# PGIM Jennison MLP Fund Class Z (PRPZX): Mutual Fund Facts & Distributions

> Markdown mirror of https://www.dividenddata.com/funds/prpzx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice.

- Issuer: PGIM · Asset class: Equity
- Strategy: Actively Managed · Inception: 2013-12-19

The fund's primary objective is to achieve a comprehensive total return, derived from both current income generation and capital appreciation. It typically commits a minimum of 80% of its capital available for investment—referred to as "investable assets"—to master limited partnerships (MLPs) and related securities. "Investable assets" specifically include the fund's net holdings along with any borrowings used for investment purposes. However, if the fund borrows capital for non-investment reasons, such as managing anticipated redemptions, these investable assets would be less than its tota...

## Key Facts

| Metric | Value |
|---|---|
| Price | $7.37 |
| Expense Ratio | 1.18% |
| Assets Under Management | $512.3M |
| NAV | $7.37 (2026-10-29 close) |
| Holdings Count | — |
| Distribution Yield (TTM) | 8.34% |
| Annual Distribution (TTM) | $0.61 /share |
| Distribution Frequency | Quarterly |
| 52-Week Range | $5.87 – $7.50 |
| Beta | 0.27 |

## Latest Distribution

- Amount: $0.0605 /share
- Ex-date: 2026-09-30
- Pay date: 2026-09-30

## Frequently Asked Questions

### What does PRPZX invest in?

The fund's primary objective is to achieve a comprehensive total return, derived from both current income generation and capital appreciation. It typically commits a minimum of 80% of its capital available for investment—referred to as "investable assets"—to master limited partnerships (MLPs) and related securities. "Investable assets" specifically include the fund's net holdings along with any borrowings used for investment purposes. However, if the fund borrows capital for non-investment reasons, such as managing anticipated redemptions, these investable assets would be less than its total asset base. This fund operates as a non-diversified investment vehicle.

### What is the expense ratio of PRPZX?

PGIM Jennison MLP Fund Class Z (PRPZX) charges an expense ratio of 1.18%. This is the annual fee deducted from fund assets to cover management and operations.

### How big is PRPZX?

PGIM Jennison MLP Fund Class Z (PRPZX) manages $512.3M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

### Is PRPZX actively managed or an index fund?

PRPZX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (PRPZX's is 1.18%) in exchange for the discretion to over- or under-weight positions.

### When was PRPZX launched?

PGIM Jennison MLP Fund Class Z (PRPZX) launched in December 2013 and is managed by PGIM.

### How has PRPZX performed?

PRPZX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.

### Does PRPZX pay a dividend?

PGIM Jennison MLP Fund Class Z (PRPZX) currently distributes little or no income. Trailing-twelve-month yield is 8.34%. Investors looking for income should consider income-focused alternatives. See the Peers tab.

### How often does PRPZX pay dividends?

PGIM Jennison MLP Fund Class Z pays dividends Quarterly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page.

### What is PRPZX's dividend yield?

PRPZX's trailing-twelve-month yield is 8.34%, calculated from the sum of dividends over the past year divided by the current price.

### When is PRPZX's next ex-dividend date?

The most recently announced ex-dividend date for PRPZX was 2026-09-30. The next ex-date typically follows Quarterly; once announced it appears at the top of the dividend history table on this page.

### How much will PRPZX's expense ratio cost me over 30 years?

On a $10,000 investment compounding at 7% gross return, a 1.18% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees.

### How does PRPZX charge its expense ratio?

The expense ratio is deducted in tiny daily slices from PRPZX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price.

### Why does PRPZX cost more than a fund like VOO?

PRPZX is actively managed (current expense ratio 1.18%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether PRPZX's fee is competitive for the active-management cohort.

### Are there cheaper alternatives to PRPZX?

The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as PRPZX (1.18%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want.

## More on Dividend Data

- Overview (HTML): https://www.dividenddata.com/funds/prpzx
- Distribution history: https://www.dividenddata.com/funds/prpzx/dividend
- Holdings & diversification: https://www.dividenddata.com/funds/prpzx/diversification
- Fees & cheaper alternatives: https://www.dividenddata.com/funds/prpzx/expenses
- Peer comparison: https://www.dividenddata.com/funds/prpzx/peers

Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.