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A:SCFOX C:SCFVX R6:SCFQX Z:SCFZX
Barron’s Best Fund Families: Ranked #4 for best fund family over the 1-year period ended 12/31/2024, among 48 qualifying fund families based on asset-weighted returns.
Seeks to maximize total return through a combination of current income and capital appreciation by investing primarily in securitized credit investments. The Fund may be appropriate for investors looking to gain exposure to structured product sector...
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Morningstar Ratings as of 5/31/2025
Class R6 & Z Shares:
Class A & C Shares:
Overall Morningstar RatingTM out of 254 Nontraditional Bond funds. Morningstar measures risk-adjusted returns. The overall rating is a weighted average based on the Fund's 3-, 5-, and 10-year star rating, if applicable.
Fund Information
Style: Non-Traditional Bond
Total Net Assets: $2.104 Billion
- Dividends: Accured daily, Paid monthly, if any.
- Cap. Gains: Paid annually, if any.
- Calendar Year Performance
Fund Statistics as of 5/31/2025
Average Maturity (years)
4.7
Duration (years)
0.3
Prospectus & Shareholder Reports
- Summary Prospectus Opens in a new window
- Prospectus Opens in a new window
- Annual Report Opens in a new window
- Semi Annual Report Opens in a new window
- SAI Opens in a new window
- Financial Statements and Other Information - Annual Opens in a new window Financial Statements and Other Information - Semiannual
Portfolio Attributes as of 5/31/2025
Sector Breakdown (% of Assets)
| ABS | 55.0 % |
| Non Agency MBS | 26.2 % |
| Commercial MBS | 20.9 % |
| U.S. Treasuries | 0.1 % |
| Other | -0.1 % |
| Cash/Equiv | -2.1 % |
Credit Quality (% of Assets)
| AAA | 33.2 % | |
| AA | 36.4 % | 1.0 |
| A | 9.7 % | |
| BBB | 10.1 % | |
| BB | 5.3 % | |
| B | 0.2 % | |
| Not Rated | 7.1 % | |
| Cash/Equiv | -2.2 % | |
All data is unaudited and subject to change. Holdings/allocations may vary. Total number of holdings based on issuers. Largest holdings excludes cash, cash equivalents, money market funds and enhanced cash strategies. This is not a recommendation to buy or sell any security listed. Largest holdings exclude cash, cash equivalents, money market funds and enhanced cash strategies. Negative holdings reflect outstanding trades at period end.
Class A Shares:
Class C Shares:
Class R6 Shares:
Class Z Shares:
Source: Morningstar. Morningstar Ratings may be calculated based on share class adjusted historical returns. If so, the fund’s independent Morningstar Rating metric uses the fund’s oldest class to determine its hypothetical rating for certain periods. Morningstar Ratings are calculated for managed products with a 3-year minimum history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. Rating is calculated based on a Morningstar Risk-Adjusted Return measure accounting for variation in a managed product's monthly excess performance that emphasizes downward variations more and rewards consistent performance, with no sales load adjustment. In each category, the top 10% receive 5 stars, with 4 stars for the next 22.5%, 3 stars for the next 35%, 2 stars for the next 22.5%, and 1 star for the bottom 10%. Overall Morningstar Rating is derived from a weighted average of the performance associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics: for 36-59 months of total returns, 100% 3-year rating, for 60-119 months of total returns, 60% 5-year rating/40% 3-year rating, and for 120 or more months of total returns, 50% 10-year rating/30% 5-year rating/20% 3-year rating.
Total Returns (%) as of 3/31/2025
| Total Returns (%) (with sales charge) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Cumulative | Average Annual | ||||||||
| Class | Ticker | YTD | 1-Year | 3-Year | 5-Year | 10-Year | Since Inception | ||
| A | SCFOX | — | 3.36 | 5.17 | 6.76 | — | 4.07 11/16/2015 | ||
| C | SCFVX | — | 5.03 | 5.50 | 6.63 | — | 3.65 11/16/2015 | ||
| R6 | SCFQX | — | 7.03 | 6.58 | 7.76 | — | 4.74 11/16/2015 | ||
| Z | SCFZX | — | 7.10 | 6.57 | 7.74 | — | 4.70 11/16/2015 | ||
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost.
