ETF Evaluator:
PIMCO Inflation Plus Active ETF ()
Follow This ETF
(as of Aug 25)
Best Performing in Short-Term Inflation-Protected Bond Over the Last Year
| 4.1% | F/m Ultrshrt Trs Infl-Protd Sec TIPS ETF (RBIL) |
| 3.5% | Vanguard Short-Term Infl-Prot Secs ETF (VTIP) |
| 3.5% | iShares 0-5 Year TIPS Bond ETF (STIP) |
| 3.4% | Invesco 0-5 Yr US TIPS ETF (PBTP) |
| 3.4% | iShares iBonds 1-5 Year TIPS Ladder ETF (LDRI) |
Risk
Index
Risk
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ETF Details
PIMCO Inflation Plus Active ETF Overview
PIMCO Inflation Plus Active ETF (PCPI) is an actively managed Taxable Bond Short-Term Inflation-Protected Bond exchange-traded fund (ETF). PIMCO launched the ETF in 2026.
The investment seeks real return, consistent with prudent investment management.
The fund seeks to achieve its investment objective by, investing under normal circumstances, at least 80% of its net assets in inflation-indexed bonds of varying maturities issued by the U.S. and non‑U.S. governments, their agencies or instrumentalities, and corporations, which may be represented by forwards or derivatives such as options, futures contracts or swap agreements.
About PIMCO Inflation Plus Active ETF (PCPI)
There are 3 members of the management team with an average tenure of 0.33 years: Michael Cudzil (2026), Daniel He (2026) and Tanuj Dora (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
PIMCO Inflation Plus Active ETF has 26 securities in its portfolio. The top 10 holdings constitute 183.3% 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 Inflation Plus Active ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. PIMCO Inflation Plus Active 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 -24.6% (-24.6% domestic bond, 0.0% foreign bond and 0.0% convertible bond). PIMCO Inflation Plus Active ETF has 34.1% of the portfolio in cash.
Assets Under Management
The fund has $89 million in total assets, which is below the $3 billion average for the Short-Term Inflation-Protected 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.
PCPI 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 Inflation Plus Active ETF expense ratio is below average compared to funds in the Short-Term Inflation-Protected Bond category. PIMCO Inflation Plus Active ETF has an expense ratio of 0.25%, which is 88% higher than its category average, making the fund expense ratio grade a F. 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 Inflation Plus Active ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 38% for the Short-Term Inflation-Protected Bond category.
Recently, in the month of July 2026, PIMCO Inflation Plus Active ETF returned 0.0%, which earned it a grade of F, as the Short-Term Inflation-Protected Bond category had an average return of 0.2%. 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 Inflation Plus Active ETF has a trailing yield of 0.00%, which is below the 4.76% 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.
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PCPI 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 |
|
| PCPI Return (NAV) | 0.0% | 0.2% | na | na | na | na |
| PCPI Return (Price) | 0.0% | 0.3% | na | na | na | na |
| NAV +/- Price Return | -0.000% | -0.160% | na | na | na | na |
| Short-Term Inflation-Protected Bond Avg | 0.2% | -0.0% | 3.4% | 4.9% | 2.7% | 3.0% |
| PCPI Grade (NAV) | F | B | na | na | na | na |
| +/- Category (NAV) | -0.1% | 0.2% | na | na | na | na |
| PCPI Tax-Cost Ratio | na | na | na | na | na | na |
PCPI Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PCPI Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| PCPI Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Short-Term Inflation-Protected Bond Avg | 1.9% | 6.3% | 4.3% | 4.5% | -4.2% | 5.4% | 6.0% | 5.3% | 0.2% | 0.9% | 3.0% |
| PCPI Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 89 Mil |
| Share Class Assets: | $ 89 Mil |
| Turnover: | na |
| Expense Ratio: | 0.25% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 0.3 years | |||
| Average Tenure: 0.3 years | |||
| Managers (Year): Cudzil Michael (2026), He Daniel (2026), Dora Tanuj (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 26 |
| % in Top 10 Holdings: | 183.3% |
| 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: | -24.6% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 90.5% |
| Cash: | 34.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | PIMCO |
| Phone Number: | 888-400-4383 |
| Website: | www.pimcoetfs.com/fundinfo |
| Inception Date: | March 31, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.25% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.13% |
