PBL Fees and Costs — PGIM Portfolio Ballast ETF
Data updated: 2026-07-27
The net expense ratio is 0.45%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $623 in broker commissions, 0.0012% of average net assets, and portfolio turnover was 20%.
PBL Fees and Expenses
Annual operating expenses and sales charges of PBL. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.45% |
| Fee waiver | — |
| Net expense ratio | 0.45% |
| 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 |
PBL Costs Over Time
On $10,000 invested in PBL, assuming 5% a year before costs, total costs come to $285 over 5 years, cutting the return by 0.47% 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 |
| Fund expenses (net expense ratio 0.45%) | $47 | $148 | $259 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $47 | $156 | $285 |
| Value after costs | $10,453 | $11,420 | $12,477 |
| Impact on return, per year | 0.47% | 0.47% | 0.47% |
PBL 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): 0.0012%
- Total broker commissions: $623
- Bought from dealers (principal trades, not a cost): $84.0M
- Portfolio turnover (prospectus): 20%
- Securities lending: none during the year
PBL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| SG AMERICAS SECURITIES LLC | $489 | 78.49% |
| X-CHANGE FINANCIAL ACCESS, LLC | $75 | 12.04% |
| LIQUIDNET, INC. | $24 | 3.85% |
| GUZMAN & COMPANY | $24 | 3.85% |
| BOFA SECURITIES, INC. | $7 | 1.12% |
| CASTLEOAK SECURITIES, LP | $4 | 0.64% |
PBL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $24.5M | 29.18% |
| J.P. Morgan Securities LLC | $20.0M | 23.85% |
| BARCLAYS CAPITAL, INC. | $11.5M | 13.73% |
| MORGAN STANLEY & CO. LLC | $10.4M | 12.35% |
| CitiGroup Global Markets Inc. | $10.0M | 11.87% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $2.0M | 2.34% |
| WELLS FARGO SECURITIES, LLC | $2.0M | 2.33% |
| HSBC SECURITIES (USA), INC. | $1.9M | 2.30% |
| SG AMERICAS SECURITIES, LLC | $1.4M | 1.66% |
| MAREX CAPITAL MARKETS INC. | $333K | 0.40% |
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.