For periods prior to July 1, 2019, the Fund’s performance is that of an investment trust (the “Predecessor Fund”), which commenced operations on November 16, 2015. The performance of the Predecessor Fund has been adjusted to reflect the fees and expenses for the applicable class of shares of the Fund. If the performance of the Predecessor Fund had not been adjusted to reflect the fees and expenses of the Fund, the performance may have been higher than the performance shown for each class of shares. The Predecessor Fund was reorganized into the Fund immediately before the Fund commenced operations on July 1, 2019. Prior to the reorganization, the Predecessor Fund was managed by the Fund’s subadviser since its inception (using the same portfolio management team). The investment objective and strategies of the Predecessor Fund were, in all material respects, the same as those of the Fund, and the Predecessor Fund was managed in a manner that, in all material respects, complied with the investment guidelines and restrictions of the Fund. However, the Predecessor Fund was not registered as an investment company under the Investment Company Act of 1940 ("1940 Act") and the Predecessor Fund was not subject to certain investment limitations, diversification requirements, liquidity requirements, daily net asset value calculation requirements and other restrictions imposed by the 1940 Act and the Internal Revenue Code of 1986 which, if applicable, may have resulted in different performance.
See Daily Returns for the PGIM Securitized Credit Fund.
See Quarterly SEC Standardized Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Securitized Credit Fund.
| Class |
|---|
| A |
| C |
| R6 |
| Z |
| Fund Expenses | Maximum Sales Charges (%) | |||
|---|---|---|---|---|
| Class | Gross (%) | Net (%) | Date* | |
| A | 1.39 | 0.90 | 1/31/2026 | 3.25 |
| C | 3.24 | 1.65 | 1/31/2026 | 1.0 |
| R6 | 34.13 | 0.60 | 1/31/2026 | — |
| Z | 0.83 | 0.65 | 1/31/2026 | — |
Footnote
*This date represents the contractual reduction date through which the net expense ratio is in effect.See Sales Load Break points.Opens in a new window
Total return describes the return to the investor after net operating expenses but before any sales charges are imposed. Lipper average is unmanaged, is based on the average return of all funds in this category, and does not take into consideration applicable sales charges. Unless noted otherwise, Lipper averages and index returns reflect performance beginning the closest month-end date to the Fund's inception. Benchmark since inception average is based on Class Z inception date. SEC standardized return describes the return to the investor after net operating expense and maximum sales charges are imposed. 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.
Morningstar Nontraditional Bond Category Average: Inclusion in nontraditional bond is informed by a balance of factors determined by Morningstar analysts. Those typically include a mix of: absolute return mandates; goals of producing returns not correlated with the overall bond market; performance benchmarks based on ultrashort-term interest rates such as T-bills; the ability to take long and short market and security-level positions using a broad range of derivatives; and few or very limited portfolio constraints on exposure to credit, sectors, currency, or interest-rate sensitivity. Funds in this group typically have the flexibility to manage duration exposure over a wide range of years and to take it to zero or a negative value.
An investment cannot be made directly in an index or average. All indexes and averages are unmanaged.
Sector Breakdown (% of Assets)
| ABS | 55.0 % |
| Non Agency MBS | 26.2 % |
| Commercial MBS | 20.9 % |
| U.S. Treasuries | 0.1 % |
| Other | -0.1 % |
| Cash/Equiv | -2.1 % |
Credit Quality (% of Assets)
| AAA | 33.2 % |
| AA | 36.4 % |
| A | 9.7 % |
| BBB | 10.1 % |
| BB | 5.3 % |
| B | 0.2 % |
| Not Rated | 7.1 % |
| Cash/Equiv | -2.2 % |
FUND STATISTICS as of 5/31/2025
| Average Maturity (years) | 4.7 |
| Duration (years) | 0.3 |
All data is unaudited and subject to change. Holdings/allocations may vary. This is not a recommendation to buy or sell any security listed. Largest holdings exclude cash, cash equivalents, money market funds and enhanced cash strategies. Negative holdings reflect outstanding trades at period end. U.S. and Non-U.S. represents duration contribution by currency.
