PGIM Floating Rate Income Fund (FRFZX)
The investment seeks to maximize current income; capital appreciation is a secondary consideration. The fund will invest at least 80% of its investable assets (net assets plus borrowings for investment purposes, if any) in floating rate loans and other floating rate debt securities. It may invest up to 20% of its total assets in senior loans that are not secured by any specific collateral. The fund may invest up to 25% of its total assets in senior loans made to foreign-domiciled borrowers and other foreign securities, including securities of issuers located in emerging market countries, which may be denominated in U.S. dollars or non-U.S. currencies.
Fund Info
| ISIN | US74439V8000 |
|---|---|
| CUSIP | 74439V800 |
| Issuer | PGIM Investments |
| Inception Date | Mar 29, 2011 |
| Category | Bank Loan |
| Min. Investment | $0 |
| Asset Class | Bond |
Expense Ratio
FRFZX has a high expense ratio of 0.70%, indicating higher-than-average management fees.
Share Price Chart
Loading data...
Compare to other instruments
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Popular comparisons: FRFZX vs. FBGRX, FRFZX vs. SPY
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in PGIM Floating Rate Income Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
PGIM Floating Rate Income Fund had a return of 1.99% year-to-date (YTD) and 11.30% in the last 12 months. Over the past 10 years, PGIM Floating Rate Income Fund had an annualized return of 4.18%, while the S&P 500 had an annualized return of 10.55%, indicating that PGIM Floating Rate Income Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 1.99% | 7.26% |
| 1 month | -0.76% | -2.63% |
| 6 months | 7.02% | 22.78% |
| 1 year | 11.30% | 22.71% |
| 5 years (annualized) | 4.78% | 11.87% |
| 10 years (annualized) | 4.18% | 10.55% |
Monthly Returns Heatmap
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.80% | 0.95% | 1.00% | |||||||||
| 2023 | -0.31% | 1.97% | 2.07% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of FRFZX is 98, placing it in the top 2% of the market in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
PGIM Floating Rate Income Fund(FRFZX)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for PGIM Floating Rate Income Fund (FRFZX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
PGIM Floating Rate Income Fund granted a 8.39% dividend yield in the last twelve months. The annual payout for that period amounted to $0.76 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.76 | $0.81 | $0.57 | $0.35 | $0.51 | $0.52 | $0.44 | $0.44 | $0.39 | $0.38 | $0.41 | $0.39 |
Dividend yield | 8.39% | 8.84% | 6.54% | 3.67% | 5.36% | 5.41% | 4.69% | 4.48% | 3.91% | 3.98% | 4.12% | 3.79% |
Monthly Dividends
The table displays the monthly dividend distributions for PGIM Floating Rate Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.07 | $0.07 | $0.07 | |||||||||
| 2023 | $0.07 | $0.06 | $0.06 | $0.06 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.05 | $0.05 | $0.06 | $0.13 | $0.06 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.05 | $0.03 |
| 2020 | $0.05 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.03 |
| 2019 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.04 | $0.05 | $0.02 | $0.04 |
| 2018 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.01 | $0.04 |
| 2017 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.01 | $0.04 |
| 2015 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2014 | $0.04 | $0.03 | $0.03 | $0.03 | $0.06 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.02 |
| 2013 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the PGIM Floating Rate Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the PGIM Floating Rate Income Fund was 21.95%, occurring on Mar 23, 2020. Recovery took 161 trading sessions.
The current PGIM Floating Rate Income Fund drawdown is 0.76%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -21.95% | Jan 23, 2020 | 42 | Mar 23, 2020 | 161 | Nov 9, 2020 | 203 |
| -7.47% | Jan 21, 2022 | 114 | Jul 6, 2022 | 151 | Feb 9, 2023 | 265 |
| -5.94% | Aug 2, 2011 | 17 | Aug 24, 2011 | 91 | Jan 4, 2012 | 108 |
| -4.47% | Oct 11, 2018 | 53 | Dec 27, 2018 | 42 | Feb 28, 2019 | 95 |
| -3.98% | Aug 4, 2015 | 138 | Feb 19, 2016 | 44 | Apr 22, 2016 | 182 |
Volatility
Volatility Chart
The current PGIM Floating Rate Income Fund volatility is 0.62%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.