At a glance
MINT charges 0.36% a year, above the 0.13% average of the 7 funds most like it (the 7th cheapest of 8). It has $16.43B in assets, the 6th largest of that group; it paid 4.1% of its price in distributions over the past 12 months, monthly. Over the past year it returned +3.9% with distributions reinvested, 2nd of those 8 funds; over three years it returned +4.9% a year. At its worst it fell 4.6% in the 2020 crash (S&P 500: 33.7%) and 2.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 8 months after the lows. Its ten largest positions make up 13.4% of the fund, out of 980 in all.
The short version
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (MINT) is an actively managed bond ETF. It holds short-term investment-grade corporate bonds, mortgage- and asset-backed securities and U.S. Treasury notes, and its average duration normally stays under one year. It aims to pay more than cash with small price swings: its deepest drop since its 2009 launch was 4.6%. The trade-off is cost. Its 0.36% expense ratio is well above the 0.13% average of similar funds.
Price history
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MINT +3.9% over the year to Nov 2, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| MINT official prospectus, to Dec 31, 2025 | — | +4.75% | — | +3.13% | +2.62% | — |
| MINT price data to Nov 2, 2026 | +3.1% | +3.9% | +4.9% | +3.8% | +2.8% | +2.1% |
- Over the year to Nov 2, 2026, MINT returned +3.9%, 2nd of 8 among similar funds.
- Its 5-year annualized return was +3.8% and its 10-year +2.8%.
- In the 2020 COVID crash it fell 4.6% and regained its old high 2.7 months after the low.
- Its worst full calendar year was 2022 (-1.0%); its best was 2023 (+6.3%).
- The deepest fall in its price history was 4.6% (Feb 26, 2020 to Mar 20, 2020), recovered by Jun 9, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +3.1% | — |
| 2025 | +4.7% | +4.75% |
| 2024 | +6.0% | +5.88% |
| 2023 | +6.3% | +6.19% |
| 2022 | -1.0% | -0.96% |
| 2021 | -0.0% | 0.00% |
| 2020 | +1.6% | +1.63% |
| 2019 | +3.3% | +3.31% |
| 2018 | +1.7% | +1.72% |
| 2017 | +1.9% | +1.90% |
| 2016 | +2.1% | +1.99% |
| 2015 | +0.4% | — |
| 2014 | +0.6% | — |
| 2013 | +0.7% | — |
| 2012 | +2.4% | — |
| 2011 | +0.5% | — |
| 2010 | +1.6% | — |
| 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 4.3% over that stretch · deepest drop along the way 4.6%, back to its old high 2.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 1.9% over that stretch · deepest drop along the way 2.1%, back to its old high 7.9 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $3.0100 | |
| 2025 | $4.6500 | -11.4% |
| 2024 | $5.2500 | +6.9% |
| 2023 | $4.9100 | +161.2% |
| 2022 | $1.8800 | +308.7% |
| 2021 | $0.4600 | -61.0% |
| 2020 | $1.1800 | -56.1% |
| 2019 | $2.6900 | +14.0% |
| 2018 | $2.3600 | +43.0% |
| 2017 | $1.6500 | +21.3% |
| 2016 | $1.3600 | +52.8% |
| 2015 | $0.8900 | +8.5% |
| 2014 | $0.8200 | -7.6% |
| 2013 | $0.8879 | -18.2% |
| 2012 | $1.0850 | +7.3% |
| 2011 | $1.0108 | -0.3% |
| 2010 | $1.0134 |
What's inside
As of Jun 30, 2026, the fund held 980 securities; the ten largest made up 13.41% of assets, and 6.45% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| United States Treasury Bonds and notes | 6.21% | |
| Fannie Mae Mortgage-backed securities | 1.12% | |
| Freddie Mac Mortgage-backed securities | 0.99% | |
| SUMISHO AIR LEASE CORP Bonds and notes | 0.87% | |
| HSBC HOLDINGS PLC Bonds and notes | 0.77% | |
| AERCAP IRELAND CAP/GLOBA Bonds and notes | 0.77% | |
| Trillium Credit Card Trust II Other asset-backed | 0.71% | |
| INTL BK RECON & DEVELOP Bonds and notes | 0.70% | |
| Nissan Auto Lease Trust Other asset-backed | 0.63% | |
| SOUTHWEST AIRLINES CO Bonds and notes | 0.63% | |
| BOEING CO Bonds and notes | 0.63% | |
| TELEFONICA EMISIONES SAU Bonds and notes | 0.61% | |
| Freddie Mac Mortgage-backed securities | 0.61% | |
| CHENIERE CORP CHRISTI HD Bonds and notes | 0.59% | |
| DEUTSCHE BANK NY Bonds and notes | 0.59% |
By country
United States 66.17%Canada 7.19%United Kingdom 5.28%Netherlands 2.06%Japan 1.72%By issuer
Companies 70.64%US government-sponsored enterprises 11.23%US Treasury 6.21%US government agencies 2.48%Foreign governments 1.45%The bonds mature in 6.3 years on average (weighted by size), with an average coupon of 4.22%.
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 added a net $429.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.40%, +0.38%, +0.35%.
How it works
MINT does not track an index. PIMCO's managers choose the holdings. The fund must keep at least 80% of its net assets in bonds and similar debt from U.S. and foreign governments and companies. It mainly buys U.S. dollar investment-grade debt rated Baa or higher. When rating agencies disagree, PIMCO uses the highest rating. Duration measures how much a bond's price reacts to interest-rate changes. The fund's average duration normally stays at one year or less, and its dollar-weighted average maturity is normally not expected to exceed three years.
