- Coverage ratios were fairly flat month-over-month but UNII values fell a bit. I'm not concerned about the distribution being cut on the taxable funds.
- NAV performance has been stellar across the entirety of the funds but primarily in the higher-risk funds like PHK and RCS.
- Those two funds are in the top two of their respective categories.
- Non-agency MBS lagged other categories like high yield and emerging markets during the quarter.
- I think PHK, RCS and perhaps even a flyer in PGP are compelling buys here.
For further details see:
PHK And RCS: What's The Latest On PIMCO Taxable CEFs?