Fund Evaluator:
PIMCO NY Municipal Instl (PNYIX)
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Best Performing in Muni New York Intermediate Over the Last Year
| 5.2% | BNY Mellon NY AMT-Free Municipal Bond Z (DNYAX) |
| 3.3% | Columbia New York Itmt Muncpl Bd Inst (GNYTX) |
| 2.8% | Western Asset Interm Maturity NY Muni C (SINLX) |
Fund Details
PIMCO NY Municipal Instl Overview
PIMCO NY Municipal Instl (PNYIX) is an actively managed Municipal Bond Muni New York Intermediate fund. PIMCO launched the fund in 1999.
The investment seeks high current income exempt from federal and New York income tax; capital appreciation is a secondary objective. The fund normally invests at least 80% of its assets in debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from regular federal income tax and New York income tax ("New York Municipal Bonds"). It may invest without limitation in "private activity" bonds whose interest is a tax-preference item for purposes of the federal alternative minimum tax ("AMT"). The fund may invest in derivative instruments. It is non-diversified.
About PIMCO NY Municipal Instl (PNYIX)
There are 2 members of the management team with an average tenure of 7.20 years: David Hammer (2015), Kyle Christine (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Municipal TR USD index with a weighting of 100% and Bloomberg Municipal New York Exempt TR index with a weighting of 100%. PIMCO NY Municipal Instl has 287 securities in its portfolio. The top 10 holdings constitute 14.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
PIMCO NY Municipal Instl is part of the Fixed Income global asset class and is within the Municipal Bond fund group. PIMCO NY Municipal Instl has 3.4% 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 97.7% (94.2% domestic bond, 3.4% foreign bond and 0.0% convertible bond). PIMCO NY Municipal Instl has 2.4% of the portfolio in cash.
Assets Under Management
The fund has $315 million in total assets, which is above the $104 million average for the Muni New York Intermediate 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.
PNYIX 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 NY Municipal Instl expense ratio is average compared to funds in the Muni New York Intermediate category. PIMCO NY Municipal Instl has an expense ratio of 0.45%, which is 42% 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 NY Municipal Instl has a portfolio turnover rate of 44%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 21% for the Muni New York Intermediate category.
Recently, in the month of August 2026, PIMCO NY Municipal Instl returned -0.3%, which earned it a grade of C, as the Muni New York Intermediate category had an average return of -0.2%. 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 NY Municipal Instl has a trailing yield of 3.74%, which is above the 2.91% 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 NY Municipal Instl Grades
Year to date, the fund has returned 0.8%, 0.5 percentage points better than the category, which translates into a grade of A. The fund has returned 5.0% over the past year (grade of A), 3.7% over the past three years (grade of A) and 0.8% per year over the past five years (grade of A) and 2.0% per year over the past 10 years (grade of A).
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PNYIX 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 |
|
| PNYIX Return (NAV) | -0.3% | -1.0% | 5.0% | 3.7% | 0.8% | 2.0% |
| PNYIX Grade | C | C | A | A | A | A |
| +/- Category | -0.0% | -0.0% | 1.2% | 0.7% | 0.5% | 0.7% |
| Muni New York Intermediate Avg | -0.2% | -0.9% | 3.9% | 3.0% | 0.3% | 1.4% |
| PNYIX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
PNYIX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PNYIX Return (NAV) | 0.8% | 2.9% | 2.3% | 8.1% | -9.5% | 2.5% | 4.7% | 7.6% | 1.0% | 5.8% | 0.5% |
| PNYIX Grade | A | D | A | A | D | B | A | A | A | A | A |
| +/- Category | 0.5% | -0.6% | 0.9% | 2.6% | -1.1% | 0.8% | 1.1% | 1.1% | 0.5% | 1.6% | 0.9% |
| Muni New York Intermediate Avg | 0.3% | 3.5% | 1.4% | 5.6% | -8.4% | 1.7% | 3.6% | 6.4% | 0.4% | 4.1% | -0.4% |
| Risk Measures | |
| Standard Deviation: | 5.5% |
| Total Risk Index: | 0.45 - Low |
| Category Risk Index: | 1.15 - High |
| Category Risk Grade: | F (97% Rank) |
| Beta: | 0.95 |
| R-Squared: | 96% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 3.7% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1007 Mil |
| Fund Total Assets: | $ 316 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 44% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 11.0 years | |||
| Average Tenure: 7.2 years | |||
| Managers (Year): Hammer David (2015), Christine Kyle (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 287 |
| % in Top 10 Holdings: | 14.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 3.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 94.2% |
| Foreign Bond: | 3.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.4% |
Purchase Information
| Fund Family: | PIMCO |
| Phone Number: | 888-877-4626 |
| Website: | www.pimco.com |
| Status: | Open |
| Inception Date: | August 31, 1999 |
| 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 (%): | 0.45% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.77% |
| Share Class: | PIMCO NY Municipal Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
