Fund Evaluator:
PIMCO Climate and Bond Inst (PCEIX)
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Best Performing in Corporate Bond Over the Last Year
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Fund Details
PIMCO Climate and Bond Inst Overview
PIMCO Climate and Bond Inst (PCEIX) is an actively managed Taxable Bond Corporate Bond fund. PIMCO launched the fund in 2019.
The investment seeks optimal risk adjusted returns, consistent with prudent investment management, while giving consideration to long term climate related risks and opportunities. The fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets in a diversified portfolio of fixed income instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. It invests opportunistically in a broad spectrum of climate focused instruments and debt from issuers demonstrating leadership with respect to addressing climate related factors.
About PIMCO Climate and Bond Inst (PCEIX)
There are 4 members of the management team with an average tenure of 5.11 years: Regina Borromeo (2023), Jelle Brons (2019), Samuel Mary (2019), Grover Burthey (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Global Aggregate TR Hdg USD index with a weighting of 100% and Bloomberg MSCI Glb Green Bd TR Hdg USD index with a weighting of 100%. PIMCO Climate and Bond Inst has 372 securities in its portfolio. The top 10 holdings constitute 60.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is considered to have an ESG focus with its investment selection and management.
PIMCO Climate and Bond Inst is part of the Fixed Income global asset class and is within the Taxable Bond fund group. PIMCO Climate and Bond Inst has 58.4% 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 123.6% (65.2% domestic bond, 58.4% foreign bond and 0.0% convertible bond). PIMCO Climate and Bond Inst has -23.6% of the portfolio in cash.
Assets Under Management
The fund has $33 million in total assets, which is below the $723 million average for the Corporate 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.
PCEIX 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 Climate and Bond Inst expense ratio is average compared to funds in the Corporate Bond category. PIMCO Climate and Bond Inst has an expense ratio of 0.54%, which is 28% lower than its category average, making the fund expense ratio grade a B. 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 Climate and Bond Inst has a portfolio turnover rate of 10%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 117% for the Corporate Bond category.
Recently, in the month of July 2026, PIMCO Climate and Bond Inst returned -1.0%, which earned it a grade of A, as the Corporate Bond 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 funds in that category.
PIMCO Climate and Bond Inst has a trailing yield of 4.54%, which is above the 4.39% 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 Climate and Bond Inst Grades
Year to date, the fund has returned -0.1%, 0.7 percentage points better than the category, which translates into a grade of A. The fund has returned 2.5% over the past year (grade of B), 5.3% over the past three years (grade of A) and 0.9% per year over the past five years (grade of A).
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PCEIX 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 |
|
| PCEIX Return (NAV) | -1.0% | 0.0% | 2.5% | 5.3% | 0.9% | na |
| PCEIX Grade | A | A | B | A | A | na |
| +/- Category | 0.6% | 0.8% | 0.2% | 0.8% | 1.2% | na |
| Corporate Bond Avg | -1.6% | -0.8% | 2.3% | 4.5% | -0.3% | 2.2% |
| PCEIX Tax Cost Ratio | na | na | 1.8% | 1.6% | 1.7% | na |
PCEIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PCEIX Return (NAV) | -0.1% | 7.1% | 3.8% | 8.8% | -12.6% | -0.1% | 6.8% | na | na | na | na |
| PCEIX Grade | A | D | A | B | A | A | F | na | na | na | na |
| +/- Category | 0.7% | -0.4% | 1.1% | 0.6% | 3.1% | 0.8% | -3.3% | na | na | na | na |
| Corporate Bond Avg | -0.9% | 7.4% | 2.7% | 8.2% | -15.7% | -1.0% | 10.0% | 13.9% | -2.9% | 6.3% | 6.9% |
| Risk Measures | |
| Standard Deviation: | 4.4% |
| Total Risk Index: | 0.36 - Low |
| Category Risk Index: | 0.72 - Low |
| Category Risk Grade: | A (7% Rank) |
| Beta: | 0.74 |
| R-Squared: | 92% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 4.5% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $41 Mil |
| Fund Total Assets: | $ 34 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 10% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 6.6 years | |||
| Average Tenure: 5.1 years | |||
| Managers (Year): Brons Jelle (2019), Mary Samuel (2019), Burthey Grover (2022), Borromeo Regina (2023) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 372 |
| % in Top 10 Holdings: | 60.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 58.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 65.2% |
| Foreign Bond: | 58.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -23.6% |
Purchase Information
| Fund Family: | PIMCO |
| Phone Number: | 888-877-4626 |
| Website: | www.pimco.com |
| Status: | Open |
| Inception Date: | December 10, 2019 |
| Min. Initial Purchase: | $1,000,000 |
| 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 (%): | 0.54% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.75% |
| Share Class: | PIMCO Climate and Bond Inst |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
