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

NAV
$140.22
1 Day Return
$1.49  |   1.07%

As of 7/29/2016

Market Price
$140.13
1 Day Return
$1.59  |   1.15%

As of 7/29/2016

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


Steve A. Rodosky

Steve A. Rodosky
Mr. Rodosky is a managing director in the Newport Beach office and a portfolio manager covering Treasury bonds, agencies and futures. He is the lead portfolio manager for long duration strategies. Prior to joining PIMCO in 2001, Mr. Rodosky was vice president of institutional sales with Merrill Lynch. He has 21 years of investment experience and holds a master's degree in financial markets from Illinois Institute of Technology. He received an undergraduate degree from Villanova University.

Mike Cudzil

Mike Cudzil
Mr. Cudzil is an executive vice president in the Newport Beach office, co-head of the agency mortgage portfolio management team and a long duration portfolio manager. He also manages select total return bond portfolios. He is a member of the New Product Review Committee, and he previously served as a rotating member of the Investment Committee and as chair of the Americas Portfolio Committee. Prior to joining PIMCO in 2012, he worked as a managing director and head of pass-through trading at Nomura. Mr. Cudzil previously held similar roles at Bank of America and Lehman Brothers, as well as a senior trading position at Salomon Brothers. He has 18 years of investment experience and holds a bachelor's degree in political science from the University of Pennsylvania.

Matt Dorsten

Matt Dorsten
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.

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Fund Information

As of 7/29/2016

Ticker ZROZ
CUSIP 72201R882
Inception Date 10/30/2009
Shares Outstanding 2,770,000
Total Net Assets $388,398,280.42
Daily Trading Volume
(in shares)
24,795
Premium/Discount Average
(since inception)
0.03%
Premium/Discount as
of market close
-0.06%
Closing Price 140.13

As of 7/29/2016 4:00PM EST

Yield Information

Estimated Yield to Maturity 2.25%
SEC 30-Day Yield 2.16%

As of 7/29/2016

Distribution Yield 1.98%

As of 6/30/2016

Portfolio Information

Number of Holdings 20
Effective Maturity 27.37 Years
Effective Duration 27.37 Years

As of 7/29/2016

Tracking Error 1.85%

Since Inception as of 6/30/2016

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 24.85%

As of 6/30/2016

As of 7/29/2016

Dividends and Distributions

Full distribution history

As of 7/29/2016

Top 10 Holdings**

U S T STRIP PRINC (3.75% 2041) 5.60%
U S T STRIP PRINC (3.125% 2042) 5.53%
U S T STRIP PRINC (2.75% 2042) 5.34%
U S T STRIP PRINC (3.125% 2043) 5.14%
U S T STRIP PRINC (3.625% 2043) 5.11%
U S T STRIP PRINC (3.375% 2044) 5.09%
U S T STRIP PRINC (3.0% 2042) 5.07%
U S T STRIP PRINC (2.875% 2043) 5.05%
U S T STRIP PRINC (3.625% 2044) 5.03%
U S T STRIP PRINC (2.75% 2042) 5.00%

As of 6/30/2016

Quarterly Trading Characteristics

Average Volume
In Shares 62,064
In $ $7,962,303.41
Bid/Ask Spread
In % 0.15%
In $ $0.19
Fund Tickers
NAV Per Share ZROZ.NV
Und. Trading Value ZROZ.IV
Shares Outstanding ZROZ.SO
Est. Cash ZROZ.EU
Total Cash TUZ.TC