Intermediate Core Plus Bond
High Yield Bond
PGIM Total Return Bond Fund Class Z (PDBZX)
Short-Term Corporate Bond Fund Class Z (PIFZX)
PGIM High Yield Fund Class Z (PHYZX)
PGIM Global Total Return Fund Class Z (PZTRX)
PGIM Investments: The only fund family with a 15-year top decile-ranked fund in all four of these categories.
Source: Morningstar as of 12/31/2020. Morningstar rankings are based on total return, do not include the effects of sales charges, and are calculated against all funds in each of these four respective Morningstar Categories: Intermediate Core Plus Bond, Short-Term Bond, High Yield Bond, and World Bond. Morningstar Direct filter methodology used for screen: (Top Section) Total # of Fund Families screened (788), Filter: All Fund Families with net assets greater than $1mm as of 9/30/2020 (most recent data available). (Middle Section) Total # of Fund Families with offerings in all four categories (27), Filter: Morningstar/Category equals Intermediate-Term Bond or Short-Term Bond or High Yield Bond or World Bond. Data exported to Excel, Filter: Firms ranked alphabetically, firms without a fund in each category listed above removed. (Bottom Section) Total # of Fund Families with a 15-year top-decile-ranked fund in all four categories, Filter: Repeat filter used in Middle Section, add additional criteria: (and) 15-year total return % rank in category as of 9/30/2020 less than or equal to 10th percentile. Fund Family Natixis includes Loomis Sayles; Fund Family TCW includes MetWest. Past performance is no guarantee of future results.
Did you know? Four fixed income Morningstar categories represent $1.8 trillion in assets
Assets are highly concentrated within four of Morningstar’s taxable fixed income categories—namely, Intermediate Core Plus Bond, Short-Term Bond, High Yield Bond, and World Bond.
Intermediate Core Plus Bond - $840 Billion
High Yield Bond - $378 Billion
Short-Term Bond - $533 Billion
World Bond - $56 Billion
Outperformance by the Numbers – Morningstar Rankings
The 2020 market landscape included a precipitous drop in economic activity, unprecedented volatility, and uncertain growth prospects. At the same time, massive support by global central banks has provided stability for fixed income markets, and the Fed intends to keep interest rates near zero until 2023. Against this backdrop, we are in a “golden age of credit investing” with opportunities that can help address clients’ growth, income, and capital preservation needs.