C000226567 Fees and Costs — PSF PGIM High Yield Bond Portfolio, Class III
Data updated: 2026-08-26
The net expense ratio is 0.82%: a 0.55% management fee, a 0.25% 12b-1 fee plus 0.06% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $9K in broker commissions, 0.0012% of average net assets, and portfolio turnover was 77%.
C000226567 Fees and Expenses
Annual operating expenses and sales charges of C000226567. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.06% |
| Gross expense ratio | 0.86% |
| Fee waiver | −0.04% |
| Net expense ratio | 0.82% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000226567 Costs Over Time
On $10,000 invested in C000226567, assuming 5% a year before costs, total costs come to $516 over 5 years, cutting the return by 0.86% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.82%) | $86 | $269 | $468 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $13 | $47 |
| Total costs | $86 | $283 | $516 |
| Value after costs | $10,414 | $11,293 | $12,247 |
| Impact on return, per year | 0.86% | 0.86% | 0.86% |
C000226567 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0012%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): $987.4M
- Portfolio turnover (prospectus): 77%
- Securities on loan, average value: $34.8M
- Net income from securities lending: $77K (0.011% of average net assets)
C000226567 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $6K | 65.47% |
| GOLDMAN SACHS & CO. LLC | $1K | 14.69% |
| BOFA SECURITIES, INC. | $944 | 10.55% |
| CitiGroup Global Markets Inc. | $731 | 8.17% |
| Jane Street Execution Services, LLC | $88 | 0.98% |
| ROBERT W. BAIRD & CO. INC. | $9 | 0.10% |
| CAPITAL ONE SECURITIES, INC. | $3 | 0.03% |
C000226567 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $265.8M | 30.43% |
| Goldman Sachs & Co. LLC | $195.5M | 22.39% |
| BOFA SECURITIES, INC. | $107.3M | 12.28% |
| J.P. Morgan Securities LLC | $86.0M | 9.85% |
| CitiGroup Global Markets Inc. | $78.2M | 8.96% |
| BARCLAYS CAPITAL, INC. | $44.7M | 5.11% |
| JEFFERIES LLC | $30.0M | 3.44% |
| Wells Fargo Securities LLC | $24.4M | 2.80% |
| MARKETAXESS CORPORATION | $21.1M | 2.42% |
| DEUTSCHE BANK SECURITIES, INC. | $20.3M | 2.32% |
PSF PGIM High Yield Bond Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000005726 | Class I | 0.57% | — |
| C000226567 | Class III | 0.82% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.