HYSZX: PGIM Short Duration High Yield Income Fund - MutualFunds.com

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PGIM Short Duration High Yield Income Z

HYSZX - Snapshot

Vitals

  • YTD Return -2.1%
  • 3 Yr Annualized Return 4.2%
  • 5 Yr Annualized Return 4.7%
  • Net Assets $3.34 B
  • Holdings in Top 10 10.6%

52 WEEK LOW AND HIGH

$8.86
$7.33
$9.05

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.83%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 65.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification

  • Primary Theme
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Bond

Compare HYSZX to Popular High Yield Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$5.93

0.00%

$27.58 B

4.78%

$0.28

-0.50%

-

$7.69

0.00%

$25.49 B

4.81%

$0.37

-1.03%

-

$86.41

+0.16%

$23.82 B

4.89%

$4.22

-1.74%

-

$5.45

0.00%

$20.11 B

5.29%

$0.29

-2.33%

-

$9.99

+0.10%

$16.76 B

5.69%

$0.57

-0.89%

-

HYSZX - Profile

Distributions

  • YTD Total Return -2.1%
  • 3 Yr Annualized Total Return 4.2%
  • 5 Yr Annualized Total Return 4.7%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 5.14%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    PGIM Short Duration High Yield Income Fund
  • Fund Family Name
    PGIM Funds (Prudential)
  • Inception Date
    Oct 26, 2012
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Robert Spano

Fund Description

Under normal market conditions, the fund will invest at least 80% of its investable assets in a diversified portfolio of high yield fixed income instruments that are below investment grade with varying maturities and other investments (including derivatives) with similar economic characteristics.


HYSZX - Performance

Return Ranking - Trailing

Period HYSZX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.1% -48.2% 392.8% 63.83%
1 Yr 2.2% -54.3% 9.9% 44.60%
3 Yr 4.2%* -21.8% 8.3% 11.59%
5 Yr 4.7%* -0.9% 9.0% 60.43%
10 Yr N/A* 0.7% 9.2% N/A

* Annualized

Return Ranking - Calendar

Period HYSZX Return Category Return Low Category Return High Rank in Category (%)
2019 5.6% -10.3% 226.1% 76.08%
2018 -4.5% -18.4% -0.2% 6.09%
2017 -1.0% -9.5% 18.8% 94.50%
2016 1.3% -9.1% 28.6% 97.86%
2015 -5.1% -34.3% 3.5% 8.86%

Total Return Ranking - Trailing

Period HYSZX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.1% -48.2% 392.8% 63.83%
1 Yr 2.2% -54.3% 9.9% 35.83%
3 Yr 4.2%* -21.8% 8.3% 10.58%
5 Yr 4.7%* -1.1% 9.0% 52.09%
10 Yr N/A* 0.7% 9.2% N/A

* Annualized

Total Return Ranking - Calendar

Period HYSZX Return Category Return Low Category Return High Rank in Category (%)
2019 5.6% -8.1% 23.9% 76.80%
2018 -4.5% -18.4% 1.3% 20.85%
2017 -1.0% -8.5% 18.8% 96.83%
2016 1.5% -9.1% 39.0% 98.04%
2015 -4.9% -32.4% 3.5% 20.04%

NAV & Total Return History


HYSZX - Holdings

Concentration Analysis

HYSZX Category Low Category High HYSZX % Rank
Net Assets 3.34 B 3.33 M 27.6 B 16.78%
Number of Holdings 454 1 2239 33.65%
Net Assets in Top 10 353 M -492 M 2.87 B 17.64%
Weighting of Top 10 10.57% 3.4% 100.0% 61.52%

Top 10 Holdings

  1. Bausch Health Companies Inc 6.12% 1.42%
  2. CSC Holdings, LLC 5.5% 1.36%
  3. Clear Channel Worldwide Holdings Inc. 9.25% 1.13%
  4. Ford Motor Company 9% 1.11%
  5. The Chemours Company LLC 6.62% 1.04%
  6. Ascent Resources Utica Holdings LLC / ARU Finance Corp 10% 0.95%
  7. U.S. Concrete, Inc. 6.38% 0.94%
  8. Level 3 Financing, Inc. 5.38% 0.92%
  9. T-Mobile US, Inc. 7.88% 0.92%
  10. Bombardier Inc. 8.75% 0.77%

