PFRL Fees and Costs — PGIM Floating Rate Income ETF
Data updated: 2026-07-27
The net expense ratio is 0.72%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0019% of average net assets, and portfolio turnover was 112%.
PFRL Fees and Expenses
Annual operating expenses and sales charges of PFRL. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.72% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.72% |
| Fee waiver | — |
| Net expense ratio | 0.72% |
| 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 |
PFRL Costs Over Time
On $10,000 invested in PFRL, assuming 5% a year before costs, total costs come to $454 over 5 years, cutting the return by 0.76% 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 0.72%) | $76 | $237 | $411 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $76 | $249 | $454 |
| Value after costs | $10,424 | $11,327 | $12,309 |
| Impact on return, per year | 0.76% | 0.76% | 0.76% |
PFRL 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): 0.0019%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $430.7M
- Portfolio turnover (prospectus): 112%
- Securities lending: none during the year
PFRL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $1K | 62.93% |
| JEFFERIES LLC | $553 | 32.59% |
| BOFA SECURITIES, INC. | $66 | 3.89% |
| GOLDMAN SACHS & CO. LLC | $10 | 0.59% |
PFRL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $77.1M | 22.01% |
| BOFA SECURITIES, INC. | $50.2M | 14.35% |
| CLEAR STREET LLC | $48.2M | 13.76% |
| GOLDMAN SACHS & CO. LLC | $32.9M | 9.39% |
| MORGAN STANLEY & CO. LLC | $31.4M | 8.96% |
| JEFFERIES LLC | $26.5M | 7.56% |
| DEUTSCHE BANK SECURITIES, INC. | $23.2M | 6.62% |
| BNP PARIBAS SECURITIES CORP. | $21.9M | 6.24% |
| BARCLAYS CAPITAL, INC. | $20.9M | 5.98% |
| WELLS FARGO SECURITIES, LLC | $18.0M | 5.13% |
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.