Fund Information

ETF Finder

Active/Index
Duration
Sector
Solution

Fund Overview
Objective FundObjective To provide total return that closely corresponds, before fees and expenses, to the total return of The BofA Merrill Lynch 15+ Year US Inflation-Linked Treasury Index^SM^*.
Ticker LTPZ	Type Index
NAV $67.14	Change $-1.36 \| -2.03%
As of 5/22/2013
Market Price $68.47	Change $0.00 \| 0.00%
As of 5/21/2013
Fund Sector U.S. TIPS
Duration Category Long
Total Expenses 0.20%

Documents

Downloads

How to Invest

Call us at 888.400.4ETF (4383) if you have questions or would like additional information about PIMCO ETFs.

Please Wait...

PIMCO 15+ Year U.S. TIPS Index Exchange-Traded Fund

Index

NAV

$67.14

Change

$-1.36

-2.03%

As of 5/22/2013

Market Price

$68.47

Change

$0.00

0.00%

As of 5/21/2013

Fund Description

The PIMCO 15+ Year U.S. TIPS Index Exchange-Traded Fund is the only exchange-traded fund (ETF) designed to capture, before fees and expenses, the returns of the longer maturity subset of the Treasury Inflation-Protected Securities (TIPS) market by tracking The BofA Merrill Lynch 15+ Year US Inflation-Linked Treasury Index^SM. The fund aims to achieve the real return (above inflation), capital preservation, and greater exposure to changes in real interest rates inherent in long maturity TIPS.

Vineer Bhansali
Dr. Bhansali is a managing director and portfolio manager in the Newport Beach office. He currently oversees PIMCO's quantitative investment portfolios. From 2000, he also headed PIMCO's firmwide analytics department. Prior to joining PIMCO in 2000, he was a proprietary trader in the fixed-income trading group at Credit Suisse First Boston and in the fixed income arbitrage group at Salomon Brothers in New York. Previously, he was head of the exotic and hybrid options trading desk at Citibank in New York. He is the author of numerous scientific and financial papers and of the books "Bond Portfolio Investing and Risk Management," "Pricing and Managing Exotic and Hybrid Options," and "Fixed Income Finance: A Quantitative Approach." He currently serves as an associate editor for the International Journal of Theoretical and Applied Finance. He has 22 years of investment experience and holds a Ph.D. in theoretical particle physics from Harvard University. He has a master's degree in physics and an undergraduate degree from the California Institute of Technology.

Ticker	LTPZ
CUSIP	72201R304
Inception Date	9/3/2009
Shares Outstanding	2,770,000
Total Net Assets	$189,758,102.43
Daily Trading Volume (in shares)	38,146
Premium/Discount Average (since inception)	0.04%
Premium/Discount as of market close	-0.04%
68.45
5/21/2013
16:00

As of 5/21/2013

Yield Information

Estimated Yield to Maturity	3.24%
SEC 30-Day Yield	4.15%

As of 5/21/2013

Portfolio Information

Number of Holdings	9
Effective Maturity	22.57 Years
Effective Duration	14.12 Years

As of 5/21/2013

Distribution Yield

0.00%

As of 4/30/2013

Full Performance & Risk

Index Information

Index Tracked	BofA Merrill Lynch 15+ Year U.S. Inflation-Linked Treasury Index
Index Ticker	G8QI
Inception Date	4/30/1998
Annualized Volatility (since inception)	10.25%
Rebalancing Frequency	Monthly

As of 4/30/2013

Index Description

BofA Merrill Lynch 15+ Year US Inflation-Linked Treasury Index 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 greater than 15 years. It is not possible to invest directly in an unmanaged index.

