PHIZX Performance — PGIM Muni High Income Fund, Class Z
Data updated: 2026-07-27
PHIZX returned +2.28% year to date and +7.13% over one year to May 2026. Annualised returns are +5.59% over 3 years and +1.17% over 5 years. The fund beat its Intermediate Municipal Bond category average: $100 invested three years ago grew to $118, against $111 for the category, and to $107 over one year, against $106. Volatility over the past three years was 6.28% a year. In the 12 months to May 2026 the fund took in a net $199.0M, and assets reached $989.42M.
PHIZX Growth of $100
What $100 invested in PGIM Muni High Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Municipal Bond category average over the same months.
| Period | PHIZX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $107 | $106 |
| 3 years (Jun 2023 – May 2026) | $118 | $111 |
| 5 years (Jun 2021 – May 2026) | $106 | $104 |
| Since data start (Aug 2019 – May 2026) | $117 | $110 |
PHIZX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.28% |
| 1 year | +7.13% |
| 3 years (annualised) | +5.59% |
| 5 years (annualised) | +1.17% |
PHIZX Annual Returns
Calendar-year total returns of PGIM Muni High Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +2.28% |
| 2025 | +3.29% |
| 2024 | +4.92% |
| 2023 | +8.90% |
| 2022 | −13.64% |
| 2021 | +4.61% |
| 2020 | +4.80% |
| 2019 (Aug–Dec) | +2.23% |
PHIZX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +1.0% | +1.3% | −2.2% | +1.4% | +0.8% | — | — | — | — | — | — | — |
| 2025 | +0.7% | +0.8% | −1.5% | −1.2% | −0.1% | +0.6% | −0.8% | +0.8% | +2.8% | +1.2% | +0.4% | −0.2% |
| 2024 | −0.4% | +0.8% | +0.9% | −0.9% | +0.6% | +2.1% | +1.3% | +0.9% | +1.0% | −1.4% | +2.1% | −1.8% |
| 2023 | +3.8% | −2.6% | +1.8% | +0.3% | −0.7% | +1.7% | +0.7% | −1.4% | −3.1% | −1.4% | +7.2% | +2.8% |
| 2022 | −2.8% | −0.5% | −3.6% | −3.6% | +0.4% | −3.1% | +2.9% | −1.9% | −5.3% | −2.0% | +5.5% | −0.1% |
| 2021 | +1.7% | −1.6% | +0.9% | +1.1% | +0.7% | +0.9% | +0.9% | −0.4% | −0.9% | −0.4% | +1.3% | +0.2% |
| 2020 | +2.2% | +1.7% | −8.6% | −2.8% | +3.6% | +3.4% | +2.6% | −0.3% | −0.2% | 0.0% | +2.2% | +1.6% |
| 2019 | — | — | — | — | — | — | — | +2.1% | −0.5% | +0.2% | +0.2% | +0.2% |
PHIZX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 6.28%
- 3-year Sharpe ratio: 0.17 (vs 4.5% risk-free rate)
- Best month: +7.24% (Nov 2023)
- Worst month: −3.11% (Sep 2023)
PHIZX Fund Flows
Monthly money in and out of PGIM Muni High Income Fund, from SEC Form N-PORT.
- 12-month net flow: $199.0M
- 12-month gross sales (incl. reinvestments): $480.2M
- Sales ÷ redemptions: 1.71×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $27.7M | $15.7M | $12.0M |
| Apr 2026 | $31.9M | $16.9M | $15.0M |
| Mar 2026 | $37.2M | $27.0M | $10.2M |
| Feb 2026 | $30.4M | $32.8M | −$2.5M |
| Jan 2026 | $38.8M | $17.9M | $20.9M |
| Dec 2025 | $42.4M | $26.5M | $15.9M |
| Nov 2025 | $26.0M | $19.2M | $6.9M |
| Oct 2025 | $35.2M | $23.2M | $11.9M |
| Sep 2025 | $25.6M | $14.9M | $10.7M |
| Aug 2025 | $142.2M | $23.8M | $118.4M |
| Jul 2025 | $22.8M | $46.7M | −$23.9M |
| Jun 2025 | $20.1M | $16.5M | $3.6M |
PHIZX Assets Under Management
Net assets of PGIM Muni High Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-29 | $989.42M |
| 2026-02-27 | $962.43M |
| 2025-11-28 | $917.25M |
| 2025-08-29 | $859.52M |
| 2025-05-30 | $766.26M |
| 2025-02-28 | $830.82M |
| 2024-11-29 | $860.04M |
| 2024-08-30 | $803.51M |
| 2024-05-31 | $763.97M |
| 2024-02-29 | $741.31M |
| 2023-11-30 | $718.06M |
| 2023-08-31 | $666.61M |
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.