Fund Evaluator:
PIMCO RAE Emerging Markets Instl (PEIFX)
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Best Performing in Diversified Emerging Mkts Over the Last Year
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| 47.2% | Matthews Emerging Markets Sust Fut Inv (MASGX) |
| 46.5% | Lazard Emerging Markets Equity Instl (LZEMX) |
| 46.5% | LSV Emerging Markets Equity Inv (LVAZX) |
Fund Details
PIMCO RAE Emerging Markets Instl Overview
PIMCO RAE Emerging Markets Instl (PEIFX) is an actively managed International Equity Diversified Emerging Mkts fund. PIMCO launched the fund in 2015.
The investment seeks long-term capital appreciation. The fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets in investments that are economically tied to emerging market countries. Specifically, under normal circumstances, the fund will obtain exposure to a portfolio of stocks economically tied to emerging market countries.
About PIMCO RAE Emerging Markets Instl (PEIFX)
There are 2 members of the management team with an average tenure of 5.93 years: Robert Arnott (2015), Jim Masturzo (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI EM NR USD index with a weighting of 100% and MSCI EM Value NR USD index with a weighting of 100%. PIMCO RAE Emerging Markets Instl has 326 securities in its portfolio. The top 10 holdings constitute 31.9% 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 RAE Emerging Markets Instl is part of the Equity global asset class and is within the International Equity fund group. PIMCO RAE Emerging Markets Instl has 98.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.5%. There is 98.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). PIMCO RAE Emerging Markets Instl has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $2 billion in total assets, which is above the $967 million average for the Diversified Emerging Mkts 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.
PEIFX 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 RAE Emerging Markets Instl expense ratio is above average compared to funds in the Diversified Emerging Mkts category. PIMCO RAE Emerging Markets Instl has an expense ratio of 0.75%, which is 35% lower than its category average, making the fund expense ratio grade a A. 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 RAE Emerging Markets Instl has a portfolio turnover rate of 48%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.
Recently, in the month of July 2026, PIMCO RAE Emerging Markets Instl returned 2.4%, which earned it a grade of A, as the Diversified Emerging Mkts category had an average return of -4.9%. 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 RAE Emerging Markets Instl has a trailing yield of 3.85%, which is above the 1.72% category average. The fund normally distributes its income annually 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 RAE Emerging Markets Instl Grades
Year to date, the fund has returned 11.9%, 7.2 percentage points worse than the category, which translates into a grade of F. The fund has returned 23.4% over the past year (grade of F), 15.8% over the past three years (grade of D) and 10.3% per year over the past five years (grade of A) and 10.2% per year over the past 10 years (grade of A).
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PEIFX 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 |
|
| PEIFX Return (NAV) | 2.4% | -2.9% | 23.4% | 15.8% | 10.3% | 10.2% |
| PEIFX Grade | A | F | F | D | A | A |
| +/- Category | 7.3% | -5.4% | -12.5% | -2.1% | 3.8% | 1.5% |
| Diversified Emerging Mkts Avg | -4.9% | 2.4% | 35.9% | 17.9% | 6.5% | 8.7% |
| PEIFX Tax Cost Ratio | na | na | 2.4% | 2.1% | 2.4% | 2.1% |
PEIFX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PEIFX Return (NAV) | 11.9% | 26.0% | 7.0% | 22.7% | -10.4% | 15.9% | 0.9% | 13.7% | -12.7% | 29.3% | 32.5% |
| PEIFX Grade | F | F | C | A | A | A | F | F | A | F | A |
| +/- Category | -7.2% | -5.4% | 0.8% | 10.6% | 12.2% | 16.2% | -20.7% | -8.2% | 3.8% | -7.3% | 23.9% |
| Diversified Emerging Mkts Avg | 19.1% | 31.4% | 6.2% | 12.1% | -22.6% | -0.2% | 21.6% | 21.9% | -16.4% | 36.6% | 8.6% |
| Risk Measures | |
| Standard Deviation: | 13.6% |
| Total Risk Index: | 1.10 - Above Average |
| Category Risk Index: | 0.81 - Low |
| Category Risk Grade: | A (8% Rank) |
| Beta: | 0.81 |
| R-Squared: | 69% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 3.9% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $2766 Mil |
| Fund Total Assets: | $2,266 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 48% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 11.2 years | |||
| Average Tenure: 5.9 years | |||
| Managers (Year): Arnott Robert (2015), Masturzo Jim (2025) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 326 |
| % in Top 10 Holdings: | 31.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 98.0% |
Portfolio Allocation |
|
| Domestic Stock: | 1.5% |
| Foreign Stock: | 98.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.6% |
Purchase Information
| Fund Family: | PIMCO |
| Phone Number: | 888-877-4626 |
| Website: | www.pimco.com |
| Status: | Open |
| Inception Date: | June 5, 2015 |
| 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 (%): | 0.75% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.16% |
| Share Class: | PIMCO RAE Emerging Markets Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
