PMZDX — PIMCO Mortgage Opportunities and Bond Fund
Data updated: 2026-08-31
PMZDX — PIMCO Mortgage Opportunities and Bond Fund. Long Securitized (MBS/ABS/CMBS) Bond · $13.61B AUM. Holdings, fees, performance and SEC filings.
PMZDX Fund Overview
PMZDX — PIMCO Mortgage Opportunities and Bond Fund is a US mutual fund managed by PIMCO Funds, categorised as Long Securitized (MBS/ABS/CMBS) Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: PIMCO Funds
- Category: Long Securitized (MBS/ABS/CMBS) Bond
- Assets under management: $13.61B
- Ticker: PMZDX
- SEC CIK: 0000810893
- SEC series ID: S000038441
- Share class ID: C000118564
PMZDX Investment Objective and Strategy
PIMCO Mortgage Opportunities and Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by PIMCO Funds.
Investment objective
The Fund seeks maximum long-term return, consistent with prudent investment management.
Principal investment strategy
"The Fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets in a portfolio of mortgage-related assets, including, but not limited to Agency residential and commercial mortgage-backed securities (""MBS"") and private label residential and commercial MBS, and of Fixed Income Instruments, which may be represented by forwards or derivatives such as options, futures contracts or swap agreements. Agency MBS refers to MBS issued by government-sponsored enterprises, such as the Government National Mortgage Association (""GNMA"" or ""Ginnie Mae""), the Federal National Mortgage Association (""FNMA"" or ""Fannie Mae"") or the Federal Home Loan Mortgage Corporation (""FHLMC"" or ""Freddie Mac""). ""Fixed Income Instruments"" include bonds, debt securities and other similar instruments issued by various U.S.
and non-U.S. public- or private-sector entities. The Fund will invest in a broad array of mortgage-related securities in seeking to generate consistent, absolute returns across full market cycles. The average portfolio duration of this Fund normally varies from (negative) 1 year to positive 8 years based on PIMCO's market forecasts. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates. The longer a security's duration, the more sensitive it will be to changes in interest rates. The Fund may invest up to 50% of its total assets in high yield securities (""junk bonds""), as rated by Moody's Investors Service, Inc. (""Moody's""), Standard & Poor's Rating Services (""S&P"") or Fitch, Inc. (""Fitch""), or, if unrated, as determined by PIMCO (except such limitation shall not apply to the Fund's investments in mortgage-related securities).
The Fund may invest, without limitation, in derivative instruments, such as options, futures contracts, options on futures, fixed income swap agreements, credit default swap agreements and other synthetic mortgage-related swap indices, or in mortgage- or asset-backed securities, subject to applicable law and any other restrictions described in the Fund's prospectus or Statement of Additional Information. The Fund may invest up to 10% of its total assets in any combination of mortgage-related or other asset-backed interest-only (""IO""), principal-only (""PO""), or inverse floating rate debt (""inverse floater"") securities. The Fund may invest up to 10% of its total assets in mortgage- or real estate-related equity instruments, including preferred securities, common stock, convertible securities and other equity-related instruments.
The Fund may purchase or sell securities on a when-issued, delayed delivery or forward commitment basis and may engage in short sales. The Fund may, without limitation, seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as buy backs or dollar rolls). The ""total return"" sought by the Fund consists of income earned on the Fund's investments, plus capital appreciation, if any, which generally arises from decreases in interest rates or improving credit fundamentals for a particular sector or security."
PMZDX Holdings
Top 10 holdings of PIMCO Mortgage Opportunities and Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Umbs, Tba | 23.28% |
| Umbs, Tba | 10.37% |
| Government National Mortgage Association | 3.29% |
| Government National Mortgage Association | 2.87% |
| Umbs, Tba | 2.81% |
| Government National Mortgage Association | 2.46% |
| Government National Mortgage Association | 2.45% |
| Government National Mortgage Association | 2.28% |
| Umbs, Tba | 1.96% |
| Government National Mortgage Association | 1.65% |
PMZDX Portfolio Allocation
Asset-class allocation of PIMCO Mortgage Opportunities and Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Securitized | 193.4% |
| Real Estate | 3.1% |
| Cash & Equivalents | 1.5% |
| Fixed Income | 1.3% |
| Loans | 0.1% |
PMZDX Performance
Total returns for PMZDX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.2% |
| 1 year | 5.0% |
| 3 years (annualised) | 6.4% |
| 5 years (annualised) | 3.1% |
PMZDX Risk Information
Risk metrics for PMZDX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.4%
PMZDX Costs and Fees
PMZDX costs about $118 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.18%
- Gross expense ratio: 1.18%
- Portfolio turnover: 1239%
- Brokerage commissions: 0.15 bps of average net assets (SEC N-CEN)
PMZDX Cashflows
Over the 12 months to 2026-06, PIMCO Mortgage Opportunities and Bond Fund had net inflows of $1.64B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $56.90M |
| 2026-05 | $68.16M |
| 2026-04 | −$92.47M |
| 2026-03 | $66.24M |
| 2026-02 | $297.98M |
| 2026-01 | $519.36M |
PMZDX Debt Constituents
Largest debt holdings of PIMCO Mortgage Opportunities and Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Beignet Investor LLC | 0.86% |
| United States Treasury | 0.16% |
| Sba Tower Trust | 0.13% |
| United States Treasury | 0.08% |
| United States Treasury | 0.05% |
| City of Detroit MI | 0.03% |
| Preferred Term Secs Xvi | 0.02% |
| Preferred Term Secs Xxvi | 0.01% |
| Preferred Term Secs Xxi | 0.01% |
| Slm Student Loan Tr 04-2 | 0.00% |
PMZDX Prospectus and SEC Filings
Official PIMCO Mortgage Opportunities and Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-07-25
- Prospectus supplement (497) — filed 2024-08-01
- Prospectus supplement (497) — filed 2024-01-08
- Portfolio holdings (N-PORT) — filed 2026-08-31
- Portfolio holdings (N-PORT) — filed 2026-05-29
- Portfolio holdings (N-PORT) — filed 2026-03-02
- Annual census (N-CEN) — filed 2026-06-11
- Annual census (N-CEN) — filed 2025-06-13
Related Funds
Other Long Securitized (MBS/ABS/CMBS) Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.