PGIM Muni High Income Fund (PRHAX)
The investment seeks to provide the maximum amount of income that is eligible for exclusion from federal income taxes. The fund normally invests at least 80% of its investable assets (net assets plus any borrowing for investment purposes) in municipal bonds, which are fixed-income securities issued by states and municipalities whose income is free from regular federal income tax. Its investments may include certain municipal bonds, the interest on which is subject to the federal alternative minimum tax (AMT).
Fund Info
US74440M1045
74440M104
Jan 21, 1990
$1,000
Expense Ratio
PRHAX has an expense ratio of 0.81%, placing it in the medium range.
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 Muni High Income Fund (PRHAX) returned -1.82% year-to-date (YTD) and 2.52% over the past 12 months. Over the past 10 years, PRHAX returned 2.48% annually, underperforming the S&P 500 benchmark at 10.85%.
PRHAX
-1.82%
-0.43%
-3.62%
2.52%
2.23%
1.94%
2.48%
^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 PRHAX, 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 | 0.64% | 0.82% | -1.56% | -1.27% | -0.43% | -1.82% | |||||||
| 2024 | -0.44% | 0.73% | 0.85% | -0.96% | 0.54% | 2.04% | 1.30% | 0.75% | 1.05% | -1.44% | 2.11% | -1.84% | 4.70% |
| 2023 | 3.77% | -2.53% | 1.76% | 0.30% | -0.78% | 1.63% | 0.74% | -1.42% | -3.12% | -1.49% | 7.33% | 2.73% | 8.76% |
| 2022 | -2.76% | -0.55% | -3.70% | -3.53% | 0.28% | -2.97% | 2.76% | -1.83% | -5.32% | -2.09% | 5.57% | -0.24% | -13.91% |
| 2021 | 1.68% | -1.62% | 0.93% | 1.10% | 0.72% | 0.89% | 0.89% | -0.40% | -0.88% | -0.40% | 1.27% | 0.16% | 4.37% |
| 2020 | 2.20% | 1.67% | -8.64% | -2.93% | 3.57% | 3.44% | 2.55% | -0.29% | -0.21% | -0.03% | 2.19% | 1.61% | 4.57% |
| 2019 | 0.53% | 0.70% | 2.12% | 0.51% | 1.50% | 0.46% | 0.71% | 2.05% | -0.57% | 0.24% | -0.15% | 0.28% | 8.66% |
| 2018 | -0.84% | -0.39% | 0.73% | -0.09% | 1.21% | 0.32% | 0.21% | 0.35% | -0.70% | -1.16% | 0.22% | 0.92% | 0.76% |
| 2017 | 0.97% | 1.01% | 0.36% | 0.81% | 1.62% | -0.05% | 0.68% | 1.00% | -0.07% | 0.02% | -0.18% | 1.20% | 7.60% |
| 2016 | 0.93% | 0.13% | 0.92% | 0.91% | 0.81% | 1.94% | 0.10% | 0.31% | -0.24% | -1.31% | -5.07% | 0.89% | 0.14% |
| 2015 | 2.03% | -0.74% | 0.44% | -0.34% | 0.07% | -0.72% | 0.69% | 0.25% | 0.85% | 0.57% | 0.20% | 0.94% | 4.29% |
| 2014 | 2.77% | 1.94% | 0.72% | 1.72% | 2.20% | -0.14% | 0.17% | 1.67% | 0.65% | 0.79% | 0.38% | 0.84% | 14.56% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of PRHAX is 26, 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 Muni High Income Fund (PRHAX) 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 Muni High Income Fund provided a 4.01% dividend yield over the last twelve months, with an annual payout of $0.37 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 | $0.37 | $0.36 | $0.33 | $0.31 | $0.32 | $0.36 | $0.39 | $0.40 | $0.41 | $0.41 | $0.43 | $0.46 |
Dividend yield | 4.01% | 3.85% | 3.55% | 3.50% | 2.96% | 3.42% | 3.69% | 3.98% | 3.93% | 4.12% | 4.21% | 4.51% |
Monthly Dividends
The table displays the monthly dividend distributions for PGIM Muni High 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 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.12 | |||||||
| 2024 | $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 |
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2022 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.31 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.36 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.03 | $0.39 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.05 | $0.03 | $0.40 |
| 2017 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.41 |
| 2016 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.41 |
| 2015 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.43 |
| 2014 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.46 |
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 Muni High 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 Muni High Income Fund was 18.98%, occurring on Oct 26, 2022. The portfolio has not yet recovered.
The current PGIM Muni High Income Fund drawdown is 4.07%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -18.98% | Aug 4, 2021 | 311 | Oct 26, 2022 | — | — | — |
| -18.34% | Jan 24, 2008 | 226 | Dec 15, 2008 | 191 | Sep 18, 2009 | 417 |
| -16.47% | Mar 2, 2020 | 15 | Mar 20, 2020 | 187 | Dec 15, 2020 | 202 |
| -11.01% | May 3, 2013 | 90 | Sep 10, 2013 | 167 | May 9, 2014 | 257 |
| -8.12% | Nov 3, 2010 | 52 | Jan 18, 2011 | 89 | May 25, 2011 | 141 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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