Fund Evaluator:
PIMCO Low Duration II Admin (PDFAX)
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Fund Details
PIMCO Low Duration II Admin Overview
PIMCO Low Duration II Admin (PDFAX) is an actively managed Taxable Bond Short-Term Bond fund. PIMCO launched the fund in 1998.
The investment seeks maximum total return, consistent with preservation of capital and prudent investment management. The fund seeks to achieve its investment objective by investing under normal circumstances at least 65% of its total 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. "Fixed Income Instruments" include bonds, debt securities and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities.
About PIMCO Low Duration II Admin (PDFAX)
There are 3 members of the management team with an average tenure of 6.50 years: Jerome Schneider (2014), Michael Cudzil (2022), Marc Seidner (2022). 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 ICE BofA 1-3Y US Trsy TR USD index with a weighting of 100%. PIMCO Low Duration II Admin has 375 securities in its portfolio. The top 10 holdings constitute 154.3% 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 Low Duration II Admin is part of the Fixed Income global asset class and is within the Taxable Bond fund group. PIMCO Low Duration II Admin has 1.1% 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 140.9% (139.8% domestic bond, 1.1% foreign bond and 0.0% convertible bond). PIMCO Low Duration II Admin has -40.9% of the portfolio in cash.
Assets Under Management
The fund has $14 million in total assets, which is below the $904 million average for the Short-Term 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.
PDFAX 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 Low Duration II Admin expense ratio is above average compared to funds in the Short-Term Bond category. PIMCO Low Duration II Admin has an expense ratio of 0.76%, which is 15% 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 Low Duration II Admin has a portfolio turnover rate of 466%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 135% for the Short-Term Bond category.
Recently, in the month of July 2026, PIMCO Low Duration II Admin returned -0.0%, which earned it a grade of C, as the Short-Term Bond category had an average return of -0.0%. 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 Low Duration II Admin has a trailing yield of 3.58%, which is below the 4.16% 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 Low Duration II Admin Grades
Year to date, the fund has returned 0.3%, 0.6 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.8% over the past year (grade of F), 4.3% over the past three years (grade of F) and 1.5% per year over the past five years (grade of F) and 1.6% per year over the past 10 years (grade of F).
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PDFAX 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 |
|
| PDFAX Return (NAV) | -0.0% | 0.1% | 2.8% | 4.3% | 1.5% | 1.6% |
| PDFAX Grade | C | D | F | F | F | F |
| +/- Category | 0.0% | -0.2% | -0.6% | -0.7% | -0.7% | -0.7% |
| Short-Term Bond Avg | -0.0% | 0.3% | 3.4% | 5.0% | 2.2% | 2.3% |
| PDFAX Tax Cost Ratio | na | na | 1.4% | 1.5% | 1.2% | 0.9% |
PDFAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PDFAX Return (NAV) | 0.3% | 5.2% | 4.3% | 4.3% | -5.0% | -1.3% | 3.2% | 3.6% | 0.4% | 1.4% | 1.9% |
| PDFAX Grade | F | F | D | F | C | F | D | F | D | D | C |
| +/- Category | -0.6% | -0.7% | -0.6% | -1.3% | 0.0% | -1.2% | -1.0% | -1.2% | -0.4% | -0.4% | -0.6% |
| Short-Term Bond Avg | 0.9% | 5.9% | 4.9% | 5.6% | -5.0% | -0.0% | 4.2% | 4.8% | 0.7% | 1.9% | 2.5% |
| Risk Measures | |
| Standard Deviation: | 1.6% |
| Total Risk Index: | 0.13 - Low |
| Category Risk Index: | 0.83 - Below Average |
| Category Risk Grade: | B (36% Rank) |
| Beta: | 0.24 |
| R-Squared: | 73% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 3.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $268 Mil |
| Fund Total Assets: | $ 15 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 466% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 11.9 years | |||
| Average Tenure: 6.5 years | |||
| Managers (Year): Schneider Jerome (2014), Cudzil Michael (2022), Seidner Marc (2022) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 375 |
| % in Top 10 Holdings: | 154.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.1% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 139.8% |
| Foreign Bond: | 1.1% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -40.9% |
Purchase Information
| Fund Family: | PIMCO |
| Phone Number: | 888-877-4626 |
| Website: | www.pimco.com |
| Status: | Open |
| Inception Date: | February 2, 1998 |
| 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: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.76% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.66% |
| Share Class: | PIMCO Low Duration II Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
