PGIM Muni High Income Fund
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
6.7%
1 yr return
9.0%
3 Yr Avg Return
-0.1%
5 Yr Avg Return
1.4%
Net Assets
$840 M
Holdings in Top 10
14.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.84%
SALES FEES
Front Load 3.25%
Deferred Load N/A
TRADING FEES
Turnover 7.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
PRHAX - Profile
Distributions
- YTD Total Return 6.7%
- 3 Yr Annualized Total Return -0.1%
- 5 Yr Annualized Total Return 1.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.91%
- Dividend Yield 3.9%
- Dividend Distribution Frequency None
Fund Details
-
Legal NamePGIM Muni High Income Fund
-
Fund Family NamePrudential
-
Inception DateJan 03, 1994
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Tipp
Fund Description
PRHAX - Performance
Return Ranking - Trailing
Period | PRHAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 6.7% | -1.1% | 13.4% | 51.49% |
1 Yr | 9.0% | 0.1% | 18.4% | 58.42% |
3 Yr | -0.1%* | -8.2% | 3.3% | 28.43% |
5 Yr | 1.4%* | -4.8% | 3.9% | 52.82% |
10 Yr | 2.9%* | -0.4% | 155.8% | 52.76% |
* Annualized
Return Ranking - Calendar
Period | PRHAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.8% | -6.2% | 7.5% | 8.37% |
2022 | -16.7% | -26.9% | -3.5% | 44.50% |
2021 | 1.3% | -1.9% | 5.6% | 72.59% |
2020 | 1.0% | -4.0% | 4.2% | 33.16% |
2019 | 5.0% | -0.7% | 9.1% | 60.53% |
Total Return Ranking - Trailing
Period | PRHAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 6.7% | -1.1% | 13.4% | 51.49% |
1 Yr | 9.0% | 0.1% | 18.4% | 58.42% |
3 Yr | -0.1%* | -8.2% | 3.3% | 28.43% |
5 Yr | 1.4%* | -4.8% | 3.9% | 52.82% |
10 Yr | 2.9%* | -0.4% | 155.8% | 52.76% |
* Annualized
Total Return Ranking - Calendar
Period | PRHAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 9.1% | -4.1% | 10.9% | 11.82% |
2022 | -13.7% | -26.9% | 4.3% | 48.50% |
2021 | 4.6% | -1.9% | 10.0% | 69.04% |
2020 | 3.3% | -2.6% | 8.2% | 57.65% |
2019 | 8.7% | -0.7% | 1028633.9% | 49.47% |
NAV & Total Return History
PRHAX - Holdings
Concentration Analysis
PRHAX | Category Low | Category High | PRHAX % Rank | |
---|---|---|---|---|
Net Assets | 840 M | 9.79 K | 15.6 B | 52.24% |
Number of Holdings | 414 | 1 | 3325 | 50.50% |
Net Assets in Top 10 | 114 M | -102 M | 1.96 B | 55.50% |
Weighting of Top 10 | 14.15% | 4.6% | 98.9% | 39.70% |
Top 10 Holdings
- Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 2.98%
- Tennessee Energy Acquisition Corp 1.94%
- VanEck High Yield Muni ETF 1.37%
- Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 1.32%
- Buckeye Tobacco Settlement Financing Authority 1.30%
- Commonwealth of Puerto Rico 1.21%
- iShares National Muni Bond ETF 1.09%
- Commonwealth of Puerto Rico 1.05%
- PGIM Core Ultra Short Bond Fund 0.97%
- Public Authority for Colorado Energy 0.92%
Asset Allocation
Weighting | Return Low | Return High | PRHAX % Rank | |
---|---|---|---|---|
Bonds | 96.69% | 0.00% | 146.69% | 74.38% |
Stocks | 2.46% | 0.00% | 99.72% | 5.42% |
Cash | 0.97% | -0.64% | 100.00% | 38.00% |
Other | 0.02% | -5.67% | 5.07% | 15.50% |
Preferred Stocks | 0.00% | -47.61% | 0.00% | 77.50% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 76.00% |
Stock Sector Breakdown
Weighting | Return Low | Return High | PRHAX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 0.00% | N/A |
