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Gross’s ETF Soars to $3 Billion Outperforming Mutual Fund

Bill Gross’s Total Return Exchange-Traded Fund reached $3 billion in assets in about seven months as it outperformed the world’s largest mutual fund, which follows a similar strategy.

Pimco Total Return ETF, which started trading on the NYSE Arca exchange on March 1, had $3.01 billion in net assets as of yesterday’s close, according to Pacific Investment Management Co.’s website. The fund has advanced 10.4 percent since inception through yesterday’s close, compared with the 6.5 percent return for Gross’s $278 billion Total Return Fund, according to data compiled by Bloomberg.