At a glance
CORP charges 0.38% a year, above the 0.13% average of the 7 funds most like it (the most expensive of 8). It has $1.60B in assets, the 5th largest of that group; it paid 5.09% of its price in distributions over the past 12 months, monthly. Over the past year it returned −1.6% with distributions reinvested, 5th of those 8 funds; over three years it returned +6.6% a year. At its worst it fell 19.1% in the 2020 crash (S&P 500: 33.7%) and 18.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 32 months after the lows. Its ten largest positions make up 11.9% of the fund, out of 1,467 in all.
The short version
PIMCO Investment Grade Corporate Bond Index ETF (CORP) tracks the ICE BofA US Corporate Index of US dollar investment-grade company bonds, meaning bonds rated Baa or higher. It holds a sample of about 1,467 positions rather than every bond. It paid monthly income worth 5.09% over the 12 months to October 27, 2026. Its 0.38% expense ratio is well above the 0.03%–0.04% that Vanguard and iShares charge for similar funds.
Price history
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CORP -1.6% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| CORP official prospectus, to Dec 31, 2025 | — | +7.97% | — | +0.29% | +3.45% | — |
| CORP price data to Oct 27, 2026 | -1.1% | -1.6% | +6.6% | +0.4% | +2.5% | +3.4% |
- Over the year to Oct 27, 2026, CORP returned -1.6%, 5th of 8 among similar funds.
- Its 5-year annualized return was +0.4% and its 10-year +2.5%.
- In the 2020 COVID crash it fell 19.1% and regained its old high 2.7 months after the low.
- Its worst full calendar year was 2022 (-15.0%); its best was 2019 (+14.8%).
- The deepest fall in its price history was 21.2% (Aug 4, 2021 to Oct 20, 2022), recovered by Sep 4, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -1.1% | — |
| 2025 | +8.0% | +7.97% |
| 2024 | +2.5% | +2.78% |
| 2023 | +9.9% | +8.79% |
| 2022 | -15.0% | -15.03% |
| 2021 | -1.2% | -1.08% |
| 2020 | +9.7% | +10.00% |
| 2019 | +14.8% | +14.45% |
| 2018 | -3.0% | -2.71% |
| 2017 | +6.5% | +6.38% |
| 2016 | +6.4% | +6.16% |
| 2015 | -0.9% | — |
| 2014 | +7.8% | — |
| 2013 | -1.6% | — |
| 2012 | +11.4% | — |
| 2011 | +5.5% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 10.5% over that stretch · deepest drop along the way 19.1%, back to its old high 2.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 17.9% over that stretch · deepest drop along the way 18%, back to its old high 32.4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $3.5600 | |
| 2025 | $4.6600 | +3.3% |
| 2024 | $4.5100 | -4.2% |
| 2023 | $4.7100 | +54.4% |
| 2022 | $3.0500 | +7.8% |
| 2021 | $2.8300 | -16.5% |
| 2020 | $3.3900 | -5.0% |
| 2019 | $3.5700 | +2.9% |
| 2018 | $3.4700 | +6.8% |
| 2017 | $3.2500 | +9.1% |
| 2016 | $2.9800 | -4.5% |
| 2015 | $3.1200 | -15.2% |
| 2014 | $3.6800 | -49.4% |
| 2013 | $7.2700 | +78.6% |
| 2012 | $4.0700 | +15.0% |
| 2011 | $3.5400 |
What's inside
As of Jun 30, 2026, the fund held 1,467 securities; the ten largest made up 11.92% of assets.
| Holding | Weight | |
|---|---|---|
| United States Treasury Bonds and notes | 2.53% | |
| United States Treasury Bonds and notes | 2.26% | |
| United States Treasury Bonds and notes | 1.28% | |
| United States Treasury Bonds and notes | 1.23% | |
| United States Treasury Bonds and notes | 1.11% | |
| United States Treasury Bonds and notes | 0.95% | |
| United States Treasury Bonds and notes | 0.93% | |
| United States Treasury Bonds and notes | 0.58% | |
| SOUTHERN CAL EDISON Bonds and notes | 0.57% | |
| GULFSTREAM NATURAL GAS Bonds and notes | 0.46% | |
| BNP PARIBAS Bonds and notes | 0.43% | |
| GOLDMAN SACHS GROUP INC Bonds and notes | 0.39% | |
| SUMITOMO MITSUI FINL GRP Bonds and notes | 0.38% | |
| PACIFIC GAS & ELECTRIC Bonds and notes | 0.36% | |
| MARS INC Bonds and notes | 0.35% |
By country
United States 74.33%United Kingdom 4.99%Japan 3.47%Canada 2.89%France 2.45%By issuer
Companies 82.11%US Treasury 11.22%Other 4.58%Foreign governments 0.82%The bonds mature in 9.3 years on average (weighted by size), with an average coupon of 4.55%.
Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $14.6M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.58%, +0.66%, +0.15%.
How it works
CORP follows the ICE BofA US Corporate Index. The index holds investment-grade corporate bonds in US dollars that are issued publicly in the US market. Each bond needs at least one year left until it matures, at least $250 million outstanding and a fixed interest payment schedule. The index had 11,755 bonds as of September 30, 2026. It is weighted by market value, so companies with more debt outstanding get larger weights. The index updates its holdings once a month.
PIMCO doesn't buy every bond in the index. It uses representative sampling, which means it picks a smaller set of bonds that should behave like the whole index. That can make tracking less exact. At least 80% of assets must be in investment-grade corporate bonds. The rest can go into Treasuries, cash or derivatives. As of June 30, 2026, Treasuries made up about 11% of the fund, and the eight largest positions were all Treasury notes and bonds. The largest company bonds were Southern California Edison (0.57%), Gulfstream Natural Gas (0.46%) and BNP Paribas (0.43%).