Asset Allocation

Weighting Return Low Return High HYSZX % Rank
Bonds
95.81% 0.00% 141.18% 36.50%
Cash
3.19% -48.94% 100.00% 50.20%
Convertible Bonds
0.78% 0.00% 19.96% 48.71%
Stocks
0.22% -28.46% 28.23% 43.01%
Preferred Stocks
0.00% 0.00% 7.97% 92.67%
Other
0.00% -2.78% 58.14% 92.81%

Stock Sector Breakdown

Weighting Return Low Return High HYSZX % Rank
Utilities
97.53% 0.00% 99.51% 1.53%
Communication Services
2.46% 0.00% 100.00% 36.76%
Industrials
0.01% 0.00% 100.00% 35.45%
Technology
0.00% 0.00% 46.47% 88.84%
Real Estate
0.00% 0.00% 100.00% 89.50%
Healthcare
0.00% 0.00% 100.00% 90.15%
Financial Services
0.00% 0.00% 100.00% 89.50%
Energy
0.00% 0.00% 100.00% 96.94%
Consumer Defense
0.00% 0.00% 52.26% 88.84%
Consumer Cyclical
0.00% 0.00% 100.00% 93.00%
Basic Materials
0.00% 0.00% 100.00% 90.59%

Stock Geographic Breakdown

Weighting Return Low Return High HYSZX % Rank
US
0.22% -28.07% 19.67% 42.33%
Non US
0.00% -0.39% 13.32% 89.28%

Bond Sector Breakdown

Weighting Return Low Return High HYSZX % Rank
Corporate
95.50% 0.00% 100.00% 52.04%
Cash & Equivalents
3.28% 0.00% 100.00% 56.52%
Securitized
1.06% 0.00% 95.38% 17.93%
Derivative
0.14% 0.00% 51.02% 17.39%
Government
0.02% 0.00% 74.11% 38.18%
Municipal
0.00% 0.00% 16.25% 87.64%

Bond Geographic Breakdown

Weighting Return Low Return High HYSZX % Rank
US
83.77% 0.00% 127.79% 29.72%
Non US
12.04% -27.40% 96.73% 62.28%

HYSZX - Expenses

Operational Fees

HYSZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.83% 0.04% 20.17% 66.81%
Management Fee 0.69% 0.00% 1.84% 80.22%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

HYSZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

HYSZX 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.

HYSZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 65.00% 1.00% 349.00% 64.89%

HYSZX - Distributions

Dividend Yield Analysis

HYSZX Category Low Category High HYSZX % Rank
Dividend Yield 0.00% 0.00% 6.07% 87.57%

Dividend Distribution Analysis

HYSZX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

HYSZX Category Low Category High HYSZX % Rank
Net Income Ratio 5.14% -0.81% 10.03% 51.93%

Capital Gain Distribution Analysis

HYSZX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Dividend Payout History

View More +

HYSZX - Fund Manager Analysis

Managers

Robert Spano


Start Date

Tenure

Tenure Rank

Oct 26, 2012

8.02

8.0%

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

Oct 26, 2012

8.02

8.0%

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.

Daniel Thorogood


Start Date

Tenure

Tenure Rank

Oct 26, 2012

8.02

8.0%

Daniel Thorogood, CFA, is a Principal and a high yield portfolio manager for PGIM Fixed Income’s High Yield Team. Mr. Thorogood is also responsible for portfolio strategy and managing high yield bond allocations in multi-sector portfolios. Prior to joining the High Yield Team, Mr. Thorogood was a member of PGIM Fixed Income’s Quantitative Research and Risk Management Group. Mr. Thorogood was the head of a team of portfolio analysts who support the firm's credit-related strategies, including investment grade corporate, high yield corporate, and emerging market debt sectors. The team was primarily responsible for performing detailed portfolio analysis relative to benchmarks, monitoring portfolio risk exposures, and analyzing performance through proprietary return attribution models. Prior to joining the Quantitative Research and Risk Management Group in 1996, Mr. Thorogood was Associate Manager in PGIM Fixed Income's Trade Support and Operations Unit. He received a BS in Finance from Florida State University and an MBA in Finance from Rutgers University. Mr. Thorogood holds the Chartered Financial Analyst (CFA) designation.

Brian Clapp


Start Date

Tenure

Tenure Rank

May 31, 2013

7.42

7.4%

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

6.66

6.7%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 36.21 6.49 1.34
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