Fund Evaluator:

PIMCO Dividend and Income Institutional Overview

PIMCO Dividend and Income Institutional (PQIIX) is an actively managed Allocation Global Moderate Allocation fund. PIMCO launched the fund in 2011.

The investment seeks to provide current income; the fund's secondary objective is to seek to provide long-term capital appreciation. The fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets in a diversified portfolio of income-producing investments, and will typically invest between 35-65% of its assets in equity and equity-related securities (the "Equity Sleeve") selected in accordance with PIMCO’s systematic equity income strategy.

About PIMCO Dividend and Income Institutional (PQIIX)

There are 4 members of the management team with an average tenure of 7.76 years: Alfred Murata (2013), Emmanuel Sharef (2021), Daniel Ivascyn (2013), Usman Ali (2026). 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 MSCI ACWI High Dividend Yield NR USD index with a weighting of 100%. PIMCO Dividend and Income Institutional has 1658 securities in its portfolio. The top 10 holdings constitute 46.5% 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 Dividend and Income Institutional is part of the Allocation global asset class and is within the Allocation fund group. PIMCO Dividend and Income Institutional has 40.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 27.3%. There is 24.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 78.0% (61.8% domestic bond, 16.2% foreign bond and 0.0% convertible bond). PIMCO Dividend and Income Institutional has -29.4% of the portfolio in cash.

Assets Under Management

The fund has $63 million in total assets, which is below the $959 million average for the Global Moderate Allocation 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.

PQIIX 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 Dividend and Income Institutional expense ratio is high compared to funds in the Global Moderate Allocation category. PIMCO Dividend and Income Institutional has an expense ratio of 0.92%, which is 12% 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 Dividend and Income Institutional has a portfolio turnover rate of 436%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 65% for the Global Moderate Allocation category.

Recently, in the month of August 2026, PIMCO Dividend and Income Institutional returned 1.5%, which earned it a grade of D, as the Global Moderate Allocation category had an average return of 1.6%. 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 Dividend and Income Institutional has a trailing yield of 4.02%, which is above the 2.59% category average. The fund normally distributes its income quarterly 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 Dividend and Income Institutional Grades

Year to date, the fund has returned 12.1%, 2.2 percentage points better than the category, which translates into a grade of A. The fund has returned 18.2% over the past year (grade of A), 16.2% over the past three years (grade of A) and 9.8% per year over the past five years (grade of A) and 8.7% per year over the past 10 years (grade of A).

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