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PGIM HIGH YIELD FUND
mutual fund
PHYGX
Payout Change
Pending
Price as of:
$4.77
-0.01
-0.21%
primary theme
High Yield Bond
share class
PHYGX (Mutual Fund)
PGIM HIGH YIELD FUND
Payout Change
Pending
Price as of:
$4.77
-0.01
-0.21%
primary theme
High Yield Bond
share class
PHYGX (Mutual Fund)
PGIM HIGH YIELD FUND
Payout Change
Pending
Price as of:
$4.77
-0.01
-0.21%
primary theme
High Yield Bond
share class
Name
As of 01/10/2025Price
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
Vitals
YTD Return
0.7%
1 yr return
8.8%
3 Yr Avg Return
2.4%
5 Yr Avg Return
3.6%
Net Assets
$18.3 B
Holdings in Top 10
9.3%
52 WEEK LOW AND HIGH
$4.8
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.67%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 56.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 01/10/2025Price
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
PHYGX - Profile
Distributions
- YTD Total Return 0.7%
- 3 Yr Annualized Total Return 2.4%
- 5 Yr Annualized Total Return 3.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 5.05%
- Dividend Yield 8.2%
- Dividend Distribution Frequency None
Fund Details
-
Legal NamePGIM HIGH YIELD FUND
-
Fund Family NamePrudential
-
Inception DateDec 27, 2017
-
Shares OutstandingN/A
-
Share ClassR4
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Spano
Fund Description
To achieve the Fund's income objective, the Fund invests, under normal circumstances, at least 80% of 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’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 orcountry.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 marketconditions.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 or overvalued.
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PHYGX - Performance
Return Ranking - Trailing
| Period | PHYGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.7% | -1.8% | 1.7% | 2.64% |
| 1 Yr | 8.8% | -9.4% | 18.9% | 15.02% |
| 3 Yr | 2.4%* | -14.7% | 21.3% | 55.28% |
| 5 Yr | 3.6%* | -12.2% | 36.6% | 38.10% |
| 10 Yr | N/A* | -4.9% | 20.2% | 12.43% |
* Annualized
Return Ranking - Calendar
| Period | PHYGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2024 | 0.6% | -9.4% | 11.8% | 58.75% |
| 2023 | 4.2% | -25.4% | 12.2% | 72.56% |
| 2022 | -17.1% | -33.4% | 3.6% | 75.42% |
| 2021 | -0.4% | -8.4% | 8.2% | 65.80% |
| 2020 | -1.3% | -13.2% | 302.7% | 73.57% |
Total Return Ranking - Trailing
| Period | PHYGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.7% | -1.8% | 1.7% | 2.64% |
| 1 Yr | 8.8% | -9.4% | 18.9% | 15.02% |
| 3 Yr | 2.4%* | -14.7% | 21.3% | 55.28% |
| 5 Yr | 3.6%* | -12.2% | 36.6% | 38.10% |
| 10 Yr | N/A* | -4.9% | 20.2% | 12.71% |
* Annualized
Total Return Ranking - Calendar
| Period | PHYGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2024 | 8.8% | -9.4% | 18.9% | 29.54% |
| 2023 | 12.4% | -12.7% | 18.7% | 41.82% |
| 2022 | -11.2% | -33.4% | 47.8% | 64.21% |
| 2021 | 6.7% | -8.4% | 12.4% | 19.79% |
| 2020 | 6.0% | -9.6% | 325.6% | 38.39% |
NAV & Total Return History
PHYGX - Holdings
Concentration Analysis
| PHYGX | Category Low | Category High | PHYGX % Rank | |
|---|---|---|---|---|
| Net Assets | 18.3 B | 3.13 M | 25.3 B | 5.11% |
| Number of Holdings | 792 | 2 | 3879 | 14.74% |
