PGIM Government Income Fund (PGVAX)
The fund invests at least 80% of its investable assets in U.S. government securities, including U.S. Treasury bills, notes, bonds, strips and other debt securities issued by the U.S. Treasury, and obligations, including mortgage-related securities, issued or guaranteed by U.S. government agencies or instrumentalities. Its investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions.
Fund Info
US74439V1070
74439V107
Jan 21, 1990
$1,000
Expense Ratio
PGVAX has a high expense ratio of 1.08%, indicating above-average management fees.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
PGIM Government Income Fund (PGVAX) returned 2.23% year-to-date (YTD) and 5.42% over the past 12 months. Over the past 10 years, PGVAX returned 0.36% annually, underperforming the S&P 500 benchmark at 10.85%.
PGVAX
2.23%
-1.26%
0.48%
5.42%
0.54%
-2.28%
0.36%
^GSPC (Benchmark)
0.51%
6.15%
-2.00%
12.92%
12.68%
14.19%
10.85%
Monthly Returns
The table below presents the monthly returns of PGVAX, 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.70% | 2.36% | 0.04% | 0.40% | -1.26% | 2.23% | |||||||
| 2024 | -0.10% | -1.56% | 0.64% | -2.41% | 1.72% | 0.93% | 2.48% | 1.03% | 1.29% | -2.56% | 1.06% | -1.72% | 0.65% |
| 2023 | 3.41% | -2.50% | 2.01% | 0.49% | -1.00% | -0.51% | -0.39% | -0.51% | -2.57% | -1.69% | 4.33% | 3.63% | 4.46% |
| 2022 | -1.69% | -1.09% | -3.38% | -3.29% | 0.04% | -1.38% | 1.49% | -2.57% | -3.98% | -1.32% | 3.33% | -0.95% | -14.05% |
| 2021 | -0.58% | -1.38% | -1.49% | 0.62% | 0.03% | 0.07% | 0.84% | -0.29% | -0.90% | -0.61% | 0.24% | -0.54% | -3.93% |
| 2020 | 1.91% | 1.77% | 0.95% | 0.45% | 0.26% | 0.17% | 0.95% | -0.75% | 0.32% | -0.78% | 0.62% | -0.09% | 5.87% |
| 2019 | 0.49% | -0.17% | 1.70% | -0.13% | 1.78% | 0.79% | -0.03% | 2.37% | -0.56% | 0.05% | -0.25% | -0.26% | 5.91% |
| 2018 | -1.23% | -0.81% | 0.70% | -0.81% | 0.92% | -0.03% | -0.26% | 0.63% | -0.82% | -0.67% | 0.85% | 1.72% | 0.14% |
| 2017 | 0.11% | 0.53% | 0.01% | 0.63% | 1.23% | -0.29% | 0.22% | 0.96% | -0.65% | -0.14% | -0.25% | 0.25% | 2.62% |
| 2016 | 1.65% | 0.70% | 0.41% | 0.10% | -0.04% | 1.74% | 0.50% | -0.21% | -0.01% | -0.83% | -2.46% | 0.00% | 1.50% |
| 2015 | 1.82% | -0.91% | 0.40% | -0.21% | -0.33% | -0.94% | 0.73% | -0.11% | 0.62% | -0.25% | -0.46% | -0.34% | -0.02% |
| 2014 | 1.49% | 0.53% | -0.42% | 0.75% | 0.94% | 0.21% | -0.40% | 0.94% | -0.51% | 0.83% | 0.72% | 0.08% | 5.27% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of PGVAX is 59, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for PGIM Government Income Fund (PGVAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
PGIM Government Income Fund provided a 3.49% dividend yield over the last twelve months, with an annual payout of $0.27 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.27 | $0.27 | $0.23 | $0.18 | $0.33 | $0.17 | $0.20 | $0.19 | $0.25 | $0.15 | $0.21 | $0.12 |
Dividend yield | 3.49% | 3.48% | 2.92% | 2.31% | 3.47% | 1.66% | 2.04% | 2.04% | 2.60% | 1.52% | 2.20% | 1.23% |
Monthly Dividends
The table displays the monthly dividend distributions for PGIM Government 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 | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.09 | |||||||
| 2024 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2023 | $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 |
| 2022 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.18 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.18 | $0.33 |
| 2020 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.17 |
| 2019 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.20 |
| 2018 | $0.01 | $0.01 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.19 |
| 2017 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.01 | $0.25 |
| 2016 | $0.01 | $0.01 | $0.01 | $0.01 | $0.05 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.15 |
| 2015 | $0.01 | $0.01 | $0.01 | $0.01 | $0.12 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.21 |
| 2014 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.12 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the PGIM Government 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 Government Income Fund was 21.59%, occurring on Oct 19, 2023. The portfolio has not yet recovered.
The current PGIM Government Income Fund drawdown is 12.04%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -21.59% | Aug 5, 2020 | 808 | Oct 19, 2023 | — | — | — |
| -7.45% | Jan 31, 1994 | 201 | Nov 7, 1994 | 99 | Mar 24, 1995 | 300 |
| -6.14% | Jan 9, 1992 | 47 | Mar 13, 1992 | 93 | Jul 22, 1992 | 140 |
| -5.95% | Oct 6, 1998 | 188 | Jun 24, 1999 | 261 | Jun 29, 2000 | 449 |
| -5.57% | Feb 14, 1996 | 86 | Jun 12, 1996 | 99 | Oct 29, 1996 | 185 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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