Fund Evaluator:
PIMCO International Bond (Unhedged) A (PFUAX)
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Best Performing in Global Bond Over the Last Year
| 6.8% | Invesco International Bond Y (OIBYX) |
| 5.5% | Destinations Global Fixed Income Opps Z (DGFZX) |
| 3.7% | Invesco Global Strategic Income Y (OSIYX) |
| 2.7% | Amana Participation Investor (AMAPX) |
| 2.6% | DoubleLine Global Bond N (DLGBX) |
Fund Details
PIMCO International Bond (Unhedged) A Overview
PIMCO International Bond (Unhedged) A (PFUAX) is an actively managed Taxable Bond Global Bond fund. PIMCO launched the fund in 2004.
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 80% of its assets in Fixed Income Instruments. It will invest under normal circumstances in Fixed Income Instruments that are economically tied to at least three non-U.S. countries. The fund may invest, without limitation, in derivative instruments, such as options, futures contracts or swap agreements, or in mortgage- or asset-backed securities. The fund may also invest up to 10% of its total assets in preferred securities.
About PIMCO International Bond (Unhedged) A (PFUAX)
There are 3 members of the management team with an average tenure of 11.85 years: Andrew Balls (2014), Lorenzo Pagani (2014), Sachin Gupta (2014). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg Gbl Agg Ex USD TR USD index with a weighting of 100%. PIMCO International Bond (Unhedged) A has 1693 securities in its portfolio. The top 10 holdings constitute 57.9% 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 International Bond (Unhedged) A is part of the Fixed Income global asset class and is within the Taxable Bond fund group. PIMCO International Bond (Unhedged) A has 152.3% 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 169.8% (17.5% domestic bond, 152.3% foreign bond and 0.0% convertible bond). PIMCO International Bond (Unhedged) A has -68.6% of the portfolio in cash.
Assets Under Management
The fund has $111 million in total assets, which is below the $422 million average for the Global 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.
PFUAX 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 International Bond (Unhedged) A expense ratio is high compared to funds in the Global Bond category. PIMCO International Bond (Unhedged) A has an expense ratio of 1.11%, which is 16% 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 International Bond (Unhedged) A has a portfolio turnover rate of 520%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 152% for the Global Bond category.
Recently, in the month of July 2026, PIMCO International Bond (Unhedged) A returned -0.2%, which earned it a grade of B, as the Global Bond category had an average return of -0.3%. 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 International Bond (Unhedged) A has a trailing yield of 3.64%, which is below the 4.17% 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 International Bond (Unhedged) A Grades
Year to date, the fund has returned -2.1%, 1.8 percentage points worse than the category, which translates into a grade of F. The fund has returned 0.8% over the past year (grade of F), 3.4% over the past three years (grade of C) and -2.7% per year over the past five years (grade of F) and -0.2% per year over the past 10 years (grade of F).
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PFUAX 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 |
|
| PFUAX Return (NAV) | -0.2% | -0.9% | 0.8% | 3.4% | -2.7% | -0.2% |
| PFUAX Grade | B | D | F | C | F | F |
| +/- Category | 0.2% | -0.7% | -2.1% | -0.4% | -2.0% | -1.1% |
| Global Bond Avg | -0.3% | -0.2% | 2.9% | 3.8% | -0.7% | 0.9% |
| PFUAX Tax Cost Ratio | na | na | 1.4% | 1.4% | 1.4% | 1.1% |
PFUAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PFUAX Return (NAV) | -2.1% | 10.4% | -2.0% | 6.3% | -19.0% | -7.4% | 11.9% | 6.7% | -4.0% | 10.4% | 3.4% |
| PFUAX Grade | F | B | D | C | F | F | A | D | D | B | C |
| +/- Category | -1.8% | 1.0% | -1.0% | -0.3% | -5.1% | -2.9% | 4.1% | -0.6% | -1.9% | 2.5% | -0.3% |
| Global Bond Avg | -0.2% | 9.5% | -1.0% | 6.5% | -13.9% | -4.5% | 7.8% | 7.2% | -2.1% | 7.9% | 3.7% |
| Risk Measures | |
| Standard Deviation: | 8.3% |
| Total Risk Index: | 0.68 - Below Average |
| Category Risk Index: | 1.20 - Above Average |
| Category Risk Grade: | D (79% Rank) |
| Beta: | 1.20 |
| R-Squared: | 65% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Extensive Sensitivity |
| Yield: | 3.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1198 Mil |
| Fund Total Assets: | $ 112 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 520% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 11.9 years | |||
| Average Tenure: 11.9 years | |||
| Managers (Year): Balls Andrew (2014), Pagani Lorenzo (2014), Gupta Sachin (2014) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 1693 |
| % in Top 10 Holdings: | 57.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 152.3% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 17.5% |
| Foreign Bond: | 152.3% |
| Convertible Bond: | 0.0% |
| Other: | -1.2% |
| Cash: | -68.6% |
Purchase Information
| Fund Family: | PIMCO |
| Phone Number: | 888-877-4626 |
| Website: | www.pimco.com |
| Status: | Open |
| Inception Date: | July 30, 2004 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | No |
| Front Load Maximum: | 3.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.11% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | PIMCO International Bond (Unhedged)Instl |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
