PGIM High Yield Fund (PBHAX)
The investment seeks to maximize current income; and capital appreciation is a secondary objective. The fund normally invests at least 80% of its investable assets in a diversified portfolio of high yield fixed-income instruments rated Ba or lower by Moody's Investors Service (Moody's) or BB or lower by S&P Global Ratings (S&P), and instruments either rated by another nationally recognized statistical rating organization (NRSRO), or considered to be of comparable quality, that is, junk bonds.
Fund Info
| ISIN | US74440Y1082 |
|---|---|
| CUSIP | 74440Y108 |
| Issuer | PGIM Investments |
| Inception Date | Jan 22, 1990 |
| Category | High Yield Bonds |
| Min. Investment | $1,000 |
| Asset Class | Bond |
Expense Ratio
PBHAX features an expense ratio of 0.75%, falling within the medium range.
Share Price Chart
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Compare to other instruments
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Popular comparisons: PBHAX vs. USHY, PBHAX vs. PHYQX, PBHAX vs. BND, PBHAX vs. PFIUX, PBHAX vs. SPYD, PBHAX vs. INPFX, PBHAX vs. BIL, PBHAX vs. VDIGX, PBHAX vs. VHYAX, PBHAX vs. VWEHX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in PGIM High Yield 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 High Yield Fund had a return of 7.86% year-to-date (YTD) and 15.19% in the last 12 months. Over the past 10 years, PGIM High Yield Fund had an annualized return of 4.73%, while the S&P 500 had an annualized return of 11.39%, indicating that PGIM High Yield Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 7.86% | 25.45% |
| 1 month | 0.36% | 2.91% |
| 6 months | 6.50% | 14.05% |
| 1 year | 15.19% | 35.64% |
| 5 years (annualized) | 3.82% | 14.13% |
| 10 years (annualized) | 4.73% | 11.39% |
Monthly Returns
The table below presents the monthly returns of PBHAX, 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 | -0.04% | 0.34% | 1.24% | -1.12% | 1.23% | 0.96% | 2.09% | 1.39% | 2.01% | -0.67% | 7.86% | ||
| 2023 | 3.24% | -1.41% | 1.14% | 1.20% | -0.93% | 1.21% | 1.64% | 0.15% | -1.47% | -1.50% | 4.42% | 3.89% | 11.97% |
| 2022 | -2.49% | -1.09% | -1.23% | -3.66% | 0.53% | -6.36% | 5.25% | -2.13% | -4.36% | 2.15% | 2.12% | -0.69% | -11.84% |
| 2021 | 0.64% | 0.42% | 0.31% | 1.36% | 0.45% | 0.98% | 0.43% | 0.59% | 0.04% | -0.13% | -1.23% | 1.01% | 4.96% |
| 2020 | -0.37% | -1.36% | -12.74% | 4.36% | 5.06% | 0.67% | 4.61% | 1.05% | -0.65% | 0.10% | 3.70% | 1.63% | 4.86% |
| 2019 | 4.48% | 1.43% | 1.10% | 1.80% | -1.08% | 2.72% | 0.51% | 0.37% | 0.62% | -0.03% | 0.70% | 2.34% | 15.89% |
| 2018 | 0.67% | -0.63% | -0.58% | 0.48% | 0.13% | 0.50% | 1.06% | 0.93% | 0.24% | -1.53% | -0.78% | -1.98% | -1.53% |
| 2017 | 1.45% | 1.75% | -0.34% | 1.04% | 1.25% | -0.18% | 1.35% | -0.05% | 0.67% | 0.49% | -0.43% | 0.33% | 7.54% |
| 2016 | -1.62% | 0.53% | 4.42% | 3.10% | 0.53% | 0.73% | 2.64% | 1.83% | 0.74% | 0.13% | -0.77% | 2.03% | 15.09% |
| 2015 | 0.19% | 2.47% | -0.21% | 1.04% | 0.34% | -1.28% | 0.02% | -1.17% | -2.30% | 2.47% | -1.74% | -2.53% | -2.82% |
| 2014 | 0.54% | 2.06% | 0.17% | 0.50% | 1.04% | 0.84% | -1.37% | 1.55% | -2.10% | 1.26% | -0.40% | -1.42% | 2.63% |
| 2013 | 1.26% | 0.51% | 0.89% | 1.91% | -0.66% | -2.59% | 1.79% | -0.68% | 1.07% | 2.51% | 0.35% | 0.54% | 7.00% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of PBHAX is 89, placing it in the top 11% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for PGIM High Yield Fund (PBHAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
PGIM High Yield Fund provided a 7.12% dividend yield over the last twelve months, with an annual payout of $0.34 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 | $0.34 | $0.32 | $0.31 | $0.29 | $0.31 | $0.33 | $0.32 | $0.33 | $0.34 | $0.34 | $0.35 | $0.37 |
Dividend yield | 7.12% | 6.77% | 6.74% | 5.25% | 5.70% | 5.99% | 6.27% | 6.01% | 6.20% | 6.65% | 6.37% | 6.39% |
Monthly Dividends
The table displays the monthly dividend distributions for PGIM High Yield 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 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.27 | |
| 2023 | $0.03 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.03 | $0.05 | $0.32 |
| 2022 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.31 |
| 2021 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.29 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.31 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2014 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
| 2013 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
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 High Yield 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 High Yield Fund was 28.75%, occurring on Dec 15, 2008. Recovery took 161 trading sessions.
The current PGIM High Yield Fund drawdown is 0.46%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -28.75% | May 22, 2008 | 143 | Dec 15, 2008 | 161 | Aug 6, 2009 | 304 |
| -21.14% | Feb 24, 2020 | 21 | Mar 23, 2020 | 142 | Oct 13, 2020 | 163 |
| -19.33% | Jul 24, 1998 | 1069 | Oct 10, 2002 | 160 | Jun 2, 2003 | 1229 |
| -16.17% | Nov 10, 2021 | 221 | Sep 27, 2022 | 424 | Jun 5, 2024 | 645 |
| -14.77% | Jul 24, 1990 | 64 | Oct 19, 1990 | 110 | Mar 22, 1991 | 174 |
Volatility
Volatility Chart
The current PGIM High Yield Fund volatility is 0.76%, 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.