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Follower ○○

PHK and RCS

I can't tell from portfolio but names sound like they are High Yield Bond funds. Any fans these funds? they have distribution cuts and lots of ROC. If you take income part only yield is very small for a high income CEf?

 

Can one find out credit quality of whole CEFs like M* does with bond mutual funds? I can't seem to find this info like bond quality and overall duration and maturity of Bond CEFs?

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Explorer ○○

Re: PHK and RCS

I consider the pimco taxable funds as highly levered junk bond funds, but more diversified than most.  Now that PHK and RCS distributions are more in line with their sister funds, I don't really expect more idiosyncratic distribution cuts.   As money is fungible, I consider both yield and income to be a psychological game, and focus on total return risk/reward.  A simple empirical way to get a sense of credit quality is to plot the NAV return of the CEF and compare to a junk bond ETF during past periods of stress.  A similar comparison can be made for duration.

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Contributor ○

Re: PHK and RCS

You can find CEF portfolio maturity and duration information on the PIMCO web site.

I don't think you'll find average credit ratings for PIMCO CEFs anywhere, though you can get an idea by looking at the portfolio allocation to high yield vs. investment grade.

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