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PGIM TARGET DATE INCOME FUND
mutual fund
PDAEX
Payout Change
Pending
Price as of:
$10.42
+0.0
+0.0%
primary theme
Target Date
share class
PDAEX (Mutual Fund)
PGIM TARGET DATE INCOME FUND
Payout Change
Pending
Price as of:
$10.42
+0.0
+0.0%
primary theme
Target Date
share class
PDAEX (Mutual Fund)
PGIM TARGET DATE INCOME FUND
Payout Change
Pending
Price as of:
$10.42
+0.0
+0.0%
primary theme
Target Date
share class
Name
As of 11/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
6.9%
1 yr return
11.0%
3 Yr Avg Return
0.6%
5 Yr Avg Return
3.9%
Net Assets
$21.8 M
Holdings in Top 10
99.9%
52 WEEK LOW AND HIGH
$10.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 11.97%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 45.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
PDAEX - Profile
Distributions
- YTD Total Return 6.9%
- 3 Yr Annualized Total Return 0.6%
- 5 Yr Annualized Total Return 3.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.58%
- Dividend Yield 2.9%
- Dividend Distribution Frequency None
Fund Details
-
Legal NamePGIM TARGET DATE INCOME FUND
-
Fund Family NamePRUDENTIAL
-
Inception DateDec 13, 2016
-
Shares OutstandingN/A
-
Share ClassR2
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJeremy Stempien
Fund Description
The Fund is intended for retired investors who seek income from fixed income investments with some capital appreciation from equities. The Fund pursues its objective by investing in a diversified portfolio of other mutual funds within the PGIM fund family (collectively, the “Underlying Funds”) that represent various asset classes and sectors. The Fund will invest in Underlying Funds that provide exposure to equity, fixed income and non-traditional asset classes. The investments held by Underlying Funds that provide exposure to equities may include U.S. large-cap equity, mid-cap equity and small-cap equity, as well as international developed markets equity, emerging markets equity and other non-U.S. securities. Underlying Funds that provide exposure to fixed income may invest primarily in bonds, including below investment grade bonds, commonly known as “junk bonds.” Underlying Funds may gain exposure to non-traditional asset classes through investments in equity securities and related derivatives of issuers that are primarily engaged in or related to the real estate industry, real estate investment trusts (“REITs”), commodity-related instruments and derivative securities or instruments, such as options and futures, the value of which is derived from another security, a commodity, a currency or an index.Approximately 65% of the Fund’s assets will be allocated to Underlying Funds that provide exposure to fixed income investments, with the remainder invested in Underlying Funds that provide exposure to equity and equity-related securities and non-traditional asset classes (including U.S. and non-U.S. equities, commodities and real estate). The Fund is typically rebalanced monthly to maintain the asset allocations with respect to the Underlying Funds in which the Fund is invested.The subadviser will review the Fund’s asset allocations to the Underlying Funds annually to determine, in its discretion, whether the allocations remain suitable to meet the Fund’s investment objective. Based on such reviews, the subadviser may make changes to the Fund’s asset allocations as it deems appropriate to meet the Fund’s investment objective in light of market and economic conditions and such other factors as it deems relevant. There is no assurance that the Fund’s objective will be achieved or that the Fund will provide adequate income through the investor’s retirement.The information in the table below represents the strategic allocations for the Fund.The Fund’s actual allocations may differ from those shown in the table below by plus or minus 5%.Fund NameEquity and Non-TraditionalFixed IncomePGIM Target Date Income Fund35%65%The Fund shall maintain not less than the minimum total allocation to fixed income investments and such other constraints, if any, as may be required for it to be considered a Qualified Default Investment Alternative as defined under the Employee Retirement Income Security Act of 1974 (“ERISA”) and determined by the U.S. Department of Labor.
