Emerging Markets Advantage Local Bond Index UCITS ETF


Emerging Markets
category / asset class
est. yield to maturity
As of 01/03/2024
As of 01/03/2024
ytd return
As of 29/02/2024


why invest in this fund

Attractive return potential and diversification benefits

Emerging local debt offers attractive yield levels which could enhance the return potential of investor portfolios. The asset class is a good diversifier for globally orientated investors.

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Fund Specific Risks

Credit and Default Risk

A decline in the financial health of an issuer of a fixed income security can lead to an inability or unwillingness to repay a loan or meet a contractual obligation. This could cause the value of its bonds to fall or become worthless. Funds with high exposures to non-investment grade securities have a higher exposure to this risk.

Currency Risk

Changes in exchange rates may cause the value of investments to decrease or increase.

Derivatives and Counterparty Risk

The use of certain derivatives could result in the fund having a greater or more volatile exposure to the underlying assets and an increased exposure to counterparty risk. This may expose the fund to larger gains or losses associated with market movements or in relation to a trade counterparty being unable to meet its obligations.

Emerging Markets Risk

Emerging markets, and especially frontier markets, generally carry greater political, legal, counterparty and operational risk. Investments in these markets may expose the fund to larger gains or losses.

Fixed Income Risk

There is a risk that the institution which issued the securities will fail, which would result in a loss of income to the fund. Fixed income values are likely to fall if interest rates rise.

Liquidity Risk

Difficult market conditions could result in certain securities becoming hard to sell at a desired time and price.

Interest Rate Risk

Changes in interest rates will usually result in the values of bond and other debt instruments moving in the opposite direction (e.g. a rise in interest rates likely leads to fall in bond prices).

China InterBank Bond Market ("CIBM")

The fund may be exposed to liquidity risks, settlement risks, default of counterparties and market volatility associated with CIBM. In addition, the CIBM rules are new and still subject to further clarification and/or changes, which may adversely affect the fund's capability to invest in the CIBM.

Index Tracking Risk

Fund performance can potentially deviate from the reference index due to market conditions, transaction costs and different replication techniques such as optimization & sampling.

Portfolio Information

8,21 Years
Effective Maturity
As of 29/02/2024
5,34 Years
Effective Duration
As of 29/02/2024
est. yield to maturity
As of 01/03/2024
average quality
As of 01/03/2024

Fund Facts

fund info image


The PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF aims to provide a return that closely corresponds, before fees and expenses, to the total return of the PIMCO Emerging Markets Advantage Local Currency Bond Index.

As of 01/03/2024

Price - Past performance does not predict future returns

Trading Information

Trading Currency

Exchange Ticker

Settlement Period

Bloomberg ticker

Trading Information

Trading Currency

Exchange Ticker

Settlement Period

Bloomberg ticker

Trading Information

Trading Currency

Exchange Ticker

Settlement Period

Bloomberg ticker


PIMCO Emerging Markets Advantage Local Currency Bond Index

The PIMCO Emerging Markets Advantage Local Currency Bond Index tracks the performance of a GDP-weighted basket of emerging market local government bonds, currencies, or currency forwards, subject to a maximum exposure of 15% per country. Countries are selected, and their weights are determined, annually. Qualifying countries must have a minimum average sovereign rating of BB- (with such ratings provided by recognized rating agencies), represent greater than 0.3% of world GDP, designated as mid or low income based on Gross National Income per capita as published by the World Bank and have a liquid local bond or FX market. Countries whose internal or external borrowing is subject to EU or U.S. sanctions are not eligible for the Index. It is not possible to invest directly in an unmanaged index.

Data point name Data point value
Bloomberg Ticker EMAD

The fund is passively managed (i.e. tracks the PIMCO Emerging Markets Advantage Local Currency Bond Index (the "Index")). The fund is actively managed in reference to the above Benchmark as further outlined in the prospectus and key investor information document.

