Fund Evaluator:

PIMCO RAE PLUS International I-2 Overview

PIMCO RAE PLUS International I-2 (PTIPX) is an actively managed International Equity Foreign Large Value fund. PIMCO launched the fund in 2014.

The investment seeks total return which exceeds that of the MSCI EAFE Value Index. The fund seeks to exceed the total return of the MSCI EAFE Value Index under normal circumstances by obtaining exposure to a portfolio of stocks economically tied to foreign (non-U.S.) countries ("RAE International Large Model Portfolio"), and complementing this equity exposure with absolute return bond alpha strategy ("AR Bond Alpha Strategy"). It may invest up to 25% of its total assets in securities and instruments that are economically tied to emerging market countries. The fund may also invest up to 10% of its total assets in preferred securities.

About PIMCO RAE PLUS International I-2 (PTIPX)

There are 6 members of the management team with an average tenure of 5.85 years: Robert Arnott (2014), Jing Yang (2018), Daniel Hyman (2025), Bryan Tsu (2018), Jim Masturzo (2025), Marc Seidner (2021). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI EAFE NR USD index with a weighting of 100% and MSCI EAFE Value NR USD index with a weighting of 100%. PIMCO RAE PLUS International I-2 has 1048 securities in its portfolio. The top 10 holdings constitute 219.8% 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 RAE PLUS International I-2 is part of the Equity global asset class and is within the International Equity fund group. PIMCO RAE PLUS International I-2 has 44.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 100.4%. There is 0.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 117.0% (72.7% domestic bond, 44.3% foreign bond and 0.0% convertible bond). PIMCO RAE PLUS International I-2 has -117.9% of the portfolio in cash.

Assets Under Management

The fund has $1 million in total assets, which is below the $976 million average for the Foreign Large Value 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.

PTIPX 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 RAE PLUS International I-2 expense ratio is high compared to funds in the Foreign Large Value category. PIMCO RAE PLUS International I-2 has an expense ratio of 1.05%, which is the same as 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 RAE PLUS International I-2 has a portfolio turnover rate of 946%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Foreign Large Value category.

Recently, in the month of July 2026, PIMCO RAE PLUS International I-2 returned 7.0%, which earned it a grade of A, as the Foreign Large Value category had an average return of 3.8%. 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 RAE PLUS International I-2 has a trailing yield of 10.81%, which is above the 2.78% 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 RAE PLUS International I-2 Grades

Year to date, the fund has returned 18.9%, 4.0 percentage points better than the category, which translates into a grade of A. The fund has returned 38.7% over the past year (grade of A), 21.2% over the past three years (grade of B) and 12.2% per year over the past five years (grade of C) and 10.7% per year over the past 10 years (grade of B).

For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.

Otherwise, for more information about PIMCO RAE PLUS International I-2, including its riskiness, submit your email to unlock the rest of the article.