LDCE

Euro Low Duration Corporate Bond UCITS ETF
Investment Grade
category / asset class
0,60%
est. yield to maturity
As of 21/10/2020
€104,34
DAILY NAV
As of 21/10/2020
0,35%
ytd return
As of 21/10/2020

why invest in this fund

Enhanced Yield Potential

Short-dated corporate bonds offer a yield that is multiples higher than short-dated government bonds but with similar drawdown risk.

tab 1 graph

Portfolio Information

2,66 Years
Effective Maturity
As of 21/10/2020
2,63 Years
Effective Duration
As of 21/10/2020
0,60%
est. yield to maturity
As of 21/10/2020
A-
average quality
As of 21/10/2020

Fund Facts

fund info image

FUND DESCRIPTION

The PIMCO Euro Low Duration Corporate Bond UCITS ETF aims to generate maximum total return, consistent with prudent investment management. The Fund will invest primarily in an actively managed diversified portfolio of Euro denominated investment grade corporate Fixed Income Instruments. Portfolio duration may vary between 0-4 years and the fund may invest up to 10% of assets in below-investment-grade securities.

DAILY NAV PRICE
€104,34
As of 21/10/2020

Price

Trading Information


Trading Currency
EUR


Exchange ticker
LDCE

Settlement Period
T+2

Bloomberg ticker
LDCE GY

Trading Information


Trading Currency
EUR


Exchange ticker
LDCE

Settlement Period
T+2

Bloomberg ticker
LDCE SW

Trading Information


Trading Currency
EUR


Exchange ticker
LDCE

Settlement Period
T+2

Bloomberg ticker
LDCE IM

BENCHMARK INFORMATION

ICE BofAML Euro Corporate Bond 1-5 Year Index

The Index offers exposure to euro denominated investment grade corporate bonds from industrial, utility and financial issuers with a remaining term to final maturity less than 5 years.

BENCHMARK INFORMATION
Data point name Data point value
Bloomberg Ticker EROV

The fund is considered to be actively managed in reference to the ICE BofAML Euro Corporate Bond 1-5 Year Index (the "Index") by virtue of the fact that the Index is used for calculating the global exposure of the fund using the relative VaR methodology and for performance comparison purposes. Certain of the fund’s securities may be components of and may have similar weightings to the Index. However, the Index is not used to define the portfolio composition of the fund or as a performance target and the fund may be wholly invested in securities which are not constituents of the Index.

BENCHMARK INFORMATION
Data point name Data point value

Security Information

As of 21/10/2020

General

ISIN IE00BP9F2J32
AUM €309.457.881,58
Benchmark BBG Ticker EROV
Number of Holdings 280
Base Currency EUR
Launch Date 17 November 2014
Shares Outstanding 2.965.966
UK Reporting Status Yes
Registered for Distribution in Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Spain, Sweden, Switzerland, United Kingdom
Exchanges Deutsche Börse Xetra, SIX Swiss Exchange, Borsa Italiana
UCITS Yes
Dividend Treatment Quarterly

Structure

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 ETF Ireland
Manager PIMCO Europe Ltd
Fund Administrator State Street Fund Services (Ireland) Limited
Depository State Street Custodial Services (Ireland) Limited
Authorized Participants Bank of America Merrill Lynch, Bluefin, Commerzbank, Credit Suisse, Flow Traders, Goldenberg Hehmeyer, Goldman Sachs, JP Morgan, Jane Street, Morgan Stanley, Nomura International PLC, Unicredit, Virtu Financial

Top Ten Exposure

As of 21/10/2020

Top Ten Exposure table

Name Coupon Weight (%)
FIN FUT EURO-BOBL 5Y EUX 12/08/20 6,00 13,34
FIN FUT EURO-SCHATZ 2YR EUX 12/08/20 6,00 2,98
FRANCE GOVT OATE I/L 0,25 2,60
REPO -0,55 1,85
VOLKSWAGEN BANK GMBH SR UNSEC REGS 1,88 1,71
U S TREASURY NOTE 1,88 1,55
BEVCO LUX SARL 1,75 1,53
BACARDI LTD 2,75 1,39
G4S INTL FINANCE PLC SR UNSEC 1,50 1,27
NATWEST GROUP PLC SR UNSEC 2,00 1,12

Fund Managers

fund manager Andreas Berndt
Andreas Berndt
Portfolio Manager, Euro Investment Grade Credit
As of 21/10/2020

Fees and Expenses

Name Value
Management Fee 0,49%

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.