| Net Assets in Top 10 | 1.78 B | -492 M | 5.25 B | 5.63% |
| Weighting of Top 10 | 9.34% | 4.2% | 143.3% | 81.46% |
Top 10 Holdings
- United States Treasury Note/Bond 1.58%
- PGIM Core Short-Term Bond Fund 1.15%
- Medline Borrower LP 0.92%
- United States Treasury Note/Bond 0.90%
- Calpine Corp 0.86%
- PGIM Ultra Short Bond ETF 0.85%
- (PIPA070) PGIM Core Government Money Market Fund 0.81%
- United States Treasury Note/Bond 0.79%
- United States Treasury Note/Bond 0.78%
- FERRELLGAS ESCROW LLC 3/30/31 Equity Preferred 0.70%
Asset Allocation
| Weighting | Return Low | Return High | PHYGX % Rank | |
|---|---|---|---|---|
| Bonds | 93.75% | 0.00% | 145.36% | 67.87% |
| Stocks | 4.22% | 0.00% | 97.54% | 13.51% |
| Cash | 1.29% | -52.00% | 93.65% | 86.75% |
| Preferred Stocks | 0.70% | 0.00% | 4.00% | 13.08% |
| Convertible Bonds | 0.40% | 0.00% | 17.89% | 82.95% |
| Other | 0.04% | -39.08% | 99.86% | 38.58% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PHYGX % Rank | |
|---|---|---|---|---|
| Energy | 97.97% | 0.00% | 100.00% | 10.42% |
| Utilities | 1.32% | 0.00% | 100.00% | 25.30% |
| Consumer Cyclical | 0.71% | 0.00% | 100.00% | 35.12% |
| Technology | 0.00% | 0.00% | 33.17% | 60.71% |
| Real Estate | 0.00% | 0.00% | 86.71% | 55.95% |
| Industrials | 0.00% | 0.00% | 93.12% | 61.31% |
| Healthcare | 0.00% | 0.00% | 22.17% | 54.17% |
| Financial Services | 0.00% | 0.00% | 100.00% | 59.82% |
| Communication Services | 0.00% | 0.00% | 99.99% | 73.51% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 54.17% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 59.23% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PHYGX % Rank | |
|---|---|---|---|---|
| US | 4.22% | 0.00% | 97.54% | 13.58% |
| Non US | 0.00% | -0.01% | 2.00% | 54.14% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | PHYGX % Rank | |
|---|---|---|---|---|
| Corporate | 91.98% | 0.00% | 100.00% | 73.63% |
| Government | 1.01% | 0.00% | 99.07% | 15.75% |
| Securitized | 0.93% | 0.00% | 97.24% | 24.38% |
| Cash & Equivalents | 0.81% | 0.00% | 47.28% | 79.30% |
| Derivative | 0.04% | -14.58% | 42.26% | 22.02% |
| Municipal | 0.00% | 0.00% | 1.17% | 44.94% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | PHYGX % Rank | |
|---|---|---|---|---|
| US | 92.82% | 0.00% | 126.57% | 54.14% |
| Non US | 0.93% | 0.00% | 97.54% | 33.28% |
PHYGX - Expenses
Operational Fees
| PHYGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.67% | 0.02% | 38.33% | 79.34% |
| Management Fee | 0.36% | 0.00% | 1.75% | 10.73% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
| PHYGX 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
| PHYGX 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.
| PHYGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 56.00% | 1.00% | 255.00% | 35.80% |
PHYGX - Distributions
Dividend Yield Analysis
| PHYGX | Category Low | Category High | PHYGX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 8.23% | 0.00% | 11.76% | 13.98% |
Dividend Distribution Analysis
| PHYGX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| PHYGX | Category Low | Category High | PHYGX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 5.05% | -2.39% | 9.30% | 18.72% |
Capital Gain Distribution Analysis
| PHYGX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 31, 2024 | $0.033 | OrdinaryDividend |
