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PGIM TIPS Fund
mutual fund
PQTSX
Payout Change
Pending
Price as of:
$8.24
-0.01
-0.12%
primary theme
TIPS
share class
PQTSX (Mutual Fund)
PGIM TIPS Fund
PQTSX (Mutual Fund)
PGIM TIPS Fund
Payout Change
Pending
Price as of:
$8.24
-0.01
-0.12%
primary theme
TIPS
share class
Name
As of 12/23/2024Price
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
1.6%
1 yr return
1.5%
3 Yr Avg Return
-2.2%
5 Yr Avg Return
1.5%
Net Assets
$75.6 M
Holdings in Top 10
70.2%
52 WEEK LOW AND HIGH
$8.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.44%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 72.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/23/2024Price
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
PQTSX - Profile
Distributions
- YTD Total Return 1.6%
- 3 Yr Annualized Total Return -2.2%
- 5 Yr Annualized Total Return 1.5%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 3.39%
- Dividend Yield 3.9%
- Dividend Distribution Frequency None
Fund Details
-
Legal NamePGIM TIPS Fund
-
Fund Family NamePRUDENTIAL
-
Inception DateNov 15, 2016
-
Shares OutstandingN/A
-
Share ClassR6
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerCraig Dewling
Fund Description
The Fund invests, under normal circumstances, at least 80% of its investable assets in U.S. Treasury Inflation-Protected Securities (“TIPS”).The term “investable assets” in this Prospectus refers to the Fund's net assets plus any borrowings for investment purposes. The Fund's investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions.Consistent with the Fund's investment objective, the subadviser seeks diversified investment exposure to TIPS with the potential for incremental gains relative to the Bloomberg US Treasury Inflation-Protected Securities (TIPS) Index (the “Index”). The subadviser relies on a quantitatively-driven enhanced index approach. Through proprietary analytics, the subadviser attempts to exploit relative value opportunities and trading inefficiencies, while limiting risk exposures.The Fund may also hold non inflation-indexed securities, although these will normally not exceed 20% of the Fund's total assets. The investments may be public or private securities.TIPS are securities issued by the U.S. Treasury that are designed to provide inflation protection to investors. TIPS are income-generating instruments whose interest and principal payments are adjusted for inflation — a sustained increase in prices that erodes the purchasing power of money. The inflation adjustment, which is typically applied monthly to the principal of the bond, follows a designated inflation index, the Non Seasonally Adjusted Consumer Price Index (“NSA CPI”), and TIPS’ principal payments are adjusted according to changes in the NSA CPI. A fixed coupon rate is applied to the inflation-adjusted principal so that as inflation rises, both the principal value and the interest payments increase. This can provide investors with a hedge against inflation, as it helps preserve the purchasing power of an investment. Because of this inflation adjustment feature, inflation-protected bonds typically have lower yields than conventional fixed-rate bonds. The Fund’s income may decline due to a decline in Consumer Price Index for Urban Consumers (“CPI-U”), also known as “deflation”. If there is deflation, the principal value of an inflation-linked security will be adjusted downward, and consequently the interest payments (calculated with respect to a smaller principal amount) will be reduced. The principal value can decrease, but not below the original face value of the security. The Index includes all publicly issued TIPS that have at least one year remaining to maturity, are rated investment grade and have $250 million or more of outstanding face value. In addition, the securities in the Index must be denominated in U.S. dollars and must be fixed rate and non-convertible.While the Fund’s portfolio is structured to have similar overall characteristics to the Index, the portfolio managers may adjust certain holdings in relation to their weighting in the Index and use other investment strategies in an attempt to generate outperformance over the Index. Based on the portfolio managers’ views as to the relative value or attractiveness of a specific security as well as an internal proprietary analytics model, the Fund places a slightly greater or lesser emphasis on certain Index securities than their representation in the Index. This could result in the Fund being underweight or overweight in certain TIPS versus the Index.All fixed income securities held in the Fund will be investment grade or higher. The Fund may also acquire U.S. Government securities in the form of custodial receipts that show ownership of future interest payments, principal payments or both on certain U.S. Treasury notes or bonds. Such notes or bonds are held in custody by a bank on behalf of the owners. These custodial receipts are commonly referred to as Treasury strips.The Fund may also invest in other debt obligations issued or guaranteed by the U.S. Government and government-related entities. Some (but not all) of these debt securities are backed by the full faith and credit of the U.S. Government.The Fund has no limitations with respect to the maturities of portfolio securities in which it may invest.In managing the Fund’s assets, the subadviser uses a combination of top-down economic analysis and bottom-up research in conjunction with proprietary quantitative models and risk management systems. In the top-down economic analysis, the subadviser develops views on economic, policy and market trends. In its bottom-up research, the subadviser develops an internal rating and outlook on issuers. The rating and outlook are determined based on a thorough review of the financial health and trends of the issuer. The subadviser may also consider investment factors such as expected total return, yield, spread and potential for price appreciation as well as credit quality, maturity and risk. The Fund may invest in a security based upon the expected total return rather than the yield of such security.
