PIMCO Global Credit Active ETF (PCRD) Review & Analysis

MER Β· #359 of 514AUM Β· #411 of 5081Y Return Β· #282 of 426
What's new this monthData to 30 September 2026
  • βˆ’2.6% in September (total return), behind the median international bonds ETF at βˆ’1.8%.
  • Investors added a net $1.5m (8.0% of the fund).
  • The unit price closed the month at $19.50, near its 12-month low (range $19.46 to $20.66).

About PCRD

PCRD is an international bonds ETF from PIMCO, listed on the TMX Australia exchange since February 2025. With $20m under management it is number 31 of 48 international bonds ETFs by size. The management fee is 0.61% a year, about $61 on every $10,000 invested, dearer than the typical international bonds ETF at 0.50%.

Over the past year it returned +0.3%, against βˆ’0.8% for the median international bonds ETF. With its focus on bonds & fixed income, it is the kind of fund many investors use as a smaller satellite holding alongside a diversified core.

Compare PCRD with

Stock CodePCRD
Fund ManagerPIMCO
Asset ClassInternational bonds
AUM$20m
MER (%)0.61%
Net flows (Sep)+$1.5m
Last Price$19.50
52-Week Range$19.46 – $20.66
Bid/Ask Spread0.18%
Listing Date05/02/2025
ExchangeTMX Australia
IndexNone: actively managed. See the PDS for its benchmark
Issuer websitePIMCO β†—

Performance (% return)

-3%-2%-1%0%1M-2.6%1Y0.3%3Yn/a5Yn/a
1 monthβˆ’2.6%
1 year+0.3%
3 years p.a.–
5 years p.a.–

$10,000 invested…

1 year ago$10,033

Value at 30 September 2026 with distributions reinvested, before tax and brokerage.

Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.

PCRD at a glance: strengths and things to watch

πŸ‘ Strengths

  • Nothing stands out against its category.

⚠️ Things to watch

  • Small fund. With $20m under management, it is more at risk of being closed or merged than larger funds, and trading can be thinner.
  • Short track record. Listed in February 2025, so it hasn't been tested through a full market cycle.

Worked out from PCRD's fees, size, flows, returns and trend against the 48 international bonds ETFs in Australia, to 30 September 2026. General information, not a recommendation.

Joshua StegaetfadviserTrend check
Not rated yet

Is PCRD in a base or a trend?

PCRD doesn't have enough price history yet (about 11 months) for a reliable trend reading, or it is a cash-like fund whose price barely moves.

Why it matters: Every ETF moves between bases and trends. Knowing which stage it is in helps decide when to buy a satellite, and when to wait.

At ETF Adviser the core of a portfolio stays invested through every stage, and satellite ETFs are only bought in an uptrend. Members get a weekly update on which ETFs are breaking out of a base and which trends have broken.

Why no chart? Bond, cash and currency fund prices drop each time a distribution is paid, so a price chart makes them look worse than they are. Check the total returns above instead.

Read more at etfadviser.com.au β†’

Investment Focus

Themes & Sectors

Active ETFsBonds & fixed income

Portfolio Breakdown

Sector breakdown

  • Bonds & cash100.0%

Holdings from the issuer's published portfolio. Compare PCRD's holdings with other ETFs β†’

Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.

Similar ETFs

CodeNameSame holdingsMERAUM1Y3Y p.a.5Y p.a.
LENDVanEck Global Listed Private Credit (AUD Hedged) ETF Currency hedged–0.65%$219mβˆ’4.1%––
VCFVanguard International Credit Securities Index (Hedged) ETF Currency hedged–0.30%$172mβˆ’0.6%+4.2%βˆ’0.9%
PGBFPIMCO Global Bond Active ETF Active–0.49%$83mβˆ’1.3%––
PDFIPIMCO Diversified Fixed Interest Active ETF Active–0.50%$29mβˆ’1.1%––
GOODJanus Henderson Sustainable Credit Active ETF Active–0.50%$4.8m+1.8%+4.8%–
VBNDVanguard Global Aggregate Bond Index (Hedged) ETF Currency hedged–0.20%$4.9bnβˆ’1.2%+3.3%βˆ’1.3%

Same holdings is the share of PCRD's money in companies the other ETF also holds, weighted by size. No other ETF shares much with PCRD, so these are ETFs in the same category. See every ETF like PCRD β†’

PCRD vs its closest alternatives

What actually differs between PCRD and the ETFs most like it. Data to 30 Sep 2026.

LEND VanEck Global Listed Private Credit (AUD Hedged) ETF

  • PCRD is cheaper (0.61% vs 0.65%), worth about $2,586 on $100,000 over 20 years.
  • Over 1 year: PCRD +0.3%, LEND βˆ’4.1% (PCRD ahead by 4.5 percentage points).
  • LEND is much larger ($219m vs $20m), which usually means tighter trading spreads.
  • Different structure: PCRD is actively managed, LEND is currency hedged.

Compare PCRD and LEND side by side β†’

VCF Vanguard International Credit Securities Index (Hedged) ETF

  • VCF is cheaper (0.30% vs 0.61%), worth about $20,681 on $100,000 over 20 years.
  • Over 1 year: PCRD +0.3%, VCF βˆ’0.6% (PCRD ahead by 1.0 percentage points).
  • VCF is about 9 times larger ($172m vs $20m), which usually means tighter trading spreads.
  • Different structure: PCRD is actively managed, VCF is currency hedged.

Compare PCRD and VCF side by side β†’

PGBF PIMCO Global Bond Active ETF

  • PGBF is cheaper (0.49% vs 0.61%), worth about $7,870 on $100,000 over 20 years.
  • Over 1 year: PCRD +0.3%, PGBF βˆ’1.3% (PCRD ahead by 1.6 percentage points).
  • PGBF is about 4 times larger ($83m vs $20m), which usually means tighter trading spreads.

Compare PCRD and PGBF side by side β†’

General information only. Past performance is not a reliable indicator of future performance.

PCRD FAQs

What is the fee for PCRD?

PCRD charges a management fee (MER) of 0.61% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is PCRD?

PCRD had $20m in funds under management as at 30 September 2026.

How has PCRD performed?

PCRD returned +0.3% over the year to 30 September 2026 (total return, including distributions). Past performance is not a reliable indicator of future performance.

Who manages PCRD?

PCRD is managed by PIMCO and has been listed since February 2025.

Is PCRD franked?

Generally no. PCRD invests outside Australia, so its distributions carry little or no franking credits. Franking comes from Australian companies that have paid tax here.

Disclaimer

This review is general information only and does not take into account your objectives, financial situation or needs. Consider the PIMCO product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.