Technology | 0.00% | 0.00% | 0.00% | N/A |
Real Estate | 0.00% | 0.00% | 0.00% | N/A |
Industrials | 0.00% | 0.00% | 4.78% | N/A |
Healthcare | 0.00% | 0.00% | 0.00% | N/A |
Financial Services | 0.00% | 0.00% | 0.00% | N/A |
Energy | 0.00% | 0.00% | 0.00% | N/A |
Communication Services | 0.00% | 0.00% | 0.00% | N/A |
Consumer Defense | 0.00% | 0.00% | 0.00% | N/A |
Consumer Cyclical | 0.00% | 0.00% | 77.65% | N/A |
Basic Materials | 0.00% | 17.58% | 100.00% | N/A |
Stock Geographic Breakdown
Weighting | Return Low | Return High | PRHAX % Rank | |
---|---|---|---|---|
US | 2.46% | 0.00% | 99.72% | 5.50% |
Non US | 0.00% | 0.00% | 0.00% | 76.00% |
Bond Sector Breakdown
Weighting | Return Low | Return High | PRHAX % Rank | |
---|---|---|---|---|
Municipal | 99.47% | 0.00% | 100.00% | 26.50% |
Cash & Equivalents | 0.97% | 0.00% | 100.00% | 25.00% |
Derivative | 0.02% | -7.70% | 2.16% | 10.00% |
Government | 0.01% | 0.00% | 0.09% | 4.00% |
Securitized | 0.00% | 0.00% | 22.44% | 76.00% |
Corporate | 0.00% | 0.00% | 2.83% | 88.50% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | PRHAX % Rank | |
---|---|---|---|---|
US | 96.69% | 0.00% | 139.84% | 71.50% |
Non US | 0.00% | 0.00% | 13.35% | 77.50% |
PRHAX - Expenses
Operational Fees
PRHAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.84% | 0.22% | 3.44% | 58.42% |
Management Fee | 0.49% | 0.00% | 1.41% | 49.26% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 54.63% |
Administrative Fee | N/A | 0.02% | 0.35% | N/A |
Sales Fees
PRHAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 3.25% | 1.00% | 4.50% | 65.12% |
Deferred Load | N/A | 1.00% | 4.00% | 92.86% |
Trading Fees
PRHAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
PRHAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 7.00% | 2.00% | 121.00% | 3.19% |
PRHAX - Distributions
Dividend Yield Analysis
PRHAX | Category Low | Category High | PRHAX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.86% | 0.00% | 5.94% | 67.00% |
Dividend Distribution Analysis
PRHAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
PRHAX | Category Low | Category High | PRHAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.91% | 1.11% | 5.44% | 65.52% |
Capital Gain Distribution Analysis
PRHAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Oct 31, 2024 | $0.031 | OrdinaryDividend |
Sep 30, 2024 | $0.030 | OrdinaryDividend |
Aug 30, 2024 | $0.032 | OrdinaryDividend |
Jul 31, 2024 | $0.033 | OrdinaryDividend |
Apr 30, 2024 | $0.029 | OrdinaryDividend |
Mar 28, 2024 | $0.030 | OrdinaryDividend |
Feb 29, 2024 | $0.028 | OrdinaryDividend |
Jan 31, 2024 | $0.029 | OrdinaryDividend |
Dec 29, 2023 | $0.030 | OrdinaryDividend |
Nov 30, 2023 | $0.028 | OrdinaryDividend |
Oct 31, 2023 | $0.030 | OrdinaryDividend |
Sep 29, 2023 | $0.028 | OrdinaryDividend |
Aug 31, 2023 | $0.029 | OrdinaryDividend |
Jul 31, 2023 | $0.028 | OrdinaryDividend |
Jun 30, 2023 | $0.027 | OrdinaryDividend |
May 31, 2023 | $0.028 | OrdinaryDividend |
Apr 28, 2023 | $0.027 | OrdinaryDividend |
Mar 31, 2023 | $0.028 | OrdinaryDividend |
Feb 28, 2023 | $0.025 | OrdinaryDividend |
Jan 31, 2023 | $0.027 | OrdinaryDividend |
Dec 30, 2022 | $0.028 | OrdinaryDividend |
Nov 30, 2022 | $0.027 | OrdinaryDividend |
Oct 31, 2022 | $0.027 | OrdinaryDividend |
Sep 30, 2022 | $0.026 | OrdinaryDividend |
