- ISIN
- US74439A8716
- CUSIP
- 74439A871
- Issuer
- PGIM
- Inception Date
- Dec 11, 2017
- Category
- Global Bonds
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
PHEZX Performance Chart
PGIM Global Total Return (USD Hedged) Fund (PHEZX) is up 1.1% since the beginning of the year. PHEZX is currently trading at $9 per share. Investors who bought $1,000 worth of PHEZX shares 5 years ago would now be looking at an investment worth $1,041.
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Returns By Period
PGIM Global Total Return (USD Hedged) Fund (PHEZX) has returned 1.13% so far this year and 4.90% over the past 12 months.
PGIM Global Total Return (USD Hedged) Fund
- 1D
- 0.11%
- 1M
- 1.53%
- YTD
- 1.13%
- 6M
- 1.59%
- 1Y
- 4.90%
- 3Y*
- 6.29%
- 5Y*
- 0.80%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
PHEZX Monthly Returns History
Based on dividend-adjusted daily data since Dec 12, 2017, PHEZX's average daily return is +0.01%, while the average monthly return is +0.22%. At this rate, an investment would double in approximately 26.3 years.
Historically, 61% of months were positive and 39% were negative. The best month was Nov 2023 with a return of +4.2%, while the worst month was Mar 2020 at -7.1%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 6 months.
On a daily basis, PHEZX closed higher 45% of trading days. The best single day was Nov 10, 2022 with a return of +1.5%, while the worst single day was Mar 18, 2020 at -3.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.32% | 1.80% | -2.70% | 0.82% | 0.71% | 0.23% | 1.13% | ||||||
| 2025 | 0.81% | 1.52% | -0.35% | 1.05% | 0.00% | 1.27% | 0.22% | 1.17% | 0.70% | 1.03% | 0.09% | -0.45% | 7.27% |
| 2024 | 0.12% | -0.13% | 1.06% | -1.23% | 1.02% | 0.67% | 1.90% | 1.15% | 1.12% | -1.39% | 1.20% | -1.01% | 4.50% |
| 2023 | 3.14% | -1.36% | 1.50% | 0.49% | 0.15% | 1.12% | 0.62% | -0.08% | -1.71% | -1.38% | 4.21% | 3.65% | 10.63% |
| 2022 | -2.49% | -3.60% | -2.50% | -4.44% | -0.59% | -3.38% | 2.78% | -2.73% | -4.03% | -0.11% | 3.56% | -0.41% | -16.87% |
| 2021 | -1.31% | -3.28% | -1.03% | 0.51% | 0.43% | 1.30% | 1.50% | -0.08% | -1.75% | -0.46% | 0.51% | 0.02% | -3.69% |
Benchmark Metrics
PGIM Global Total Return (USD Hedged) Fund has an annualized alpha of 1.87%, beta of 0.05, and R2 of 0.05 versus S&P 500 Index. Calculated based on daily prices since December 12, 2017.
- This fund participated in 23.95% of S&P 500 Index downside but only 16.44% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.05 may look defensive, but with R2 of 0.05 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.05 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 1.87%
- Beta
- 0.05
- R²
- 0.05
- Upside Capture
- 16.44%
- Downside Capture
- 23.95%
Expense Ratio
PHEZX has an expense ratio of 0.63%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PHEZX ranks 24 for risk / return — below 24% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for PGIM Global Total Return (USD Hedged) Fund (PHEZX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PHEZX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 2.78 | -1.37 |
| Martin ratioReturn relative to average drawdown | 4.23 | 12.44 | -8.21 |
Dividends
Dividend History
PGIM Global Total Return (USD Hedged) Fund provided a 4.10% dividend yield over the last twelve months, with an annual payout of $0.36 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.36 | $0.36 | $0.32 | $0.31 | $0.36 | $0.31 | $0.34 | $0.45 | $0.56 | $0.01 |
Dividend yield | 4.10% | 4.09% | 3.80% | 3.62% | 4.59% | 3.06% | 3.17% | 4.44% | 5.96% | 0.13% |
Monthly Dividends
The table displays the monthly dividend distributions for PGIM Global Total Return (USD Hedged) 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.15 | ||||||
| 2025 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.03 | $0.32 |
| 2023 | $0.03 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.31 |
| 2022 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.00 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.13 | $0.36 |
| 2021 | $0.00 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.08 | $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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the PGIM Global Total Return (USD Hedged) 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 Global Total Return (USD Hedged) Fund was 23.83%, occurring on Oct 21, 2022. Recovery took 827 trading sessions.
The current PGIM Global Total Return (USD Hedged) Fund drawdown is 0.98%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -23.83%Oct 2022 | 1y 9mo | 3y 3mo | 5y 1moJan 2021 - Feb 2026 |
COVID crash2020 | -11.67%Mar 2020 | 10d | 3mo 29d | 4mo 9dMar 2020 - Jul 2020 |
2026 pullback2026 | -3.49%Mar 2026 | 25d | — | 3mo 23dMar 2026 - now |
Rate-hike selloffLate 2018 | -3.47%Oct 2018 | 9mo 25d | 2mo 25d | 1y 15dDec 2017 - Jan 2019 |
2019 pullback2019 | -1.90%Sep 2019 | 8d | 20d | 28dSep 2019 - Oct 2019 |
Drawdown Indicators
| PHEZX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.83% | -56.78% | +32.95% |
Max Drawdown (1Y)Largest decline over 1 year | -3.49% | -9.10% | +5.61% |
Max Drawdown (3Y)Largest decline over 3 years | -3.49% | -18.90% | +15.41% |
Max Drawdown (5Y)Largest decline over 5 years | -22.53% | -25.43% | +2.90% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.98% | -1.80% | +0.82% |
Average DrawdownAverage peak-to-trough decline | -6.39% | -10.71% | +4.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 2.03% | -0.87% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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