Continue to site >
Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

PGIM HIGH YIELD FUND

PBHAX | Fund

$4.73

$17.5 B

6.65%

$0.31

0.75%

Vitals

YTD Return

1.3%

1 yr return

11.5%

3 Yr Avg Return

1.5%

5 Yr Avg Return

3.8%

Net Assets

$17.5 B

Holdings in Top 10

25.5%

52 WEEK LOW AND HIGH

$4.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.75%

SALES FEES

Front Load 3.25%

Deferred Load N/A

TRADING FEES

Turnover 56.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

PGIM HIGH YIELD FUND

PBHAX | Fund

$4.73

$17.5 B

6.65%

$0.31

0.75%

PBHAX - Profile

Distributions

  • YTD Total Return 1.3%
  • 3 Yr Annualized Total Return 1.5%
  • 5 Yr Annualized Total Return 3.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.01%
DIVIDENDS
  • Dividend Yield 6.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    PGIM HIGH YIELD FUND
  • Fund Family Name
    PGIM Funds (Prudential)
  • Inception Date
    Jan 03, 1994
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Robert Spano

Fund Description

To achieve the Fund's income objective, the Fund invests, under normal circumstances, at least 80% of the its investable assets in a diversified portfolio of high yield fixed income instruments rated Ba or lower by Moody's Investors Service, Inc. (“Moody's”) or BB or lower by S&P Global Ratings (“S&P”), and instruments either comparably rated by another nationally recognized statistical rating organization (“NRSRO”), or considered by the subadviser to be of comparable quality, that is, junk bonds. Such instruments also include other investments (including derivatives) with similar economic characteristics. The term “investable assets” refers to the Fund's net assets plus any borrowings for investment purposes. The Fund's investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions.The Fund may invest up to 20% of its investable assets in U.S. currency-denominated fixed income securities of foreign governments and other foreign issuers, including Brady Bonds, which are long-term bonds issued by developing nations, and preferred stock. The Fund may also invest up to 10% of its investable assets in foreign currency-denominated fixed income securities issued by foreign or domestic issuers. Foreign government fixed income securities include securities issued by quasi-governmental entities, governmental agencies, supranational entities and other governmental entities.The Fund may use various derivative strategies to try to improve the Fund’s returns. The subadviser may also use hedging techniques to try to protect the Fund’s assets. Although the Fund has the flexibility to make use of derivatives, it may choose not to for a variety of reasons, even under very volatile market conditions. The Fund’s investments in foreign issuers may include issuers located anywhere in the world, including emerging markets. From time to time the Fund’s investments may be concentrated in a geographic region or country.In managing the Fund’s assets, the subadviser uses a combination of top-down economic analysis and bottom-up research in conjunction with proprietary quantitative models and risk management systems. In the top-down economic analysis, the subadviser develops views on economic, policy and market trends by continually evaluating economic data that affect the movement of markets and securities prices. In its bottom-up research, the subadviser develops an internal rating and outlook on issuers. The rating and outlook are determined based on a thorough review of the financial health and trends of the issuer. The subadviser may also consider investment factors such as expected total return, yield, spread and potential for price appreciation as well as credit quality, maturity and risk. The Fund may invest in a security based upon the expected total return rather than the yield of such security. The subadviser generally will employ fundamental analysis in making such determinations. Fundamental analysis involves review of financial statements and other data to attempt to predict an issuer’s prospects and to try to decide whether the price of the issuer’s security is undervalued orovervalued.
Read More

PBHAX - Performance

Return Ranking - Trailing

Period PBHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -4.9% 8.2% 57.25%
1 Yr 11.5% -4.3% 26.0% 50.23%
3 Yr 1.5%* -15.6% 20.6% 58.99%
5 Yr 3.8%* -11.2% 37.3% 37.13%
10 Yr 4.0%* -4.7% 19.5% 18.12%

* Annualized

Return Ranking - Calendar

Period PBHAX Return Category Return Low Category Return High Rank in Category (%)
2023 4.4% -4.7% 14.3% 71.12%
2022 -17.3% -33.4% 3.6% 80.72%
2021 -0.4% -8.4% 14.9% 64.44%
2020 -1.3% -13.9% 302.7% 72.44%
2019 9.0% -4.4% 13.3% 25.34%