Bonds added up to about 109% of net assets as of June 30, 2026. The fund paid for the extra with short-term borrowing-type deals, which adds a small amount of leverage. Duration measures how sensitive a bond's price is to interest rates. CORP's duration was 5.94 years as of September 30, 2026, so a one-point rise in rates could cut its price by roughly 6%.
What it really costs
- CORP charges 0.38% a year, versus an average of 0.13% for the similar funds below (8th of 8, cheapest first).
- Of that, 0.2% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $39 in the first year and $480 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| CORP | $39 | $122 | $213 | $480 |
Structure and tax notes
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
CORP pays monthly interest from a broad mix of investment-grade company bonds, and its price has moved far less than stocks.
CORP's monthly payments added up to 5.09% over the 12 months to October 27, 2026, and its one-year volatility was a modest 4.4%. It still carries real risk. Its worst calendar year was 2022, a 15.03% loss as rising rates pushed bond prices down. Its deepest drop was 21.2%, from August 2021 to October 2022, and it took 34.5 months to recover, until September 2025. In the 2020 COVID crash it fell 19.1% in two weeks but recovered in about 2.7 months. The fund launched in 2010, so it has no 2008 record. A retiree who had to cash out shares during 2022 would have locked in losses. Costs also reduce income: the 0.38% expense ratio, or $39 on $10,000 in the first year under the SEC's standard example, compares with a 0.13% peer average. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want monthly income from a broad mix of investment-grade company bonds, which paid 5.09% over the 12 months to October 27, 2026.
- Investors looking for a steadier holding than stocks, with one-year volatility of 4.4% and a beta of 0.16 as of October 27, 2026.
- Investors comfortable with PIMCO's sampling approach, which mixes about 11% Treasuries and small derivative positions in with company bonds.
Look elsewhere if
- Cost-focused investors: the 0.38% expense ratio ranks 8th of 8 similar funds, while USIG and IGIB charge 0.04% and VCIT 0.03%.
- Investors who can't wait out long slumps: its 21.2% drop from August 2021 to October 2022 took 34.5 months to recover.
- Investors who want only company bonds and no leverage: as of June 30, 2026, bonds made up about 109% of net assets, including Treasuries.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
| Fund | Avg. maturity | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| CORP this fund | 9.3 yrs | 0.38% | $1.60B | -1.6% | +6.6% |
| IGIB iShares 5-10 Year Investment Grade Corporat… | 8.3 yrs | 0.04% | $18.72B | -1.0% | +6.4% |
| USIG iShares Broad USD Investment Grade Corporat… | 10.3 yrs | 0.04% | $17.85B | -0.9% | +5.7% |
| VCIT Vanguard Intermediate-Term Corporate Bond E… | 8.2 yrs | 0.03% | $72.04B | -0.6% | +7.1% |
| FLCO Franklin Investment Grade Corporate ETF | 10.9 yrs | 0.35% | $586.5M | -1.9% | +6.0% |
| GIGB Goldman Sachs Access Investment Grade Corpo… | 11 yrs | 0.08% | $1.01B | -1.7% | +6.1% |
| JAAA Janus Henderson AAA CLO ETF | 11.4 yrs | 0.2% | $29.21B | +4.9% | +6.1% |
| IG Principal Investment Grade Corporate Active… | 12.7 yrs | 0.19% | $199.1M | -1.7% | +6.3% |
Questions investors ask
Does CORP pay monthly dividends?
Yes. CORP pays distributions every month from the interest on its bonds. Over the 12 months to October 27, 2026, it paid $4.75 per share, a trailing yield of 5.09%. Payments are not fixed. They can rise or fall as the fund's bonds mature, get called early or are replaced at different interest rates. Payments from bond funds like this are generally taxed as interest income, not as qualified dividends.
What's the difference between CORP and USIG?
Both own broad sets of US investment-grade company bonds. The biggest difference is cost: CORP charges 0.38% a year and USIG charges 0.04%. USIG's bonds had a longer average maturity, 10.3 years versus CORP's 9.3. CORP also held about 11% in Treasuries as of June 30, 2026. Three-year annualized returns were close: 6.6% for CORP as of October 27, 2026, and 6.3% for USIG as of October 29, 2026. USIG is much larger, with about $17.8 billion in net assets.
Is CORP good for retirement income?
CORP may suit retirees who want monthly income from high-quality company bonds, but its price can fall. It paid 5.09% over the 12 months to October 27, 2026. However, it lost 15.03% in 2022, and its deepest drop took 34.5 months to recover. Its 0.38% expense ratio is higher than the 0.13% average for similar funds, which reduces the income investors keep. It may work best alongside other holdings rather than on its own.
What does CORP hold?
As of June 30, 2026, CORP had about 1,467 holdings. About 82% were company bonds and about 11% were US Treasuries. The eight largest positions were Treasury notes and bonds, including one inflation-indexed note. The largest company bonds came from Southern California Edison, Gulfstream Natural Gas, BNP Paribas, Goldman Sachs, Sumitomo Mitsui and Pacific Gas & Electric, each under 0.6% of the fund. About 74% of the exposure was to US issuers, followed by the UK, Japan and Canada.
How much did CORP lose in 2022?
CORP lost 15.03% in 2022, its worst calendar year, according to its prospectus. Interest rates rose sharply that year, and bond prices fall when rates rise. Because of 2022, its average annual return over the five years through December 31, 2025, was just 0.29%. Its 10-year average was 3.45%. Its deepest drop, 21.2% from August 2021 to October 2022, took until September 2025 to recover.