Aug 31, 2022 | $0.026 | OrdinaryDividend |
Jul 29, 2022 | $0.026 | OrdinaryDividend |
Jun 30, 2022 | $0.026 | OrdinaryDividend |
May 31, 2022 | $0.027 | OrdinaryDividend |
Apr 29, 2022 | $0.029 | OrdinaryDividend |
Mar 31, 2022 | $0.026 | OrdinaryDividend |
Feb 28, 2022 | $0.023 | OrdinaryDividend |
Jan 31, 2022 | $0.023 | OrdinaryDividend |
Dec 31, 2021 | $0.027 | OrdinaryDividend |
Nov 30, 2021 | $0.026 | OrdinaryDividend |
Oct 29, 2021 | $0.027 | OrdinaryDividend |
Sep 30, 2021 | $0.025 | OrdinaryDividend |
Aug 31, 2021 | $0.026 | OrdinaryDividend |
Jul 30, 2021 | $0.026 | OrdinaryDividend |
Jun 30, 2021 | $0.026 | OrdinaryDividend |
May 28, 2021 | $0.027 | OrdinaryDividend |
Apr 30, 2021 | $0.027 | OrdinaryDividend |
Mar 31, 2021 | $0.028 | OrdinaryDividend |
Feb 26, 2021 | $0.025 | OrdinaryDividend |
Jan 29, 2021 | $0.029 | OrdinaryDividend |
Dec 31, 2020 | $0.029 | OrdinaryDividend |
Nov 30, 2020 | $0.028 | OrdinaryDividend |
Nov 27, 2020 | $0.007 | OrdinaryDividend |
Oct 30, 2020 | $0.027 | OrdinaryDividend |
Sep 30, 2020 | $0.029 | OrdinaryDividend |
Aug 31, 2020 | $0.030 | OrdinaryDividend |
Jul 31, 2020 | $0.030 | OrdinaryDividend |
Feb 28, 2020 | $0.029 | OrdinaryDividend |
Dec 31, 2019 | $0.030 | OrdinaryDividend |
Nov 29, 2019 | $0.004 | Extra |
Oct 31, 2019 | $0.035 | OrdinaryDividend |
Sep 30, 2019 | $0.029 | OrdinaryDividend |
Aug 30, 2019 | $0.034 | OrdinaryDividend |
Jul 31, 2019 | $0.034 | OrdinaryDividend |
Nov 30, 2018 | $0.011 | DailyAccrualFund |
Nov 30, 2017 | $0.011 | DailyAccrualFund |
Nov 30, 2016 | $0.002 | ExtraDividend |
Nov 30, 2015 | $0.001 | ExtraDividend |
Nov 26, 2014 | $0.016 | ExtraDividend |
Nov 27, 2013 | $0.003 | ExtraDividend |
Nov 29, 2012 | $0.010 | ExtraDividend |
Nov 29, 2011 | $0.007 | ExtraDividend |
PRHAX - Fund Manager Analysis
Managers
Robert Tipp
Start Date
Tenure
Tenure Rank
Nov 30, 2004
17.51
17.5%
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.
Lee Friedman
Start Date
Tenure
Tenure Rank
Mar 05, 2014
8.24
8.2%
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
Mar 05, 2014
8.24
8.2%
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.
Jason Appleson
Start Date
Tenure
Tenure Rank
Nov 18, 2021
0.53
0.5%
Mr. Appleson serves as a member of the PT Asset Management, LLC's portfolio management team, and is co-portfolio manager of select separately managed accounts. Mr. Appleson is responsible for the portfolio construction, management, trading, research, and risk management of these municipal bond accounts. Prior to joiningPT Asset Management, LLC in July 2013, Mr. Appleson worked for the New York Federal Reserve Bank. At the Federal Reserve, Mr. Appleson built and evaluated macroeconomic models to stress test banks’ investment portfolios and advised policy and supervision groups on various regulatory issues. From 2008 to 2012, Mr. Appleson worked for Alliance Bernstein, where he held a number of positions in fixed income, including a High Yield Research Analyst for its $30B municipal bond platform. Mr. Appleson earned his Bachelor of Science degree in Finance from Touro College and received his MBA from University of Chicago’s Booth School of Business with high honors. Mr. Appleson is also a CFA® charter holder and a certified FRM®.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.25 | 21.43 | 7.56 | 2.52 |