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PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund

NAV
$109.11
Change
$0.12  |   0.11%

As of 10/30/2014

Market Price
$109.29
Change
$0.32  |   0.29%

As of 10/30/2014

Fund Description

The PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund is an exchange-traded fund (ETF) that aims to capture the returns of The BofA Merrill Lynch Long US Treasury Principal STRIPS IndexSM. By tracking the index, the fund aims to achieve, before fees and expenses, the yield and duration exposure inherent in this index.

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Portfolio Management


Vineer Bhansali

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," "Fixed Income Finance: A Quantitative Approach" and the most recent book, "Tail Risk Hedging". He has 24 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.

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Fund Information

As of 10/30/2014

Ticker ZROZ
CUSIP 72201R882
Inception Date 10/30/2009
Shares Outstanding 720,000
Total Net Assets $78,559,537.65
Daily Trading Volume
(in shares)
6,241
Premium/Discount Average
(since inception)
0.00%
Premium/Discount as
of market close
0.16%
Closing Price 109.52

As of 10/30/2014 4:00PM EST

Yield Information

Estimated Yield to Maturity 3.13%
SEC 30-Day Yield 2.95%

As of 10/30/2014

Distribution Yield 3.42%

As of 9/30/2014

Portfolio Information

Number of Holdings 21
Effective Maturity 27.35 Years
Effective Duration 27.35 Years

As of 10/30/2014

Full Performance & Risk

Index Information

Index
BofA Merrill Lynch Long U.S. Treasury Principal STRIPS Index
Index Description

BofA Merrill Lynch Long U.S. Treasury Principal STRIPS Index is an unmanaged index comprised of long maturity Separate Trading of Registered Interest and Principal of Securities (“STRIPS”) representing the final principal payment of U.S. Treasury bonds. The principal STRIPS comprising the Underlying Index must have 25 years or more remaining term to final maturity and must be stripped from U.S. Treasury bonds having at least $1 billion in outstanding face value.
Index Ticker STPL
Inception Date 12/31/1996
Rebalancing Frequency Quarterly
Annualized Volatility 24.70%

As of 9/30/2014

As of 10/30/2014

Dividends and Distributions

Full distribution history

As of 10/30/2014

Top 10 Holdings

U S T STRIP PRINC (4.375% 2039) 5.63%
U S T STRIP PRINC (4.75% 2041) 5.55%
U S T STRIP PRINC (3.75% 2041) 5.42%
U S T STRIP PRINC (3.875% 2040) 5.37%
U S T STRIP PRINC (4.375% 2040) 5.30%
U S T STRIP PRINC (3.125% 2042) 5.27%
U S T STRIP PRINC (4.625% 2040) 5.23%
U S T STRIP PRINC (2.75% 2042) 5.20%
U S T STRIP PRINC (4.25% 2040) 5.18%
U S T STRIP PRINC (4.375% 2041) 4.92%

As of 9/30/2014

Quarterly Trading Characteristics

Average Volume
In Shares 22,719
In $ $2,344,155.95
Bid/Ask Spread
In % 0.25%
In $ $0.25
Fund Tickers
NAV Per Share ZROZ.NV
Und. Trading Value ZROZ.IV
Shares Outstanding ZROZ.SO
Est. Cash ZROZ.EU
Total Cash TUZ.TC