PIMCO Total Return ETF (NYSEArca: BOND) is off to a flying start since the March launch in both gathering assets and performance.

The exchange traded fund managed by Bill Gross has already pulled in over $1 billion in assets and is handily outperforming its mutual-fund counterpart.

For the three months ended June 5, BOND posted a gain of 5.1%, compared with 2% for the Class A shares of PIMCO Total Return Fund, according to Morningstar.

BOND has net assets of $1.26 billion, the best start for an actively managed ETF ever, writes Marc Prosser at Forbes.

He cites two reasons why the ETF version is outperforming PIMCO Total Return Fund.

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