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Trending ETFs

Name

As of 06/20/2024

Price

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

$9.88

$24.1 M

3.40%

$0.34

46.23%

Vitals

YTD Return

0.6%

1 yr return

5.4%

3 Yr Avg Return

-3.2%

5 Yr Avg Return

0.3%

Net Assets

$24.1 M

Holdings in Top 10

13.9%

52 WEEK LOW AND HIGH

$9.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 46.23%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 61.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/20/2024

Price

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

$9.88

$24.1 M

3.40%

$0.34

46.23%

PCWRX - Profile

Distributions

  • YTD Total Return 0.6%
  • 3 Yr Annualized Total Return -3.2%
  • 5 Yr Annualized Total Return 0.3%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.93%
DIVIDENDS
  • Dividend Yield 3.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    PGIM CORPORATE BOND FUND
  • Fund Family Name
    PRUDENTIAL
  • Inception Date
    May 28, 2015
  • Shares Outstanding
    N/A
  • Share Class
    R
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Terence Wheat

Fund Description

The Fund normally invests at least 80% of its investable assets in bonds of corporations with varying maturities. For purposes of this policy, bonds include all fixed income securities, adjustable rate securities and floating rate securities, other than preferred stock, and also include other investments (including derivatives) with similar economic characteristics, and corporations include all private issuers. Although the Fund may invest in bonds of any maturity, under normal market conditions the Fund generally will maintain an effective duration approximately equal to the duration of the Fund’s benchmark, the Bloomberg US Credit Index, plus or minus one year. A debt security's “maturity” is the date on which the security matures and the issuer is obligated to repay principal. Duration is not necessarily equal to average maturity. Duration differs from maturity in that it considers a security's yield, coupon payments, principal payments and call features in addition to the amount of time until the security finally matures. As the value of a security changes over time, so will its duration. 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 in asset-backed securities and mortgage-related securities, dollar-denominated obligations issued in the U.S. by foreign corporations and governments, including those in emerging markets (Yankee obligations), and debt obligations issued by the U.S. Government and government-related entities.The Fund generally invests in securities that are rated investment grade at the time of purchase. Investment grade securities are considered to be those instruments that are rated BBB- or higher by S&P Global Ratings (“S&P”), or Baa3 or higher by Moody’s Investors Service, Inc. (“Moody’s”), or the equivalent by another nationally recognized statistical rating organization (“NRSRO”), or if unrated, are considered by the Fund’s subadviser to be of comparable quality. In the event that a security receives different ratings from different NRSROs, the Fund will treat the security as being rated in the highest rating category received from an NRSRO. The Fund invests only in securities that are denominated in U.S. dollars, although the securities may be issued by a foreign corporation or a U.S. affiliate of a foreign corporation, or by a foreign government or its agencies and instrumentalities.The Fund may also invest up to 20% of its investable assets in below investment grade debt obligations (“junk bonds”) rated BB or lower by S&P, Ba or lower by Moody’s, or the equivalent by another NRSRO. The Fund may invest in unrated debt obligations that it determines are of comparable quality to the rated debt obligations that are permissible investments.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. 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 Fund may use derivatives to manage its duration, as well as to manage interest rate risk, to hedge against losses, and to try to improve returns.
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PCWRX - Performance

Return Ranking - Trailing

Period PCWRX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -2.3% 2.2% 57.95%
1 Yr 5.4% -0.1% 8.1% 52.84%
3 Yr -3.2%* -10.3% 39.4% 74.29%
5 Yr 0.3%* -7.4% 25.8% 85.63%
10 Yr N/A* -0.2% 14.0% 94.70%

* Annualized

Return Ranking - Calendar

Period PCWRX Return Category Return Low Category Return High Rank in Category (%)
2023 4.9% -5.6% 6.3% 15.34%
2022 -19.2% -28.7% 142.1% 67.43%
2021 -5.3% -12.3% 4.9% 75.58%
2020 6.3% -8.0% 10.6% 36.90%
2019 10.3% 4.3% 13.4% 39.87%

Total Return Ranking - Trailing

Period PCWRX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -2.3% 2.2% 57.95%
1 Yr 5.4% -0.1% 8.1% 52.84%
3 Yr -3.2%* -10.3% 39.4% 74.29%
5 Yr 0.3%* -7.4% 25.8% 85.63%
10 Yr N/A* -0.2% 14.0% 94.70%

* Annualized

Total Return Ranking - Calendar

Period PCWRX Return Category Return Low Category Return High Rank in Category (%)
2023 8.7% -5.6% 12.9% 46.02%
2022 -16.6% -25.6% 151.8% 76.57%
2021 -1.1% -5.1% 7.5% 69.19%
2020 9.2% -8.0% 116.0% 69.05%
2019 13.5% 6.7% 17.4% 70.89%

NAV & Total Return History


PCWRX - Holdings

Concentration Analysis

PCWRX Category Low Category High PCWRX % Rank
Net Assets 24.1 M 5.45 M 47.3 B 94.89%
Number of Holdings 262 4 10179 84.66%
Net Assets in Top 10 3.42 M -29.6 M 3.67 B 94.89%
Weighting of Top 10 13.93% 1.5% 143.5% 42.05%

