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Morningstar

PGIM Muni High Income Z PHIZX

Morningstar Analyst Rating
Analyst rating as of | See PGIM Investment Hub
  • NAV / 1-Day Return 9.29  /  0.20 %
  • Total Assets 723.1 Mil
  • Adj. Expense Ratio
    0.580%
  • Expense Ratio 0.580%
  • Distribution Fee Level Average
  • Share Class Type Institutional
  • Category High Yield Muni
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 3.65%
  • Effective Duration 8.35 years

USD | NAV as of Feb 03, 2023 | 1-Day Return as of Feb 03, 2023, 11:15 PM GMT+00:00

Morningstar’s Analysis PHIZX

Will PHIZX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PHIZX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the PHIZX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of PHIZX’s parent organization’s priorities and whether they’re in line with investors’ interests.

This fund's new manager will take time to assess.

Senior Analyst

Summary

| by Mike Mulach

PGIM Muni High Income lost its lead manager and head of municipal bonds, Susan Courtney, at the end of 2021. That was a material loss for the strategy, and it will take time to assess Courtney’s less-experienced replacement, Jason Appleson. The strategy continues to sport Morningstar Analyst Ratings of Neutral on its cheaper share classes, while its most expensive share class is rated Negative.

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