About PHYEX
PGIM High Yield Fund - Class R2 is a mutual fund designed to maximize current income through investments primarily in high-yield bonds rated Ba or lower by Moody's or BB or lower by S&P, with capital appreciation as a secondary objective. It normally allocates at least 80% of its assets to these non-investment grade securities, offering exposure to sectors such as health care, telecom, building materials, gaming, energy midstream, and consumer non-cyclical industries. Key portfolio characteristics include an average maturity of 5.1 years, duration of 2.8 years, and a three-year standard deviation of 5.00, reflecting moderate interest rate sensitivity and volatility. The fund maintains a credit quality profile dominated by BB (46.1%) and B (22.3%) rated bonds, with significant U.S. geographic concentration at 88%. Featuring a net expense ratio of 0.91% and low distribution fees, it supports higher income potential for investors tolerant of credit risk, contributing to the high-yield bond segment of fixed income markets. Total net assets for this share class stand around $26 million, part of a larger fund family exceeding $21 billion.
Fund Family PGIM
Category High Yield Bond
Performance Rating Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol PHYEX
Share Class Class R2
Index Bloomberg US High Yield 1% Issuer TR
PHYEX had a total return of 4.29% in the past year, including dividends. Since the fund's
inception, the average annual return has been 4.36%.