As of June 30, 2026, the fund held 980 issues. Bonds and notes made up 67.7% of assets, mortgage-backed securities 14.6% and other asset-backed debt 12.7%. The largest single position was a U.S. Treasury note at 6.2%. Next came Fannie Mae and Freddie Mac mortgage securities at about 1% each, followed by bonds from Sumisho Air Lease, HSBC and AerCap. The top 10 positions added up to only 13.4%. About 66% of assets were tied to the U.S., with Canada at 7.2% and the U.K. at 5.3%.
Holdings change at the managers' discretion rather than on a set rebalancing schedule, and portfolio turnover was 89%. The fund can use futures (it held 2-year Treasury note futures), forward and to-be-announced mortgage trades, and dollar rolls. The prospectus warns that these can create leverage, which magnifies both gains and losses.
What it really costs
- MINT charges 0.36% a year, versus an average of 0.13% for the similar funds below (7th of 8, cheapest first).
- Of that, 0.35% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $37 in the first year and $456 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| MINT | $37 | $116 | $202 | $456 |
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
MINT aims to keep its price steady and pay income from very short-term bonds, so it could hold money that will be needed soon, not drive long-term growth.
MINT could hold a cash reserve for the next year or two of spending and earn more than a typical bank account, with small price moves. It launched in November 2009, so it has no 2008 record. Its deepest drop was 4.6%, between February 26 and March 20, 2020, and it recovered by June 9, about 2.7 months later. In 2022, as rates rose, it fell 2.1% and needed 7.9 months to recover. Its worst calendar year was 2022, at -0.96%. For someone selling shares in a bad year, losses have been small but not zero, and the fund is not guaranteed. The trailing 12-month yield was 4.09% as of October 29, 2026, paid monthly. That yield will fall if short-term rates drop. Costs are 0.36% a year, or $37 on $10,000 in the SEC's one-year example. 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
- Savers holding money for spending within a year or two who want monthly income and can accept small dips, like the 2.1% drop in 2022.
- Investors who want PIMCO to actively pick among short-term corporate bonds, mortgage securities and asset-backed debt instead of tracking an index.
- Retirees building a cash reserve who want more yield than a bank account (4.09% trailing as of October 29, 2026) and accept no guarantee.
Look elsewhere if
- Cost-focused investors: the 0.36% expense ratio ranks 7th of 8 similar funds, while PULS charges 0.15% and JPST 0.18%.
- Anyone who needs a fixed share price or insured deposits: MINT fell 4.6% in early 2020, and its income changes with short-term rates.
- Investors seeking long-term growth or a stock-crash hedge: its 10-year average annual return was 2.62% through December 31, 2025.
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 |
|---|---|---|---|---|---|
| MINT this fund | 6.3 yrs | 0.36% | $16.43B | +3.9% | +4.9% |
| FTSM First Trust Enhanced Short Maturity ETF | 4.7 yrs | 0.44% | $6.50B | +3.5% | +4.6% |
| PULS PGIM Ultra Short Bond ETF | 8.8 yrs | 0.15% | $18.71B | +4.1% | +5.2% |
| BIV Vanguard Intermediate-Term Bond ETF | 7.5 yrs | 0.03% | $52.45B | -0.7% | +5.1% |
| VCSH Vanguard Short-Term Corporate Bond ETF | 3.5 yrs | 0.03% | $51.74B | +1.9% | +5.7% |
| JPST JPMorgan Ultra-Short Income ETF | 2 yrs | 0.18% | $41.13B | +3.1% | +4.8% |
| SPSB SPDR Portfolio Short Term Corporate Bond ETF | 2.4 yrs | 0.04% | $10.63B | +2.3% | +5.1% |
| BNDX Vanguard Total International Bond ETF | 8.7 yrs | 0.07% | $122.53B | -0.6% | +4.1% |
Questions investors ask
Is MINT safe as a cash alternative?
MINT is low-risk, but it is not cash. It isn't insured, and its share price can fall. Its deepest drop since its 2009 launch was 4.6%, in early 2020, and it recovered in about 2.7 months. In 2022 it fell 2.1% and took 7.9 months to recover. It holds investment-grade bonds with an average duration normally under one year, so swings have been small. Credit problems or a market panic could still cause losses.
Does MINT pay monthly dividends?
Yes, MINT pays income monthly. Over the 12 months to October 29, 2026, it paid $4.12 per share, a trailing yield of 4.09%. The payments come from interest on short-term bonds, mortgage securities and asset-backed debt. Because the fund holds very short maturities, its income follows short-term interest rates closely. If rates fall, the monthly payments will likely shrink within months.
What's the difference between MINT and FTSM?
Both ETFs hold short-maturity bonds, and FTSM (First Trust Enhanced Short Maturity ETF) is MINT's closest match by maturity and issuer mix. MINT costs less, at 0.36% a year versus FTSM's 0.44%. MINT's one-year price return was 4.2% through October 29, 2026, against FTSM's 3.5% through October 27. MINT is also larger, at about $16.4 billion in net assets as of June 30, 2026, versus FTSM's $6.5 billion.
What is MINT's expense ratio?
MINT's expense ratio is 0.36% a year, according to its prospectus filed October 27, 2026, and 0.35% of that is the management fee. In the SEC's standard example, $10,000 earning 5% a year would cost about $37 after one year, $202 after five years and $456 after ten. The average for similar funds is 0.13%, and MINT ranks 7th of 8 on cost.
How did MINT do in 2022 when bonds fell?
MINT held up far better than most bond funds in 2022 but still lost a little. Its calendar-year return was -0.96%, its worst year in the prospectus record. From January 3 to June 15, 2022, it fell 2.1%, and it recovered by February 10, 2023. Its short duration, normally one year or less, limited the damage from rising rates. Rising rates also lifted its income, and it gained 6.19% in 2023.