| Dec 20, 2024 | $0.013 | OrdinaryDividend |
| Nov 29, 2024 | $0.027 | OrdinaryDividend |
| Oct 31, 2024 | $0.028 | OrdinaryDividend |
| Sep 30, 2024 | $0.027 | OrdinaryDividend |
| Aug 30, 2024 | $0.027 | OrdinaryDividend |
| Jul 31, 2024 | $0.028 | OrdinaryDividend |
| Apr 30, 2024 | $0.027 | OrdinaryDividend |
| Mar 28, 2024 | $0.029 | OrdinaryDividend |
| Feb 29, 2024 | $0.027 | OrdinaryDividend |
| Jan 31, 2024 | $0.028 | OrdinaryDividend |
| Dec 29, 2023 | $0.026 | OrdinaryDividend |
| Dec 21, 2023 | $0.023 | OrdinaryDividend |
| Nov 30, 2023 | $0.027 | OrdinaryDividend |
| Oct 31, 2023 | $0.022 | OrdinaryDividend |
| Sep 29, 2023 | $0.022 | OrdinaryDividend |
| Aug 31, 2023 | $0.027 | OrdinaryDividend |
| Jul 31, 2023 | $0.026 | OrdinaryDividend |
| Jun 30, 2023 | $0.025 | OrdinaryDividend |
| May 31, 2023 | $0.027 | OrdinaryDividend |
| Apr 28, 2023 | $0.026 | OrdinaryDividend |
| Mar 31, 2023 | $0.023 | OrdinaryDividend |
| Feb 28, 2023 | $0.025 | OrdinaryDividend |
| Jan 31, 2023 | $0.027 | OrdinaryDividend |
| Dec 30, 2022 | $0.028 | OrdinaryDividend |
| Dec 22, 2022 | $0.011 | OrdinaryDividend |
| Nov 30, 2022 | $0.026 | OrdinaryDividend |
| Oct 31, 2022 | $0.026 | OrdinaryDividend |
| Sep 30, 2022 | $0.026 | OrdinaryDividend |
| Aug 31, 2022 | $0.028 | OrdinaryDividend |
| Jul 29, 2022 | $0.022 | OrdinaryDividend |
| Jun 30, 2022 | $0.025 | OrdinaryDividend |
| May 31, 2022 | $0.026 | OrdinaryDividend |
| Apr 29, 2022 | $0.022 | OrdinaryDividend |
| Mar 31, 2022 | $0.025 | OrdinaryDividend |
| Feb 28, 2022 | $0.022 | OrdinaryDividend |
| Jan 31, 2022 | $0.023 | OrdinaryDividend |
| Dec 31, 2021 | $0.023 | OrdinaryDividend |
| Dec 30, 2021 | $0.054 | CapitalGainShortTerm |
| Dec 30, 2021 | $0.006 | CapitalGainLongTerm |
| Dec 23, 2021 | $0.002 | OrdinaryDividend |
| Nov 30, 2021 | $0.023 | OrdinaryDividend |
| Oct 29, 2021 | $0.023 | OrdinaryDividend |
| Sep 30, 2021 | $0.023 | OrdinaryDividend |
| Aug 31, 2021 | $0.024 | OrdinaryDividend |
| Jul 30, 2021 | $0.024 | OrdinaryDividend |
| Jun 30, 2021 | $0.024 | OrdinaryDividend |
| May 28, 2021 | $0.025 | OrdinaryDividend |
| Apr 30, 2021 | $0.025 | OrdinaryDividend |
| Mar 31, 2021 | $0.027 | OrdinaryDividend |
| Feb 26, 2021 | $0.024 | OrdinaryDividend |
| Jan 29, 2021 | $0.026 | OrdinaryDividend |
| Dec 31, 2020 | $0.025 | OrdinaryDividend |
| Dec 30, 2020 | $0.025 | CapitalGainShortTerm |
| Dec 23, 2020 | $0.004 | OrdinaryDividend |
| Nov 30, 2020 | $0.026 | OrdinaryDividend |
| Oct 30, 2020 | $0.026 | OrdinaryDividend |
| Sep 30, 2020 | $0.026 | OrdinaryDividend |
| Aug 31, 2020 | $0.026 | OrdinaryDividend |
| Jul 31, 2020 | $0.026 | OrdinaryDividend |
| Jun 30, 2020 | $0.025 | OrdinaryDividend |
| May 29, 2020 | $0.028 | OrdinaryDividend |
| Apr 30, 2020 | $0.026 | OrdinaryDividend |
| Mar 31, 2020 | $0.029 | OrdinaryDividend |
| Feb 28, 2020 | $0.026 | OrdinaryDividend |
| Jan 31, 2020 | $0.029 | OrdinaryDividend |
| Dec 31, 2019 | $0.028 | OrdinaryDividend |
| Nov 29, 2019 | $0.028 | OrdinaryDividend |
| Oct 31, 2019 | $0.028 | OrdinaryDividend |
| Sep 30, 2019 | $0.024 | OrdinaryDividend |
| Aug 30, 2019 | $0.031 | OrdinaryDividend |
| Jul 31, 2019 | $0.029 | OrdinaryDividend |
PHYGX - 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 | 7.33 | 8.17 |
