PDSCX: PGIM Short Duration Muni High Income C

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PDSCX PGIM Short Duration Muni High Income C


Profile

PDSCX - Profile

Vitals

  • YTD Return -3.0%
  • 3 Yr Annualized Return 0.3%
  • 5 Yr Annualized Return -0.1%
  • Net Assets $188 M
  • Holdings in Top 10 13.2%

52 WEEK LOW AND HIGH

$10.12
$9.56
$10.65

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.84%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 90.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA $1,000

Fund Classification


Distributions

  • YTD Total Return -3.0%
  • 3 Yr Annualized Total Return 0.3%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.46%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    PGIM Short Duration Muni High Income Fund
  • Fund Family Name
    PGIM Funds (Prudential)
  • Inception Date
    May 29, 2014
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Susan Courtney

Fund Description

The fund seeks to achieve its investment objective by investing, under normal conditions, at least 80% of its investable assets in municipal bonds that pay interest which is exempt from regular federal personal income tax. The advisor generally intends to maintain an investment portfolio with a weighted average duration of 4.5 years or less.


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Categories

Performance

PDSCX - Performance

Return Ranking - Trailing

Period PDSCX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.0% -23.6% 195.6% 77.44%
1 Yr -1.2% -22.3% 190.1% 81.29%
3 Yr 0.3%* -7.3% 6.5% 52.04%
5 Yr -0.1%* -6.0% 11.8% 30.36%
10 Yr N/A* -5.4% 3.9% 0.07%

* Annualized

Return Ranking - Calendar

Period PDSCX Return Category Return Low Category Return High Rank in Category (%)
2019 3.6% -4.3% 18.3% 59.43%
2018 -1.2% -11.7% 4.6% 18.91%
2017 2.8% -6.0% 8.3% 9.36%
2016 -2.4% -7.8% 7.7% 69.08%
2015 0.5% -18.3% 3.0% 3.61%

Total Return Ranking - Trailing

Period PDSCX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.0% -23.6% 195.6% 77.44%
1 Yr -1.2% -22.3% 190.1% 81.29%
3 Yr 0.3%* -7.3% 8.5% 57.12%
5 Yr -0.1%* -6.0% 11.8% 42.92%
10 Yr N/A* -5.4% 6.7% 0.28%

* Annualized

Total Return Ranking - Calendar

Period PDSCX Return Category Return Low Category Return High Rank in Category (%)
2019 3.6% -4.3% 18.3% 60.10%
2018 -1.2% -11.7% 6.5% 26.54%
2017 2.8% -6.0% 10.4% 18.94%
2016 -2.4% -7.8% 10.7% 71.71%
2015 0.5% -12.6% 4.2% 8.00%

NAV & Total Return History


Holdings

PDSCX - Holdings

Concentration Analysis

PDSCX Category Low Category High PDSCX % Rank
Net Assets 188 M 652 K 269 B 76.62%
Number of Holdings 263 1 17723 54.32%
Net Assets in Top 10 24.6 M -216 M 24.5 B 83.83%
Weighting of Top 10 13.24% 2.4% 100.0% 75.90%

Top 10 Holdings

  1. METROPOLITAN TRANSN AUTH N Y REV 4% 1.99%
  2. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5.12% 1.52%
  3. ILLINOIS ST TOLL HWY AUTH TOLL HIGHWAY REV 5% 1.47%
  4. METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV 5% 1.34%
  5. NEW YORK TRANSN DEV CORP SPL FAC REV 5% 1.32%
  6. ARIZONA HEALTH FACS AUTH REV 2.09% 1.31%
  7. TOBACCO SETTLEMENT FING CORP RHODE IS 5% 1.19%
  8. METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV 5% 1.07%
  9. ILLINOIS ST 5% 1.03%
  10. ILLINOIS ST 5% 1.01%

Asset Allocation

Weighting Return Low Return High PDSCX % Rank
Bonds
98.29% 80.16% 159.74% 38.36%
Cash
1.71% -59.74% 19.63% 53.03%
Stocks
0.00% -0.38% 24.73% 11.10%
Preferred Stocks
0.00% 0.00% 7.43% 18.52%
Other
0.00% -4.63% 28.26% 15.60%
Convertible Bonds
0.00% 0.00% 7.24% 46.40%

Bond Sector Breakdown

Weighting Return Low Return High PDSCX % Rank
Municipal
98.29% 0.00% 100.11% 26.19%
Cash & Equivalents
1.71% -29.57% 39.95% 59.19%
Derivative
0.00% -0.83% 31.05% 15.60%
Securitized
0.00% 0.00% 98.30% 54.90%
Corporate
0.00% 0.00% 99.29% 62.50%
Government
0.00% -2.21% 122.41% 59.11%