Total Return Ranking - Trailing

Period PBHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -4.9% 8.2% 57.25%
1 Yr 11.5% -4.3% 26.0% 50.23%
3 Yr 1.5%* -15.6% 20.6% 58.99%
5 Yr 3.8%* -11.2% 37.3% 37.13%
10 Yr 4.0%* -4.7% 19.5% 18.12%

* Annualized

Total Return Ranking - Calendar

Period PBHAX Return Category Return Low Category Return High Rank in Category (%)
2023 12.6% -4.7% 18.7% 38.66%
2022 -11.5% -33.4% 47.8% 68.97%
2021 6.6% -8.4% 24.8% 19.41%
2020 5.8% -9.6% 325.6% 41.85%
2019 15.9% -3.8% 21.5% 11.03%

NAV & Total Return History


PBHAX - Holdings

Concentration Analysis

PBHAX Category Low Category High PBHAX % Rank
Net Assets 17.5 B 1.85 M 22.6 B 4.76%
Number of Holdings 745 2 2736 12.65%
Net Assets in Top 10 4.41 B -492 M 4.45 B 0.77%
Weighting of Top 10 25.49% 4.2% 149.6% 12.50%

Top 10 Holdings

  1. PGIM Institutional Money Market Fund - D 14.86%
  2. (PIPA070) PGIM Core Government Money Market Fund 2.53%
  3. PGIM Core Short-Term Bond Fund 2.17%
  4. United States Treasury Note/Bond 1.71%
  5. Calpine Corp 0.95%
  6. FERRELLGAS ESCROW LLC 3/30/31 Equity Preferred 0.82%
  7. Bombardier Inc 0.68%
  8. Verscend Escrow Corp 0.61%
  9. DISH DBS Corp 0.60%
  10. United States Treasury Note/Bond 0.55%

Asset Allocation

Weighting Return Low Return High PBHAX % Rank
Bonds
91.04% -3.13% 154.38% 79.26%
Cash
17.39% -52.00% 49.49% 2.47%
Stocks
4.42% 0.00% 99.61% 15.05%
Preferred Stocks
0.84% 0.00% 8.06% 13.27%
Convertible Bonds
0.40% 0.00% 17.89% 82.72%
Other
-0.31% -63.70% 102.57% 94.44%

Stock Sector Breakdown

Weighting Return Low Return High PBHAX % Rank
Energy
97.97% 0.00% 100.00% 10.89%
Utilities
1.32% 0.00% 100.00% 26.82%
Consumer Cyclical
0.71% 0.00% 100.00% 34.92%
Technology
0.00% 0.00% 33.17% 73.74%
Real Estate
0.00% 0.00% 86.71% 70.11%
Industrials
0.00% 0.00% 93.12% 73.46%
Healthcare
0.00% 0.00% 22.17% 68.44%
Financial Services
0.00% 0.00% 100.00% 73.46%
Communication Services
0.00% 0.00% 99.99% 82.96%
Consumer Defense
0.00% 0.00% 100.00% 69.55%
Basic Materials
0.00% 0.00% 100.00% 70.67%

Stock Geographic Breakdown

Weighting Return Low Return High PBHAX % Rank
US
4.42% 0.00% 99.61% 15.12%
Non US
0.00% -0.01% 0.83% 66.82%

Bond Sector Breakdown

Weighting Return Low Return High PBHAX % Rank
Corporate
91.98% 0.00% 129.69% 74.19%
Cash & Equivalents
17.39% 0.00% 49.49% 2.16%
Government
1.01% 0.00% 99.07% 16.54%
Securitized
0.93% 0.00% 97.24% 24.88%
Municipal
0.00% 0.00% 4.66% 63.37%
Derivative
-0.31% -15.04% 42.26% 94.75%

Bond Geographic Breakdown

Weighting Return Low Return High PBHAX % Rank
US
90.60% -3.13% 129.21% 65.28%
Non US
0.44% 0.00% 97.33% 37.96%

PBHAX - Expenses

Operational Fees

PBHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.75% 0.04% 31.61% 71.76%
Management Fee 0.36% 0.00% 1.84% 10.31%
12b-1 Fee 0.25% 0.00% 1.00% 43.13%
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

PBHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.25% 2.25% 5.75% 81.00%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PBHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PBHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 56.00% 1.00% 255.00% 36.84%

PBHAX - Distributions

Dividend Yield Analysis

PBHAX Category Low Category High PBHAX % Rank
Dividend Yield 6.65% 0.00% 35.52% 17.48%

