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
US74441J8291
74441J829
Mar 29, 2011
$0
Expense Ratio
PADZX features an expense ratio of 0.72%, falling within the medium range.
Share Price Chart
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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 7.47% year-to-date (YTD) and 8.01% in the last 12 months. Over the past 10 years, PGIM Absolute Return Bond Fund had an annualized return of 3.23%, while the S&P 500 had an annualized return of 11.23%, indicating that PGIM Absolute Return Bond Fund did not perform as well as the benchmark.
PADZX
7.47%
0.46%
3.47%
8.01%
3.38%
3.23%
^GSPC (Benchmark)
26.63%
1.18%
10.44%
27.03%
13.30%
11.23%
Monthly Returns
The table below presents the monthly returns of PADZX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.97% | 0.92% | 0.84% | 0.59% | 0.71% | 0.24% | 0.58% | 0.35% | 0.57% | 0.66% | 0.68% | 7.47% | |
| 2023 | 0.72% | 0.59% | -0.60% | 0.45% | 0.71% | 1.27% | 0.96% | 0.64% | 0.46% | 0.20% | 1.25% | 0.84% | 7.73% |
| 2022 | -0.32% | -0.79% | 0.08% | -0.36% | -0.53% | -1.12% | -0.26% | 1.16% | -0.31% | 0.22% | 0.58% | 0.56% | -1.13% |
| 2021 | 0.46% | -0.10% | -0.41% | 0.86% | 0.67% | 0.44% | 0.12% | 0.13% | -0.02% | -0.25% | -0.43% | 0.65% | 2.14% |
| 2020 | 0.39% | -0.92% | -13.32% | 3.18% | 3.68% | 1.99% | 2.23% | 0.50% | -0.07% | 0.17% | 2.49% | 1.45% | 0.59% |
| 2019 | 1.46% | 0.49% | 0.74% | 0.64% | -0.07% | 0.98% | 0.48% | -0.23% | 0.92% | 0.33% | 0.61% | -2.07% | 4.32% |
| 2018 | 0.84% | -0.47% | 0.25% | 0.15% | -0.41% | 0.25% | 0.70% | -0.13% | 0.18% | 0.16% | -0.13% | -0.67% | 0.72% |
| 2017 | 0.73% | 0.91% | 0.31% | 0.40% | 0.51% | 0.63% | 0.51% | 0.32% | 0.79% | 0.43% | 0.26% | 0.67% | 6.67% |
| 2016 | -0.77% | -0.77% | 1.63% | 1.50% | -0.09% | 0.63% | 1.47% | 0.51% | 0.20% | 0.18% | -0.75% | 1.25% | 5.04% |
| 2015 | 0.11% | 0.70% | -0.12% | 0.19% | -0.10% | -0.63% | 0.20% | -0.54% | -0.85% | 0.94% | -0.33% | -0.55% | -1.00% |
| 2014 | -0.37% | 1.05% | 0.48% | 0.20% | 0.71% | 0.29% | -0.12% | 0.57% | -0.75% | 0.45% | 0.10% | -0.49% | 2.14% |
| 2013 | 0.65% | -0.12% | 0.16% | 0.83% | -0.48% | -1.67% | 0.77% | -0.73% | 0.81% | 1.00% | -0.22% | 0.69% | 1.67% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 99, PADZX is among the top 1% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
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 provided a 5.66% dividend yield over the last twelve months, with an annual payout of $0.52 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.52 | $0.50 | $0.29 | $0.25 | $0.32 | $0.43 | $0.48 | $0.28 | $0.23 | $0.23 | $0.34 | $0.31 |
Dividend yield | 5.66% | 5.58% | 3.31% | 2.66% | 3.41% | 4.50% | 5.03% | 2.75% | 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 | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.05 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.47 |
| 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 | $0.50 |
| 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 | $0.29 |
| 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 | $0.25 |
| 2020 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.32 |
| 2019 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.43 |
| 2018 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.15 | $0.48 |
| 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 | $0.28 |
| 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 | $0.23 |
| 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 | $0.23 |
| 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 | $0.34 |
| 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 | $0.31 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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 19.36%, occurring on Mar 24, 2020. Recovery took 321 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -19.36% | Dec 18, 2019 | 66 | Mar 24, 2020 | 321 | Jul 1, 2021 | 387 |
| -5.31% | May 4, 2011 | 101 | Sep 26, 2011 | 107 | Feb 29, 2012 | 208 |
| -4.71% | Apr 13, 2015 | 212 | Feb 11, 2016 | 82 | Jun 9, 2016 | 294 |
| -3.82% | Sep 16, 2021 | 217 | Jul 27, 2022 | 148 | Feb 28, 2023 | 365 |
| -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 0.53%, 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.