Bond Geographic Breakdown

Weighting Return Low Return High PDSCX % Rank
US
96.03% 61.81% 156.78% 38.29%
Non US
2.26% -17.15% 26.76% 55.94%

Expenses

PDSCX - Expenses

Operational Fees

PDSCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.84% 0.01% 34.57% 5.30%
Management Fee 0.55% 0.00% 1.10% 93.05%
12b-1 Fee 1.00% 0.00% 1.00% 82.52%
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

PDSCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load 1.00% 0.25% 5.50% 15.89%

Trading Fees

PDSCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

PDSCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 90.00% 0.00% 489.00% 74.88%

Distributions

PDSCX - Distributions

Dividend Yield Analysis

PDSCX Category Low Category High PDSCX % Rank
Dividend Yield 0.00% 0.00% 3.57% 37.03%

Dividend Distribution Analysis

PDSCX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Semi-Annually Monthly Monthly

Net Income Ratio Analysis

PDSCX Category Low Category High PDSCX % Rank
Net Income Ratio 1.46% -0.20% 6.30% 93.01%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

PDSCX - Fund Manager Analysis

Managers

Susan Courtney


Start Date

Tenure

Tenure Rank

May 29, 2014

5.76

5.8%

Susan M. Courtney is Managing Director and Head of PGIM Fixed Income's Municipal Bond Team. She is responsible for developing, directing, and executing investment strategy for all municipal bond assets, including the Prudential municipal bond mutual funds. Ms. Courtney joined Prudential Financial in 2005 from GE Asset Management (GE), where she spent ten years as a municipal bond portfolio manager. Prior to her career at GE, Ms. Courtney was Assistant Vice President of the Global Power Group at Fitch Investors Services, Inc., and a Senior Analyst in the Unit Investment Trust Department of Dean Witter Reynolds. Ms. Courtney earned a BA in Economics from Hartwick College and an MBA in Finance from Fordham University.

Lee Friedman


Start Date

Tenure

Tenure Rank

May 29, 2014

5.76

5.8%

Lee Friedman, CFA, is a Principal and a Portfolio Manager for PGIM Fixed Income’s Municipal Bond Team. Mr. Friedman assists in managing tax-exempt and taxable municipal assets for retail funds, institutional clients, and affiliated accounts. Previously, he was an Associate for PGIM Fixed Income’s Credit Research Group where he covered higher education, not-for-profits (501c3), state and local government obligations, and transportation bonds, and also supported the senior municipal credit analysts. Previously, Mr. Friedman held positions in both Prudential’s Asset Liability and Risk Management Group and PGIM Fixed Income, where he supported the attribution and forecasting processes. Prior to joining the Firm in 2003, Mr. Friedman was an auditor at The Vanguard Group. He received a BS in Finance with High Distinction from Pennsylvania State University. Mr. Friedman holds the Chartered Financial Analyst (CFA) designation.

John Dittemer


Start Date

Tenure

Tenure Rank

May 29, 2014

5.76

5.8%

John Dittemer is Vice President and Portfolio Manager for PGIM Fixed Income’s Municipal Bond Team. Mr. Dittemer assists in managing tax-exempt and taxable municipal assets for retail funds, institutional clients, and affiliated accounts. Previously, as a member of the Portfolio Analysis Group, Mr. Dittemer provided analytical support to Prudential Fixed Income's municipal bond, money market, and affiliated account teams. Earlier, he was a team supervisor in money market operations, and a performance reporting specialist for the affiliated accounts team. Mr. Dittemer received a BS in Management with a concentration in Finance from Kean University, and an MS in Management with concentration in Finance from the New Jersey Institute of Technology.

Robert Tipp


Start Date

Tenure

Tenure Rank

May 29, 2014

5.76

5.8%

Robert Tipp, CFA, is a Managing Director, Chief Investment Strategist, and Head of Global Bonds for PGIM Fixed Income. In addition to comanaging the Global Aggregate Plus strategy, Mr. Tipp is responsible for global rates positioning for Core Plus, Absolute Return, and other portfolios. Mr. Tipp has worked at the Firm since 1991, where he has held a variety of senior investment manager and strategist roles. Prior to joining the Firm, he was a Director in the Portfolio Strategies Group at the First Boston Corporation, where he developed, marketed, and implemented strategic portfolio products for money managers. Before that, Mr. Tipp was a Senior Staff Analyst at the Allstate Research & Planning Center, and managed fixed income and equity derivative strategies at Wells Fargo Investment Advisors. He received a BS in Business Administration and an MBA from the University of California, Berkeley. Mr. Tipp holds the Chartered Financial Analyst (CFA) designation. Named Morningstar’s 2017 Fixed Income Manager of The Year for PGIM Total Return Bond Fund.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 33.27 7.41 0.16