DNMZX Performance — PGIM National Muni Fund, Class Z
Data updated: 2026-07-27
DNMZX returned +1.31% year to date and +6.27% over one year to May 2026. Annualised returns are +4.22% over 3 years and +1.18% over 5 years. The fund beat its Intermediate Municipal Bond category average: $100 invested three years ago grew to $113, against $111 for the category, and to $106 over one year, against $106. Volatility over the past three years was 3.91% a year. In the 12 months to May 2026 the fund took in a net $172.9M, and assets reached $1.23B.
DNMZX Growth of $100
What $100 invested in PGIM National Muni Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Municipal Bond category average over the same months.
| Period | DNMZX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $106 | $106 |
| 3 years (Jun 2023 – May 2026) | $113 | $111 |
| 5 years (Jun 2021 – May 2026) | $106 | $104 |
| Since data start (Sep 2019 – May 2026) | $111 | $109 |
DNMZX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.31% |
| 1 year | +6.27% |
| 3 years (annualised) | +4.22% |
| 5 years (annualised) | +1.18% |
DNMZX Annual Returns
Calendar-year total returns of PGIM National Muni Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.31% |
| 2025 | +4.92% |
| 2024 | +1.97% |
| 2023 | +5.84% |
| 2022 | −7.96% |
| 2021 | +1.40% |
| 2020 | +4.30% |
| 2019 (Sep–Dec) | −0.16% |
DNMZX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +1.0% | +1.1% | −2.2% | +1.1% | +0.3% | — | — | — | — | — | — | — |
| 2025 | +0.6% | +0.8% | −1.1% | −0.6% | +0.3% | +0.7% | +0.1% | +0.8% | +1.6% | +1.0% | +0.3% | +0.3% |
| 2024 | −0.2% | +0.2% | +0.2% | −0.7% | −0.2% | +1.1% | +0.9% | +0.7% | +0.8% | −1.1% | +1.2% | −0.9% |
| 2023 | +2.2% | −1.7% | +1.6% | −0.1% | −0.6% | +0.9% | +0.5% | −0.9% | −1.8% | −0.3% | +4.2% | +1.8% |
| 2022 | −2.7% | −0.5% | −3.0% | −2.4% | +1.0% | −1.0% | +2.0% | −1.6% | −2.8% | −0.7% | +3.2% | +0.5% |
| 2021 | +0.8% | −1.5% | +0.6% | +0.7% | +0.3% | +0.2% | +0.8% | −0.4% | −0.7% | −0.4% | +0.6% | +0.2% |
| 2020 | +2.1% | +1.6% | −5.8% | −1.7% | +2.9% | +1.7% | +2.0% | −0.3% | 0.0% | −0.2% | +1.4% | +1.0% |
| 2019 | — | — | — | — | — | — | — | — | −0.7% | +0.1% | +0.2% | +0.2% |
DNMZX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 3.91%
- 3-year Sharpe ratio: -0.07 (vs 4.5% risk-free rate)
- Best month: +4.23% (Nov 2023)
- Worst month: −2.16% (Mar 2026)
DNMZX Fund Flows
Monthly money in and out of PGIM National Muni Fund, from SEC Form N-PORT.
- 12-month net flow: $172.9M
- 12-month gross sales (incl. reinvestments): $443.6M
- Sales ÷ redemptions: 1.64×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $34.4M | $22.7M | $11.7M |
| Apr 2026 | $28.4M | $30.3M | −$1.9M |
| Mar 2026 | $36.1M | $23.7M | $12.4M |
| Feb 2026 | $31.5M | $16.6M | $14.9M |
| Jan 2026 | $40.0M | $17.0M | $23.0M |
| Dec 2025 | $45.6M | $19.8M | $25.8M |
| Nov 2025 | $35.1M | $22.7M | $12.4M |
| Oct 2025 | $39.4M | $21.8M | $17.6M |
| Sep 2025 | $36.4M | $20.6M | $15.8M |
| Aug 2025 | $46.1M | $23.6M | $22.5M |
| Jul 2025 | $34.8M | $25.5M | $9.3M |
| Jun 2025 | $35.7M | $26.2M | $9.5M |
DNMZX Assets Under Management
Net assets of PGIM National Muni Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-29 | $1.23B |
| 2026-02-27 | $1.23B |
| 2025-11-28 | $1.15B |
| 2025-08-29 | $1.08B |
| 2025-05-30 | $1.03B |
| 2025-02-28 | $1.07B |
| 2024-11-29 | $1.07B |
| 2024-08-30 | $1.06B |
| 2024-05-31 | $1.04B |
| 2024-02-29 | $1.05B |
| 2023-11-30 | $992.22M |
| 2023-08-31 | $921.24M |
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.