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Name

As of 12/24/2024

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 Short Duration High Yield Income Fund

HYSQX | Fund

$8.38

$4.92 B

6.52%

$0.55

0.72%

Vitals

YTD Return

7.1%

1 yr return

7.3%

3 Yr Avg Return

4.0%

5 Yr Avg Return

4.4%

Net Assets

$4.92 B

Holdings in Top 10

10.8%

52 WEEK LOW AND HIGH

$8.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.72%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 67.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/24/2024

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 Short Duration High Yield Income Fund

HYSQX | Fund

$8.38

$4.92 B

6.52%

$0.55

0.72%

HYSQX - Profile

Distributions

  • YTD Total Return 7.1%
  • 3 Yr Annualized Total Return 4.0%
  • 5 Yr Annualized Total Return 4.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.14%
DIVIDENDS
  • Dividend Yield 6.5%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    PGIM Short Duration High Yield Income Fund
  • Fund Family Name
    Prudential
  • Inception Date
    Oct 27, 2014
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Robert Spano

Fund Description

The Fund will seek to achieve its investment objective by investing primarily in a diversified portfolio of high yield fixed income instruments that are rated below investment grade by a nationally recognized statistical rating organization (“NRSRO”) or, if unrated, are considered by the subadviser to be of comparable quality. Under normal market conditions, the Fund will invest at least 80% of its investable assets in a diversified portfolio of high yield fixed income instruments that are below investment grade (commonly referred to as junk bonds) with varying maturities and other investments (including derivatives) with similar economic characteristics. The term “below investment grade” refers to instruments either rated Ba1 or lower by Moody’s Investors Service, Inc. (“Moody’s”), BB+ or lower by S&P Global Ratings (“S&P”) or Fitch, Inc. (“Fitch”), or comparably rated by another NRSRO, or, if unrated, considered by the subadviser to be of comparable quality. 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.Although the Fund may invest in instruments of any duration or maturity, the Fund normally will seek to maintain a weighted average portfolio duration of three years or less and a weighted average maturity of five years or less. As of August 31, 2024, the Fund’s weighted average portfolio duration was 2.18 years and the Fund’s weighted average maturity was 3.14 years.The types of fixed income securities in which the Fund may invest include bonds, debentures, notes, commercial paper, floating rate or variable rate instruments and other similar types of debt instruments, as well as loan participations and assignments, money market instruments, payment-in-kind securities and derivatives related to or referencing these types of securities and instruments. The Fund may invest in fixed income instruments of companies or governments. The Fund may invest up to 20% of its investable assets in U.S. currency-denominated fixed income securities issued by foreign issuers, including issuers in emerging markets. The Fund may invest up to 10% of its investable assets in non-U.S. currency-denominated fixed income securities issued by foreign or domestic issuers.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, which includes a review of the composition of revenue, profitability, cash, flow margin and leverage. In determining which securities to buy and sell, the subadviser will consider, among other things, the financial history and condition, earnings trends, analysts' recommendations, and the prospects and the management of an 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 under-valued or overvalued.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.
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HYSQX - Performance

Return Ranking - Trailing

Period HYSQX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.1% -8.8% 17.7% 61.22%
1 Yr 7.3% -9.2% 18.4% 61.06%
3 Yr 4.0%* -14.6% 21.0% 13.87%
5 Yr 4.4%* -12.0% 36.6% 18.25%
10 Yr 4.8%* -4.8% 20.1% 15.37%

* Annualized

Return Ranking - Calendar

Period HYSQX Return Category Return Low Category Return High Rank in Category (%)
2023 4.1% -4.7% 14.3% 76.64%
2022 -10.8% -33.4% 3.6% 8.14%
2021 0.8% -8.4% 8.2% 28.10%
2020 -1.1% -13.2% 302.7% 70.34%
2019 5.5% -4.4% 13.3% 78.83%

Total Return Ranking - Trailing

Period HYSQX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.1% -8.8% 17.7% 61.22%
1 Yr 7.3% -9.2% 18.4% 61.06%
3 Yr 4.0%* -14.6% 21.0% 13.87%
5 Yr 4.4%* -12.0% 36.6% 18.25%
10 Yr 4.8%* -4.8% 20.1% 15.37%

* Annualized

Total Return Ranking - Calendar

Period HYSQX Return Category Return Low Category Return High Rank in Category (%)
2023 11.8% -4.7% 18.7% 61.18%
2022 -5.1% -33.4% 47.8% 5.81%
2021 6.4% -8.4% 12.4% 22.24%
2020 4.6% -9.6% 325.6% 64.83%
2019 11.6% -3.8% 21.6% 79.20%

