PGIM Absolute Return Bond Fund (PADZX)
The fund invests at least 80% of its investable assets (net assets plus borrowings for investment purposes, if any) in debt securities (generally referred to as "bonds") and/or investments that provide exposure to bonds. It may invest up to 50% of its total assets in debt securities that are rated below investment grade (which are sometimes referred to as "junk bonds") or, if unrated, of comparable quality at the time of purchase as determined by the fund's subadviser.
Fund Info
| ISIN | US74441J8291 |
|---|---|
| CUSIP | 74441J829 |
| Issuer | PGIM Investments |
| Inception Date | Mar 29, 2011 |
| Category | Nontraditional Bonds |
| Min. Investment | $0 |
| Asset Class | Bond |
Expense Ratio
PADZX has a high expense ratio of 0.72%, indicating higher-than-average management fees.
Share Price Chart
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Popular comparisons: PADZX vs. GSY, PADZX vs. AGG
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in PGIM Absolute Return Bond 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 Absolute Return Bond Fund had a return of 2.87% year-to-date (YTD) and 9.56% in the last 12 months. Over the past 10 years, PGIM Absolute Return Bond Fund had an annualized return of 3.13%, while the S&P 500 had an annualized return of 10.55%, indicating that PGIM Absolute Return Bond Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 2.87% | 7.26% |
| 1 month | 0.11% | -2.63% |
| 6 months | 4.88% | 22.78% |
| 1 year | 9.56% | 22.71% |
| 5 years (annualized) | 3.21% | 11.87% |
| 10 years (annualized) | 3.13% | 10.55% |
Monthly Returns Heatmap
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.97% | 0.92% | 0.84% | |||||||||
| 2023 | 0.20% | 1.24% | 0.84% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of PADZX is 99, placing it in the top 1% of the market in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
PGIM Absolute Return Bond Fund(PADZX)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for PGIM Absolute Return Bond Fund (PADZX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
PGIM Absolute Return Bond Fund granted a 5.46% dividend yield in the last twelve months. The annual payout for that period amounted to $0.50 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.50 | $0.50 | $0.29 | $0.25 | $0.32 | $0.73 | $0.48 | $0.27 | $0.23 | $0.23 | $0.34 | $0.31 |
Dividend yield | 5.46% | 5.59% | 3.32% | 2.67% | 3.40% | 7.64% | 4.97% | 2.74% | 2.35% | 2.39% | 3.49% | 3.18% |
Monthly Dividends
The table displays the monthly dividend distributions for PGIM Absolute Return Bond 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 | $0.05 | $0.04 | $0.05 | |||||||||
| 2023 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.06 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2020 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 |
| 2019 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2018 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.15 |
| 2017 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.04 |
| 2016 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2015 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| 2014 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.05 | $0.02 |
| 2013 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $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 Absolute Return Bond 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 Absolute Return Bond Fund was 17.99%, occurring on Mar 24, 2020. Recovery took 215 trading sessions.
The current PGIM Absolute Return Bond Fund drawdown is 0.11%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -17.99% | Feb 24, 2020 | 22 | Mar 24, 2020 | 215 | Jan 29, 2021 | 237 |
| -5.31% | May 4, 2011 | 101 | Sep 26, 2011 | 107 | Feb 29, 2012 | 208 |
| -4.72% | Apr 13, 2015 | 212 | Feb 11, 2016 | 82 | Jun 9, 2016 | 294 |
| -3.82% | Sep 23, 2021 | 212 | Jul 27, 2022 | 148 | Feb 28, 2023 | 360 |
| -3.16% | May 10, 2013 | 31 | Jun 24, 2013 | 141 | Jan 14, 2014 | 172 |
Volatility
Volatility Chart
The current PGIM Absolute Return Bond Fund volatility is 0.43%, 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.