PAXS: Newest PIMCO CEF Increasingly Attractive In The Suite

Aug. 05, 2022 6:08 AM ETPIMCO Access Income Fund (PAXS)PDO36 Comments


  • PIMCO CEFs remain popular options in the credit CEF space due to their strong historic returns and high distribution rates.
  • PDO has recently outperformed the sector on the back of its distribution increase.
  • This has made PAXS - the most recently launched PIMCO credit CEF - more attractive and we expect it to follow PDO with a distribution increase in the medium term.
  • PAXS is trading at a 6.3% discount and an 8.5% current yield.
  • I do much more than just articles at Systematic Income: Members get access to model portfolios, regular updates, a chat room, and more. Learn More »

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This article was first released to Systematic Income subscribers and free trials on July 28.

As we discussed recently, the PIMCO Dynamic Opportunities Fund (PDO) has raised its distribution which has caused it to outperform within the

PAXS vs peers management fee

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PIMCO Multisector CEF valuation

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Taxable fund allocation

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PIMCO taxable CEF leverage

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3M distribution coverage

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PAXS normalized UNII

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PAXS vs PDO discounts

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PAXS volume

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PAXS vs PDO disaggregation

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This article was written by

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Income investing across BDCs, CEFs, ETFs, preferreds, baby bonds and more.

At Systematic Income our aim is to build robust Income Portfolios with mid-to-high single digit yields and provide investors with unique Interactive Tools to cut through the wealth of different investment options across BDCs, CEFs, ETFs, mutual funds, preferred stocks and more. Join us on our Marketplace service Systematic Income.

Our background is in research and trading at several bulge-bracket global investment banks along with technical savvy which helps to round out our service. 

Disclosure: I/we have a beneficial long position in the shares of PDO, PAXS either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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