Fund Evaluator:
PIMCO Fixed Income SHares R (FXIRX)
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Best Performing in Miscellaneous Fixed Income Over the Last Year
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Fund Details
PIMCO Fixed Income SHares R Overview
PIMCO Fixed Income SHares R (FXIRX) is an actively managed Taxable Bond Miscellaneous Fixed Income fund. PIMCO launched the fund in 2004.
The investment seeks maximum real return, consistent with preservation of real capital and prudent investment management. The fund normally invests at least 80% of its net assets (plus borrowings made for investment purposes) in a portfolio of U.S. and foreign fixed income instruments including (but not limited to): inflation-indexed bonds issued by both U.S. and non-U.S. governments and corporations, including Treasury Inflation Protected Securities (TIPS); corporate debt securities of U.S. and non-U.S. issuers, including convertible securities and corporate commercial paper; etc.
About PIMCO Fixed Income SHares R (FXIRX)
There are 2 members of the management team with an average tenure of 3.99 years: Michael Cudzil (2025), Daniel He (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Treasury US TIPS TR USD index with a weighting of 100%. PIMCO Fixed Income SHares R has 487 securities in its portfolio. The top 10 holdings constitute 111.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
PIMCO Fixed Income SHares R is part of the Fixed Income global asset class and is within the Taxable Bond fund group. PIMCO Fixed Income SHares R has 26.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.1%. 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 187.7% (161.5% domestic bond, 26.2% foreign bond and 0.0% convertible bond). PIMCO Fixed Income SHares R has -87.3% of the portfolio in cash.
Assets Under Management
The fund has $181 million in total assets, which is below the $716 million average for the Miscellaneous Fixed Income 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.
FXIRX 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 Fixed Income SHares R expense ratio is high compared to funds in the Miscellaneous Fixed Income category. PIMCO Fixed Income SHares R has an expense ratio of 3.92%, which is 1389% 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 Fixed Income SHares R has a portfolio turnover rate of 157%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 109% for the Miscellaneous Fixed Income category.
Recently, in the month of August 2026, PIMCO Fixed Income SHares R returned 0.1%, which earned it a grade of D, as the Miscellaneous Fixed Income 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 funds in that category.
PIMCO Fixed Income SHares R has a trailing yield of 6.13%, which is above the 5.72% 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 Fixed Income SHares R Grades
Year to date, the fund has returned 0.3%, 1.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 1.0% over the past year (grade of F), 5.6% over the past three years (grade of C) and -0.2% per year over the past five years (grade of F) and 3.2% per year over the past 10 years (grade of B).
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FXIRX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FXIRX Return (NAV) | 0.1% | -1.6% | 1.0% | 5.6% | -0.2% | 3.2% |
| FXIRX Grade | D | F | F | C | F | B |
| +/- Category | -0.3% | -1.8% | -3.9% | -1.1% | -2.0% | 0.3% |
| Miscellaneous Fixed Income Avg | 0.5% | 0.3% | 4.9% | 6.7% | 1.8% | 2.9% |
| FXIRX Tax Cost Ratio | na | na | 2.4% | 1.5% | 2.1% | 1.8% |
FXIRX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FXIRX Return (NAV) | 0.3% | 11.1% | 2.2% | 3.2% | -17.3% | 7.2% | 16.6% | 11.1% | -2.5% | 5.2% | 5.7% |
| FXIRX Grade | F | A | F | F | F | A | A | B | F | C | C |
| +/- Category | -1.7% | 3.6% | -3.8% | -5.4% | -7.1% | 5.0% | 10.6% | 2.4% | -3.0% | 0.2% | 1.6% |
| Miscellaneous Fixed Income Avg | 2.0% | 7.5% | 6.0% | 8.6% | -10.2% | 2.2% | 6.0% | 8.7% | 0.4% | 5.0% | 4.1% |
| Risk Measures | |
| Standard Deviation: | 6.3% |
| Total Risk Index: | 0.52 - Below Average |
| Category Risk Index: | 1.25 - Above Average |
| Category Risk Grade: | D (75% Rank) |
| Beta: | 1.05 |
| R-Squared: | 87% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Extensive Sensitivity |
| Yield: | 6.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $181 Mil |
| Fund Total Assets: | $ 181 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 157% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 6.7 years | |||
| Average Tenure: 4.0 years | |||
| Managers (Year): He Daniel (2019), Cudzil Michael (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 487 |
| % in Top 10 Holdings: | 111.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 26.2% |
Portfolio Allocation |
|
| Domestic Stock: | 0.1% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 161.5% |
| Foreign Bond: | 26.2% |
| Convertible Bond: | 0.0% |
| Other: | -0.5% |
| Cash: | -87.3% |
Purchase Information
| Fund Family: | PIMCO |
| Phone Number: | 800-927-4648 |
| Website: | www.allianzinvestors.com |
| Status: | Open |
| Inception Date: | April 15, 2004 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 3.92% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.26% |
| Share Class: | PIMCO Fixed Income SHares R |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