Data point name Data point value

Security Information

As of 29/02/2024


AUM $144.844.451,57
Benchmark BBG Ticker EMAD
Number of Holdings 162
Base Currency USD
Launch Date 23 January 2014
Shares Outstanding 1.067.945
UK Reporting Status Yes
Registered for Distribution in Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Spain, Sweden, Switzerland, United Kingdom
Exchanges London Stock Exchange, SIX Swiss Exchange, Borsa Italiana
Dividend Treatment Monthly


Legal Form UCITS
Replication Method Physical
Domicile Ireland
Financial Year End 31 March
Equity Ratio (Tax Information for German Investors) 0,00
Use of Income Distributed

Key Service Providers

Issuer PIMCO ETFs plc
Manager PIMCO Europe Ltd
Fund Administrator State Street Fund Services (Ireland) Limited
Depository State Street Custodial Services (Ireland) Limited
Authorized Participants Banca Sella Holding S.p.A., Bluefin Europe LLP, Citigroup Global Market Limited, Credit Suisse Securities (Europe) Limited, DRW Europe B.V., Flow Traders B.V., Goldenberg Hehmeyer LLP, Goldman Sachs International, JP Morgan Securities Ltd., Jane Street Financial Limited, Morgan Stanley and Co. International plc, Nomura International plc, Old Mission Europe LLP, Société Générale , Unicredit Bank AG, Virtu Financial Ireland Limited

Top Ten Exposure

As of 29/02/2024

Top Ten Exposure table

Name Coupon Weight (%)
BRAZIL NTN-F 10,00 4,93
BRAZIL NTN-F 10,00 4,63

Fund Managers

fund manager Michael Davidson
Michael Davidson
Portfolio Manager, Emerging Markets
fund manager Pramol Dhawan
Pramol Dhawan
Portfolio Manager
As of 29/02/2024

Fees and Expenses

Name Value
Management Fee 0,60%

Because the fund is an ETF, investors will typically only be able to buy or sell shares in the secondary market, on exchange. Authorized Participants who help in the creation or redemption of shares in the primary market, may face “create” or “redeem” fees (aka “entry” or “exit” fees) on the cash portion of the transaction (up to a maximum of 3.00%). These create and redeem fees are not applicable to secondary market investors. However, secondary market investors may incur brokerage and/or transaction fees in connection with their dealings. Secondary market investors may also bear the costs of bid-ask spreads; meaning the difference between the prices at which shares can be bought and sold.


est. yield to maturity
As of 01/03/2024
Current Yield
As of 01/03/2024
distribution yield
As of 31/01/2024
Past performance does not predict future returns

