Fund Evaluator:
PIMCO Extended Duration Instl (PEDIX)
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Best Performing in Long Government Over the Last Year
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Fund Details
PIMCO Extended Duration Instl Overview
PIMCO Extended Duration Instl (PEDIX) is an actively managed Taxable Bond Long Government fund. PIMCO launched the fund in 2006.
The investment seeks maximum total return, consistent with 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. It may invest up to 30% of its total assets in securities denominated in foreign currencies, and may invest beyond this limit in U.S. dollar-denominated securities of foreign issuers.
About PIMCO Extended Duration Instl (PEDIX)
There are 2 members of the management team with an average tenure of 5.88 years: Michael Cudzil (2016), Tim Crowley (2025). 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 FTSE STRIPS 20+ Yr USD index with a weighting of 100%. PIMCO Extended Duration Instl has 456 securities in its portfolio. The top 10 holdings constitute 182.2% 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 Extended Duration Instl is part of the Fixed Income global asset class and is within the Taxable Bond fund group. PIMCO Extended Duration Instl has 9.4% 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 152.6% (143.2% domestic bond, 9.4% foreign bond and 0.0% convertible bond). PIMCO Extended Duration Instl has -52.5% of the portfolio in cash.
Assets Under Management
The fund has $503 million in total assets, which is below the $1 billion average for the Long Government 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.
PEDIX 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 Extended Duration Instl expense ratio is high compared to funds in the Long Government category. PIMCO Extended Duration Instl has an expense ratio of 5.37%, which is 358% 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 Extended Duration Instl has a portfolio turnover rate of 145%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 120% for the Long Government category.
Recently, in the month of August 2026, PIMCO Extended Duration Instl returned 1.4%, which earned it a grade of A, as the Long Government category had an average return of 0.6%. 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 Extended Duration Instl has a trailing yield of 4.33%, which is below the 4.49% 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 Extended Duration Instl Grades
Year to date, the fund has returned -4.9%, 2.0 percentage points worse than the category, which translates into a grade of F. The fund has returned -1.1% over the past year (grade of F), -3.4% over the past three years (grade of F) and -11.8% per year over the past five years (grade of F) and -4.1% per year over the past 10 years (grade of F).
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PEDIX 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 |
|
| PEDIX Return (NAV) | 1.4% | -4.5% | -1.1% | -3.4% | -11.8% | -4.1% |
| PEDIX Grade | A | F | F | F | F | F |
| +/- Category | 0.8% | -2.2% | -0.8% | -3.8% | -6.0% | -2.4% |
| Long Government Avg | 0.6% | -2.4% | -0.3% | 0.4% | -5.9% | -1.8% |
| PEDIX Tax Cost Ratio | na | na | 1.6% | 1.5% | 2.3% | 2.4% |
PEDIX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PEDIX Return (NAV) | -4.9% | 3.0% | -12.6% | 2.6% | -39.8% | -5.0% | 24.7% | 18.6% | -4.0% | 13.8% | 1.7% |
| PEDIX Grade | F | F | F | D | F | D | A | A | F | A | B |
| +/- Category | -2.0% | -3.3% | -6.6% | -0.5% | -14.6% | -0.9% | 10.0% | 6.2% | -2.3% | 6.3% | 0.4% |
| Long Government Avg | -2.9% | 6.3% | -6.0% | 3.2% | -25.3% | -4.1% | 14.7% | 12.5% | -1.7% | 7.5% | 1.3% |
| Risk Measures | |
| Standard Deviation: | 20.7% |
| Total Risk Index: | 1.70 - High |
| Category Risk Index: | 1.60 - High |
| Category Risk Grade: | F (100% Rank) |
| Beta: | 3.52 |
| R-Squared: | 91% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Extensive Sensitivity |
| Yield: | 4.3% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $515 Mil |
| Fund Total Assets: | $ 503 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 145% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 10.5 years | |||
| Average Tenure: 5.9 years | |||
| Managers (Year): Cudzil Michael (2016), Crowley Tim (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 456 |
| % in Top 10 Holdings: | 182.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 9.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 143.2% |
| Foreign Bond: | 9.4% |
| Convertible Bond: | 0.0% |
| Other: | -0.2% |
| Cash: | -52.5% |
Purchase Information
| Fund Family: | PIMCO |
| Phone Number: | 888-877-4626 |
| Website: | www.pimco.com |
| Status: | Open |
| Inception Date: | August 31, 2006 |
| 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 (%): | 5.37% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.17% |
| Share Class: | PIMCO Extended Duration Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
