Fund Evaluator:

PIMCO Em Mkts Ccy and S/T Invsmt Instl Overview

PIMCO Em Mkts Ccy and S/T Invsmt Instl (PLMIX) is an actively managed Taxable Bond Emerging-Markets Local-Currency Bond fund. PIMCO launched the fund in 2005.

The investment seeks maximum total return, consistent with preservation of capital and prudent investment management. The fund invests at least 80% of its assets in currencies of, or in Fixed Income Instruments denominated in the currencies of, emerging market countries, and in short-term investments. The fund's investments in currencies or Fixed Income Instruments, including short-term investments, may be represented by forwards or derivatives such as options, futures contracts or swap agreements. It may invest in the currencies and Fixed Income Instruments of emerging market countries.

About PIMCO Em Mkts Ccy and S/T Invsmt Instl (PLMIX)

There are 2 members of the management team with an average tenure of 7.79 years: Pramol Dhawan (2016), Michael Davidson (2020). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg Global Aggregate TR Hdg USD index with a weighting of 100% and JPM ELMI+ TR USD index with a weighting of 100%. PIMCO Em Mkts Ccy and S/T Invsmt Instl has 1992 securities in its portfolio. The top 10 holdings constitute 51.7% 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 Em Mkts Ccy and S/T Invsmt Instl is part of the Fixed Income global asset class and is within the Taxable Bond fund group. PIMCO Em Mkts Ccy and S/T Invsmt Instl has 42.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -1.0%. There is -1.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 34.1% (-9.6% domestic bond, 43.7% foreign bond and 0.0% convertible bond). PIMCO Em Mkts Ccy and S/T Invsmt Instl has 59.4% of the portfolio in cash.

Assets Under Management

The fund has $583 million in total assets, which is above the $141 million average for the Emerging-Markets Local-Currency 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.

PLMIX 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 Em Mkts Ccy and S/T Invsmt Instl expense ratio is high compared to funds in the Emerging-Markets Local-Currency Bond category. PIMCO Em Mkts Ccy and S/T Invsmt Instl has an expense ratio of 1.00%, which is 15% lower than its category average, making the fund expense ratio grade a C. 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 Em Mkts Ccy and S/T Invsmt Instl has a portfolio turnover rate of 168%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 93% for the Emerging-Markets Local-Currency Bond category.

Recently, in the month of July 2026, PIMCO Em Mkts Ccy and S/T Invsmt Instl returned 1.5%, which earned it a grade of A, as the Emerging-Markets Local-Currency Bond category had an average return of 0.1%. 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 Em Mkts Ccy and S/T Invsmt Instl has a trailing yield of 8.74%, which is above the 6.47% 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 Em Mkts Ccy and S/T Invsmt Instl Grades

Year to date, the fund has returned 5.7%, 3.6 percentage points better than the category, which translates into a grade of A. The fund has returned 12.0% over the past year (grade of A), 8.6% over the past three years (grade of A) and 5.4% per year over the past five years (grade of A) and 4.0% per year over the past 10 years (grade of A).

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