HYSAX Fees and Costs — PGIM Short Duration High Yield Income Fund, Class A
Data updated: 2026-07-27
The net expense ratio is 1.00%: a 0.69% management fee, a 0.25% 12b-1 fee plus 0.10% other expenses, less a 0.04% fee waiver. This share class carries a maximum front-end sales load of 2.25% and a deferred sales charge of up to 1.00%. In fiscal 2025 the fund paid $247K in broker commissions, 0.0050% of average net assets, and portfolio turnover was 61%.
HYSAX Fees and Expenses
Annual operating expenses and sales charges of HYSAX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.69% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.10% |
| Gross expense ratio | 1.04% |
| Fee waiver | −0.04% |
| Net expense ratio | 1.00% |
| Sales charges | |
|---|---|
| Max front load | 2.25% |
| Max deferred load | 1.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
HYSAX Costs Over Time
On $10,000 invested in HYSAX, assuming 5% a year before costs, total costs come to $902 over 5 years, cutting the return by 1.53% 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 |
| Sales charges | $327 | $225 | $225 |
| Fund expenses (net expense ratio 1.00%) | $103 | $320 | $555 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $11 | $51 | $119 |
| Total costs | $441 | $598 | $902 |
| Value after costs | $10,059 | $10,978 | $11,861 |
| Impact on return, per year | 4.41% | 1.84% | 1.53% |
HYSAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0050%
- Total broker commissions: $247K
- Bought from dealers (principal trades, not a cost): $4.0B
- Portfolio turnover (prospectus): 61%
- Securities on loan, average value: $150.6M
- Net income from securities lending: $299K (0.006% of average net assets)
HYSAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| OPPENHEIMER & CO. INC. | $92K | 37.08% |
| J.P. Morgan Securities LLC | $55K | 22.40% |
| CITIGROUP GLOBAL MARKETS INC. | $35K | 14.22% |
| Jane Street Execution Services, LLC | $20K | 8.22% |
| GOLDMAN SACHS & CO. LLC | $15K | 6.07% |
| BOFA SECURITIES, INC. | $13K | 5.13% |
| RBC CAPITAL MARKETS, LLC | $11K | 4.52% |
| JEFFERIES LLC | $5K | 2.17% |
| ROBERT W. BAIRD & CO. INC. | $373 | 0.15% |
| CAPITAL ONE SECURITIES, INC. | $104 | 0.04% |
HYSAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $645.2M | 20.12% |
| BOFA SECURITIES, INC. | $569.5M | 17.76% |
| GOLDMAN SACHS & CO. LLC | $469.5M | 14.64% |
| BARCLAYS CAPITAL, INC. | $339.6M | 10.59% |
| CitiGroup Global Markets Inc. | $324.3M | 10.11% |
| MORGAN STANLEY & CO. LLC | $281.8M | 8.79% |
| JEFFERIES LLC | $222.1M | 6.93% |
| WELLS FARGO SECURITIES, LLC | $156.8M | 4.89% |
| CANTOR FITZGERALD & CO. | $105.9M | 3.30% |
| RBC CAPITAL MARKETS, LLC | $92.0M | 2.87% |
PGIM Short Duration High Yield Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HYSQX | Class R6 | 0.70% | none |
| HYSZX | Class Z | 0.75% | none |
| HYSAX | Class A | 1.00% | 2.25% |
| HYSCX | Class C | 1.75% | none |
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.