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June 24, 2009 at 08:00 PM
The PIMCO 1-3 Year U.S. Treasury Index Fund (TUZ) began trading in early June.
This ETF focuses on U.S. Treasuries with short-term maturities and is benchmarked to the Merrill Lynch 1-3 Year U.S. Treasury Index. With maturities ranging from one to three years, price fluctuations may be low relative to longer-dated bonds, yet yields may be generally higher than shorter-term instruments such as Treasury bills or government money market funds.
“PIMCO’s new ETF platform provides investors with broader access to investment management services,” says Mohamed A. El-Erian, PIMCO’s CEO and Co-Chief Investment Officer. “By launching our first ETF, PIMCO is diversifying the range of products that we offer to both long-standing and new clients around the world.”
The bulk of ETF money today is invested in funds that follow traditional indexes, although some see active management as a source of future growth.
