SMMU - SMMU Vs. MUNI: Comparing PIMCO Active Municipal ETFs

Summary

• The PIMCO Short Term Municipal Bond Active Exchange-Traded Fund has the lowest duration (1.9 years) and WAM (3.5 years).
• The PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund currently has a duration of 4.3 years; WAM of 5.3 years.
• Both ETFs are reviewed in depth and compared against each other and a similar PIMCO CEF and three PIMCO MFs.
• Neither ETF has done well by investors over the past decade. With other PIMCO funds performing better, I rate both SMMU and MUNI as Sells.
• I included a section on Municipal Bond market expectations for 2023 and beyond.

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