Fund Evaluator:

PIMCO CommoditiesPLUS® and Bond Alp Inst Overview

PIMCO CommoditiesPLUS® and Bond Alp Inst (PCLIX) is an actively managed Commodities Commodities Broad Basket fund. PIMCO launched the fund in 2010.

The investment seeks total return which exceeds that of its benchmark 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 combination of commodities, commodity instruments and Fixed Income Instrument investments. These instruments may include, or be represented by, forwards or derivatives such as options, futures contracts or swap agreements.

About PIMCO CommoditiesPLUS® and Bond Alp Inst (PCLIX)

There are 4 members of the management team with an average tenure of 6.27 years: Bryan Tsu (2022), Andrew Dewitt (2022), Greg Sharenow (2015), Lewis Hagedorn (2022). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and UBS Prompt Commodity TR USD index with a weighting of 100%. PIMCO CommoditiesPLUS® and Bond Alp Inst has 642 securities in its portfolio. The top 10 holdings constitute 47.0% 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 CommoditiesPLUS® and Bond Alp Inst is part of the Real Assets global asset class and is within the Commodities fund group. PIMCO CommoditiesPLUS® and Bond Alp Inst has 6.3% 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 21.2% (14.9% domestic bond, 6.3% foreign bond and 0.0% convertible bond). PIMCO CommoditiesPLUS® and Bond Alp Inst has 50.7% of the portfolio in cash.

Assets Under Management

The fund has $2 billion in total assets, which is above the $481 million average for the Commodities Broad Basket 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.

PCLIX 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 CommoditiesPLUS® and Bond Alp Inst expense ratio is high compared to funds in the Commodities Broad Basket category. PIMCO CommoditiesPLUS® and Bond Alp Inst has an expense ratio of 0.82%, which is 26% 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 CommoditiesPLUS® and Bond Alp Inst has a portfolio turnover rate of 194%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 73% for the Commodities Broad Basket category.

Recently, in the month of July 2026, PIMCO CommoditiesPLUS® and Bond Alp Inst returned 10.1%, which earned it a grade of A, as the Commodities Broad Basket category had an average return of 6.9%. 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 CommoditiesPLUS® and Bond Alp Inst has a trailing yield of 11.03%, which is above the 9.29% category average. The fund normally distributes its income quarterly 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 CommoditiesPLUS® and Bond Alp Inst Grades

Year to date, the fund has returned 34.6%, 12.2 percentage points better than the category, which translates into a grade of A. The fund has returned 38.5% over the past year (grade of B), 14.1% over the past three years (grade of B) and 15.3% per year over the past five years (grade of A) and 12.6% per year over the past 10 years (grade of A).

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