PIMCO Preferred And Capital Securities Active Exchange-Traded Fund
PRFD
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- PIMCO Preferred and Capital Securities Active Exchange-Traded Fund (PRFD) is an actively managed exchange-traded fund that seeks to maximize total return through current income and capital appreciation by investing primarily in a diversified portfolio of U.S. dollar-denominated preferred securities and capital securities issued by U.S. and non-U.S. financial institutions, including banks and insurance companies that satisfy regulatory capital requirements; the fund normally invests at least 80% of its assets in such securities, aiming to outperform the Bloomberg U.S. Preferred & Capital Securities Index while providing diversification benefits due to low correlation with traditional fixed income markets. PRFD offers investors exposure to attractive yields, favorable tax treatment potential, and opportunities in undervalued securities within the preferred and capital securities markets, with portfolio management led by experienced PIMCO professionals including Amit Arora, Philippe Bodereau, Tanuj Dora, and Matthieu Loriferne. Launched on January 18, 2023, and listed on NYSE Arca, the fund is issued by PIMCO ETF Trust, part of PIMCO, a premier global fixed income investment manager founded in 1971 and headquartered at 840 Newport Center Drive in Newport Beach, California. As of recent data, PRFD manages approximately $206 million in assets with an expense ratio of 0.74% and a trailing twelve-month dividend yield of 5.77%. In recent developments within PIMCO's broader operations, the firm completed mergers of six municipal income closed-end funds on August 1, 2025, reorganizing assets from acquired funds such as PIMCO Municipal Income Fund II (NYSE: PML) into acquiring funds like PIMCO Municipal Income Fund (NYSE: PMF), reflecting ongoing strategic portfolio optimizations; additionally, PIMCO announced proposed reorganizations for other closed-end funds in April 2025 and launched two new active fixed income UCITS ETFs in December 2025, expanding its ETF suite amid a focus on fixed income innovation.