Fund Description
The Fund seeks to achieve its investment objective by investing primarily in a portfolio of high yield bonds (commonly referred to as junk bonds) of companies or governments. Under normal market conditions, the Fund invests at least 80% of its investable assets in a diversified portfolio of high yield bonds that are below investment grade 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 (Moody s), BB+ or lower by S&P Global Ratings (S& P) or Fitch, Inc. (Fitch), or comparably rated by another nationally recognized statistical rating organization (NRSRO), or, if unrated, considered by the Subadviser to be of comparable quality. The term investable assets refers to the Funds net assets plus any borrowings for investment purposes. The Funds 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 is an actively managed exchange traded fund (ETF) and, thus, does not seek to replicate the performance of a specified index.
Fund Profile
Fund Name PGIM Active High Yield Bond ETF
Fund Exchange Ticker PHYL
Fund Sponsor PGIM Investments
Fund ISIN US69344A2069
Net Expense Ratio 0.53 %
Fund Inception Date 27 September 2018
Fund Legal Structure ETF (Open end fund)
Exchange NYSE Arca
Listing Country Code US
Fund Investment Objective
ETF Type Specific Bonds - Broad Market
Asset Class Bonds
Index Linked Active
Index Name Not Applicable
Index Provider Not Applicable
Currency Hedged No
Inverse / Leveraged Not Applicable
Developed / Emerging Developed Market Funds
Bond Type Broad Market
Credit Quality High Yield
Average Maturity Fund Holds All Maturity Ranges
Bond Currency Denomination USD
Key Statistics
Return As of Date 22 March 2019
Asset Under Management 27.13 Million (USD)
1 Month Total Return 1.08 %
Year To Date Return 6.90 %
1 Year Total Return
3 Year Annualized Total Return
NAV 40.19
Share Outstanding 675,000
Top 10 Holdings (22 March 2019)
Constituent Name Constituent Ticker Constituent Type Weighting
F/C US 5YR NOTE (CBT) JUN19 BOND 4.042773488117875e-05
CASH CASH 0.018101624049481235
CALPINE CORP 5.75% 01/15/25 BOND 0.017805930140391748
HCA INC 5.375% 09/01/26 BOND 0.014079499684874158
BOMBARDIER INC 7.5% 12/01/24 BOND 0.013961467950988984
UNITED RENTALS 4.875% 01/15/28 BOND 0.01392099992794264
DISH DBS CORP 7.75% 07/01/26 BOND 0.01384905677586025
WIND TRE SPA 5% 01/20/26 BOND 0.01288142138035209
SPRINT CAPITAL 8.75% 03/15/32 BOND 0.011438961181100153
STARFRUIT FINCO/STAR US BOND 0.010791472812358635