Top 10 Holdings

  1. (PIPA070) PGIM Core Government Money Market Fund 1.95%
  2. Morgan Stanley 1.71%
  3. Puget Energy Inc 1.59%
  4. Wells Fargo Co 1.45%
  5. JPMorgan Chase Co 1.40%
  6. DCP Midstream Operating LP 1.27%
  7. SITE Centers Corp 1.22%
  8. Citigroup Inc 1.17%
  9. Bank of America Corp 1.08%
  10. Broadcom Inc 1.08%

Asset Allocation

Weighting Return Low Return High PCWRX % Rank
Bonds
96.84% 0.00% 136.47% 50.00%
Convertible Bonds
3.50% 0.00% 78.47% 66.48%
Cash
3.02% -43.80% 45.81% 38.64%
Other
0.14% -3.13% 12.28% 53.41%
Stocks
0.00% 0.00% 99.96% 72.16%
Preferred Stocks
0.00% 0.00% 9.18% 72.16%

Bond Sector Breakdown

Weighting Return Low Return High PCWRX % Rank
Corporate
91.54% 41.80% 99.80% 31.25%
Securitized
5.66% 0.00% 23.18% 13.64%
Cash & Equivalents
1.95% 0.00% 45.81% 47.16%
Government
1.18% 0.00% 25.63% 79.55%
Municipal
0.29% 0.00% 3.62% 47.16%
Derivative
0.14% -2.64% 2.35% 24.43%

Bond Geographic Breakdown

Weighting Return Low Return High PCWRX % Rank
US
96.84% 0.00% 109.87% 42.61%
Non US
0.00% 0.00% 47.05% 74.43%

PCWRX - Expenses

Operational Fees

PCWRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 46.23% 0.02% 46.23% 0.57%
Management Fee 0.45% 0.00% 1.35% 73.86%
12b-1 Fee 0.75% 0.00% 1.00% 72.37%
Administrative Fee N/A 0.02% 0.45% N/A

Sales Fees

PCWRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

PCWRX 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.

PCWRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 61.00% 0.00% 259.00% 47.13%

PCWRX - Distributions

Dividend Yield Analysis

PCWRX Category Low Category High PCWRX % Rank
Dividend Yield 3.40% 0.00% 6.00% 90.34%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PCWRX Category Low Category High PCWRX % Rank
Net Income Ratio 1.93% 0.38% 5.93% 68.39%

Capital Gain Distribution Analysis

PCWRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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PCWRX - Fund Manager Analysis

Managers

Terence Wheat


Start Date

Tenure

Tenure Rank

Jul 11, 2018

3.89

3.9%

Terence Wheat, CFA, is Principal, global high yield portfolio manager and emerging markets corporate portfolio manager at Prudential Fixed Income. Previously, he was a high yield portfolio manager for Prudential Fixed Income's High Yield Team for six years. Mr. Wheat also spent 12 years as a credit analyst in Prudential Fixed Income's Credit Research Group, where he was responsible for the consumer products, gaming and leisure, retail, supermarkets, and textile/apparel industries. Mr. Wheat covered high yield bonds from 1998 to 2003, and investment grade issues from 1993 to 1998. Earlier, he worked for Prudential's Financial Management Group. Mr. Wheat joined Prudential in 1988. He received a BS in Accounting and an MBA from Rider University. Mr. Wheat holds the Chartered Financial Analyst (CFA) designation.

Alyssa Davis


Start Date

Tenure

Tenure Rank

Jul 11, 2018

3.89

3.9%

Alyssa Davis is a Vice President and portfolio manager for PGIM Fixed Income's Investment Grade Corporate Team. Prior to her current role, Ms. Davis was a credit analyst in PGIM Fixed Income's Credit Research Group. As an analyst, Ms. Davis helped cover the retail, supermarket, consumer products, gaming, food and beverage, tobacco, leisure, and lodging sectors for investment grade and non-investment grade bond portfolios. Previously, she was an investment analyst for PGIM Fixed Income’s Investment Strategy Team, and an investment operations specialist for two different investment management product teams. Ms. Davis joined the Firm in 1997. She received a BS in Finance from Bryant College.

David Del Vecchio


Start Date

Tenure

Tenure Rank

Apr 25, 2019

3.1

3.1%

David Del Vecchio is a Managing Director and portfolio manager for PGIM Fixed Income’s U.S. Investment Grade Corporate Bond Team. Mr. Del Vecchio’s responsibilities include corporate strategies as well as corporate security selection in multi-sector strategies. Prior to his current role, Mr. Del Vecchio was a taxable money markets portfolio manager for the Money Markets Group, responsible for managing proprietary fixed income accounts, as well as the securities lending portfolios. Prior to joining the Money Markets Group in 2000, he was responsible for the lending/repurchase agreements of U.S. government, agency, and STRIP securities in PGIM Fixed Income’s Securities Lending Group. Mr. Del Vecchio joined the Firm in 1995. He received a BS in Business Administration with a specialization in Finance from The College of New Jersey, and an MBA in Finance from New York University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 24.76 6.74 2.47