Founded in 1971, Pacific Investment Management Company, LLC or PIMCO is an internationally acclaimed investment management firm. Headquartered in Newport Beach, CA, the company provides a wide range of financial services across the globe, with more than 3,220 employees. PIMCO had around $2.27 trillion in assets under management as of March 31, 2026. It is present in 24 locations across the Americas, Europe and Asia.
PIMCO offers a broad lineup of investment solutions for the entire gamut of equities, bonds, currencies, real estate, alternative investments and risk-management services. Though the firm manages an array of mutual funds, it is best known for those based on fixed income.
Below, we share with you three top-ranked PIMCO mutual funds — Pimco Global Core Asset Allocation Fund PGMAX, Pimco Diversified Income Fund PDVAX and Pimco Municipal Bond PMLAX. Each has a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of PIMCO mutual funds.
Pimco Global Core Asset Allocation Fund invests most of its net assets in a combination of affiliated and unaffiliated funds. PGMAX advisors invest in fixed-income instruments like bonds, debt securities and other similar instruments issued by various U.S. and non-U.S. public or private sector entities. PGMAX advisors also invest in equity securities, forwards and derivatives.
Pimco Global Core Asset Allocation Fund has three-year annualized returns of 18.3%. By the end of June 2026, PGMAX held 25 issues, with 5.3% of its assets invested in Amazon.com.
Pimco Diversified Income Fund invests most of its net assets in a diversified portfolio of fixed income instruments of varying maturities, which may be represented by forwards or derivatives such as options, futures contracts or swap agreements. PDVAX advisors may also invest in investment-grade securities and junk bonds subject to a maximum of 10% of its total assets in securities rated below B by Moody’s Investors Service, Inc., or equivalently rated by S&P or Fitch.
Pimco Diversified Income Fund has three-year annualized returns of 7.3%. PDVAX has an expense ratio of 1.15%.
Pimco Municipal Bond fund invests most of its net assets in debt securities whose interest is, in the opinion of the bond counsel for the issuer, exempt from federal income tax. PMLAX advisors invest in U.S. government securities and money market instruments. PMLAX advisors also invest in private bonds with similar tax preference without limitation.