- ISIN
- US72202L3895
- CUSIP
- 72202L389
- Issuer
- PIMCO
- Inception Date
- Aug 31, 2017
- Region
- Emerging Markets (Broad)
- Category
- Emerging Markets Equities, Multi-factor
- Leveraged
- 1x (No leverage)
- Index Tracked
- RAFI Dynamic Multi-Factor Emerging Market Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $159M
Share Price Chart
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Performance
MFEM Performance Chart
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM) is up 20.3% since the beginning of the year. MFEM is currently trading at $27 per share. Investors who bought $1,000 worth of MFEM shares 5 years ago would now be looking at an investment worth $1,421.
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Returns By Period
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM) has returned 20.33% so far this year and 33.87% over the past 12 months.
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF
- 1D
- -2.05%
- 1M
- -9.44%
- 6M
- 20.33%
- YTD
- 20.33%
- 1Y
- 33.87%
- 3Y*
- 19.06%
- 5Y*
- 7.28%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.22%
- 1M
- -1.54%
- 6M
- 9.32%
- YTD
- 9.32%
- 1Y
- 20.74%
- 3Y*
- 18.91%
- 5Y*
- 11.45%
- 10Y*
- 13.53%
MFEM Monthly Returns History
Based on dividend-adjusted daily data since Sep 6, 2017, MFEM's average daily return is +0.04%, while the average monthly return is +0.71%. At this rate, an investment would double in approximately 8.2 years.
Historically, 56% of months were positive and 44% were negative. The best month was Nov 2022 with a return of +12.9%, while the worst month was Mar 2020 at -18.6%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 5 months.
On a daily basis, MFEM closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +8.0%, while the worst single day was Mar 16, 2020 at -12.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.58% | 9.56% | -9.87% | 11.72% | 7.43% | -5.41% | -2.05% | 20.33% | |||||
| 2025 | -0.55% | -0.70% | 1.55% | 0.47% | 4.72% | 6.29% | 0.55% | 2.69% | 4.06% | 2.21% | -0.18% | 1.94% | 25.33% |
| 2024 | -3.51% | 3.80% | 1.77% | 0.55% | 3.79% | 1.01% | -0.16% | 0.10% | 4.86% | -3.21% | -1.80% | -2.12% | 4.73% |
| 2023 | 7.86% | -5.44% | 2.27% | 1.01% | -2.29% | 4.68% | 6.60% | -5.37% | -2.05% | -4.90% | 8.28% | 5.02% | 15.14% |
| 2022 | -1.25% | -4.03% | -4.14% | -4.86% | 0.92% | -8.16% | 0.97% | -0.49% | -9.60% | 0.52% | 12.89% | -2.50% | -19.50% |
| 2021 | 2.76% | 2.19% | 1.23% | 3.40% | 3.03% | 0.93% | -3.02% | 1.99% | -3.26% | 0.86% | -3.76% | 4.34% | 10.77% |
Benchmark Metrics
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF has an annualized alpha of -2.28%, beta of 0.78, and R2 of 0.57 versus S&P 500 Index. Calculated based on daily prices since September 06, 2017.
- This ETF participated in 87.31% of S&P 500 Index downside but only 67.54% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -2.28% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Alpha
- -2.28%
- Beta
- 0.78
- R²
- 0.57
- Upside Capture
- 67.54%
- Downside Capture
- 87.31%
Expense Ratio
MFEM has an expense ratio of 0.49%, placing it in the medium range.
Return for Risk
Risk / Return Rank
MFEM ranks 57 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MFEM | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.30 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 2.29 | +0.36 |
| Martin ratioReturn relative to average drawdown | 8.51 | 9.98 | -1.46 |
Dividends
Dividend History
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF provided a 2.29% dividend yield over the last twelve months, with an annual payout of $0.63 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.63 | $0.64 | $1.12 | $0.77 | $1.22 | $6.93 | $0.46 | $0.59 | $0.26 | $0.05 |
Dividend yield | 2.29% | 2.77% | 5.89% | 4.01% | 7.01% | 29.96% | 1.70% | 2.37% | 1.18% | 0.21% |
Monthly Dividends
The table displays the monthly dividend distributions for PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.19 | $0.34 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.22 | $0.00 | $0.07 | $0.64 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.59 | $0.00 | $0.18 | $1.12 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.24 | $0.00 | $0.16 | $0.77 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.29 | $0.00 | $0.64 | $1.22 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.60 | $0.00 | $6.11 | $6.93 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF was 43.32%, occurring on Mar 23, 2020. Recovery took 194 trading sessions.
The current PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF drawdown is 9.53%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -43.32%Mar 2020 | 2y 1mo | 9mo 10d | 2y 11moJan 2018 - Dec 2020 |
Bear market2022 | -31.39%Oct 2022 | 1y 4mo | 1y 11mo | 3y 3moJun 2021 - Sep 2024 |
2025 selloff2025 | -19.22%Apr 2025 | 6mo 2d | 2mo 17d | 8mo 19dOct 2024 - Jun 2025 |
2026 correction2026 | -12.86%Mar 2026 | 1mo 2d | 1mo 1d | 2mo 3dFeb 2026 - Apr 2026 |
2026 pullback2026 | -9.94%Jun 2026 | 23d | — | 29d 21hJun 2026 - now |
Drawdown Indicators
| MFEM | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.32% | -56.78% | +13.46% |
Max Drawdown (1Y)Largest decline over 1 year | -12.86% | -9.10% | -3.76% |
Max Drawdown (3Y)Largest decline over 3 years | -19.22% | -18.90% | -0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -30.78% | -25.43% | -5.35% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -9.53% | -1.66% | -7.87% |
Average DrawdownAverage peak-to-trough decline | -11.44% | -10.71% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.99% | 2.08% | +1.91% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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