- CUSIP
- 69344A784
- Issuer
- PGIM
- Inception Date
- Dec 14, 2023
- Category
- High Yield Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $161M
Share Price Chart
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Performance
PSH Performance Chart
PGIM Short Duration High Yield ETF (PSH) is up 2.3% since the beginning of the year. PSH is currently trading at $50 per share.
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Returns By Period
PGIM Short Duration High Yield ETF (PSH) has returned 2.25% so far this year and 6.13% over the past 12 months.
PGIM Short Duration High Yield ETF
- 1D
- -0.03%
- 1M
- 0.41%
- YTD
- 2.25%
- 6M
- 2.59%
- 1Y
- 6.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
PSH Monthly Returns History
Based on dividend-adjusted daily data since Dec 19, 2023, PSH's average daily return is +0.03%, while the average monthly return is +0.56%. At this rate, an investment would double in approximately 10.3 years.
Historically, 90% of months were positive and 10% were negative. The best month was Jul 2024 with a return of +1.5%, while the worst month was Oct 2024 at -0.3%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 1 months.
On a daily basis, PSH closed higher 59% of trading days. The best single day was Apr 9, 2025 with a return of +1.8%, while the worst single day was Apr 4, 2025 at -1.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.39% | 0.01% | 0.01% | 1.44% | 0.06% | 0.32% | 2.25% | ||||||
| 2025 | 1.08% | 0.55% | -0.21% | 0.04% | 1.25% | 1.17% | 0.61% | 1.15% | 0.39% | 0.30% | 0.20% | 0.59% | 7.34% |
| 2024 | 0.15% | 0.60% | 1.05% | -0.19% | 1.08% | 0.59% | 1.46% | 0.87% | 1.44% | -0.31% | 0.97% | 0.01% | 7.96% |
| 2023 | 0.35% | 0.35% |
Benchmark Metrics
PGIM Short Duration High Yield ETF has an annualized alpha of 4.38%, beta of 0.14, and R2 of 0.45 versus S&P 500 Index. Calculated based on daily prices since December 19, 2023.
- This ETF captured 20.47% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -3.97%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.14 may look defensive, but with R2 of 0.45 this ETF 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 ETF's risk.
- R2 of 0.45 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 4.38%
- Beta
- 0.14
- R²
- 0.45
- Upside Capture
- 20.47%
- Downside Capture
- -3.97%
Expense Ratio
PSH has an expense ratio of 0.45%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PSH ranks 74 for risk / return — better than 74% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for PGIM Short Duration High Yield ETF (PSH) 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.
| PSH | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.37 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.35 | 2.78 | +1.56 |
| Martin ratioReturn relative to average drawdown | 12.86 | 12.44 | +0.42 |
Dividends
Dividend History
PGIM Short Duration High Yield ETF provided a 6.64% dividend yield over the last twelve months, with an annual payout of $3.32 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $3.32 | $3.34 | $4.19 |
Dividend yield | 6.64% | 6.62% | 8.35% |
Monthly Dividends
The table displays the monthly dividend distributions for PGIM Short Duration High Yield ETF. 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 | $0.00 | $0.24 | $0.73 | $0.23 | $0.24 | $0.00 | $1.44 | ||||||
| 2025 | $0.00 | $0.27 | $0.26 | $0.30 | $0.31 | $0.32 | $0.30 | $0.31 | $0.30 | $0.24 | $0.25 | $0.48 | $3.34 |
| 2024 | $0.33 | $0.33 | $0.38 | $0.38 | $0.39 | $0.37 | $0.38 | $0.35 | $0.29 | $0.26 | $0.72 | $4.19 |
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 Short Duration High Yield ETF. 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 Short Duration High Yield ETF was 3.06%, occurring on Apr 8, 2025. Recovery took 17 trading sessions.
The current PGIM Short Duration High Yield ETF drawdown is 0.03%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -3.06%Apr 2025 | 1mo 5d | 24d | 1mo 29dMar 2025 - May 2025 |
2025 pullback2025 | -1.42%Oct 2025 | 21d | 2mo 15d | 3mo 6dSep 2025 - Dec 2025 |
2026 pullback2026 | -1.34%Mar 2026 | 1mo 4d | 2d | 1mo 6dFeb 2026 - Apr 2026 |
2024 pullback2024 | -1.12%Jan 2024 | 7d | 21d | 28dDec 2023 - Jan 2024 |
2024 pullback2024 | -0.89%Aug 2024 | 4d | 9d | 13dAug 2024 - Aug 2024 |
Drawdown Indicators
| PSH | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.06% | -56.78% | +53.72% |
Max Drawdown (1Y)Largest decline over 1 year | -1.42% | -9.10% | +7.68% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.03% | -1.80% | +1.77% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -10.71% | +10.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 2.03% | -1.55% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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