PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund MUNI Strategy

The investment seeks attractive tax-exempt income, consistent with preservation of capital. The fund invests at least 80% of its assets in a diversified portfolio of debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal income tax ("Municipal Bonds"). The fund may invest up to 30% of its net assets in “private activity” bonds whose interest is a tax‑preference item for purposes of the federal alternative minimum tax (“AMT”).