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PQTSX - Performance
Return Ranking - Trailing
| Period | PQTSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.6% | -11.9% | 8.9% | 61.19% |
| 1 Yr | 1.5% | -11.5% | 9.1% | 66.17% |
| 3 Yr | -2.2%* | -17.7% | 4.2% | 51.53% |
| 5 Yr | 1.5%* | -7.9% | 4.6% | 65.61% |
| 10 Yr | N/A* | -2.5% | 3.4% | N/A |
* Annualized
Return Ranking - Calendar
| Period | PQTSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -0.9% | -8.7% | 5.1% | 82.41% |
| 2022 | -18.5% | -52.3% | -4.0% | 86.22% |
| 2021 | -1.9% | -7.9% | 7.7% | 91.67% |
| 2020 | 7.3% | -29.4% | 23.0% | 58.73% |
| 2019 | 5.5% | 0.8% | 16.7% | 57.98% |
Total Return Ranking - Trailing
| Period | PQTSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.6% | -11.9% | 8.9% | 61.19% |
| 1 Yr | 1.5% | -11.5% | 9.1% | 66.17% |
| 3 Yr | -2.2%* | -17.7% | 4.2% | 51.53% |
| 5 Yr | 1.5%* | -7.9% | 4.6% | 65.61% |
| 10 Yr | N/A* | -2.5% | 3.4% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | PQTSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.1% | -5.2% | 9.5% | 37.19% |
| 2022 | -11.5% | -40.1% | 9.2% | 48.98% |
| 2021 | 5.8% | -2.7% | 37.6% | 31.25% |
| 2020 | 10.5% | -0.5% | 27.5% | 40.21% |
| 2019 | 7.3% | 2.8% | 19.3% | 46.81% |
NAV & Total Return History
PQTSX - Holdings
Concentration Analysis
| PQTSX | Category Low | Category High | PQTSX % Rank | |
|---|---|---|---|---|
| Net Assets | 75.6 M | 963 K | 54.3 B | 93.03% |
| Number of Holdings | 33 | 2 | 1463 | 83.58% |
| Net Assets in Top 10 | 43.7 M | 913 K | 25.5 B | 93.03% |
| Weighting of Top 10 | 70.18% | 9.4% | 100.1% | 26.00% |
Top 10 Holdings
- United States Treasury Inflation Indexed Bonds 15.78%
- United States Treasury Inflation Indexed Bonds 10.88%
- United States Treasury Inflation Indexed Bonds 9.86%
- United States Treasury Inflation Indexed Bonds 7.97%
- United States Treasury Inflation Indexed Bonds 6.23%
- United States Treasury Inflation Indexed Bonds 5.00%
- United States Treasury Inflation Indexed Bonds 4.73%
- United States Treasury Inflation Indexed Bonds 3.46%
- United States Treasury Inflation Indexed Bonds 3.19%
- United States Treasury Inflation Indexed Bonds 3.11%
Asset Allocation
| Weighting | Return Low | Return High | PQTSX % Rank | |
|---|---|---|---|---|
| Bonds | 99.29% | 0.00% | 206.20% | 37.81% |
| Cash | 0.71% | -42.00% | 15.77% | 55.72% |
| Stocks | 0.00% | 0.00% | 100.06% | 86.57% |
| Preferred Stocks | 0.00% | 0.00% | 1.89% | 92.54% |
| Other | 0.00% | -58.58% | 66.48% | 87.06% |
| Convertible Bonds | 0.00% | 0.00% | 3.96% | 94.53% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | PQTSX % Rank | |
|---|---|---|---|---|
| Government | 98.72% | 6.70% | 112.97% | 14.43% |
| Cash & Equivalents | 0.49% | 0.00% | 15.13% | 51.74% |
| Derivative | 0.00% | -26.67% | 16.13% | 85.57% |
| Securitized | 0.00% | 0.00% | 58.03% | 97.51% |
| Corporate | 0.00% | 0.00% | 50.64% | 96.02% |
| Municipal | 0.00% | 0.00% | 1.28% | 87.56% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | PQTSX % Rank | |
|---|---|---|---|---|
| US | 99.29% | 0.00% | 184.29% | 33.33% |
| Non US | 0.00% | 0.00% | 43.27% | 94.03% |
PQTSX - Expenses
Operational Fees
| PQTSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.44% | 0.03% | 22.29% | 71.86% |
| Management Fee | 0.23% | 0.00% | 0.99% | 28.36% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.40% | N/A |
Sales Fees
| PQTSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 4.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| PQTSX 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.
| PQTSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 72.00% | 0.00% | 246.00% | 68.23% |
PQTSX - Distributions
Dividend Yield Analysis
| PQTSX | Category Low | Category High | PQTSX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.85% | 0.00% | 14.25% | 4.98% |
Dividend Distribution Analysis
| PQTSX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annual | Monthly | Quarterly |
Net Income Ratio Analysis
| PQTSX | Category Low | Category High | PQTSX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.39% | -0.06% | 6.71% | 62.12% |
Capital Gain Distribution Analysis
| PQTSX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.027 | OrdinaryDividend |
| Oct 31, 2024 | $0.020 | OrdinaryDividend |
| Sep 30, 2024 | $0.022 | OrdinaryDividend |
| Aug 30, 2024 | $0.015 | OrdinaryDividend |
| Jul 31, 2024 | $0.027 | OrdinaryDividend |
| Apr 30, 2024 | $0.066 | OrdinaryDividend |
| Mar 28, 2024 | $0.053 | OrdinaryDividend |
| Feb 29, 2024 | $0.007 | OrdinaryDividend |
| Jan 31, 2024 | $0.007 | OrdinaryDividend |
| Dec 29, 2023 | $0.007 | OrdinaryDividend |
| Nov 30, 2023 | $0.031 | OrdinaryDividend |
| Oct 31, 2023 | $0.048 | OrdinaryDividend |
| Sep 29, 2023 | $0.027 | OrdinaryDividend |
| Aug 31, 2023 | $0.038 | OrdinaryDividend |
| Jul 31, 2023 | $0.031 | OrdinaryDividend |
| Jun 30, 2023 | $0.052 | OrdinaryDividend |
| May 31, 2023 | $0.037 | OrdinaryDividend |
| Apr 28, 2023 | $0.057 | OrdinaryDividend |
| Mar 31, 2023 | $0.053 | OrdinaryDividend |
| Dec 30, 2022 | $0.041 | OrdinaryDividend |
| Nov 30, 2022 | $0.024 | OrdinaryDividend |
| Oct 31, 2022 | $0.000 | OrdinaryDividend |
| Sep 30, 2022 | $0.001 | OrdinaryDividend |
| Aug 31, 2022 | $0.127 | OrdinaryDividend |
| Jul 29, 2022 | $0.102 | OrdinaryDividend |
| Jun 30, 2022 | $0.053 | OrdinaryDividend |
| May 31, 2022 | $0.124 | OrdinaryDividend |
| Apr 29, 2022 | $0.085 | OrdinaryDividend |
| Mar 31, 2022 | $0.079 | OrdinaryDividend |
| Feb 28, 2022 | $0.029 | OrdinaryDividend |
| Jan 31, 2022 | $0.046 | OrdinaryDividend |
| Dec 31, 2021 | $0.077 | OrdinaryDividend |
| Dec 30, 2021 | $0.094 | CapitalGainShortTerm |
| Dec 30, 2021 | $0.120 | CapitalGainLongTerm |
| Nov 30, 2021 | $0.026 | OrdinaryDividend |
| Oct 29, 2021 | $0.020 | OrdinaryDividend |
| Sep 30, 2021 | $0.046 | OrdinaryDividend |
| Aug 31, 2021 | $0.088 | OrdinaryDividend |
| Jul 30, 2021 | $0.076 | OrdinaryDividend |
| Jun 30, 2021 | $0.078 | OrdinaryDividend |
| May 28, 2021 | $0.067 | OrdinaryDividend |
| Apr 30, 2021 | $0.052 | OrdinaryDividend |
| Mar 31, 2021 | $0.040 | OrdinaryDividend |
| Feb 26, 2021 | $0.005 | OrdinaryDividend |
| Jan 29, 2021 | $0.005 | OrdinaryDividend |
| Dec 31, 2020 | $0.005 | OrdinaryDividend |
| Dec 30, 2020 | $0.010 | CapitalGainShortTerm |
| Dec 30, 2020 | $0.083 | CapitalGainLongTerm |
| Dec 23, 2020 | $0.011 | OrdinaryDividend |
| Dec 23, 2020 | $0.012 | CapitalGainLongTerm |
| Nov 30, 2020 | $0.014 | OrdinaryDividend |
| Oct 30, 2020 | $0.031 | OrdinaryDividend |
| Sep 30, 2020 | $0.038 | OrdinaryDividend |
| Apr 30, 2020 | $0.030 | OrdinaryDividend |
| Mar 31, 2020 | $0.040 | OrdinaryDividend |
| Jan 31, 2020 | $0.002 | OrdinaryDividend |
| Dec 31, 2019 | $0.027 | OrdinaryDividend |
| Nov 29, 2019 | $0.014 | OrdinaryDividend |
| Oct 31, 2019 | $0.006 | OrdinaryDividend |
| Sep 30, 2019 | $0.020 | OrdinaryDividend |
| Aug 30, 2019 | $0.010 | OrdinaryDividend |
| Jul 31, 2019 | $0.028 | OrdinaryDividend |
PQTSX - Fund Manager Analysis
Managers
Craig Dewling
Start Date
Tenure
Tenure Rank
Nov 15, 2016
5.54
5.5%
Craig Dewling is a Managing Director and Head of the Multi-Sector and Liquidity Team at PGIM Fixed Income. In this role, Mr. Dewling has portfolio management and trading oversight for US Treasuries and government agency securities, mortgage-backed securities, structured product securities, and interest rate derivative transactions for all strategies, products, and distribution channels. He is also a senior portfolio manager for US Government, mortgage-backed securities, insurance strategies, and multi-sector fixed income portfolios. He has specialized in mortgage-backed securities since 1991. Earlier, he was a taxable bond generalist for Prudential's proprietary accounts, specializing in US Treasuries and agencies. Mr. Dewling joined the Firm in 1987 in the Securities Systems Group. Mr. Dewling received a BS in Quantitative Business Analysis from The Pennsylvania State University and an MBA in Finance from Rutgers University.
