PHIQX Fees and Costs — PGIM Muni High Income Fund, Class R6
Data updated: 2026-07-27
The net expense ratio is 0.49%: a 0.49% management fee plus 0.07% other expenses, less a 0.07% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $25K in broker commissions, 0.0031% of average net assets, and portfolio turnover was 56%.
PHIQX Fees and Expenses
Annual operating expenses and sales charges of PHIQX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.49% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.07% |
| Gross expense ratio | 0.56% |
| Fee waiver | −0.07% |
| Net expense ratio | 0.49% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| 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 |
PHIQX Costs Over Time
On $10,000 invested in PHIQX, assuming 5% a year before costs, total costs come to $312 over 5 years, cutting the return by 0.52% 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 0.49%) | $51 | $161 | $281 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $52 | $170 | $312 |
| Value after costs | $10,448 | $11,406 | $12,451 |
| Impact on return, per year | 0.52% | 0.52% | 0.52% |
PHIQX 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): 0.0031%
- Total broker commissions: $25K
- Bought from dealers (principal trades, not a cost): $872.0M
- Portfolio turnover (prospectus): 56%
- Securities lending: none during the year
PHIQX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $16K | 65.95% |
| J.P. Morgan Securities LLC | $4K | 17.79% |
| CITADEL SECURITIES LLC | $2K | 8.02% |
| SIG BROKERAGE, LP | $1K | 4.81% |
| BOFA SECURITIES, INC. | $855 | 3.43% |
PHIQX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $153.6M | 22.10% |
| BARCLAYS CAPITAL, INC. | $105.3M | 15.15% |
| J.P. Morgan Securities LLC | $102.1M | 14.68% |
| WELLS FARGO SECURITIES, LLC | $68.3M | 9.83% |
| CitiGroup Global Markets Inc. | $59.6M | 8.58% |
| MORGAN STANLEY & CO. LLC | $59.0M | 8.49% |
| JEFFERIES LLC | $43.2M | 6.22% |
| RBC CAPITAL MARKETS, LLC | $39.2M | 5.63% |
| PIPER SANDLER & CO. | $37.0M | 5.32% |
| Goldman Sachs & Co. LLC | $27.8M | 3.99% |
PGIM Muni High Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PHIQX | Class R6 | 0.49% | none |
| PHIZX | Class Z | 0.58% | none |
| PRHAX | Class A | 0.81% | 3.25% |
| PHICX | Class C | 1.64% | 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.