- ISIN
- US74440Y8848
- Issuer
- PGIM
- Inception Date
- Oct 31, 2011
- Category
- High Yield Bonds
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
PHYQX Performance Chart
PGIM High Yield Fund Class R6 (PHYQX) is up 1.4% since the beginning of the year. PHYQX is currently trading at $5 per share. Investors who bought $1,000 worth of PHYQX shares 5 years ago would now be looking at an investment worth $1,205.
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Returns By Period
PGIM High Yield Fund Class R6 (PHYQX) has returned 1.37% so far this year and 4.26% over the past 12 months. Over the last ten years, PHYQX has returned 5.51% per year, falling short of the S&P 500 Index benchmark, which averaged 13.49% annually.
PGIM High Yield Fund Class R6
- 1D
- 0.21%
- 1M
- -0.84%
- 6M
- 0.78%
- YTD
- 1.37%
- 1Y
- 4.26%
- 3Y*
- 8.40%
- 5Y*
- 3.80%
- 10Y*
- 5.51%
- ALL TIME*
- 5.77%
Benchmark (S&P 500 Index)
- 1D
- 1.79%
- 1M
- 3.38%
- 6M
- 11.83%
- YTD
- 13.02%
- 1Y
- 22.22%
- 3Y*
- 19.99%
- 5Y*
- 11.80%
- 10Y*
- 13.49%
- ALL TIME*
- 8.15%
PHYQX Monthly Returns History
Based on dividend-adjusted daily data since Oct 31, 2011, PHYQX's average daily return is +0.02%, while the average monthly return is +0.48%. At this rate, an investment would double in approximately 12.1 years.
Historically, 70% of months were positive and 30% were negative. The best month was May 2020 with a return of +5.1%, while the worst month was Mar 2020 at -12.7%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 4 months.
On a daily basis, PHYQX closed higher 33% of trading days. The best single day was Apr 9, 2020 with a return of +3.0%, while the worst single day was Mar 17, 2020 at -4.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.59% | 0.52% | -1.27% | 1.84% | 0.39% | 0.16% | -1.04% | 0.21% | 1.37% | ||||
| 2025 | 1.65% | 0.96% | -1.06% | -0.04% | 1.66% | 2.05% | 0.60% | 1.43% | 0.35% | 0.19% | 0.56% | 0.49% | 9.18% |
| 2024 | 0.01% | 0.39% | 1.28% | -1.10% | 1.25% | 1.00% | 2.11% | 1.43% | 2.04% | -0.63% | 0.79% | -0.27% | 8.55% |
| 2023 | 3.49% | -1.58% | 1.19% | 1.24% | -0.90% | 1.23% | 1.90% | -0.04% | -1.45% | -1.47% | 4.44% | 3.91% | 12.34% |
| 2022 | -2.46% | -0.88% | -1.39% | -3.43% | 0.34% | -6.87% | 4.77% | -2.09% | -4.32% | 2.17% | 2.14% | -0.41% | -12.22% |
| 2021 | 0.18% | 0.63% | 0.17% | 1.38% | 0.47% | 1.01% | 0.47% | 0.63% | 0.25% | -0.28% | -1.01% | 1.96% | 5.99% |
Benchmark Metrics
PGIM High Yield Fund Class R6 has an annualized alpha of 4.14%, beta of 0.13, and R2 of 0.17 versus S&P 500 Index. Calculated based on daily prices since October 31, 2011.
- This fund participated in 37.57% of S&P 500 Index downside but only 34.96% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.13 may look defensive, but with R2 of 0.17 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 0.17 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
- 4.14%
- Beta
- 0.13
- R²
- 0.17
- Upside Capture
- 34.96%
- Downside Capture
- 37.57%
Expense Ratio
PHYQX has an expense ratio of 0.38%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PHYQX ranks 46 for risk / return — above 46% of mutual funds peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for PGIM High Yield Fund Class R6 (PHYQX) 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.
| PHYQX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.31 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 2.45 | -0.64 |
| Martin ratioReturn relative to average drawdown | 7.54 | 10.40 | -2.86 |
Dividends
Dividend History
PGIM High Yield Fund Class R6 provided a 6.56% dividend yield over the last twelve months, with an annual payout of $0.31 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.31 | $0.34 | $0.36 | $0.34 | $0.29 | $0.34 | $0.36 | $0.35 | $0.34 | $0.35 | $0.27 | $0.36 |
Dividend yield | 6.56% | 7.07% | 7.53% | 7.09% | 6.29% | 6.23% | 6.56% | 6.32% | 6.64% | 6.38% | 4.88% | 7.05% |
Monthly Dividends
The table displays the monthly dividend distributions for PGIM High Yield Fund Class R6. 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 | $0.03 | $0.00 | $0.00 | $0.17 | ||||
| 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 | $0.34 |
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.05 | $0.36 |
| 2023 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.03 | $0.05 | $0.34 |
| 2022 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.00 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.05 | $0.29 |
| 2021 | $0.00 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.09 | $0.34 |
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 High Yield Fund Class R6. 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 Class R6 was 21.12%, occurring on Mar 23, 2020. Recovery took 114 trading sessions.
The current PGIM High Yield Fund Class R6 drawdown is 0.84%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-21.12%Mar 2020 | 28d | 5mo 13d | 6mo 11dFeb 2020 - Sep 2020 | COVID crash2020 |
-16.05%Sep 2022 | 8mo 27d | 1y 6mo | 2y 2moJan 2022 - Mar 2024 | Bear market2022 |
-11.07%Feb 2016 | 8mo 14d | 3mo 28d | 1y 7dJun 2015 - Jun 2016 | — |
-5.73%Dec 2014 | 3mo 13d | 2mo 16d | 5mo 29dSep 2014 - Mar 2015 | — |
-5.55%Dec 2018 | 2mo 24d | 1mo 11d | 4mo 5dOct 2018 - Feb 2019 | Rate-hike selloffLate 2018 |
Drawdown Indicators
| PHYQX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.12% | -56.78% | +35.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.47% | -9.10% | +6.63% |
Max Drawdown (3Y)Largest decline over 3 years | -3.76% | -18.90% | +15.14% |
Max Drawdown (5Y)Largest decline over 5 years | -16.05% | -25.43% | +9.38% |
Max Drawdown (10Y)Largest decline over 10 years | -21.12% | -33.92% | +12.80% |
Current DrawdownCurrent decline from peak | -0.84% | 0.00% | -0.84% |
Average DrawdownAverage peak-to-trough decline | -2.21% | -10.70% | +8.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 2.14% | -1.55% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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