About
PGIM Fixed Income, with $862 billion in assets under management as of March 31, 2025, is a global asset manager offering active solutions across all fixed income markets. The company is headquartered in Newark, New Jersey, U.S.A. with affiliated offices across the globe, including in Amsterdam, Hong Kong, London, Munich, Paris, Singapore, Tokyo, and Zurich. At PGIM Fixed Income we believe that research-driven security selection is the most consistent strategy for adding value to client portfolios. The firm complements that base strategy with active sector rotation, duration management, and superior trade execution. Risk budgeting is central to this approach. PGIM Limited is also a subadvisor on this fund. PGIM Limited is an indirect, wholly-owned subsidiary of PGIM, Inc. (“PGIM”), the principal asset management business of Prudential Financial, Inc. (“PFI”), a company incorporated and with its principal place of business in the United States.
Peter Freitag, CFA, Brian Juliano, Edwin Wilches, CFA, and Gabriel Rivera of PGIM Fixed Income are primarily responsible for management of the PGIM Securitized Credit Fund. Expected on or about June 2025, Peter Freitag is expected to retire.
Peter Freitag, CFA
is a Principal and Securitized Products Portfolio Manager on PGIM Fixed Income’s Securitized Products Team.
View Bio
Brian Juliano
is a Managing Director and Head of the U.S. Leveraged Loan Team for PGIM Fixed Income.
View Bio
Edwin Wilches, CFA
is a Managing Director and Co-Head of PGIM Fixed Income’s Securitized Products team.
View Bio
Gabriel Rivera
is a Managing Director and Co-Head of PGIM Fixed Income’s Securitized Products Team.
View Bio
Average Maturity is the average time to maturity for a bond. Credit quality is calculated using the highest rating assigned by a nationally recognized statistical rating organization (NRSRO) such as Moody’s, S&P, or Fitch. The Not Rated category consists of securities that have not been rated by an NRSRO. Duration measures investment risk that takes into account both a bond's interest payments and its value to maturity. Overweight/Underweights are benchmarked against the Bloomberg Barclays US Aggregate Bond Index, which covers the USD-denominated, investment-grade, fixed-rate or step up, taxable bond market of SEC-registered securities and includes bonds from Treasury, Government- Related, Corporate, MBS (agency fixed-rate & hybrid ARM passthroughs), ABS, & CMBS sectors. Securities included in the index must have at least 1 year until final maturity & be rated investment-grade (Baa3/ BBB-/BBB-) or better using middle rating of Moody’s, S&P, & Fitch. All indexes and averages are unmanaged. Due to data availability, statistics may not be as of the current reporting period.
Enhanced cash strategies are variations on traditional money market vehicles. They are designed to provide liquidity and principal preservation, but with more of an emphasis on seeking returns that are superior to those of traditional money market offerings.
Source: Benchmarks - Lipper Inc.; Statistics - Morningstar Inc.; All other data from PGIM, Inc.
© 2025 Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results.
BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Bloomberg neither approves nor endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results obtained therefrom and, to the maximum extend allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.
Class R6 and Z shares may be available to group retirement plans and institutional investors through certain retirement, mutual fund wrap and asset allocation programs. They may also be available to institutional investors. Class Z shares may be available through fee- or commission-based retail brokerage programs of certain financial intermediaries. Class A, C, and Z shares are generally closed to new retirement plans. Please see the prospectus for additional information about fees, expenses, and investor eligibility.
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. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.
Investment products are distributed by Prudential Investment Management Services LLC, member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies. PGIM Fixed Income is a unit of PGIM, a registered investment advisor. PGIM Limited acts as a subadvisor to all fixed income funds. PGIM Limited is an indirect, wholly owned subsidiary of PGIM, Inc. (PGIM), the principal asset management business of Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States. All are Prudential Financial affiliates. © 2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, PGIM Fixed Income, PGIM Limited, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
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 not insured by the FDIC or any federal government agency | May lose value | Are not a deposit of or guaranteed by any bank or any bank affiliate.
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.
For Compliance Use Only:4341995 Ed. 03/2025
