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PGIM National Muni Fund (PRNMX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

PGIM National Muni Fund (PRNMX)

Mutual Fund · Currency in USD · Last updated May 31, 2025

The fund invests normally at least 80% of the fund's investable assets in obligations the income from which is exempt from federal income tax, that is, municipal obligations. It, under normal conditions, invests at least 70% of its investable assets in "investment grade" municipal debt obligations. The fund, under normal conditions, may also invest up to 30% of its investable assets in high yield municipal debt obligations or junk bonds.

Fund Info

ISIN

US74441U1051

CUSIP

74441U105

Issuer

PGIM Investments

Inception Date

Jan 21, 1990

Category

Municipal Bonds

Min. Investment

$1,000

Asset Class

Bond

Expense Ratio

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

Share Price Chart

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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

PGIM National Muni Fund

Popular comparisons:
PRNMX vs. BBMUX PRNMX vs. VTEB
Popular comparisons:
PRNMX vs. BBMUX PRNMX vs. VTEB

Performance

Performance Chart

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S&P 500

Returns By Period

PGIM National Muni Fund (PRNMX) returned -0.28% year-to-date (YTD) and 2.48% over the past 12 months. Over the past 10 years, PRNMX returned 1.93% annually, underperforming the S&P 500 benchmark at 10.85%.

PRNMX

YTD

-0.28%

1M

0.00%

6M

-1.22%

1Y

2.48%

3Y*

2.06%

5Y*

0.96%

10Y*

1.93%

^GSPC (Benchmark)

YTD

0.51%

1M

6.15%

6M

-2.00%

1Y

12.92%

3Y*

12.68%

5Y*

14.19%

10Y*

10.85%

*Annualized

Monthly Returns

The table below presents the monthly returns of PRNMX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.55%0.81%-1.09%-0.53%0.00%-0.28%
2024-0.19%0.22%0.10%-0.70%-0.19%1.12%0.83%0.68%0.81%-1.17%1.19%-0.95%1.73%
20232.16%-1.70%1.59%-0.17%-0.59%0.85%0.49%-0.80%-1.77%-0.44%4.21%1.76%5.57%
2022-2.75%-0.47%-3.12%-2.39%0.97%-1.06%1.99%-1.61%-2.81%-0.72%3.15%0.48%-8.25%
20210.77%-1.53%0.57%0.69%0.30%0.22%0.80%-0.30%-0.78%-0.38%0.61%0.21%1.16%
20202.04%1.64%-5.89%-1.74%2.82%1.71%1.96%-0.26%-0.13%-0.27%1.46%0.97%4.08%
20190.56%0.53%1.79%0.47%1.41%0.35%0.59%1.80%-0.76%0.06%0.19%0.22%7.43%
2018-0.99%-0.49%0.43%-0.35%1.12%0.14%0.28%0.17%-0.64%-0.82%0.85%0.96%0.63%
20170.44%0.61%0.12%0.67%1.31%-0.23%0.60%0.75%-0.38%-0.06%-0.25%1.03%4.70%
20160.89%0.08%0.50%0.69%0.55%1.78%-0.17%0.22%-0.48%-1.10%-3.58%1.06%0.32%
20151.82%-0.89%0.16%-0.56%-0.29%-0.36%0.66%0.03%0.69%0.51%0.52%0.70%3.01%
20142.35%1.32%0.40%1.33%1.46%-0.30%0.11%1.43%0.22%0.58%0.01%0.57%9.87%
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of PRNMX is 42, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.

The Risk-Adjusted Performance Rank of PRNMX is 4242
Overall Rank
The Sharpe Ratio Rank of PRNMX is 3838
Sharpe Ratio Rank
The Sortino Ratio Rank of PRNMX is 3232
Sortino Ratio Rank
The Omega Ratio Rank of PRNMX is 5353
Omega Ratio Rank
The Calmar Ratio Rank of PRNMX is 4141
Calmar Ratio Rank
The Martin Ratio Rank of PRNMX is 4545
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for PGIM National Muni Fund (PRNMX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

PGIM National Muni Fund Sharpe ratios as of May 31, 2025 (values are recalculated daily):

  • 1-Year: 0.57
  • 5-Year: 0.33
  • 10-Year: 0.55
  • All Time: 1.16

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of PGIM National Muni Fund compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

Dividend History

PGIM National Muni Fund provided a 3.07% dividend yield over the last twelve months, with an annual payout of $0.42 per share. The fund has been increasing its distributions for 2 consecutive years.

2.00%2.50%3.00%3.50%$0.00$0.10$0.20$0.30$0.40$0.50$0.6020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.42$0.41$0.34$0.28$0.29$0.38$0.46$0.50$0.51$0.53$0.55$0.56

Dividend yield

3.07%2.94%2.40%2.04%1.88%2.50%3.07%3.43%3.43%3.59%3.61%3.64%

Monthly Dividends

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.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.04$0.03$0.04$0.04$0.00$0.14
2024$0.03$0.03$0.03$0.03$0.03$0.03$0.04$0.04$0.03$0.04$0.04$0.04$0.41
2023$0.03$0.02$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.34
2022$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.03$0.03$0.28
2021$0.03$0.03$0.03$0.03$0.03$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.29
2020$0.04$0.03$0.03$0.04$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.38
2019$0.04$0.04$0.04$0.04$0.04$0.03$0.04$0.04$0.03$0.04$0.05$0.03$0.46
2018$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.05$0.04$0.04$0.05$0.04$0.50
2017$0.04$0.04$0.05$0.04$0.04$0.05$0.04$0.04$0.04$0.04$0.04$0.04$0.51
2016$0.05$0.04$0.05$0.05$0.04$0.04$0.04$0.04$0.05$0.04$0.05$0.04$0.53
2015$0.05$0.04$0.05$0.04$0.05$0.05$0.05$0.04$0.04$0.05$0.05$0.05$0.55
2014$0.05$0.04$0.05$0.05$0.05$0.04$0.05$0.05$0.04$0.05$0.04$0.05$0.56

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 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 2.44%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-12.72%Mar 10, 202010Mar 23, 2020189Dec 18, 2020199
-12.33%Aug 5, 2021310Oct 26, 2022———
-12.19%Jan 24, 2008185Oct 16, 2008143May 13, 2009328
-9.17%Dec 10, 2012186Sep 5, 2013173May 14, 2014359
-6.98%Oct 26, 201058Jan 18, 201183May 17, 2011141
Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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