PGIM's Mike Collins, Executive Portfolio Advisor, recently sat down with Phil Blancato Chief Market Strategist, Osaic/President, CEO, Ladenburg Thalmann Asset Management during the October 27th episode of Osaic’s Weekly Market Impact podcast. Listen in as the two discuss the current environment around bonds, the economy, markets, and the potential for an additional Fed rate before year-end.
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 the Global Wealth Sales Desk at (800) 257-3893 to obtain the prospectus and summary prospectus. Read them carefully before investing.
PGIM High Yield Fund (PHYZX) | Standardized Performance. Total Returns as of 9/30/2025.
| TOTAL RETURNS (%) WITH SALES CHARGE WITHOUT SALES CHARGE | ||||||
| Cumulative | Average Annual | |||||
Class | Ticker | YTD | 1-Yr | 3-Yr | 5-Yr | 10-Yr | Since Inception |
A | PBHAX | — | 6.89 | 7.78 | 5.00 | 4.89 | 6.86 |
C | PRHCX | — | 8.68 | 8.28 | 4.94 | 4.51 | 5.68 |
R | JDYRX | — | 10.14 | 8.73 | 5.38 | 4.94 | 6.06 |
R2 | PHYEX | — | 10.29 | 8.88 | 5.53 | — | 4.70 |
R4 | PHYGX | — | 10.56 | 9.15 | 5.80 | — | 4.97 |
R6 | PHYQX | — | 11.10 | 9.45 | 6.13 | 5.64 | 6.16 |
Z | PHYZX | — | 10.71 | 9.31 | 5.96 | 5.53 | 6.24 |
Risks of investing in the fund include but are not limited to the following: Fixed Income investments are subject to credit, market, prepayment and interest rate risks, and their value will decline as interest rates rise. High yield (“junk”) bonds are subject to greater credit and market risks. Investments in currency may result in a decline in the fund’s net asset value due to changes in exchange rates. Foreign securities are subject to currency fluctuations and political uncertainty. Derivatives may carry market, credit and liquidity risks. There is no guarantee the Fund's objective will be achieved. Risks are more fully explained in the fund's prospectus.
PGIM Total Return Bond Fund (PDBZX) | Standardized Performance. Total Returns as of 9/30/2025.
| Cumulative | Average Annual |
|
| ||||
Class | Ticker | YTD | 1-Yr | 3-Yr | 5-Yr | 10-Yr | Since Inception |
A | PDBAX | — | 0.00 | 4.99 | -0.65 | 2.11 | 4.90 |
C | PDBCX | — | 1.61 | 5.41 | -0.70 | 1.70 | 4.36 |
R | DTBRX | — | 3.10 | 5.92 | -0.23 | 2.19 | 3.74 |
R2 | PDBRX | — | 3.22 | 6.02 | -0.11 | — | 1.76 |
R4 | PDBSX | — | 3.48 | 6.31 | 0.15 | — | 2.02 |
R6 | PTRQX | — | 3.73 | 6.58 | 0.39 | 2.81 | 3.61 |
Z | PDBZX | — | 3.63 | 6.45 | 0.28 | 2.72 | 4.89 |
Bloomberg US Aggregate Bond Index | 6.13 | 2.88 | 4.93 | -0.45 | 1.84 | 4.30 | |
Morningstar Intermediate Core-Plus Bond Category Average | 5.20 | 3.66 | 3.69 | 0.11 | 2.20 | 4.44 | |
Risks of investing in the fund include but are not limited to the following: Fixed Income investments are subject to credit, market, prepayment and interest rate risks, and their value will decline as interest rates rise. High yield (“junk”) bonds are subject to greater credit and market risks. Mortgage-backed and asset-backed securities tend to increase in value less than other debt securities when interest rates decline, but are subject to a similar risk of decline in market value during periods of rising interest rates. Floating rate and other loans are subject to the risk that failure to receive scheduled interest or principal payments on a loan would adversely affect the income of the Fund and would likely reduce the value of its assets. Collateralized Loan Obligations are subject to credit, interest rate, valuation and prepayment and extension risks, as well as risk of default on the underlying asset. Foreign securities are subject to currency fluctuations and political uncertainty. Investments in currency may result in a decline in the fund’s net asset value due to changes in exchange rates. Holders of structured product securities bear the risks of the underlying investments, index or reference obligation. Derivatives may carry market, credit and liquidity risks. There is no guarantee the Fund's objective will be achieved. Risks are more fully explained in the fund's prospectus.
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, Inc., 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. PGIM is the principal asset management business of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its global subsidiaries and affiliates.
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.
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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.
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