PBHAX Fees and Costs — PGIM High Yield Fund, Class A
Data updated: 2026-07-27
The net expense ratio is 0.74%: a 0.36% management fee, a 0.25% 12b-1 fee plus 0.13% other expenses. This share class carries a maximum front-end sales load of 3.25% and a deferred sales charge of up to 1.00%. In fiscal 2025 the fund paid $451K in broker commissions, 0.0023% of average net assets, and portfolio turnover was 49%.
PBHAX Fees and Expenses
Annual operating expenses and sales charges of PBHAX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.36% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.13% |
| Gross expense ratio | 0.74% |
| Fee waiver | — |
| Net expense ratio | 0.74% |
| Sales charges | |
|---|---|
| Max front load | 3.25% |
| 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 |
PBHAX Costs Over Time
On $10,000 invested in PBHAX, assuming 5% a year before costs, total costs come to $866 over 5 years, cutting the return by 1.47% 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 | $426 | $325 | $325 |
| Fund expenses (net expense ratio 0.74%) | $75 | $235 | $409 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $16 | $63 | $131 |
| Total costs | $517 | $624 | $866 |
| Value after costs | $9,983 | $10,952 | $11,896 |
| Impact on return, per year | 5.17% | 1.92% | 1.47% |
PBHAX 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): 0.0023%
- Total broker commissions: $451K
- Bought from dealers (principal trades, not a cost): $15.9B
- Portfolio turnover (prospectus): 49%
- Securities on loan, average value: $856.2M
- Net income from securities lending: $1.7M (0.009% of average net assets)
PBHAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $155K | 34.49% |
| GOLDMAN SACHS & CO. LLC | $84K | 18.73% |
| CITIGROUP GLOBAL MARKETS INC. | $63K | 14.03% |
| OPPENHEIMER & CO. INC. | $60K | 13.37% |
| BOFA SECURITIES, INC. | $32K | 7.15% |
| RBC CAPITAL MARKETS, LLC | $31K | 6.84% |
| JEFFERIES LLC | $21K | 4.71% |
| ROBERT W. BAIRD & CO. INC. | $1K | 0.31% |
| CITADEL SECURITIES LLC | $894 | 0.20% |
| BARCLAYS CAPITAL, INC. | $738 | 0.16% |
PBHAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $3.0B | 22.17% |
| Goldman Sachs & Co. LLC | $2.4B | 17.68% |
| BOFA SECURITIES, INC. | $1.8B | 13.71% |
| BARCLAYS CAPITAL, INC. | $1.3B | 9.74% |
| CitiGroup Global Markets Inc. | $1.3B | 9.50% |
| MORGAN STANLEY & CO. LLC | $1.2B | 8.62% |
| JEFFERIES LLC | $739.2M | 5.50% |
| WELLS FARGO SECURITIES, LLC | $644.8M | 4.80% |
| CANTOR FITZGERALD & CO. | $575.3M | 4.28% |
| DEUTSCHE BANK SECURITIES, INC. | $536.8M | 4.00% |
PGIM High Yield Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PHYQX | Class R6 | 0.38% | none |
| PHYZX | Class Z | 0.51% | none |
| PHYGX | Class R4 | 0.66% | none |
| PBHAX | Class A | 0.74% | 3.25% |
| PHYEX | Class R2 | 0.91% | none |
| JDYRX | Class R | 1.05% | none |
| PRHCX | Class C | 1.47% | 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.