PGIM Active High Yield Bond ETF

Frequently Asked Questions About PHYL

What does PHYL invest in?

PGIM ETF Trust - PGIM Active High Yield Bond ETF is an exchange traded fund launched and managed by PGIM Investments LLC. The fund is co-managed by PGIM Fixed Income. It invests in fixed income markets of the United States. The fund invests directly and through derivatives in high yield bonds issued by companies or governments including U.S. government, its agencies and instrumentalities, commercial paper, asset-backed securities, mortgage-backed securities, variable and floating rate instruments, bills, notes and other obligations issued by banks, corporations and other companies (including trust structures), convertible and non-convertible securities (including preferred stocks), loan participations and assignments, obligations issued by non-U.S. banks, companies or non-U.S. governments, and municipal bonds and notes that are rated Ba1 or lower by Moody’s Investors Service, Inc., BB+ or lower by S&P Global Ratings or Fitch, Inc. The fund employs fundamental and quantitative analysis with bottom-up and top-down security picking approach to create its portfolio. It seeks to benchmark the performance of its portfolio against the Bloomberg US High Yield Very Liquid Index. The fund employs proprietary research to create its portfolio. PGIM ETF Trust - PGIM Active High Yield Bond ETF was formed on September 24, 2018 and is domiciled in the United States.

What is the expense ratio of PHYL?

PGIM Active High Yield Bond ETF (PHYL) charges an expense ratio of 0.39%. This is the annual fee deducted from fund assets to cover management and operations.

What is PHYL's dividend yield?

PHYL's trailing-twelve-month yield is 7.62%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of PHYL?

Effective duration measures PHYL's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. PHYL's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of PHYL?

PHYL's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of PHYL?

Yield to maturity (YTM) is the total return you'd earn from PHYL if every bond in the portfolio is held to maturity at the current price. PHYL's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.