Listaway tutorial5/9/2023 New Funds have limited operating histories for investors to evaluate and new and smaller Funds may not attract sufficient assets to achieve investment and trading efficiencies. Investments may be worth more or less than the original cost when redeemed.Ī new or smaller Fund’s performance may not represent how the Fund is expected to or may perform in the long-term. Investment return, price, yield and Net Asset Value (NAV) will fluctuate with changes in market conditions. An investment in an ETF involves risk, including the loss of principal. Holdings are subject to change at any time. Investment policies, management fees and other information can be found in the individual ETF’s prospectus.Ĭurrent holdings are subject to risk. Brokerage commissions will reduce returns. Shares of an ETF, traded on the secondary market, are bought and sold at market price (not NAV). Purchases and redemptions directly with ETFs are only accomplished through creation unit aggregations or “baskets” of shares. Individual shares cannot be directly purchased from or redeemed by the ETF. The exemptions allow, among other things, for individual shares to trade on the secondary market. Premium/Discount is the difference between the market price and NAV expressed as a percentage of NAV.Įxchange Traded Funds (“ETF”) are afforded certain exemptions from the Investment Company Act. These ETFs invest in securities and instruments included in, or representative of, its Underlying Index regardless of the investment merits of the Underlying Index The smart beta and Indexed ETFs use an indexing approach and may be affected by a general decline in market segments or asset classes relating to its Underlying Index. Investment in Fund shares may not be advisable for investors who expect to engage in frequent trading. Due to the costs inherent in buying or selling Fund shares, frequent trading may detract significantly from investment returns. In addition, an investor may incur costs attributed to the difference between the highest price a buyer is willing to pay to purchase shares of the Fund (bid) and the lowest price a seller is willing to accept for shares of the Fund (ask) when buying or selling shares in the secondary market (the bid-ask spread). However, there can be no guarantee that an active trading market for PIMCO ETF shares will develop or be maintained, or that their listing will continue or remain unchanged.īuying or selling ETF shares on an exchange may require the payment of fees, such as brokerage commissions, and other fees to financial intermediaries. Please read the prospectus carefully before you invest.ĮTF shares may be bought or sold throughout the day at their market price on the exchange on which they are listed. This and other information are contained in the fund's prospectus, which may be obtained by contacting your PIMCO representative or by clicking HERE. Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing.
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