As of 5/22/2013

Dividends and Distributions

Full distribution history

As of 5/21/2013

Top 10 Holdings

U S TREASURY INFLATE PROT BD	25.67%
U S TREASURY INFLATE PROT BD	21.15%
U S TREASURY INFLATE PROT BD	14.89%
U S TREASURY INFLATE PROT BD	13.11%
U S TREASURY INFLATE PROT BD	12.76%
U S TREASURY INFLATE PROT BD	6.89%
U S TREASURY INFLATE PROT BD	5.13%
Adjusted Shares as of 05/21/2013	0.00%

View all holdings Download all holdings

As of 3/31/2013

Quarterly Trading Characteristics

Average Volume
In Shares	33,629
In $	$2,359,437.36

Bid/Ask Spread
In %	0.09%
In $	$0.06

Fund Tickers
NAV Per Share	LTPZ.NV
Und. Trading Value	LTPZ.IV
Shares Outstanding	LTPZ.SO
Est. Cash	LTPZ.EU
Total Cash	LTPZ.TC

Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results. Current performance may be lower or higher than performance shown. Investment return and principal value will fluctuate, so that Fund shares may be worth more or less than their original cost when sold. Performance data current to the most recent month-end is available by clicking HERE or by calling 888-400-4ETF.

Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. This and other information are contained in the fund’s prospectus, which may be obtained by contacting your PIMCO representative or by clicking HERE. Please read the prospectus carefully before you invest.

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.

PIMCO calculates a Fund's Estimated Yield to Maturity by averaging the yield to maturity of each security held in the Fund on a market weighted basis. PIMCO pulls each security's yield to maturity from PIMCO's Portfolio Analytics database. When not available in the PIMCO's Portfolio Analytics database, PIMCO pulls the security's yield to maturity from Bloomberg. When not available in either database, PIMCO will assign a yield to maturity for that security from a PIMCO matrix based on prior data.

The distribution yield for monthly paying Funds is calculated by annualizing actual dividends distributed for the monthly period ended on the date shown and dividing by the net asset value on the last business day for the same period. The distribution yield for quarterly paying Funds is calculated by taking the average of the prior four quarterly distribution yields. The quarterly distribution yields are calculated by annualizing actual dividends distributed for the quarterly period ended on the most recent quarterly distribution date and dividing by the net asset value for the same date. The yield does not include long- or short-term capital gains distributions.

Effective duration is the duration for a bond with an embedded option when the value is calculated to include the expected change in cash flow caused by the option as interest rates change.

Effective Maturity is the weighted average of the maturities of the underlying bonds. The measure is computed by weighing each bond’s maturity by its market value with respect to the portfolio and the likelihood of any of the bonds being called.

In order to provide additional information regarding the intra-day value of shares of the Fund, the NYSE Arca, Inc. or a market data vendor disseminates every 15 seconds through the facilities of the Consolidated Tape Association or other widely disseminated means an updated Indicative NAV (“iNAV”) for the Fund as calculated by an information provider or market data vendor. The Fund is not involved in or responsible for any aspect of the calculation or dissemination of the iNAV and makes no representation or warranty as to the accuracy of the iNAV.

Net Asset Value (NAV) represents an ETFs per-share value. The per-share value of an ETF is calculated by dividing the total value of the securities in its portfolio, less any liabilities, by the number of ETF shares outstanding. ETF shares are valued as of the close of regular trading (normally 4:00 P.M. Eastern Time) (The “NYSE Close”) on each business day.

The Net Asset Value (NAV), Shares Outstanding and Total Net Assets are calculated as of the close of regular trading on each day that the NYSE Arca is open, and do not reflect security transactions or fund shares created or redeemed on the date stated. Such transactions are recorded on the next business day and reported on the website the following business day.

Returns are average annualized total returns, except for those periods of less than one year, which are cumulative. Market returns are based upon the midpoint of the bid/ask spread at 4:00 pm Eastern time (when NAV is normally determined for most Funds), and do not represent the returns you would receive if you traded shares at other times.

ETF shares may be bought or sold throughout the day at their market price on the exchange on which they are listed. However, there can be no guarantee that an active trading market for PIMCO ETF shares will develop or be maintained, or that their listing will continue or remain unchanged.

Buying or selling ETF shares on an exchange may require the payment of brokerage commissions. Due to these brokerage costs, if any, frequent trading may detract significantly from investment returns.

