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
| ISIN | US74439V1070 |
|---|---|
| CUSIP | 74439V107 |
| Issuer | PGIM Investments |
| Inception Date | Jan 21, 1990 |
| Category | Government Bonds |
| Min. Investment | $1,000 |
| Asset Class | Bond |
Expense Ratio
PGVAX has a high expense ratio of 1.08%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in PGIM Government 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 Government Income Fund had a return of -1.40% year-to-date (YTD) and 0.41% in the last 12 months. Over the past 10 years, PGIM Government Income Fund had an annualized return of 0.09%, while the S&P 500 had an annualized return of 10.90%, indicating that PGIM Government Income Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | -1.40% | 11.05% |
| 1 month | 2.24% | 4.86% |
| 6 months | 3.40% | 17.50% |
| 1 year | 0.41% | 27.37% |
| 5 years (annualized) | -1.41% | 13.14% |
| 10 years (annualized) | 0.09% | 10.90% |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.10% | -1.56% | 0.64% | -2.42% | -1.40% | ||||||||
| 2023 | 3.40% | -2.50% | 2.01% | 0.48% | -1.01% | -0.51% | -0.39% | -0.51% | -2.56% | -1.70% | 4.33% | 3.63% | 4.45% |
| 2022 | -1.69% | -1.09% | -3.38% | -3.29% | 0.04% | -1.39% | 1.49% | -2.56% | -3.98% | -1.33% | 3.32% | -0.95% | -14.06% |
| 2021 | -0.58% | -1.38% | -1.49% | 0.62% | 0.03% | 0.07% | 0.85% | -0.28% | -0.90% | -0.61% | 0.24% | -0.53% | -3.92% |
| 2020 | 1.91% | 1.77% | 0.95% | 0.45% | 0.25% | 0.17% | 0.94% | -0.75% | 0.32% | -0.78% | 0.61% | -0.09% | 5.87% |
| 2019 | 0.49% | -0.17% | 1.70% | -0.12% | 1.78% | 0.79% | -0.03% | 2.36% | -0.56% | 0.05% | -0.25% | -0.26% | 5.90% |
| 2018 | -1.23% | -0.81% | 0.70% | -0.82% | 0.91% | -0.04% | -0.26% | 0.62% | -0.82% | -0.67% | 0.86% | 1.72% | 0.12% |
| 2017 | 0.11% | 0.52% | 0.01% | 0.63% | 0.72% | -0.29% | 0.22% | 0.96% | -0.65% | -0.13% | -0.26% | 0.26% | 2.09% |
| 2016 | 1.65% | 0.70% | 0.41% | 0.10% | -0.13% | 1.74% | 0.50% | -0.21% | -0.01% | -0.83% | -2.46% | 0.00% | 1.41% |
| 2015 | 1.82% | -0.91% | 0.40% | -0.21% | -0.43% | -0.94% | 0.73% | -0.11% | 0.62% | -0.25% | -0.46% | -0.33% | -0.12% |
| 2014 | 1.49% | 0.53% | -0.42% | 0.75% | 0.94% | 0.21% | -0.39% | 0.94% | -0.51% | 0.83% | 0.71% | 0.08% | 5.27% |
| 2013 | -0.44% | 0.38% | 0.16% | 0.76% | -1.79% | -1.42% | -0.06% | -0.49% | 0.99% | 0.51% | -0.39% | -0.85% | -2.64% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of PGVAX is 3, indicating that it is in the bottom 3% 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.
PGVAX (PGIM Government Income Fund)
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.
Dividends
Dividend History
PGIM Government Income Fund granted a 3.20% dividend yield in the last twelve months. The annual payout for that period amounted to $0.25 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.25 | $0.23 | $0.18 | $0.33 | $0.17 | $0.20 | $0.19 | $0.20 | $0.14 | $0.20 | $0.12 | $0.21 |
Dividend yield | 3.20% | 2.91% | 2.31% | 3.49% | 1.65% | 2.03% | 2.01% | 2.07% | 1.43% | 2.10% | 1.23% | 2.29% |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.02 | $0.03 | $0.02 | $0.02 | $0.00 | $0.09 | |||||||
| 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 | $0.01 | $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 | $0.01 | $0.02 | $0.02 | $0.02 | $0.20 |
| 2018 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $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 | $0.06 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.01 | $0.20 |
| 2016 | $0.01 | $0.01 | $0.01 | $0.01 | $0.04 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.14 |
| 2015 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.20 |
| 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 |
| 2013 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.06 | $0.01 | $0.01 | $0.21 |
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 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 21.58%, occurring on Oct 19, 2023. The portfolio has not yet recovered.
The current PGIM Government Income Fund drawdown is 15.71%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -21.58% | 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 |
| -5.94% | Oct 6, 1998 | 188 | Jun 24, 1999 | 277 | Jul 25, 2000 | 465 |
| -5.57% | Feb 14, 1996 | 86 | Jun 12, 1996 | 99 | Oct 29, 1996 | 185 |
Volatility
Volatility Chart
The current PGIM Government Income Fund volatility is 1.38%, 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.