Gary Wu
Start Date
Tenure
Tenure Rank
Nov 15, 2016
5.54
5.5%
Gary Wu, CFA, is a Principal and a US government portfolio manager for PGIM Fixed Income's Multi-Sector and Liquidity Team. He has been responsible for managing US Treasury products since joining the Team in 2000. Previously, Mr. Wu was a portfolio manager on PGIM Fixed Income’s Money Markets Desk. From 1997 to 1999, Mr. Wu was a risk analyst in PGIM Fixed Income’s quantitative research group. Mr. Wu joined the Firm in 1994 in the Guaranteed Products Unit, where he was responsible for annuity pricing. Mr. Wu received a BS in Business Administration and Mathematics from The State University of New York, at Albany. He holds the Chartered Financial Analyst (CFA) designation.
Robert Tipp
Start Date
Tenure
Tenure Rank
Apr 14, 2021
1.13
1.1%
Robert Tipp, CFA, is a Managing Director, Chief Investment Strategist, and Head of Global Bonds for PGIM Fixed Income. In addition to comanaging the Global Aggregate Plus strategy, Mr. Tipp is responsible for global rates positioning for Core Plus, Absolute Return, and other portfolios. Mr. Tipp has worked at the Firm since 1991, where he has held a variety of senior investment manager and strategist roles. Prior to joining the Firm, he was a Director in the Portfolio Strategies Group at the First Boston Corporation, where he developed, marketed, and implemented strategic portfolio products for money managers. Before that, Mr. Tipp was a Senior Staff Analyst at the Allstate Research & Planning Center, and managed fixed income and equity derivative strategies at Wells Fargo Investment Advisors. He received a BS in Business Administration and an MBA from the University of California, Berkeley. Mr. Tipp holds the Chartered Financial Analyst (CFA) designation. Named Morningstar’s 2017 Fixed Income Manager of The Year for PGIM Total Return Bond Fund.
Mick Meyler
Start Date
Tenure
Tenure Rank
Apr 14, 2021
1.13
1.1%
Mick Meyler is a Principal for PGIM Fixed Income's Developed Market Rates team, specializing in government securities, futures and interest rate swaps/derivatives. He joined PGIM Fixed Income in 2017 and assists with managing overall portfolio strategy, performs quantitative analysis, and designs and implements risk positions. Most recently, Mr. Meyler was with Nomura Securities where he was a Director in Interest Rate Sales focused on relative value and macro sales. Prior to that he was a portfolio manager at Citigroup's Proprietary Trading business and then at Nomura Securities' Proprietary Trading business where he implemented and managed relative value trading strategies in government securities and interest rate swaps/options. Mr. Meyler began his career in Capital Markets in 2001 in an Interest Rates Sales role at Lehman Brothers. Mr. Meyler received an BA in Economics from Rutgers University and an MBA with a concentration in Quantitative Finance from the University of Chicago.
Scott Donnelly
Start Date
Tenure
Tenure Rank
Apr 14, 2021
1.13
1.1%
Scott Donnelly, CFA, is a Vice President and a U.S. government portfolio manager for PGIM Fixed Income's Multi-Sector and Liquidity Team. Prior to his current role, Mr. Donnelly was a Sr. Investment Vice President for the Firm's Global Portfolio Management unit, overseeing the portfolio management activities within its Asia ex-Japan and European insurance operations. Mr. Donnelly started his career with the Firm in 2007 in the Institutional Investment Products group. Previously, he held portfolio management and actuarial roles at MetLife. Scott received a BS in Finance from St. Joseph's University and MBA from New York University. He holds the Chartered Financial Analyst (CFA) designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.17 | 20.51 | 6.56 | 11.1 |
