PMLAX Fees and Costs — PIMCO Municipal Bond Fund, Class A
Data updated: 2026-09-11
The net expense ratio is 0.75%: a 0.50% management fee plus a 0.25% 12b-1 fee. This share class carries a maximum front-end sales load of 2.25% and a deferred sales charge of up to 1.00%. In fiscal 2026 the fund paid $13K in broker commissions, 0.0003% of average net assets, and portfolio turnover was 25%.
PMLAX Fees and Expenses
Annual operating expenses and sales charges of PMLAX. Prospectus, as of March 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.25% |
| Other expenses | — |
| Gross expense ratio | 0.75% |
| Fee waiver | — |
| Net expense ratio | 0.75% |
| Sales charges | |
|---|---|
| Max front load | 2.25% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PMLAX Costs Over Time
On $10,000 invested in PMLAX, assuming 5% a year before costs, total costs come to $748 over 5 years, cutting the return by 1.26% 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 |
| Sales charges | $327 | $225 | $225 |
| Fund expenses (net expense ratio 0.75%) | $77 | $241 | $419 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $11 | $47 | $104 |
| Total costs | $415 | $513 | $748 |
| Value after costs | $10,085 | $11,063 | $12,015 |
| Impact on return, per year | 4.15% | 1.58% | 1.26% |
PMLAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0003%
- Total broker commissions: $13K
- Bought from dealers (principal trades, not a cost): $9.6B
- Portfolio turnover (prospectus): 25%
- Securities lending: none during the year
PMLAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $12K | 90.20% |
| BGC Financial, L.P. | $1K | 9.80% |
PMLAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Pacific Investment Management Company LLC | $4.6B | 51.75% |
| State Street Bank and Trust Company | $1.2B | 13.28% |
| J.P. Morgan Securities LLC | $609.7M | 6.84% |
| BofA Securities, Inc. | $519.8M | 5.83% |
| Jefferies LLC | $510.8M | 5.73% |
| Morgan Stanley & Co. LLC | $469.6M | 5.27% |
| BNY Capital Markets, LLC | $280.8M | 3.15% |
| Wells Fargo Securities, LLC | $280.5M | 3.15% |
| Barclays Capital Inc. | $243.7M | 2.73% |
| RBC Capital Markets, LLC | $202.2M | 2.27% |
PIMCO Municipal Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PFMIX | Institutional Class | 0.44% | none |
| PMUPX | Class I-2 | 0.54% | none |
| PMUNX | Class I-3 | 0.59% | none |
| PMLAX | Class A | 0.75% | 2.25% |
| PMLCX | Class C | 1.25% | none |
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.