The $241 billion PIMCO Total Return, which has underperformed its peers over the past year—returning 3.48% year to date—has been hit with $17 billion in outflows, Morningstar data shows. By comparison, taxable bond funds, which are up 5.87% YTD, took in $105.8 billion in inflows over the past 12 months.

“The PIMCO Total Return fund has been seeing a steady stream of outflows,” Kevin McDevitt, Morningstar editorial director told Reuters. “Gross’s fund has underperformed this year, and a lot of it goes back to his misplaced bet on Treasuries.”

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