Yields

0,60%
est. yield to maturity
As of 21/10/2020
1,63%
Current Yield
As of 21/10/2020
0,51%
distribution yield
As of 30/09/2020

Recent Distributions

As of 21/10/2020
Ex-Date
17/09/2020
Record Date
10/09/2020
Distribution Per Shares
0,1331
Currency
EUR

Dividends

As of 21/10/2020
Distribution Date Dist. NAV (€) Dividend Income (€) Dist. Total (€)
17/09/2020 103,96 0,133051 0,133051
18/06/2020 102,58 0,123055 0,123055
19/03/2020 99,07 0,166544 0,166544
19/12/2019 104,47 0,163002 0,163002
19/09/2019 104,41 0,168259 0,168259
13/06/2019 104,06 0,157956 0,157956
14/03/2019 103,34 0,165919 0,165919
20/12/2018 102,14 0,186133 0,186133
13/09/2018 103,20 0,165663 0,165663
14/06/2018 103,27 0,173915 0,173915
15/03/2018 103,50 0,138498 0,138498
14/12/2017 104,07 0,167440 0,167440
14/09/2017 103,83 0,185074 0,185074
15/06/2017 103,61 0,173201 0,173201
16/03/2017 103,23 0,208576 0,208576
15/12/2016 103,02 0,227691 0,227691
15/09/2016 103,21 0,262569 0,262569
16/06/2016 102,07 0,264521 0,264521
17/03/2016 101,30 0,223339 0,223339
17/12/2015 100,79 0,216948 0,216948
17/09/2015 100,16 0,226911 0,226911
18/06/2015 100,32 0,241326 0,241326
19/03/2015 101,73 0,250611 0,250611
18/12/2014 100,12 0,044609 0,044609

Discrete Performance

As of 30/09/2020
ANNUALIZED RETURNS
Annual Returns
Sep `15 - Sep `16 Sep `16 - Sep `17 Sep `17 - Sep `18 Sep `18 - Sep `19 Sep `19 - Sep `20
Euro Low Duration Corporate Bond UCITS ETF 4,48 1,29 0,00 1,99 -0,17
ICE BofAML Euro Corporate Bond 1-5 Year Index 3,38 1,03 0,10 2,42 -0,04
Performance - Fund vs Index 1,10 0,26 -0,10 -0,43 -0,13
As of 30/09/2020
Portfolio Composition - Sector Allocation: Market Value
category / asset class FUND Fund ratio ICE BofAML Euro Corporate Bond 1-5 Year Index Index ratio
Government Related 18,06 0,00
Securitized 2,72 0,00
Invest. Grade Credit 78,37 92,00
High Yield Credit 4,57 0,00
Emerging Markets 2,10 2,00
Municipal/Other 0,00 0,00
Net Other Short Duration Instruments -5,83 0,00
Portfolio Composition - Sector Allocation: Duration
Sector Fund Fund ratio ICE BofAML Euro Corporate Bond 1-5 Year Index Index ratio
Government Related 16,31 0,00
Securitized 1,67 0,00
Invest. Grade Credit 76,80 98,00
High Yield Credit 2,58 0,00
Emerging Markets 1,94 2,00
Municipal/Other 0,00 0,00
Net Other Short Duration Instruments 0,70 0,00
As of 30/09/2020
Portfolio Composition - Maturity Distribution
Years % of Fund % of ICE BofAML Euro Corporate Bond 1-5 Year Index
0-1 7,00 0,00
1-3 47,00 46,00
3-5 42,00 48,00
5-10 3,00 0,00
10-20 0,00 0,00
20+ 0,00 0,00
Effective Maturity (yrs) 2,95 -
As of 21/10/2020
Portfolio Composition - Credit Rating: S&P
Quality MV (%) Fund percent
A1/P1 0,70
Below A1/P1 0,00
AAA 18,52
AA 4,86
A 27,61
BAA 43,15
BB 5,17
B 0,00
Below B 0,00

interest rate exposures

As of 30/09/2020
exposure FUND index
Effective Duration 2,83 2,92
Bull Market Duration 2,92 2,93
Bear Market Duration 2,80 2,91
Total Curve Duration 0,06 N/A

sector exposures

As of 30/09/2020
exposure FUND index
Mortgage Spread Duration 0,06 0,00
Corporate Spread Duration 2,50 2,98
Emerging Markets Spread Duration 0,09 0,08

country exposure breakdown

DISCLOSURES

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 results and no guarantee is being made that similar returns will be achieved in the future.  


The information on this Website is not intended as investment advice or as a recommendation to invest in any particular asset class, security or strategy. The information provided is for illustrative purposes only, and it should not be relied upon as investment advice or as a recommendation to buy or sell securities. Investors should seek independent professional advice prior to investing. Any investment in an ETF should be made on the basis of the relevant Prospectus and Key Investor Information Documents, including consideration of the investment objective, risks, charges and expenses. Further information on the ETFs, their Prospectus, Key Investor Information Documents and Supplements are available at Fund Info or from your financial adviser or broker.  For actively managed ETFs, further information on the use of benchmarks or indices is set out in the Prospectus and relevant Supplement.

