PHYEX Performance — PGIM High Yield Fund, Class R2
Data updated: 2026-07-27
PHYEX returned +1.59% year to date and +7.34% over one year to May 2026. Annualised returns are +8.90% over 3 years and +3.78% over 5 years. The fund beat its High Yield Bond category average: $100 invested three years ago grew to $129, against $126 for the category, and to $107 over one year, against $107. Volatility over the past three years was 4.62% a year. In the 12 months to May 2026 the fund took in a net $2.6B, and assets reached $22.28B.
PHYEX Growth of $100
What $100 invested in PGIM High Yield Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the High Yield Bond category average over the same months.
| Period | PHYEX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $107 | $107 |
| 3 years (Jun 2023 – May 2026) | $129 | $126 |
| 5 years (Jun 2021 – May 2026) | $120 | $120 |
| Since data start (Sep 2019 – May 2026) | $135 | $132 |
PHYEX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.59% |
| 1 year | +7.34% |
| 3 years (annualised) | +8.90% |
| 5 years (annualised) | +3.78% |
PHYEX Annual Returns
Calendar-year total returns of PGIM High Yield Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.59% |
| 2025 | +8.80% |
| 2024 | +7.89% |
| 2023 | +11.48% |
| 2022 | −11.82% |
| 2021 | +5.92% |
| 2020 | +5.01% |
| 2019 (Sep–Dec) | +3.58% |
PHYEX 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 | +0.5% | +0.3% | −1.3% | +1.8% | +0.3% | — | — | — | — | — | — | — |
| 2025 | +1.6% | +0.9% | −1.1% | +0.1% | +1.4% | +2.0% | +0.5% | +1.6% | +0.1% | +0.3% | +0.3% | +0.7% |
| 2024 | −0.1% | +0.5% | +1.2% | −1.1% | +1.2% | +1.0% | +1.8% | +1.6% | +2.0% | −0.9% | +0.9% | −0.5% |
| 2023 | +3.2% | −1.6% | +1.1% | +1.2% | −0.9% | +1.4% | +1.6% | +0.1% | −1.7% | −1.5% | +4.4% | +3.9% |
| 2022 | −2.5% | −0.9% | −1.4% | −3.5% | +0.5% | −6.6% | +5.2% | −2.1% | −4.4% | +2.4% | +2.1% | −0.7% |
| 2021 | +0.8% | +0.4% | +0.3% | +1.2% | +0.4% | +1.1% | +0.2% | +0.6% | +0.2% | −0.1% | −1.2% | +1.9% |
| 2020 | −0.4% | −1.5% | −12.7% | +4.4% | +5.1% | +0.9% | +4.4% | +1.2% | −0.7% | −0.1% | +3.9% | +1.9% |
| 2019 | — | — | — | — | — | — | — | — | +0.4% | −0.1% | +0.9% | +2.3% |
PHYEX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 4.62%
- 3-year Sharpe ratio: 0.95 (vs 4.5% risk-free rate)
- Best month: +4.40% (Nov 2023)
- Worst month: −1.70% (Sep 2023)
PHYEX Fund Flows
Monthly money in and out of PGIM High Yield Fund, from SEC Form N-PORT.
- 12-month net flow: $2.6B
- 12-month gross sales (incl. reinvestments): $9.2B
- Sales ÷ redemptions: 1.40×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $578.7M | $376.2M | $202.6M |
| Apr 2026 | $1.2B | $494.8M | $691.7M |
| Mar 2026 | $738.5M | $555.8M | $182.7M |
| Feb 2026 | $1.1B | $927.2M | $212.4M |
| Jan 2026 | $631.1M | $498.7M | $132.4M |
| Dec 2025 | $820.3M | $517.7M | $302.6M |
| Nov 2025 | $703.9M | $429.4M | $274.4M |
| Oct 2025 | $631.1M | $1.1B | −$502.2M |
| Sep 2025 | $959.2M | $433.6M | $525.7M |
| Aug 2025 | $594.5M | $489.5M | $105.0M |
| Jul 2025 | $723.5M | $424.3M | $299.2M |
| Jun 2025 | $536.5M | $335.4M | $201.0M |
PHYEX Assets Under Management
Net assets of PGIM High Yield Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-29 | $22.28B |
| 2026-02-27 | $21.38B |
| 2025-11-28 | $20.79B |
| 2025-08-29 | $20.65B |
| 2025-05-30 | $19.55B |
| 2025-02-28 | $20.00B |
| 2024-11-29 | $19.43B |
| 2024-08-30 | $19.10B |
| 2024-05-31 | $18.43B |
| 2024-02-29 | $18.26B |
| 2023-11-30 | $17.29B |
| 2023-08-31 | $17.91B |
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.