The six taxable PGIM bond strategies under Morningstar analyst coverage have mostly had a rough ride since the coronavirus crisis began thrashing global bond markets. But while the pain has been worse than that felt by comparable peers' in some cases, it has yet to rank as surprising or catastrophic given the funds' underlying strategies. We continue to monitor them as events unfold, but we are not currently electing to change any of the Morningstar Analyst Ratings for PGIM Short Duration High Yield HYSZX, PGIM Global Total Return PZTRX, PGIM Short-Term Corporate PIFZX, PGIM Absolute Return PADZX, PGIM High Yield PHYZX, or PGIM Total Return PDBZX.
Will PHYQX outperform in future?
Get our overall rating based on a fundamental assessment of the pillar’s below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PHYQX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the PHYQX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of PHYQX’s parent organization’s priorities and whether they’re in line with investors’ interests.
The Price Pillar compares PHYQX’s fees to similar funds, determining whether or not the fund provides a good value proposition.
The Performance Pillar is our evaluation of whether PHYQX’s returns have been the result of chance or a proven, long-term process and compares the fund with its category or benchmark.