Fund Evaluator:
PIMCO RAE Worldwide Long/Short PLUS A (PWLBX)
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Best Performing in Long-Short Equity Over the Last Year
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Fund Details
PIMCO RAE Worldwide Long/Short PLUS A Overview
PIMCO RAE Worldwide Long/Short PLUS A (PWLBX) is an actively managed Nontraditional Equity Long-Short Equity fund. PIMCO launched the fund in 2019.
The investment seeks long-term capital appreciation, consistent with prudent investment management. The fund seeks to achieve its investment objective under normal circumstances by obtaining long exposure to three separate stock portfolios representing developed and developing markets, short exposure to corresponding capitalization-weighted equity indexes, and complementing this equity exposure with absolute return bond alpha strategy.
About PIMCO RAE Worldwide Long/Short PLUS A (PWLBX)
There are 7 members of the management team with an average tenure of 6.02 years: Robert Arnott (2014), Jing Yang (2018), Daniel Hyman (2025), Bryan Tsu (2018), Graham Rennison (2019), 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 ACWI NR USD index with a weighting of 100% and ICE BofA SOFR Overnight Bid TR USD index with a weighting of 100%. PIMCO RAE Worldwide Long/Short PLUS A has 1248 securities in its portfolio. The top 10 holdings constitute 234.7% 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 Worldwide Long/Short PLUS A is part of the Equity global asset class and is within the Nontraditional Equity fund group. PIMCO RAE Worldwide Long/Short PLUS A has 47.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 72.7%. There is -1.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 118.4% (69.9% domestic bond, 48.6% foreign bond and 0.0% convertible bond). PIMCO RAE Worldwide Long/Short PLUS A has -90.1% of the portfolio in cash.
Assets Under Management
The fund has $17 million in total assets, which is below the $352 million average for the Long-Short Equity 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.
PWLBX 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 Worldwide Long/Short PLUS A expense ratio is high compared to funds in the Long-Short Equity category. PIMCO RAE Worldwide Long/Short PLUS A has an expense ratio of 1.72%, which is 22% lower than its category average, making the fund expense ratio grade a B. 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 Worldwide Long/Short PLUS A has a portfolio turnover rate of 894%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 287% for the Long-Short Equity category.
Recently, in the month of July 2026, PIMCO RAE Worldwide Long/Short PLUS A returned 6.6%, which earned it a grade of A, as the Long-Short Equity category had an average return of 2.6%. 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 RAE Worldwide Long/Short PLUS A has a trailing yield of 6.42%, which is above the 1.15% category average. The fund normally distributes its income quarterly.
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 Worldwide Long/Short PLUS A Grades
Year to date, the fund has returned 5.4%, 2.1 percentage points worse than the category, which translates into a grade of D. The fund has returned 8.7% over the past year (grade of D), 9.7% over the past three years (grade of D) and 7.5% per year over the past five years (grade of C) and 5.5% per year over the past 10 years (grade of F).
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PWLBX 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 |
|
| PWLBX Return (NAV) | 6.6% | 1.8% | 8.7% | 9.7% | 7.5% | 5.5% |
| PWLBX Grade | A | D | D | D | C | F |
| +/- Category | 4.1% | -1.8% | -5.4% | -2.2% | -1.3% | -2.4% |
| Long-Short Equity Avg | 2.6% | 3.6% | 14.1% | 11.9% | 8.8% | 7.9% |
| PWLBX Tax Cost Ratio | na | na | 2.6% | 3.8% | 4.0% | na |
PWLBX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PWLBX Return (NAV) | 5.4% | 7.0% | 13.6% | 3.7% | 3.9% | 14.7% | -12.9% | 9.1% | -0.0% | 11.4% | 13.1% |
| PWLBX Grade | D | D | C | F | B | D | F | D | A | C | A |
| +/- Category | -2.1% | -4.5% | 0.2% | -9.4% | 7.8% | -6.5% | -18.7% | -4.2% | 7.9% | -0.3% | 5.8% |
| Long-Short Equity Avg | 7.5% | 11.4% | 13.4% | 13.0% | -3.8% | 21.2% | 5.8% | 13.3% | -7.9% | 11.6% | 7.3% |
| Risk Measures | |
| Standard Deviation: | 9.3% |
| Total Risk Index: | 0.76 - Below Average |
| Category Risk Index: | 0.88 - Average |
| Category Risk Grade: | C (44% Rank) |
| Beta: | -0.14 |
| R-Squared: | 4% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 6.4% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | |
| Total Assets: | $432 Mil |
| Fund Total Assets: | $ 18 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 894% |
Management Team
| Number of Managers: 7 | |||
| Longest Tenure: 11.7 years | |||
| Average Tenure: 6.0 years | |||
| Managers (Year): Arnott Robert (2014), Yang Jing (2018), Tsu Bryan (2018), Rennison Graham (2019), Seidner Marc (2021), Hyman Daniel (2025), Masturzo Jim (2025) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 1248 |
| % in Top 10 Holdings: | 234.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 47.6% |
Portfolio Allocation |
|
| Domestic Stock: | 72.7% |
| Foreign Stock: | -1.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 69.9% |
| Foreign Bond: | 48.6% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -90.1% |
Purchase Information
| Fund Family: | PIMCO |
| Phone Number: | 888-877-4626 |
| Website: | www.pimco.com |
| Status: | Open |
| Inception Date: | August 23, 2019 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 5.50% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.72% ( Rating : High ) |
| Category Average Expense Ratio (%): | 2.19% |
| Share Class: | PIMCO RAE Worldwide Long/Short PLUS Inst |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 0 |
