And the Pimco Total Return ETF will put that juice to the test.

FORBES: Pimco Total Return ETF Shines a Light on Transaction Costs

And some of the newer bond ETFs (like PIMCO Total Return ETF, BOND) show signs of being real competitors for bond funds down the road.

FORBES: Five Reasons Bond Funds Are Better Than ETFs

With the initial run of the Pimco Total Return ETF ( BOND), active ETFs and their managers may need to start thinking about the challenges that success could pose to the ETF structure.

FORBES: BOND and the Future of Active ETFs

And while many investment advisers traditionally wait for a 3-year track record to commit new money to an active strategy, the Pimco Total Return ETF will more likely be judged sooner by its variance to the Pimco Total Return Fund, sporting nearly a quarter-century of returns.

FORBES: Pimco Total Return ETF Shines a Light on Transaction Costs