PAB Fees and Costs — PGIM Active Aggregate Bond ETF
Data updated: 2026-07-27
The net expense ratio is 0.19% (0.20% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0035% of average net assets, and portfolio turnover was 134%.
PAB Fees and Expenses
Annual operating expenses and sales charges of PAB. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.19% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.20% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.19% |
| 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 | No |
PAB Costs Over Time
On $10,000 invested in PAB, assuming 5% a year before costs, total costs come to $123 over 5 years, cutting the return by 0.20% 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 0.19%) | $20 | $63 | $110 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $3 | $11 |
| Total costs | $20 | $67 | $123 |
| Value after costs | $10,480 | $11,509 | $12,640 |
| Impact on return, per year | 0.20% | 0.20% | 0.20% |
PAB 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): 0.0035%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $148.8M
- Portfolio turnover (prospectus): 134%
- Securities lending: none during the year
PAB Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $1K | 56.51% |
| RBC CAPITAL MARKETS, LLC | $527 | 23.90% |
| CitiGroup Global Markets Inc. | $257 | 11.66% |
| BOFA SECURITIES, INC. | $89 | 4.04% |
| GOLDMAN SACHS & CO. LLC | $60 | 2.72% |
| WELLS FARGO SECURITIES, LLC | $12 | 0.54% |
| BARCLAYS CAPITAL, INC. | $7 | 0.32% |
| CITADEL SECURITIES LLC | $7 | 0.32% |
PAB Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $21.2M | 18.28% |
| MORGAN STANLEY & CO. LLC | $21.2M | 18.27% |
| WELLS FARGO SECURITIES, LLC | $20.9M | 17.98% |
| J.P. Morgan Securities LLC | $17.8M | 15.33% |
| BARCLAYS CAPITAL, INC. | $8.8M | 7.59% |
| CitiGroup Global Markets Inc. | $6.6M | 5.65% |
| BMO CAPITAL MARKETS CORP. | $5.4M | 4.66% |
| GOLDMAN SACHS & CO. LLC | $5.0M | 4.31% |
| The Bank of Nova Scotia | $5.0M | 4.30% |
| TD SECURITIES (USA) LLC | $4.2M | 3.64% |
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.