PGIM Global Total Return (USD Hedged) Fund (PHEZX)

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The chart shows the growth of an initial investment of $10,000 in PGIM Global Total Return (USD Hedged) Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

PGIM Global Total Return (USD Hedged) Fund (PHEZX) has returned -1.21% so far this year and 3.92% over the past 12 months.

Based on dividend-adjusted daily data since Dec 12, 2017, PHEZX's average daily return is +0.01%, while the average monthly return is +0.20%. At this rate, your investment would double in approximately 28.9 years.

Historically, 60% of months were positive and 40% 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%.

PGIM Global Total Return (USD Hedged) Fund has an annualized alpha of 1.77%, beta of 0.05, and R² of 0.04 versus S&P 500 Index. Calculated based on daily prices since December 13, 2017.

• This fund participated in 24.48% of S&P 500 Index downside but only 17.07% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.05 may look defensive, but with R² of 0.04 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 0.04 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.

PHEZX has an expense ratio of 0.63%, placing it in the medium range.

PHEZX ranks 65 for risk / return — better than 65% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

The table below present risk-adjusted performance metrics for PGIM Global Total Return (USD Hedged) Fund (PHEZX) and compare them to a chosen benchmark (S&P 500 Index).

PGIM Global Total Return (USD Hedged) Fund provided a 3.78% dividend yield over the last twelve months, with an annual payout of $0.33 per share. The fund has been increasing its distributions for 2 consecutive years.

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.

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.

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 3.26%.

The chart below shows the rolling one-month volatility.