Recent Distributions

As of 01/03/2024
Record Date
Distribution Per Shares


As of 01/03/2024
Distribution Date Dist. NAV ($) Dividend Income ($) Dist. Total ($)
15/02/2024 65,88 0,282859 0,282859
18/01/2024 65,84 0,235254 0,235254
21/12/2023 66,44 0,268023 0,268023
16/11/2023 65,16 0,298492 0,298492
19/10/2023 62,46 0,279181 0,279181
21/09/2023 64,46 0,309556 0,309556
17/08/2023 65,18 0,300415 0,300415
20/07/2023 67,35 0,327828 0,327828
15/06/2023 66,47 0,295596 0,295596
19/05/2023 65,19 0,284827 0,284827
20/04/2023 65,18 0,405648 0,405648
16/03/2023 62,98 0,317157 0,317157
16/02/2023 63,18 0,328588 0,328588
19/01/2023 63,88 0,395373 0,395373
15/12/2022 61,61 0,151352 0,151352
17/11/2022 60,09 0,289621 0,289621
20/10/2022 57,65 0,317341 0,317341
15/09/2022 60,51 0,256384 0,256384
18/08/2022 61,71 0,288162 0,288162
21/07/2022 58,33 0,332492 0,332492
16/06/2022 58,44 0,247504 0,247504
19/05/2022 59,71 0,300301 0,300301
21/04/2022 61,87 0,087251 0,087251
17/03/2022 61,68 0,332514 0,332514
17/02/2022 69,64 0,296893 0,296893
20/01/2022 69,43 0,344346 0,344346
16/12/2021 68,91 0,277184 0,277184
18/11/2021 69,59 0,199349 0,199349
21/10/2021 70,61 0,316255 0,316255
16/09/2021 72,89 0,251151 0,251151
19/08/2021 71,92 0,315026 0,315026
15/07/2021 73,05 0,269514 0,269514
17/06/2021 73,96 0,235570 0,235570
20/05/2021 73,64 0,311542 0,311542
15/04/2021 72,38 0,255343 0,255343
18/03/2021 72,97 0,221468 0,221468
18/02/2021 75,17 0,196445 0,196445
21/01/2021 76,10 0,282910 0,282910
17/12/2020 77,16 0,236619 0,236619
19/11/2020 74,56 0,264027 0,264027
15/10/2020 71,87 0,197984 0,197984
17/09/2020 73,47 0,195109 0,195109
20/08/2020 71,94 0,237370 0,237370
16/07/2020 72,45 0,219808 0,219808
18/06/2020 71,85 0,280866 0,280866
14/05/2020 68,32 0,202097 0,202097
16/04/2020 67,50 0,171010 0,171010
19/03/2020 65,26 0,296455 0,296455
13/02/2020 77,94 0,294758 0,294758
16/01/2020 78,57 0,231787 0,231787
19/12/2019 77,86 0,310153 0,310153
15/11/2019 76,94 0,267576 0,267576
17/10/2019 77,14 0,260707 0,260707
19/09/2019 76,64 0,351772 0,351772
15/08/2019 75,74 0,335819 0,335819
18/07/2019 77,85 0,381434 0,381434
13/06/2019 75,38 0,317287 0,317287
16/05/2019 73,57 0,352542 0,352542
18/04/2019 75,18 0,375443 0,375443
14/03/2019 75,14 0,362483 0,362483
14/02/2019 74,80 0,409303 0,409303
17/01/2019 74,68 0,382995 0,382995
20/12/2018 73,19 0,385289 0,385289
15/11/2018 72,52 0,390592 0,390592
18/10/2018 72,93 0,360548 0,360548
13/09/2018 71,02 0,306034 0,306034
16/08/2018 72,94 0,329512 0,329512
19/07/2018 75,61 0,416423 0,416423
14/06/2018 77,29 0,347831 0,347831
17/05/2018 79,02 0,277534 0,277534
19/04/2018 83,68 0,383328 0,383328
15/03/2018 84,35 0,335071 0,335071
15/02/2018 85,57 0,336819 0,336819
18/01/2018 85,01 0,404778 0,404778
14/12/2017 81,95 0,320978 0,320978
16/11/2017 81,32 0,308682 0,308682
19/10/2017 83,55 0,374810 0,374810
14/09/2017 85,30 0,306755 0,306755
17/08/2017 83,91 0,426813 0,426813
20/07/2017 84,01 0,487507 0,487507
15/06/2017 82,95 0,419675 0,419675
18/05/2017 80,85 0,500976 0,500976
13/04/2017 82,34 0,392179 0,392179
16/03/2017 81,70 0,419142 0,419142
16/02/2017 80,68 0,412202 0,412202
19/01/2017 77,92 0,419383 0,419383
15/12/2016 77,66 0,357687 0,357687
17/11/2016 78,51 0,273259 0,273259
20/10/2016 84,34 0,368303 0,368303
15/09/2016 83,17 0,361675 0,361675
18/08/2016 84,96 0,413514 0,413514
14/07/2016 84,46 0,298877 0,298877
16/06/2016 81,73 0,266027 0,266027
19/05/2016 80,29 0,513849 0,513849
14/04/2016 82,64 0,533282 0,533282
17/03/2016 80,92 0,605218 0,605218
18/02/2016 75,68 0,691202 0,691202
14/01/2016 74,41 0,553252 0,553252
17/12/2015 76,47 0,598307 0,598307
19/11/2015 80,20 0,528448 0,528448
15/10/2015 80,98 0,368444 0,368444
17/09/2015 78,04 0,478732 0,478732
20/08/2015 80,16 0,465160 0,465160
16/07/2015 86,81 0,490989 0,490989
18/06/2015 87,80 0,491313 0,491313
14/05/2015 90,38 0,354879 0,354879
16/04/2015 90,45 0,297892 0,297892
19/03/2015 85,83 0,387015 0,387015
19/02/2015 89,02 0,500706 0,500706
15/01/2015 90,21 0,416193 0,416193
18/12/2014 89,31 0,374025 0,374025
20/11/2014 96,81 0,425835 0,425835
16/10/2014 99,08 0,341704 0,341704
17/09/2014 101,89 0,311149 0,311149
20/08/2014 103,96 0,322686 0,322686
16/07/2014 105,91 0,338747 0,338747
18/06/2014 104,75 0,284516 0,284516
14/05/2014 104,98 0,131842 0,131842
16/04/2014 102,51 0,198435 0,198435
19/03/2014 100,60 0,222426 0,222426
19/02/2014 99,89 0,126517 0,126517