NAV & Total Return History

HYSQX - Holdings

Concentration Analysis

HYSQX Category Low Category High HYSQX % Rank
Net Assets 4.92 B 3.13 M 25.3 B 12.62%
Number of Holdings 565 2 3879 29.65%
Net Assets in Top 10 528 M -492 M 5.25 B 15.65%
Weighting of Top 10 10.77% 4.2% 146.0% 71.33%

Top 10 Holdings

  1. PGIM Ultra Short Bond ETF 2.18%
  2. (PIPA070) PGIM Core Government Money Market Fund 1.52%
  3. Camelot Finance SA 1.33%
  4. Gen Digital Inc 0.96%
  5. Medline Borrower LP 0.93%
  6. Vistra Operations Co LLC 0.80%
  7. United States Treasury Note/Bond 0.80%
  8. Howard Hughes Corp/The 0.76%
  9. PGIM Core Short-Term Bond Fund 0.75%
  10. Standard Industries Inc/NY 0.74%

Asset Allocation

Weighting Return Low Return High HYSQX % Rank
Bonds 		92.78% 0.00% 145.36% 71.80%
Stocks 		4.70% 0.00% 97.54% 10.00%
Cash 		2.30% -52.00% 48.02% 73.97%
Convertible Bonds 		1.00% 0.00% 17.89% 53.87%
Other 		0.20% -39.08% 99.86% 31.47%
Preferred Stocks 		0.02% 0.00% 4.97% 41.35%

Stock Sector Breakdown

Weighting Return Low Return High HYSQX % Rank
Energy 		88.38% 0.00% 100.00% 18.69%
Consumer Cyclical 		6.82% 0.00% 100.00% 22.26%
Utilities 		4.81% 0.00% 100.00% 13.35%
Technology 		0.00% 0.00% 33.17% 37.69%
Real Estate 		0.00% 0.00% 86.71% 29.67%
Industrials 		0.00% 0.00% 93.12% 40.36%
Healthcare 		0.00% 0.00% 22.17% 25.82%
Financial Services 		0.00% 0.00% 100.00% 36.50%
Communication Services 		0.00% 0.00% 99.99% 57.57%
Consumer Defense 		0.00% 0.00% 100.00% 27.60%
Basic Materials 		0.00% 0.00% 100.00% 37.09%

Stock Geographic Breakdown

Weighting Return Low Return High HYSQX % Rank
US 		4.70% 0.00% 97.54% 10.05%
Non US 		0.00% -0.01% 2.00% 29.32%

Bond Sector Breakdown

Weighting Return Low Return High HYSQX % Rank
Corporate 		90.34% 0.00% 100.00% 79.37%
Government 		5.34% 0.00% 99.07% 5.94%
Cash & Equivalents 		1.52% 0.00% 48.02% 73.97%
Securitized 		0.64% 0.00% 97.24% 27.39%
Derivative 		0.20% -14.58% 42.26% 15.16%
Municipal 		0.00% 0.00% 1.17% 17.33%

Bond Geographic Breakdown

Weighting Return Low Return High HYSQX % Rank
US 		91.17% 0.00% 126.57% 67.71%
Non US 		1.61% 0.00% 96.91% 28.67%

HYSQX - Expenses

Operational Fees

HYSQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.72% 0.02% 38.33% 72.70%
Management Fee 0.69% 0.00% 1.75% 81.12%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

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

Trading Fees

HYSQX 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.

HYSQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 67.00% 1.00% 255.00% 57.01%

HYSQX - Distributions

Dividend Yield Analysis

HYSQX Category Low Category High HYSQX % Rank
Dividend Yield 6.52% 0.00% 11.76% 23.24%

Dividend Distribution Analysis

HYSQX Category Low Category High Category Mod
Dividend Distribution Frequency None SemiAnnual Monthly Monthly

Net Income Ratio Analysis

HYSQX Category Low Category High HYSQX % Rank
Net Income Ratio 4.14% -2.39% 9.30% 62.75%

Capital Gain Distribution Analysis

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

Distributions History

View More +

HYSQX - Fund Manager Analysis

Managers

Robert Spano

Start Date

Tenure

Tenure Rank

Oct 26, 2012

9.6

9.6%

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

Oct 26, 2012

9.6

9.6%

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

May 31, 2013

9.01

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 7.31 8.17

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