ETF shares are not sold or bought at their net asset value (NAV) like mutual fund shares. ETF shares’ market price may be at, above or below the funds’ NAV. The NAV of the fund will fluctuate with changes in the market value of its portfolio holdings, and the market price of an ETF’s shares will fluctuate with changes in the NAV as well as supply and demand in the market for the shares. The market price of ETF shares may differ significantly from their NAV during periods of market volatility. ETF shares may only be redeemed directly with the fund at NAV by Authorized Participants, in very large redemption/creation units.

A Word About Risk: An investment in an ETF involves risk, including the loss of principal. Investment return, price, yield and Net Asset Value (NAV) will fluctuate with changes in market conditions. Investments may be worth more or less than the original cost when redeemed. Certain U.S. Government securities are backed by the full faith of the government, obligations of U.S. Government agencies and authorities are supported by varying degrees but are generally not backed by the full faith of the U.S. Government; portfolios that invest in such securities are not guaranteed and will fluctuate in value. Inflation-linked bonds (ILBs) issued by a government are fixed-income securities whose principal value is periodically adjusted according to the rate of inflation; ILBs decline in value when real interest rates rise. Treasury Inflation-Protected Securities (TIPS) are ILBs issued by the U.S. Government. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested.

The Fund uses an indexing approach and may be affected by a general decline in market segments or asset classes relating to its Underlying Index. The Fund invests in securities and instruments included in, or representative of, its Underlying Index regardless of the investment merits of the Underlying Index.

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 15+ Year US Inflation-Linked Treasury Index^SM 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 greater than or equal to 15 years. It is not possible to invest directly in an unmanaged index.

*“BofA Merrill Lynch” and “The BofA Merrill Lynch 15+ Year US Inflation-Linked Treasury Index^SM” are reprinted with permission. © Copyright 2013 Merrill Lynch, Pierce, Fenner & Smith Incorporated (“BofA Merrill Lynch”). All rights reserved. “BofA Merrill Lynch” and "The BofA Merrill Lynch 15+ Year US Inflation-Linked Treasury Index^SM” 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 15+ Year U.S. TIPS Index Fund PIMCO 15+ Year U.S. TIPS Index Exchange-Traded Fund that is based on The BofA Merrill Lynch 15+ Year US Inflation-Linked Treasury 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 15+ 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 15+ Year U.S. TIPS Index Exchange-Traded Fund or The BofA Merrill Lynch 15+ Year US Inflation-Linked Treasury Index^SM and do not guarantee the quality, accuracy or completeness of The BofA Merrill Lynch 15+ Year US Inflation-Linked Treasury Index^SM, 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 15+ Year US Inflation-Linked Treasury IndexSM and trade names which are composed by BofA Merrill Lynch without regard to PIMCO, the PIMCO 15+ 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 15+ Year U.S. TIPS Index Exchange-Traded Fund and are not responsible for the performance of the PIMCO 15+ Year U.S. TIPS Index Exchange-Traded Fund.

PIMCO

Your Global Investment Authority

Welcome to PIMCO ETFs

Core Fixed Income

U.S. Treasury

U.S. TIPS

Municipal

Corporate

Global

Currency

Global Inflation-Linked

Education

Point of View

Webcasts and Audio

Fund Information

Actively Managed Funds

Index Funds

Ultra-Low

Low

Intermediate

Long

Ultra-Long

Core Fixed Income

U.S. Treasury

U.S. TIPS

Municipal

Corporate

Global

Currency

Global Inflation-Linked

Core Fixed Income

Liquidity Management

Alternatives

U.S. Treasury Indexes

Inflation Protection

Tax Awareness

Credit

Global Diversification

Objective

Ticker

Type

NAV

Change

Market Price

Change

Fund Sector

Duration Category

TotalExpenses

How to Invest

PIMCO 15+ Year U.S. TIPS Index Exchange-Traded Fund

NAV

Change

Market Price

Change

Fund Description

Portfolio Management