PHEAX Fees and Costs — PGIM Global Total Return (USD Hedged) Fund, Class A
Data updated: 2026-09-29
The net expense ratio is 0.88%: a 0.50% management fee, a 0.25% 12b-1 fee plus 2.05% other expenses, less a 1.93% fee waiver. 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 $4K in broker commissions, 0.0085% of average net assets, and portfolio turnover was 45%.
PHEAX Fees and Expenses
Annual operating expenses and sales charges of PHEAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.25% |
| Other expenses | 2.05% |
| Gross expense ratio | 2.81% |
| Fee waiver | −1.93% |
| Net expense ratio | 0.88% |
| Sales charges | |
|---|---|
| Max front load | 3.25% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PHEAX Costs Over Time
On $10,000 invested in PHEAX, assuming 5% a year before costs, total costs come to $954 over 5 years, cutting the return by 1.62% 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 0.88%) | $89 | $279 | $485 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $16 | $65 | $139 |
| Total costs | $532 | $672 | $954 |
| Value after costs | $9,968 | $10,904 | $11,809 |
| Impact on return, per year | 5.32% | 2.07% | 1.62% |
PHEAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0085%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $44.7M
- Portfolio turnover (prospectus): 45%
- Securities on loan, average value: $64K
- Net income from securities lending: $513 (0.001% of average net assets)
PHEAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $2K | 59.69% |
| GOLDMAN SACHS & CO. LLC | $1K | 27.35% |
| CitiGroup Global Markets Inc. | $187 | 4.98% |
| BOFA SECURITIES, INC. | $162 | 4.31% |
| RBC CAPITAL MARKETS, LLC | $129 | 3.43% |
| BNP Paribas Securities Corp. | $6 | 0.16% |
| DEUTSCHE BANK SECURITIES INC. | $3 | 0.08% |
PHEAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $8.0M | 21.92% |
| BOFA SECURITIES, INC. | $6.6M | 18.11% |
| MORGAN STANLEY & CO. LLC | $4.5M | 12.21% |
| CitiGroup Global Markets Inc. | $4.0M | 11.04% |
| Goldman Sachs & Co. LLC | $3.6M | 9.86% |
| DEUTSCHE BANK SECURITIES, INC. | $2.8M | 7.68% |
| BMO CAPITAL MARKETS CORP. | $2.1M | 5.73% |
| Jane Street Execution Services, LLC | $1.8M | 4.94% |
| BNP PARIBAS SECURITIES CORP. | $1.6M | 4.28% |
| WELLS FARGO SECURITIES, LLC | $1.5M | 4.24% |
PGIM Global Total Return (USD Hedged) Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PHEQX | Class R6 | 0.58% | none |
| PHEZX | Class Z | 0.63% | — |
| PHEAX | Class A | 0.88% | 3.25% |
| PHECX | Class C | 1.63% | — |
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.