PML CEF — PIMCO Municipal Income Fund II

PIMCO Municipal Income Fund II (PML)

Updated November 12, 2026.

PML is a CEF. Its distribution rate is 7.04%, its trailing-12-month yield is 7.72%, its expense ratio is 1.067%. Dividend Vision Distribution Safety Score™ is 53/100 (Caution). Total return is 104.7% over the past 24.4 years, 998.8 points behind SPY at 1103.5%.

At the current 7.04% distribution rate, a $10,000 investment would generate approximately $704 per year, or $58.67 per month.

PML performance versus SPY

As of Nov 12, 2026

Total return is 104.7% over the past 24.4 years, 998.8 points behind SPY at 1103.5%. Over the past year its total return — price change plus distributions reinvested — is -9.2%. Its deepest 1-year drawdown was 15.0%.

PML key facts

Distribution Safety Score™

53 · Caution

Safety-Adjusted Yield

3.73%

Issuer

PIMCO

Asset type

CEF

Asset class

Fixed Income

Inception date

06/26/2002

Expense ratio

1.067%

Distribution rate

7.04%

Distribution frequency

Monthly

Trailing yield

7.72%

5-year average yield

6.15

Last close

$6.73 (as of 2026-11-12)

NAV

$7.73; NAV date unknown

Premium / discount

Premium not shown · NAV date unknown

Market cap

$844,632,000

Average volume

783,675

Dividend

$0.0395

Ex-dividend date

11/13/2026

Payment date

12/01/2026

Beta

0.753

AUM unavailable in this published snapshot. Missing values do not mean zero or complete coverage. ?

How Dividend Vision calculates yield and returns

Distribution rate (7.04%) uses latest regular dividend ($0.0395) × 12 ÷ market price dated 2026-11-12; one-off specials excluded; identified recurring supplementals included. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (7.72%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: PIMCO; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

PML risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 15.0%.

Who may consider PML — and who may not

It is a weaker fit for investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on PML

• CEFs going ex-dividend this week
• All tickers starting with P

Tagged: CEF, Fixed Income, Municipal.

Frequently asked questions

More securities from PIMCO.