SMMU – PIMCO Short Term Municipal Bond Actv ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks attractive tax-exempt income, consistent with preservation of capital. The fund invests at least 80% of its assets in a diversified portfolio of debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal income tax ("Municipal Bonds"). Municipal Bonds generally are issued by or on behalf of states and local governments and their agencies, authorities and other instrumentalities. It may only invest in U.S. dollar-denominated investment grade debt securities, rated Baa or higher.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
SMMU	PIMCO Short Term Municipal Bond Active Exchange-Traded Fund	ETF	Open			Feb 1, 2010	$1.21B	0.350%	—	—	$236.20M

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