PGIM National Muni Fund (PRNMX)

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The chart shows the growth of an initial investment of $10,000 in PGIM National Muni 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 National Muni Fund (PRNMX) has returned -0.54% so far this year and 4.11% over the past 12 months. Over the last ten years, PRNMX has returned 1.89% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Jan 2, 1991, PRNMX's average daily return is +0.02%, while the average monthly return is +0.36%. At this rate, your investment would double in approximately 16.1 years.

Historically, 65% of months were positive and 35% were negative. The best month was Feb 1993 with a return of +4.2%, while the worst month was Mar 2020 at -5.9%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 4 months.

On a daily basis, PRNMX closed higher 41% of trading days. The best single day was Mar 25, 2020 with a return of +3.2%, while the worst single day was Mar 19, 2020 at -3.1%.

PGIM National Muni Fund has an annualized alpha of 4.37%, beta of 0.00, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since January 03, 1991.

• This fund captured 14.68% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -0.44%) — a profile typical of hedging or uncorrelated assets.
• Beta of 0.00 may look defensive, but with R² of 0.00 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 0.00 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.

PRNMX has an expense ratio of 0.61%, placing it in the medium range.

PRNMX 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 National Muni Fund (PRNMX) and compare them to a chosen benchmark (S&P 500 Index).

PGIM National Muni Fund provided a 3.23% dividend yield over the last twelve months, with an annual payout of $0.45 per share. The fund has been increasing its distributions for 3 consecutive years.

The table displays the monthly dividend distributions for PGIM National Muni 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 National Muni 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 National Muni Fund was 12.72%, occurring on Mar 23, 2020. Recovery took 189 trading sessions.

The current PGIM National Muni Fund drawdown is 2.59%.

The chart below shows the rolling one-month volatility.