Discrete Performance

As of 29/02/2024
Annual Returns
Feb`14 - Feb`15 Feb`15 - Feb`16 Feb`16 - Feb`17 Feb`17 - Feb`18 Feb`18 - Feb`19 Feb`19 - Feb`20 Feb`20 - Feb`21 Feb`21 - Feb`22 Feb`22 - Feb`23 Feb`23 - Feb`24
Emerging Markets Advantage Local Bond Index UCITS ETF -8,33 -8,00 12,93 11,15 -5,70 4,32 1,91 -9,08 3,96 10,93
PIMCO Emerging Markets Advantage Local Currency Bond Index -8,13 -8,34 13,78 12,08 -4,57 4,92 2,52 -4,64 -9,19 11,40
Performance - Fund vs Index -0,20 0,34 -0,85 -0,93 -1,13 -0,60 -0,61 -4,44 13,15 -0,47
As of 31/01/2024
Portfolio Composition - Sector Allocation: Market Value
category / asset class FUND Fund ratio
Government Related 2,78
Securitized 0,00
Invest. Grade Credit 0,00
High Yield Credit 0,00
Emerging Markets 77,03
Municipal/Other 0,00
Net Other Short Duration Instruments 20,19
Portfolio Composition - Sector Allocation: Duration
Sector Fund Fund ratio
Government Related 4,45
Securitized 0,00
Invest. Grade Credit 0,00
High Yield Credit 0,00
Emerging Markets 95,29
Municipal/Other 0,00
Net Other Short Duration Instruments 0,26
As of 31/01/2024
Portfolio Composition - Maturity Distribution
Years % of Fund
0-1 24,74
1-3 7,54
3-5 12,21
5-10 28,21
10-20 18,16
20+ 9,14
Effective Maturity (yrs) 8,19
As of 29/02/2024
Portfolio Composition - Credit Rating: S&P
Quality MV (%) Fund percent
A1/P1 15,43
Below A1/P1 0,00
AAA 0,00
AA -0,14
A 22,80
BAA 38,66
BB 23,25
B 0,00
Below B 0,00

interest rate exposures

As of 29/02/2024
exposure FUND
Effective Duration 5,34
Bull Market Duration 5,43
Bear Market Duration 5,25
Total Curve Duration -

sector exposures

As of 29/02/2024
exposure FUND
Mortgage Spread Duration 0,00
Corporate Spread Duration 0,00
Emerging Markets Spread Duration 5,41

country exposure breakdown

Fund Literature
Report Types Fund Literature
Fund Fact Sheet

Important information

Your capital is at risk. You may not get back the amount you invested. Past performance is not a guarantee or reliable indicator of future returns and no guarantee is being made that similar returns will be achieved in the future.  

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The Company’s Prospectus can be obtained from Fund Info and is available in English, French and German.


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The sub-funds of the Company are currently notified for marketing into a number of EU Member States under the UCITS Directive. [PIMCO Global Advisors (Ireland) Limited] can terminate such notifications for any share class and/or sub-fund of the Company at any time using the process contained in Article 93a of the UCITS Directive.


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French language copies of the Sub-Fund's Prospectus, Key Investor Information Documents, articles of incorporation, latest annual and semi-annual Report & Accounts may be obtained from Fund Info

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Unless referenced in the prospectus and relevant key investor information document, a benchmark or index in this material is not used in the active management of the Fund, in particular for performance comparison purposes.

Where referenced in the prospectus and relevant key investor information document a benchmark may be used as part of the active management of the Fund including, but not limited to, for duration measurement, as a benchmark which the Fund seeks to outperform, performance comparison purposes and/or relative VaR measurement. Any reference to an index or benchmark in this material, and which is not referenced in the prospectus and relevant key investor information document, is purely for illustrative or informational purposes (such as to provide general financial information or market context) and is not for performance comparison purposes. Please contact your PIMCO representative for further details.



As outlined under “Benchmark”, where referenced in the prospectus and relevant key investor information document, a benchmark may be used as part of the active management of the Fund. In such instances, certain of the Fund’s securities may be components of and may have similar weightings to the benchmark and the Fund may from time to time show a high degree of correlation with the performance of any such benchmark. However the benchmark is not used to define the portfolio composition of the Fund and the Fund may be wholly invested in securities which are not constituents of the benchmark.


Investors should note that a Fund may from time to time show a high degree of correlation with the performance of one or more financial indices not referenced in the prospectus and relevant key investor information document. Such correlation may be coincidental or may arise because any such financial index may be representative of the asset class, market sector or geographic location in which the Fund is invested or uses a similar investment methodology to that used in managing the Fund.

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