CMDT Fees and Costs — PIMCO Commodity Strategy Active Exchange-Traded Fund
Data updated: 2026-09-14
The net expense ratio is 0.65% (0.98% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $661K in broker commissions, 0.1038% of average net assets, and portfolio turnover was 49%.
CMDT Fees and Expenses
Annual operating expenses and sales charges of CMDT. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.79% |
| 12b-1 fee | — |
| Other expenses | 0.01% |
| Gross expense ratio | 0.98% |
| Fee waiver | −0.33% |
| Net expense ratio | 0.65% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
CMDT Costs Over Time
On $10,000 invested in CMDT, assuming 5% a year before costs, total costs come to $474 over 5 years, cutting the return by 0.79% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.65%) | $68 | $213 | $371 |
| Trading costs (broker commissions) | $11 | $34 | $59 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $79 | $260 | $474 |
| Value after costs | $10,421 | $11,316 | $12,289 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
CMDT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1038%
- Total broker commissions: $661K
- Bought from dealers (principal trades, not a cost): $15.6B
- Portfolio turnover (prospectus): 49%
- Securities lending: none during the year
CMDT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $598K | 90.52% |
| Barclays Capital Inc. | $49K | 7.44% |
| J.P. Morgan Securities LLC | $5K | 0.76% |
| State Street Bank and Trust Company | $4K | 0.66% |
| BofA Securities, Inc. | $4K | 0.61% |
CMDT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $6.3B | 41.76% |
| BNP Paribas Securities Corp. | $5.8B | 38.42% |
| Goldman Sachs & Co. LLC | $854.0M | 5.70% |
| BNY Capital Markets, LLC | $792.0M | 5.29% |
| State Street Bank and Trust Company | $389.1M | 2.60% |
| J.P. Morgan Securities LLC | $337.8M | 2.26% |
| Wells Fargo Securities, LLC | $184.5M | 1.23% |
| Citigroup Global Markets Inc. | $148.9M | 0.99% |
| Pacific Investment Management Company LLC | $140.6M | 0.94% |
| RBC Capital Markets, LLC | $120.6M | 0.81% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.