PGIM Fixed Income: A Heritage of Managing Risk
PGIM Fixed Income learned about managing risk, because when you handle the general account for one of the largest insurance companies in the U.S., you can’t af
The Fund is competitively priced at 15bps, among the lowest-cost actively managed ETFs in its category 2
High-quality positioning through consistent and sustainable sources across investment-grade sectors
Ultra-short duration, risk-managed approach can help to hedge against rising rates and benefit a cash management strategy
A deep and experienced team
The PGIM Ultra Short Bond ETF (PULS) is managed by PGIM Fixed Income, a unit of PGIM, Inc., one of the largest global fixed income managers in the world, with over $920 billion in assets under management. 2
The Fund’s senior portfolio managers average 32 years of investment experience and 34 years with the firm, and currently manage $74 billion in short-term strategies. 3 The team is supported by the deep resources and capabilities of PGIM Fixed Income, including 127 portfolio managers, 117 fundamental analysts, and 61 quantitative and risk managers.
1 Source: Morningstar. Data as of June 30, 2020
2 Sources of data as of June 30, 2020.
3 AUM as of June 30, 2020.
The Fund is an actively managed exchange traded fund (ETF) and, thus, does not seek to replicate the performance of a specified index. The Fund is not a money market fund and does not seek to maintain a stable net asset value (NAV). As an ETF, the Fund’s shares trade on an exchange and are subject to ETF shares trading risk, including that the Fund’s shares may trade at a premium or discount to net asset value; during periods may become less liquid; potentially may lack an active trading market, which may result in significant losses if you sell your shares of the Fund during these periods; and may be subject to authorized participant concentration risk, since the Fund has a limited number of intermediaries that act as authorized participants and none of these authorized participants are or will be obligated to engage in creation or redemption transactions. To the extent that these intermediaries exit the business or are unable to or choose not to proceed with creation and/or redemption orders with respect to the Fund and no other authorized participant creates or redeems, shares of the Fund may trade at a discount to NAV and possibly face trading halts and/or delisting. The Fund may be subject to the cost of buying or selling shares: When you buy or sell shares of the Fund through a broker, you will likely incur brokerage commission or other charges; and cash transaction risk: Unlike other ETFs, the Fund may effect creation and redemptions in cash or partially in cash so that the Fund may be less tax-efficient than an investment in an ETF that distributes portfolio securities in-kind. The Fund is subject to new/small fund risk given the fund’s recently commenced operations and limited operating history. Fixed income investments are subject to credit, market, and interest rate risks, and their value will decline as interest rates rise; call and redemption risk, where the issuer may call a bond held by the Fund for redemption before it matures and the Fund may lose income; and extension risk, where the issuer may repay a fixed income security more slowly than expected, extending the effective duration of these securities. The Fund’s fixed income investments include variable and floating rate bonds, which are subject to credit, market, and interest rate risk. The Fund may invest in foreign securities, which generally involve more risk than investing in U.S. issuers, including political, legal, and economic uncertainty; mortgage-backed and asset-backed securities, which are subject to prepayment, extension, and interest rate risks; and U.S. government and agency securities, which may carry market, interest rate, and credit risks, may not be insured or guaranteed by the full faith and credit of the U.S. government, and may limit the Fund’s potential for capital appreciation. The Fund may not be invested in all sectors at a given time. The risks associated with the Fund are more fully explained in the prospectus and summary prospectus. Diversification does not assure a profit or protect against loss in declining markets. These risks may increase the Fund’s share price volatility. There is no guarantee the Fund’s objective will be achieved.
Market Price and NAV Price Daily YTD Returns are reported as Inception To Date return for funds before they pass the first calendar year end of operation. Market returns are based upon the midpoint of the bid/ask spread at 4:00 pm Eastern time (when NAV is normally determined for most Funds), and do not represent the returns you would receive if you traded shares at other times. Market Price and Market Price Change are reported as consolidated midpoint of bid/ask spread. Due to data availability, statistics may not be as of the current reporting period. Expenses based on the most recent publicly available reports. See the Fund's Annual Report for full information on expenses. This fund is actively managed. All data is unaudited and subject to change.
Alpha is a measure of an investment’s value-added based on its beta or market-related risk profile. A high value for alpha implies that the investment has performed better than would have been expected, given its beta profile. In contrast, a negative alpha indicates the manager has underperformed, given the expectations established by beta.
Source: NYSE, Brown Brothers Harriman & Co, Lipper, Inc., and PGIM, Inc (PGIM). PGIM is a Prudential Financial company. All returns assume share price changes as well as the compounding effect of reinvested dividends and capital gains. Returns may reflect fee waivers and/or expense reimbursements. Without such, returns would be lower. All returns 1-year or less are cumulative.
Consider a fund's investment objectives, risks, charges, and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. Contact your financial professional for a prospectus and summary prospectus. Read them carefully before investing.
This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact their financial professional.
Investment products are distributed by Prudential Investment Management Services LLC, a Prudential Financial company, member SIPC. Jennison Associates and PGIM, Inc. (PGIM) are registered investment advisors and Prudential Financial companies. QMA is the primary business name of QMA LLC, a wholly owned subsidiary of PGIM. PGIM Fixed Income and PGIM Real Estate are units of PGIM. © 2020 Prudential Financial, Inc. and its related entities. Jennison Associates, Jennison, PGIM Real Estate, PGIM, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.
Investment Products: Are not insured by the FDIC or any other federal government agency, may lose value, and are not a deposit of or guaranteed by any bank or any bank affiliate.
1009052-00004-00 Ed. 7/2019