MFDX
PIMCO RAFI Dynamic Multi-Factor International Equity ETF
The PIMCO RAFI Dynamic Multi-Factor International Equity ETF is a smart beta strategy that seeks to track the investment results of the RAFI Dynamic Multi-Factor Developed Ex-U.S. Index, which provides dynamically-weighted exposure to multiple equity factors, including value, quality, low volatility, momentum and size.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
418.1 M
ASSETS UNDER MGMT
39 bp
EXPENSES
Fund Basics
| Fund sponsor | PIMCO |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 31, 2017 |
| Assets (mns) | $418 |
| Expense ratio | 39 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| BRITISH AMERICAN TOBACCO PLC | 0.9 % |
| BANCO SANTANDER SA | 0.9 % |
| NOVARTIS AG | 0.9 % |
| ROCHE HOLDING AG | 0.8 % |
| SOCIETE GENERALE SA NEW SHARE ISSUE 2015 | 0.8 % |
| GSK PLC | 0.7 % |
| NESTLE SA-REG **PROXY** | 0.7 % |
| ZURICH FINANCIAL SERVICES AG | 0.7 % |
| UNILEVER PLC | 0.6 % |
| IBERDROLA SA | 0.6 % |
Constituent Breakdown
| Number of holdings | 1297 |
| Herfindahl-Hirschman Index | 32 |
| Wgt avg mkt cap (mns) | $54,329 |
| Large cap (>$10bn) | 73.6% |
| Mid cap ($2-10bn) | 20.1% |
| Small cap (<$2bn) | 4.1% |
| Developed mkts. | 98.4% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
JAPAN | 24.4 % |
 |
BRITAIN | 12.5 % |
 |
CANADA | 8.0 % |
 |
GERMANY | 5.4 % |
 |
AUSTRALIA | 4.5 % |
 |
SPAIN | 4.4 % |
 |
SWITZERLAND | 4.4 % |
 |
FRANCE | 3.6 % |
 |
ITALY | 3.2 % |
 |
NETHERLANDS | 3.2 % |
Historical Performance
Standardized Performance (as of 12/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 30.1% | 30.1% | 14.8% | 14.4% | 7.1% | -- | -- | 5.2% |
| Dividend Yield | 3.1% | 3.1% | 3.1% | 3.3% | 3.2% | -- | -- | 2.9% |
| Total Returns | 33.1% | 33.1% | 17.9% | 17.8% | 10.2% | -- | -- | 8.1% | Ann. Volatility | 14.4% | 14.4% | 13.2% | 13.0% | 14.7% | -- | -- | 16.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.53 | 51% |
| MSCI EAFE | 0.85 | 94% |
| MSCI Emg Mkts | 0.62 | 58% |
Liquidity Measures
| Avg. volume (000) | 19 |
| ADV traded (mns) | $1 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.09% |
Technical Indicators
| 30d moving avg. (EMA) | $38.50 |
| Relative strength (RSI) | 63 |
| MACD/Signal | 0.40/0.37 |
| Bollinger Bands (Upper/Lower) | $39.57/$37.88 |
| Short interest (% of AUM) | 0.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. MFDX |
Expenses vs. MFDX |
ALTAR Score™ vs. MFDX |
|---|---|---|---|---|
| PXF | Invesco FTSE RAFI Developed Markets ex-U.S. ETF | 46.8% | +6 bp | +7.7% |
| BKIE | BNY Mellon International Equity ETF | 44.7% | -35 bp | +6.6% |
| IDEV | iShares Core MSCI International Developed Markets ETF | 44.6% | -35 bp | +6.7% |
| FNDF | Schwab Fundamental International Large Co. Index ETF | 44.3% | -14 bp | +8.5% |
| DFAI | Dimensional International Core Equity Market ETF | 43.8% | -21 bp | +6.7% |
| IEFA | iShares Core MSCI EAFE ETF | 43.2% | -32 bp | +6.8% |
| SPDW | SPDR Portfolio Developed World ex-US ETF | 43.0% | -36 bp | +6.7% |
| GSID | Goldman Sachs MarketBeta International Equity ETF | 42.9% | -19 bp | +6.5% |
| DFIC | Dimensional International Core Equity 2 ETF | 42.4% | -16 bp | +7.0% |
| HFXI | IQ FTSE International Equity Currency Neutral ETF | 42.4% | -19 bp | +6.5% |
Risk and Returns: MFDX vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 1/11/2026
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
MFDX
6.8%
Cat. Avg
6.7%
ALTAR Score™ Calculation
Category Overview
There are 270 funds in the International Equity category, with an average ALTAR Score™
of 6.7% and a standard deviation of
1.7%. MFDX's ALTAR Score™ is approximately
0.0 standard deviations
above
the category average. This places MFDX in the 51st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
MFDXSELL
U/W
HOLD
O/W
BUY