PGIM High Yield Fund Class Z
PHYZX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Newark, NJ 07102 Newark NJ United States of America 07102
- IPO Date
- Feb 29, 1996
- CIK
- 0000278187
- Website
- pgim.com
- Similar Companies
- Business
- PGIM High Yield Fund Class Z (PHYZX) is an open-end mutual fund that seeks to maximize current income by investing at least 80% of its investable assets in a diversified portfolio of high yield fixed-income instruments rated Ba or lower by Moody's Investors Service or BB or lower by S&P Global Ratings, or comparably rated by another nationally recognized statistical rating organization, commonly known as junk bonds; capital appreciation serves as a secondary objective consistent with the primary goal of income generation. The fund offers multiple share classes including A, C, R, R2, R4, R6, and Z (PHYZX), with Class Z featuring a net expense ratio of 0.51%, no front-end or deferred loads, and a minimum initial investment of $0; it maintains an average maturity of 5.1 years, duration of 2.8 years, and holds approximately 897 securities across sectors such as health care & pharmaceuticals (7.1%), telecom (6.8%), building materials & home construction (6.5%), gaming & lodging (6.4%), and energy midstream (5.8%), with credit quality distributed as BB (46.1%), B (22.3%), CCC (10.3%), and significant U.S. Treasury exposure (AAA-rated at 8.9%). Geographically, the fund concentrates primarily in the United States (88.0%), with additional exposure to Canada (4.4%), the United Kingdom (1.5%), France (1.3%), and emerging markets including Jamaica (1.1%) and Zambia (0.5%); it operates within the high yield bond category, targeting institutional and individual investors seeking higher income with elevated credit risk. Launched on February 29, 1996 (or March 1, 1996 per some records), the fund is managed by PGIM Investments LLC, an indirect wholly-owned subsidiary of PGIM, the global investment management business of Prudential Financial, Inc., with principal operations based in Newark, New Jersey. As of late 2025, total net assets exceed $21 billion, with Class Z assets at approximately $8.74 billion and a 30-day SEC yield of 6.26%. In recent developments, PGIM, the fund's parent organization, entered a strategic partnership with Partners Group in September 2025 to deliver multi-asset portfolio solutions spanning public and private markets, enhancing its alternatives offerings amid fixed income normalization; additionally, PGIM strengthened its private credit capabilities through a May 2023 agreement to acquire a majority interest in Deerpath Capital Management, adding lower middle-market direct lending expertise to PGIM Private Capital.