9% | 4.4% | 3.1% | 8.5% | -10.4% | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.002% | -0.001% | 0.037% | -0.013% | -0.002% | na | na | na | na | na | na |
| Muni National Interm Avg | 0.4% | 4.7% | 2.0% | 6.1% | -8.1% | 1.6% | 5.0% | 7.7% | 1.2% | 5.2% | 0.1% |
| MINO Grade (NAV) | A | D | A | A | F | na | na | na | na | na | na |
| +/- Category | 0.5% | -0.3% | 1.1% | 2.5% | -2.3% | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.95 |
| R-Squared: | 97% |
| Standard Deviation: | 5.5% |
| Category Risk Index: | 1.10 |
| Category Risk Rating: | High |
| Total Risk Index: | 0.45 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.0% |
| Total Assets: | $ 737 Mil |
| Share Class Assets: | $ 737 Mil |
| Turnover: | 47.0% |
| Expense Ratio: | 0.39% |
| Index Fund: | No |
| Index Tracked: | Bloomberg Municipal TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 4.9 years | |||
| Average Tenure: 4.9 years | |||
| Managers (Year): Hammer David (2021), Christine Kyle (2021) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 533 |
| % in Top 10 Holdings: | 11.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 99.2% |
| Foreign Bond: | 1.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -1.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | PIMCO |
| Phone Number: | 888-400-4383 |
| Website: | www.pimcoetfs.com/fundinfo |
| Inception Date: | September 8, 2021 |
Expenses and Fees
| Expense Ratio (%): | 0.39% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.28% |
