Fund Evaluator:
PIMCO TRENDS Fund C (PQTCX)
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Best Performing in Systematic Trend Over the Last Year
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Fund Details
PIMCO TRENDS Fund C Overview
PIMCO TRENDS Fund C (PQTCX) is an actively managed Alternative Systematic Trend fund. PIMCO launched the fund in 2023.
The investment seeks positive, risk-adjusted returns, consistent with prudent investment management. The fund seeks to achieve its investment objective by pursuing a quantitative trading strategy intended to capture the persistence of price trends (up and/or down) observed in global financial markets and commodities. It will invest under normal circumstances in derivative instruments linked to interest rates, currencies, mortgages, credit, commodities (including individual commodities and commodity indices), equity indices and volatility-related instruments and may also invest directly in mortgage-related and other asset-backed securities.
About PIMCO TRENDS Fund C (PQTCX)
There are 2 members of the management team with an average tenure of 12.59 years: Matthew Dorsten (2013), Graham Rennison (2013). 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 ICE BofA SOFR Overnight Rate TR USD index with a weighting of 100%. PIMCO TRENDS Fund C has 579 securities in its portfolio. The top 10 holdings constitute 103.2% 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 TRENDS Fund C is part of the Alternative Strategies global asset class and is within the Alternative fund group. PIMCO TRENDS Fund C has -142.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -6.3%. There is 14.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is -304.9% (-148.1% domestic bond, -156.8% foreign bond and 0.0% convertible bond). PIMCO TRENDS Fund C has 335.5% of the portfolio in cash.
Assets Under Management
The fund has $153 million in total assets, which is below the $260 million average for the Systematic Trend 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.
PQTCX 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 TRENDS Fund C expense ratio is high compared to funds in the Systematic Trend category. PIMCO TRENDS Fund C has an expense ratio of 2.69%, which is 33% higher than its category average, making the fund expense ratio grade a F. 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 TRENDS Fund C has a portfolio turnover rate of 1004%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 216% for the Systematic Trend category.
Recently, in the month of July 2026, PIMCO TRENDS Fund C returned -2.4%, which earned it a grade of F, as the Systematic Trend category had an average return of -0.0%. 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 TRENDS Fund C has a trailing yield of 1.15%, which is below the 2.63% 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 TRENDS Fund C Grades
Year to date, the fund has returned 2.1%, 5.1 percentage points worse than the category, which translates into a grade of F. The fund has returned 14.1% over the past year (grade of D), -0.7% over the past three years (grade of D) and 1.6% per year over the past five years (grade of F) and 2.5% per year over the past 10 years (grade of D).
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PQTCX 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 |
|
| PQTCX Return (NAV) | -2.4% | -2.0% | 14.1% | -0.7% | 1.6% | 2.5% |
| PQTCX Grade | F | D | D | D | F | D |
| +/- Category | -2.4% | -1.1% | -3.9% | -3.5% | -3.7% | -0.6% |
| Systematic Trend Avg | -0.0% | -0.8% | 18.0% | 2.8% | 5.3% | 3.1% |
| PQTCX Tax Cost Ratio | na | na | 0.5% | 0.2% | na | na |
PQTCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PQTCX Return (NAV) | 2.1% | 1.3% | -4.0% | -5.3% | 10.3% | 13.6% | 7.8% | 1.7% | 1.2% | 1.2% | 2.1% |
| PQTCX Grade | F | D | D | D | F | A | B | D | B | D | A |
| +/- Category | -5.1% | -1.8% | -4.5% | -1.5% | -11.2% | 8.7% | 2.7% | -3.6% | 6.6% | -3.3% | 5.5% |
| Systematic Trend Avg | 7.2% | 3.1% | 0.4% | -3.8% | 21.5% | 4.9% | 5.1% | 5.3% | -5.4% | 4.5% | -3.4% |
| Risk Measures | |
| Standard Deviation: | 9.3% |
| Total Risk Index: | 0.76 - Below Average |
| Category Risk Index: | 0.94 - Average |
| Category Risk Grade: | C (51% Rank) |
| Beta: | 0.02 |
| R-Squared: | 0% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 1.2% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1797 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 1004% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 12.6 years | |||
| Average Tenure: 12.6 years | |||
| Managers (Year): Dorsten Matthew (2013), Rennison Graham (2013) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 579 |
| % in Top 10 Holdings: | 103.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | -142.0% |
Portfolio Allocation |
|
| Domestic Stock: | -6.3% |
| Foreign Stock: | 14.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | -148.1% |
| Foreign Bond: | -156.8% |
| Convertible Bond: | 0.0% |
| Other: | 60.9% |
| Cash: | 335.5% |
Purchase Information
| Fund Family: | PIMCO |
| Phone Number: | 888-877-4626 |
| Website: | www.pimco.com |
| Status: | Closed |
| Inception Date: | May 26, 2023 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 2.69% ( Rating : High ) |
| Category Average Expense Ratio (%): | 2.02% |
| Share Class: | PIMCO TRENDS Fund Institutional |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 0 |