Dividend Distribution Analysis

PBHAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

PBHAX Category Low Category High PBHAX % Rank
Net Income Ratio 5.01% -2.39% 14.30% 20.57%

Capital Gain Distribution Analysis

PBHAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

PBHAX - Fund Manager Analysis

Managers

Robert Spano


Start Date

Tenure

Tenure Rank

Oct 16, 2007

14.63

14.6%

Robert Spano, CFA, CPA, is Principal and high yield portfolio manager for Prudential Fixed Income's High Yield Team. Prior to assuming his current position in 2007, Mr. Spano was a high yield credit analyst for 10 years in Prudential Fixed Income's Credit Research Group, covering the health, lodging, consumer, gaming, restaurants, and chemical industries. Earlier, he worked as an investment analyst in the Project Finance Unit of Prudential Financial’s private placement group. Mr. Spano also held positions in the internal audit and risk management units of Prudential Securities. He received a BS in Accounting from the University of Delaware and an MBA from New York University. Mr. Spano holds the Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA) designations.

Ryan Kelly


Start Date

Tenure

Tenure Rank

Feb 29, 2012

10.26

10.3%

Ryan Kelly, CFA, is Principal and high yield portfolio manager for Prudential Fixed Income's High Yield Team. Prior to assuming his current position in 2012, Mr. Kelly was a high yield credit analyst for nearly 10 years in Prudential Fixed Income's Credit Research Group, covering the automotive, energy, and finance sectors. Previously, Mr. Kelly was a senior high yield bond analyst at Muzinich & Company. Earlier, he was a senior associate at PNC Capital Markets/PNC Bank where he worked in the high yield bond, mergers and acquisition (M&A) and loan syndication groups. Mr. Kelly began his career as an investment banker at Chase Manhattan Bank, working on project finance transactions and M&A advisory mandates for the electric power sector. He earned a BA in Economics from Michigan State University and holds the Chartered Financial Analyst (CFA) designation.

Brian Clapp


Start Date

Tenure

Tenure Rank

Jun 01, 2013

9.0

9.0%

Brian Clapp, CFA, is Principal and high yield portfolio manager for PGIM Fixed Income's High Yield Team. Previously, Mr. Clapp was a senior high yield credit analyst on PGIM Fixed Income’s Credit Research team. He joined Prudential Financial in 2006 from Muzinich & Co. While there, Mr. Clapp held several positions, including portfolio manager for a high yield bond based hedge fund, hedge fund credit analyst, and credit analyst covering the chemical, industrial, and transportation sectors. Earlier at Triton Partners, an institutional high yield fund manager, Mr. Clapp was a credit analyst covering the metals and mining, healthcare, homebuilding, building products and transportation sectors. He received a BS in Finance from Bryant College, and an MS in Computational Finance, and an MBA from Carnegie Mellon. Mr. Clapp holds the Chartered Financial Analyst (CFA) designation.

Robert Cignarella


Start Date

Tenure

Tenure Rank

Mar 05, 2014

8.24

8.2%

Robert Cignarella, CFA, is a Managing Director and Head of PGIM Fixed Income's Leveraged Finance Team, which includes the US and European High Yield Bond and Bank Loan sector teams. Mr. Cignarella is also the co-Head of the Global High Yield Strategy. Prior to joining the firm in 2014, Mr. Cignarella was a managing director and co-head of high yield and bank loans at Goldman Sachs Asset Management. He also held positions as a high yield portfolio manager and a high yield and investment grade credit analyst. Earlier, he was a financial analyst in the investment banking division of Salomon Brothers. Mr. Cignarella received an MBA from the University of Chicago, and a bachelor’s degree in operations research and industrial engineering from Cornell University. He holds the Chartered Financial Analyst (CFA) designation.

Michael Gormally


Start Date

Tenure

Tenure Rank

Apr 01, 2022

0.16

0.2%

Michael Gormally is a Vice President, and portfolio manager and trader for PGIM Fixed Income’s U.S. High Yield Bond Team. Previously, he was an Analyst in the Portfolio Analysis Group, where he managed a team of portfolio analysts dedicated to High Yield. He was responsible for the monitoring of daily risk and positioning, along with the implementation of portfolio management trading tools and performance attribution models. Before joining the Firm in 2014, Mr. Gormally was a credit analyst at BNY Mellon. Mr. Gormally received a BA in Economics from Johns Hopkins University and an MBA from the University of Notre Dame.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.12 8.17