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PDAEX - Performance
Return Ranking - Trailing
| Period | PDAEX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.9% | 0.0% | 12.8% | 55.08% |
| 1 Yr | 11.0% | 2.5% | 15.6% | 60.96% |
| 3 Yr | 0.6%* | -8.2% | 4.0% | 47.85% |
| 5 Yr | 3.9%* | -6.5% | 5.9% | 44.17% |
| 10 Yr | N/A* | 1.7% | 5.2% | N/A |
* Annualized
Return Ranking - Calendar
| Period | PDAEX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.1% | -9.8% | 12.8% | 57.53% |
| 2022 | -18.0% | -38.3% | -3.8% | 85.48% |
| 2021 | 1.3% | -9.1% | 10.3% | 19.57% |
| 2020 | 5.8% | -13.4% | 12.6% | 52.76% |
| 2019 | 8.9% | -1.1% | 13.9% | 39.42% |
Total Return Ranking - Trailing
| Period | PDAEX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.9% | 0.0% | 12.8% | 55.08% |
| 1 Yr | 11.0% | 2.5% | 15.6% | 60.96% |
| 3 Yr | 0.6%* | -8.2% | 4.0% | 47.85% |
| 5 Yr | 3.9%* | -6.5% | 5.9% | 44.17% |
| 10 Yr | N/A* | 1.7% | 5.2% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | PDAEX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.2% | -9.8% | 15.4% | 71.51% |
| 2022 | -12.0% | -16.9% | -2.9% | 54.30% |
| 2021 | 8.8% | -3.8% | 10.3% | 9.78% |
| 2020 | 7.9% | -13.4% | 16.6% | 82.21% |
| 2019 | 13.1% | 4.7% | 25.2% | 62.04% |
NAV & Total Return History
PDAEX - Holdings
Concentration Analysis
| PDAEX | Category Low | Category High | PDAEX % Rank | |
|---|---|---|---|---|
| Net Assets | 21.8 M | 3.58 M | 35.6 B | 87.70% |
| Number of Holdings | 10 | 2 | 1478 | 82.35% |
| Net Assets in Top 10 | 17.5 M | 2.94 M | 35.5 B | 83.42% |
| Weighting of Top 10 | 99.91% | 4.6% | 124.2% | 18.44% |
Top 10 Holdings
- PGIM TIPS Fund 23.07%
- Prudential Trust Company Collective Trust-Prudential Core Conservative Bond Fund 16.10%
- PGIM Total Return Bond Fund 16.07%
- PGIM Quant Solutions Large-Cap Index Fund 15.63%
- PGIM Core Ultra Short Bond Fund 10.24%
- PGIM Global Real Estate Fund 6.02%
- PGIM Quant Solutions Commodity Strategies Fund 5.84%
- PGIM Quant Solutions International Developed Markets Index Fund 4.57%
- PGIM Quant Solutions Mid-Cap Index Fund 1.20%
- PGIM Jennison Small-Cap Core E 1.19%
Asset Allocation
| Weighting | Return Low | Return High | PDAEX % Rank | |
|---|---|---|---|---|
| Stocks | 89.67% | 0.00% | 100.15% | 55.61% |
| Cash | 10.33% | -24.70% | 53.61% | 13.37% |
| Convertible Bonds | 0.30% | 0.00% | 6.56% | 79.14% |
| Preferred Stocks | 0.00% | 0.00% | 11.70% | 6.95% |
| Other | 0.00% | 0.00% | 5.62% | 28.34% |
| Bonds | 0.00% | 0.00% | 109.30% | 49.73% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PDAEX % Rank | |
|---|---|---|---|---|
| Real Estate | 19.30% | 1.86% | 19.30% | 1.33% |
| Technology | 17.54% | 16.20% | 25.61% | 76.00% |
| Healthcare | 11.72% | 6.38% | 14.87% | 56.67% |
| Financial Services | 11.69% | 11.53% | 20.26% | 92.00% |
| Consumer Cyclical | 9.20% | 4.61% | 13.00% | 94.00% |
| Industrials | 8.46% | 7.75% | 12.84% | 88.67% |
| Consumer Defense | 6.25% | 4.27% | 8.57% | 50.67% |
| Communication Services | 5.91% | 4.20% | 8.42% | 86.00% |
| Energy | 4.01% | 2.88% | 13.48% | 75.33% |
| Basic Materials | 3.70% | 2.71% | 8.17% | 86.67% |
| Utilities | 2.23% | 1.85% | 8.79% | 80.67% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PDAEX % Rank | |
|---|---|---|---|---|
| US | 89.67% | 0.00% | 100.15% | 55.61% |
| Non US | 0.00% | 0.00% | 17.40% | 10.16% |
PDAEX - Expenses
Operational Fees
| PDAEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 11.97% | 0.05% | 13.27% | 1.61% |
| Management Fee | 0.00% | 0.00% | 0.79% | 1.71% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 13.64% |
| Administrative Fee | N/A | 0.01% | 0.29% | N/A |
Sales Fees
| PDAEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.75% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| PDAEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| PDAEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 45.00% | 0.00% | 121.26% | 77.71% |
PDAEX - Distributions
Dividend Yield Analysis
| PDAEX | Category Low | Category High | PDAEX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.91% | 0.00% | 9.37% | 55.61% |
Dividend Distribution Analysis
| PDAEX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| PDAEX | Category Low | Category High | PDAEX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.58% | -0.06% | 5.71% | 58.29% |
Capital Gain Distribution Analysis
