PIMCO Thought Leadership
Series of videos on our full range of ETF vehicles
Dividends and Distributions, Tax Information, Holdings, Prospectuses, Reports and Other Information
As of 9/23/2016
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The 1-5 Year U.S. TIPS Index Exchange-Traded Fund is the first exchange-traded fund (ETF) designed to capture, before fees and expenses, the returns of the shorter maturity subset of the Treasury Inflation-Protected Securities (TIPS) market by tracking The BofA Merrill Lynch 1-5 Year US Inflation-Linked Treasury Index. The fund aims to achieve the real return (above inflation), capital preservation, and low volatility level inherent in short maturity TIPS.
Mr. Banet is an executive vice president in the Newport Beach office and a portfolio manager on the real return team. Prior to joining PIMCO in 2011, he traded inflation-linked investments at Nomura Fixed Income. Prior to that, he was with BNP Paribas, most recently as head of U.S. inflation trading. He has 14 years of investment and financial services experience and holds a master's degree in applied economics and an undergraduate degree from Paris IX Dauphine University.
Mr. Dorsten is a senior vice president in the quantitative portfolio group in the Newport Beach office, focusing on quantitative strategy and passive replication. He was previously a member of the financial engineering group working on mortgage-backed securities and event-linked bonds. Prior to joining PIMCO in 2006, he received his Ph.D. in theoretical particle physics from the California Institute of Technology, where he was a National Science Foundation Graduate Research Fellow. He has nine years of investment experience and holds undergraduate degrees in mathematics and physics from Ohio State University.
As of 9/23/2016 8:00PM EST
As of 9/22/2016
As of 8/31/2016
As of 9/22/2016
Since Inception as of 8/31/2016
As of 8/31/2016
As of 6/30/2016
The last recorded trade price before today, often referred to as a “Closing Price” of
The SEC yield is an annualized yield based on the most recent 30 day period. The fund’s yield quotation includes an adjustment to the principal value of the TIPS securities to reflect changes in the government’s official inflation rate, if any; changes in the government’s official inflation rate can cause the fund’s yield to vary substantially from one month to the next. At times, including during periods of deflation, the SEC yield calculation may result in a negative number. An exceptionally high SEC yield may be attributable to a rise in the inflation rate, which might not be repeated.
Premiums or discounts are the differences (expressed as a percentage) between the NAV and the Market Price of the Fund on a given day, generally at the time the NAV is calculated. A premium is the amount that the Fund is trading above the reported NAV, expressed as a percentage of the NAV. A discount is the amount that the Fund is trading below the reported NAV, expressed as a percentage of the NAV. The since inception premium/discount average is calculated by averaging the daily premium/discount since the inception of the fund. The daily premium/discount is the difference between the daily market price for shares of the Fund and the Fund's net asset value. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated.
The BofA Merrill Lynch 1-5 Year US Inflation-Linked Treasury IndexSM is an unmanaged index comprised of U.S. Treasury Inflation Protected Securities with at least $1 billion in outstanding face value and a remaining term to final maturity of at least 1 year and less than 5 years. It is not possible to invest directly in an unmanaged index. *“BofA Merrill Lynch” and “The BofA Merrill Lynch 1-5 Year US Inflation-Linked IndexSM” are reprinted with permission. © Copyright 2012 Merrill Lynch, Pierce, Fenner & Smith Incorporated (“BofA Merrill Lynch”). All rights reserved. “BofA Merrill Lynch” and "The BofA Merrill Lynch 1-5 Year US Inflation-Linked IndexSM” are service marks of BofA Merrill Lynch and/or its affiliates and have been licensed for use for certain purposes by PIMCO on behalf of the PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund that is based on The BofA Merrill Lynch 1-5 Year US Inflation-Linked IndexSM, and is not issued, sponsored, endorsed or promoted by BofA Merrill Lynch and/or BofA Merrill Lynch’s affiliates nor is BofA Merrill Lynch and/or BofA Merrill Lynch’s affiliates an adviser to the PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund. BofA Merrill Lynch and BofA Merrill Lynch’s affiliates make no representation, express or implied, regarding the advisability of investing in the PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund or The Merrill Lynch 1-5 Year US Inflation-Linked Treasury IndexSM and do not guarantee the quality, accuracy or completeness of The BofA Merrill Lynch 1-5 Year US Inflation-Linked Treasury IndexSM, Index Values or any Index related data included herein, provided herewith or derived therefrom and assume no liability in connection with their use. As the index provider, BofA Merrill Lynch is licensing certain trademarks, The BofA Merrill Lynch 1-5 Year US Inflation-Linked Treasury IndexSM and trade names which are composed by BofA Merrill Lynch without regard to PIMCO, the PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund or any investor. BofA Merrill Lynch and BofA Merrill Lynch’s affiliates do not provide investment advice to PIMCO or the PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund and are not responsible for the performance of the PIMCO 1-5 Year U.S. TIPS Index Exchange-Traded Fund.