 

The distribution and the offering of ETFs in certain jurisdictions may be restricted by law. The information on this website does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to make such an offer or solicitation. The information on this website is not for distribution to, or for the attention of, US or Canadian persons.

 

UCITS ETF’s units / shares purchased on the secondary market cannot usually be sold directly back to UCITS ETF. Investors must buy and sell units / shares on a secondary market with the assistance of an intermediary (e.g. a stockbroker) and may incur fees for doing so. In addition, investors may pay more than the current net asset value when buying units / shares and may receive less than the current net asset value when selling them.

 

The information provided on this website does not constitute an offer of UCITS ETF in Switzerland pursuant to the Swiss Financial Services Act ("FinSA") and its implementing ordinance ("FinSO"), but the information on this website may be construed as an advertisement pursuant to the FinSA. The representative and paying agent for the sub-funds of PIMCO ETFs plc in Switzerland is BNP Paribas Securities Services, Paris, succursale de Zurich, Selnaustrasse 16, 8002 Zurich, Switzerland. The offering documents, articles of incorporation and annual and semi-annual reports may be obtained free of charge from the representative in Switzerland. The ETFs are domiciled in Ireland.

 

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


The information contained on this Website referred to the UCITS ETF Fund (the Sub-fund) of PIMCO Europe Ltd, a collective investment scheme duly registered with the Spanish Securities Market Commission (CNMV) under number 1360 (www.cnmv.es), where it may be consulted the updated list of the authorised distributors of the Company in Spain (the Spanish Distributors). The Spanish Distributors must provide to each investor, prior to subscribing the shares of the Sub-fund, a copy translated into Spanish of the simplified prospectus or KIID, when implemented, and the latest published economic report prior to subscribing shares. In addition, a copy of the report on the planned types of marketing in Spain must be provided using the form published on the CNMV website. The prospectus and the KIID (if applicable) and other legally required documents relating to the fund are available through the Spanish Distributors, in hard copy or by electronic means, and also available upon request by dialling +44 20 3640 1558, writing to iberia@pimco.com or consulting Fund Info where you may also obtain updated information on the net asset value of the relevant shares.


PIMCO Europe Ltd (Company No. 2604517) and PIMCO Europe Ltd - Italy (Company No. 07533910969) are authorised and regulated by the Financial Conduct Authority (12 Endeavour Square, London E20 1JN) in the UK. The Italy branch is additionally regulated by the Commissione Nazionale per le Società e la Borsa (CONSOB) in accordance with Article 27 of the Italian Consolidated Financial Act. PIMCO Europe Ltd. services are available only to professional clients as defined in the Financial Conduct Authoritie´s Handbook and are not available to individual investors, who should not rely on this communication. | PIMCO Europe GmbH (Company No. 192083, Seidlstr. 24-24a, 80335 Munich, Germany), PIMCO Europe GmbH Italian Branch (Company No. 10005170963), and PIMCO Europe GmbH Spanish Branch (N.I.F. W2765338E) are authorised and regulated by the German Federal Financial Supervisory Authority (BaFin) (Marie- Curie-Str. 24-28, 60439 Frankfurt am Main) in Germany in accordance with Section 32 of the German Banking Act (KWG). The Italian Branch, and Spanish Branch are additionally supervised by the Commissione Nazionale per le Società e la Borsa (CONSOB) in accordance with Article 27 of the Italian Consolidated Financial Act, and the Comisión Nacional del Mercado de Valores (CNMV) in accordance with obligations stipulated in articles 168 and  203  to 224, as well as obligations contained in Tile V, Section I of the Law on the Securities Market (LSM) and in articles 111, 114 and 117 of Royal Decree 217/2008, respectively. The services provided by PIMCO Europe GmbH are available only to professional clients as defined in Section 67 para. 2 German Securities Trading Act (WpHG). They are not available to individual investors, who should not rely on this communication. PIMCO (Schweiz) GmbH (registered in Switzerland, Company No. CH020.4.038.582-2), Brandschenkestrasse 41, 8002 Zurich, Switzerland, Tel: + 41 44 512 49 10. The services provided by PIMCO (Schweiz) GmbH are not available to retail investors, who should not rely on this communication but contact their financial adviser. PIMCO provides services to qualified institutions and investors who fall within the category of professional client as defined in the FCA’s Handbook. PIMCO ETFs PLC is an umbrella type open ended investment company with variable capital and with segregated liability between Funds incorporated with limited liability under the laws of Ireland with registered number 489440. PIMCO is a trademark of Allianz Asset Management of America L.P. in the United States and throughout the world. Copyright 2020, PIMCO.