PTSRX - PIMCO Short-Term R

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PIMCO Short-Term R (PTSRX)
Expense Ratio: 0.95%
Expected Lifetime Fees: $28,436.39

The PIMCO Short-Term R fund (PTSRX) is a Ultrashort Bond fund started on 12/31/2002 and has $10.90 billion in assets under management. The current manager has been running PIMCO Short-Term R since 01/24/2011. The fund is rated by Morningstar. In addition to trading fees and broker commissions, this fund has 12b-1 fees of 0.50%

MarketRiders Prefers The Following ETF

SPDR Barclays Capital 1-3 Month T-Bill (BIL)
Expense Ratio: 0.15%
Expected Lifetime Fees: $4,881.99

The SPDR Barclays Capital 1-3 Month T-Bill (BIL) is an Exchange Traded Fund. It is a "basket" of securities that index the Ultrashort Bond investment strategy and is an alternative to a Ultrashort Bond mutual fund. Fees are very low compared to a comparable mutual fund like PIMCO Short-Term R because computers automatically manage the stocks.

The Following Ultrashort Bond Funds Have Lower Fees Than PIMCO Short-Term R (PTSRX). Why are these metrics important?
Mutual Fund Name Ticker Symbol Turnover Assets (M) Annual Fees
Calvert Ultra-Short Income A CULAX 208.0% 411 0.89%
Calvert Ultra-Short Income Fund Class Y CULYX 208.0% 411 0.67%
DFA One-Year Fixed-Income I DFIHX 78.0% 7,500 0.17%
DWS Ultra Short Duration Instl MGSFX 120.0% 161 0.78%
DWS Ultra Short Duration Svc SDUSX 120.0% 161 0.81%
Federated Gov Ultrashort Duration A FGUAX 26.0% 843 0.70%
Federated Gov Ultrashort Duration Instl FGUSX 26.0% 843 0.25%
Federated Gov Ultrashort Duration InSvc FEUSX 26.0% 843 0.35%
Federated Ultrashort Bond A FULCZ 38.0% 1,500 0.93%
Federated Ultrashort Bond Instl FULIX 38.0% 1,500 0.38%
Federated Ultrashort Bond Svc FULBX 38.0% 1,500 0.83%
Fidelity Advisor Ultra Short Bond I FUBIX 103.0% 319 0.49%
Fidelity Advisor Ultra Short Bond T FTUSX 103.0% 319 0.68%
Fidelity Ultra-Short Bond FUSFX 103.0% 319 0.45%
Goldman Sachs Enhanced Income A GEIAX 86.0% 506 0.63%
Goldman Sachs Enhanced Income Instl GEIIX 86.0% 506 0.29%
Goldman Sachs Ultra-Short Dur Gov A GSAMX 178.0% 280 0.74%
Goldman Sachs Ultra-Short Dur Gov I GSARX 178.0% 280 0.40%
Goldman Sachs Ultra-Short Dur Gov Svc GSASX 178.0% 280 0.90%
Legg Mason WA Adj Rate Income A ARMCZ 43.0% 223 0.90%
Legg Mason WA Adj Rate Income A ARMZX 43.0% 223 0.90%
Managers Short Duration Government MGSDX 141.0% 396 0.82%
Metropolitan West Ultra Short Bond I MWUIX 29.0% 112 0.36%
Metropolitan West Ultra Short Bond M MWUSX 29.0% 112 0.52%
Nationwide Enhanced Income A NME1Z 69.9% 272 0.71%
Northern Ultra-Short Fixed Income Fund NUSFX 46.0% 468 0.25%
Payden Limited Maturity PYLMX 75.0% 223 0.50%
PIA Short Term Securities Adv PIASX 11.0% 169 0.35%
PIMCO Short-Term Admin PSFAX 307.0% 10,900 0.70%
PIMCO Short-Term D PSHDX 307.0% 10,900 0.70%
PIMCO Short-Term Instl PTSHX 307.0% 10,900 0.45%
PIMCO Short-Term P PTSPX 307.0% 10,900 0.55%
Pioneer Multi-Asset Floating Rate Fund Class A MAFRX 51.0% 237 0.85%
Pioneer Multi-Asset Floating Rate Fund Class Y MYFRX 51.0% 237 0.65%
RidgeWorth Ultra-Short Bond I SISSX 97.0% 105 0.32%
RidgeWorth US Gov Sec Ultra-Short Bd I SIGVX 70.0% 2,100 0.33%
Touchstone Ultra Short Dur F/I Z TSDOX 144.0% 453 0.71%
Wells Fargo Advantage Adj Rate Govt A ESAAX 18.0% 1,400 0.74%
Wells Fargo Advantage Adj Rate Govt I EKIZX 18.0% 1,400 0.49%
Wells Fargo Advantage Ultra S/T Inc Adm WUSDX 60.0% 1,200 0.56%
Wells Fargo Advantage Ultra S/T Inc I SADIX 60.0% 1,200 0.36%
Wells Fargo Advantage Ultra S/T Inc Inv STADX 60.0% 1,200 0.74%
William Blair Low Duration I WBLIX 43.0% 180 0.55%
William Blair Low Duration Inst WBLJX 43.0% 180 0.40%
William Blair Low Duration N WBLNX 43.0% 180 0.70%

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Why Are These Metrics Important?

Turnover represents how much of a mutual fund's holdings are changed over the course of a year through buying and selling. Active mutual funds have an average turnover rate of about 85%, meaning that funds are turning over nearly all of their holdings every year. A high turnover means you could make lower returns because: 1) buying and selling stocks costs money through commissions and spreads and 2) the fund will distribute yearly capital gains which increases your taxes. Look for funds with turnover rates below 50%. For comparison, ETF turnover rates average around 10% or lower.

Generally, smaller funds do better than larger ones. The more assets in a mutual fund, the lower the chance that it will beat its index. Managers outperform an index by choosing stocks that are undervalued. In order to find these undervalued stocks, the manager has to know more than his competitors to develop an "edge." There are only a finite number of stocks a mutual fund manager can reasonably analyze and actively track to gain such a competitive edge. When the fund has more assets, the manager must analyze large companies because he needs to take larger positions. Large companies are more efficiently priced in the market and it becomes increasingly difficult to get an edge.