| PDAEX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Semi-Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 19, 2024 | $0.076 | OrdinaryDividend |
| Jun 13, 2024 | $0.104 | OrdinaryDividend |
| Mar 14, 2024 | $0.031 | OrdinaryDividend |
| Dec 26, 2023 | $0.127 | OrdinaryDividend |
| Sep 14, 2023 | $0.067 | OrdinaryDividend |
| Jun 15, 2023 | $0.069 | OrdinaryDividend |
| Mar 16, 2023 | $0.026 | OrdinaryDividend |
| Dec 23, 2022 | $0.491 | OrdinaryDividend |
| Sep 15, 2022 | $0.092 | OrdinaryDividend |
| Jun 16, 2022 | $0.087 | OrdinaryDividend |
| Mar 17, 2022 | $0.029 | OrdinaryDividend |
| Dec 27, 2021 | $0.729 | OrdinaryDividend |
| Sep 16, 2021 | $0.066 | OrdinaryDividend |
| Jun 17, 2021 | $0.047 | OrdinaryDividend |
| Mar 18, 2021 | $0.008 | OrdinaryDividend |
| Dec 24, 2020 | $0.147 | OrdinaryDividend |
| Sep 17, 2020 | $0.013 | OrdinaryDividend |
| Jun 18, 2020 | $0.028 | OrdinaryDividend |
| Mar 19, 2020 | $0.027 | OrdinaryDividend |
| Dec 26, 2019 | $0.138 | OrdinaryDividend |
| Dec 26, 2019 | $0.030 | CapitalGainShortTerm |
| Dec 26, 2019 | $0.143 | CapitalGainLongTerm |
| Sep 19, 2019 | $0.039 | OrdinaryDividend |
| Jun 20, 2019 | $0.052 | OrdinaryDividend |
| Mar 21, 2019 | $0.014 | OrdinaryDividend |
| Dec 26, 2018 | $0.145 | OrdinaryDividend |
| Dec 26, 2018 | $0.012 | CapitalGainShortTerm |
| Dec 26, 2018 | $0.056 | CapitalGainLongTerm |
| Sep 20, 2018 | $0.058 | OrdinaryDividend |
| Jun 21, 2018 | $0.050 | OrdinaryDividend |
| Mar 22, 2018 | $0.006 | OrdinaryDividend |
| Dec 22, 2017 | $0.106 | OrdinaryDividend |
| Dec 22, 2017 | $0.004 | CapitalGainShortTerm |
| Sep 21, 2017 | $0.012 | OrdinaryDividend |
| Jun 22, 2017 | $0.003 | OrdinaryDividend |
| Mar 23, 2017 | $0.035 | OrdinaryDividend |
PDAEX - Fund Manager Analysis
Managers
Jeremy Stempien
Start Date
Tenure
Tenure Rank
Dec 13, 2016
5.47
5.5%
Jeremy Stempien, MBA, is a Vice President, Portfolio Manager and Strategist for QMA, working with the Dynamic Asset Allocation team. His responsibilities include the management of the Prudential Day One Funds and managing client relationships. Prior to joining QMA, Jeremy was a Director of Investments at Morningstar Investment Management where he was responsible for developing asset allocation programs for plan providers, plan sponsors, and money management companies. He worked with clients in creating and managing custom target date glide paths, selecting appropriate asset classes, and constructing model portfolios. Previously, he worked at Hewitt Associates where he was a Defined Contribution Manager. Jeremy earned a BA in Finance from Saint Louis University and an MBA in Investments from University of Notre Dame.
Joel Kallman
Start Date
Tenure
Tenure Rank
Dec 13, 2016
5.47
5.5%
Joel M. Kallman, CFA, is a Vice President and Portfolio Manager for Quantitative Management Associates. Joel is a portfolio manager and a member of the asset allocation team. He also conducts economic and market valuation research. Joel has also held various positions within Prudential's fixed-income group, in areas such as high-yield credit analysis and performance reporting. He earned a BS and MBA in Finance from Rutgers University. He is also a member of the New York Society of Security Analysts and holds the Chartered Financial Analyst (CFA) designation.
Lorne Johnson
Start Date
Tenure
Tenure Rank
May 05, 2020
2.07
2.1%
Lorne Johnson, PhD, is a Managing Director and Portfolio Manager working within the Global Multi-Asset Solutions team. As the Director of Institutional Solutions, he serves as a subject matter expert, and performs research and analysis for Global Multi-Asset Solutions portfolios. Prior to joining QMA, Lorne was a Senior Portfolio Manager at State Street Global Advisors’ Investment Solutions Group with a focus on managing tactical asset allocation portfolios. Previously, Lorne was a Portfolio Manager at CalPERS and Numeric Investors, a Senior Portfolio Manager at ABP Investments, and an Economist at Caxton Associates. He earned a BA in both public administration and history at California State University, an MA in applied economics at San Jose State University and an MA and PhD in economics at the University of Washington. His dissertation research focused on the application of non-linear time varying parameter models to better understanding risk premia in U.S. financial markets.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 17.59 | 6.48 | 3.75 |
