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 16 January 2019
Asset Under Management 25.46 Million (USD)
1 Month Total Return 1.67 %
Year To Date Return 3.57 %
1 Year Total Return
3 Year Annualized Total Return
NAV 39.17
Share Outstanding 650,000
Top 10 Holdings (16 January 2019)
Constituent Name Constituent Ticker Constituent Type Weighting
F/C US ULTRA BOND CBT MAR19 BOND 4.236610637085657e-05
CASH CASH 0.022545524194470725
CALPINE CORP 5.75% 01/15/25 BOND 0.015590388215624251
DISH DBS CORP 7.75% 07/01/26 BOND 0.014219006767089929
UNITED RENTALS 4.875% 01/15/28 BOND 0.013933741650859494
BOMBARDIER INC 7.5% 12/01/24 BOND 0.013663069304601243
WIND TRE SPA 5% 01/20/26 BOND 0.012638280264941747
SPRINT CAPITAL 8.75% 03/15/32 BOND 0.012413269166660976
STARFRUIT FINCO/STAR US BOND 0.011043431727336612