Fund Evaluator:
PIMCO Low Duration Credit C (PSRWX)
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Fund Details
PIMCO Low Duration Credit C Overview
PIMCO Low Duration Credit C (PSRWX) is an actively managed Taxable Bond Bank Loan fund. PIMCO launched the fund in 2011.
The investment seeks a high level of current income, consistent with prudent investment management. The fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets in a diversified portfolio of Fixed Income Instruments. “Fixed Income Instruments” include bank loans, bonds, debt securities and other similar instruments issued by various U.S. and non-U.S. entities. The fund may invest up to 25% of its total assets in securities denominated in foreign currencies and in U.S. dollar-denominated securities of foreign issuers.
About PIMCO Low Duration Credit C (PSRWX)
There are 3 members of the management team with an average tenure of 4.20 years: Sonali Pier (2023), Jason Duko (2023), David Forgash (2020). Management tenure is more important for actively managed funds than passive index funds.
The fund has 3 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100%, ICE BofA 1-5Y US HY Cons TR USD index with a weighting of 50% and JPM Leveraged Loan TR USD index with a weighting of 50%. PIMCO Low Duration Credit C has 455 securities in its portfolio. The top 10 holdings constitute 35.8% 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 Low Duration Credit C is part of the Fixed Income global asset class and is within the Taxable Bond fund group. PIMCO Low Duration Credit C has 6.6% 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 108.7% (102.1% domestic bond, 6.6% foreign bond and 0.0% convertible bond). PIMCO Low Duration Credit C has -8.7% of the portfolio in cash.
Assets Under Management
The fund has $3 million in total assets, which is below the $348 million average for the Bank Loan 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.
PSRWX 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 Low Duration Credit C expense ratio is high compared to funds in the Bank Loan category. PIMCO Low Duration Credit C has an expense ratio of 1.83%, which is 74% 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 Low Duration Credit C has a portfolio turnover rate of 69%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Bank Loan category.
Recently, in the month of August 2026, PIMCO Low Duration Credit C returned 0.8%, which earned it a grade of D, as the Bank Loan category had an average return of 0.8%. 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 Low Duration Credit C has a trailing yield of 5.63%, which is below the 6.64% 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 Low Duration Credit C Grades
Year to date, the fund has returned 1.6%, 1.1 percentage points worse than the category, which translates into a grade of F. The fund has returned 3.5% over the past year (grade of D), 6.7% over the past three years (grade of C) and 4.7% per year over the past five years (grade of D) and 3.3% per year over the past 10 years (grade of F).
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PSRWX 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 |
|
| PSRWX Return (NAV) | 0.8% | 1.0% | 3.5% | 6.7% | 4.7% | 3.3% |
| PSRWX Grade | D | F | D | C | D | F |
| +/- Category | -0.0% | -0.5% | -0.7% | 0.2% | -0.6% | -1.1% |
| Bank Loan Avg | 0.8% | 1.5% | 4.2% | 6.5% | 5.2% | 4.4% |
| PSRWX Tax Cost Ratio | na | na | 2.3% | 2.4% | 2.2% | 1.7% |
PSRWX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PSRWX Return (NAV) | 1.6% | 6.1% | 8.2% | 10.4% | -3.0% | 2.3% | -2.4% | 8.2% | -1.6% | 2.7% | 6.6% |
| PSRWX Grade | F | B | C | F | D | F | F | B | F | F | F |
| +/- Category | -1.1% | 1.0% | 0.0% | -1.6% | -0.7% | -2.4% | -3.7% | 0.7% | -1.3% | -0.9% | -2.6% |
| Bank Loan Avg | 2.8% | 5.1% | 8.2% | 12.1% | -2.4% | 4.7% | 1.3% | 7.6% | -0.4% | 3.7% | 9.2% |
| Risk Measures | |
| Standard Deviation: | 2.7% |
| Total Risk Index: | 0.22 - Low |
| Category Risk Index: | 1.35 - High |
| Category Risk Grade: | F (99% Rank) |
| Beta: | 0.29 |
| R-Squared: | 39% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 5.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $133 Mil |
| Fund Total Assets: | $ 3 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 69% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 6.4 years | |||
| Average Tenure: 4.2 years | |||
| Managers (Year): Forgash David (2020), Duko Jason (2023), Pier Sonali (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 455 |
| % in Top 10 Holdings: | 35.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 6.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 102.1% |
| Foreign Bond: | 6.6% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -8.7% |
Purchase Information
| Fund Family: | PIMCO |
| Phone Number: | 888-877-4626 |
| Website: | www.pimco.com |
| Status: | Open |
| Inception Date: | April 29, 2011 |
| 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 (%): | 1.83% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.05% |
| Share Class: | PIMCO Low Duration Credit Instl |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 0 |
