PGIM Short Duration Multi-Sector Bond Fund (SDMZX)

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PGIM Short Duration Multi-Sector Bond Fund (SDMZX) is up 0.9% since the beginning of the year. SDMZX is currently trading at $9 per share. Investors who bought $1,000 worth of SDMZX shares 5 years ago would now be looking at an investment worth $1,146.

PGIM Short Duration Multi-Sector Bond Fund (SDMZX) has returned 0.92% so far this year and 4.79% over the past 12 months. Over the last ten years, SDMZX has returned 3.10% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Jan 2, 2014, SDMZX's average daily return is +0.01%, while the average monthly return is +0.24%. At this rate, an investment would double in approximately 24.1 years.

Historically, 71% of months were positive and 29% were negative. The best month was May 2020 with a return of +2.0%, while the worst month was Mar 2020 at -5.8%. The longest winning streak lasted 16 consecutive months, and the longest losing streak was 4 months.

On a daily basis, SDMZX closed higher 28% of trading days. The best single day was May 29, 2026 with a return of +1.9%, while the worst single day was Mar 18, 2020 at -1.7%.

PGIM Short Duration Multi-Sector Bond Fund has an annualized alpha of 2.64%, beta of 0.02, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since January 02, 2014.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (12.57%) than losses (8.55%) - typical of diversified or defensive assets.
• Beta of 0.02 may look defensive, but with R2 of 0.02 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 0.02 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.

SDMZX has an expense ratio of 0.46%, placing it in the medium range.

SDMZX ranks 53 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

PGIM Short Duration Multi-Sector Bond Fund provided a 4.70% 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.

The table displays the monthly dividend distributions for PGIM Short Duration Multi-Sector Bond 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 Short Duration Multi-Sector Bond 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 Short Duration Multi-Sector Bond Fund was 9.76%, occurring on Mar 23, 2020. Recovery took 91 trading sessions.

The current PGIM Short Duration Multi-Sector Bond Fund drawdown is 1.66%.

The chart below shows the rolling one-month volatility.