PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund
CORP

$99.67

0.01%

Market Cap: $1.27B

0

Funds holding %

of 6,728 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

17% more funds holding in top 10

Funds holding in top 10: 6 [Q1] → 7 (+1) [Q2]

14% more first-time investments, than exits

New positions opened: 16 | Existing positions closed: 14

1% more funds holding

Funds holding: 157 [Q1] → 159 (+2) [Q2]

7% more repeat investments, than reductions

Existing positions increased: 63 | Existing positions reduced: 59

2% less capital invested

Capital invested by funds: $875M [Q1] → $855M (-$20.5M) [Q2]

2.83% less ownership

Funds ownership: 79.14% [Q1] → 76.32% (-2.83%) [Q2]

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Research analyst outlook

We haven’t received any recent analyst ratings for CORP.

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Financial journalist opinion

CORP: Pimco's Answer To An Investment Grade Corporate Bond Fund

PIMCO's corporate bond ETF seeks to provide optimized exposure to investment grade corporate bonds with excess yield relative to government securities. The fund has over 1,500 holdings, with a focus on investment grade corporate bonds, particularly BBB-rated credits, and has a 6.2 years duration. The ETF has performed similarly to the larger iShares iBoxx $ Investment Grade Corporate Bond ETF, with a slight outperformance due to lower duration.

CORP: Pimco's Answer To An Investment Grade Corporate Bond Fund

The Credit Opportunity In M&A

M&A was almost dormant in 2023. In the US, as a proportion of the market value of the benchmark equity indices, it fell to its lowest level in 20 years, according to McKinsey. Credit investors are not traditionally supposed to be fans of M&A, and it's true we are wary of leveraging M&A, where debt is loaded onto balance sheets to buy competitors. We are seeing a comeback for M&A that we think is likely to continue through 2024.

The Credit Opportunity In M&A

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