PNMCX Performance — PGIM National Muni Fund, Class C
Data updated: 2026-07-27
PNMCX returned +0.78% year to date and +5.02% over one year to May 2026. Annualised returns are +3.00% over 3 years and +0.04% over 5 years. The fund trailed its Intermediate Municipal Bond category average: $100 invested three years ago grew to $109, against $111 for the category, and to $105 over one year, against $106. Volatility over the past three years was 3.90% a year. In the 12 months to May 2026 the fund took in a net $172.9M, and assets reached $1.23B.
PNMCX Growth of $100
What $100 invested in PGIM National Muni 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 | PNMCX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $105 | $106 |
| 3 years (Jun 2023 – May 2026) | $109 | $111 |
| 5 years (Jun 2021 – May 2026) | $100 | $104 |
| Since data start (Sep 2019 – May 2026) | $103 | $109 |
PNMCX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.78% |
| 1 year | +5.02% |
| 3 years (annualised) | +3.00% |
| 5 years (annualised) | +0.04% |
PNMCX Annual Returns
Calendar-year total returns of PGIM National Muni Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +0.78% |
| 2025 | +3.72% |
| 2024 | +0.79% |
| 2023 | +4.65% |
| 2022 | −9.01% |
| 2021 | +0.32% |
| 2020 | +3.17% |
| 2019 (Sep–Dec) | −0.51% |
PNMCX 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% | +0.9% | −2.2% | +1.0% | +0.2% | — | — | — | — | — | — | — |
| 2025 | +0.5% | +0.7% | −1.2% | −0.7% | +0.2% | +0.5% | +0.1% | +0.7% | +1.5% | +1.0% | +0.1% | +0.2% |
| 2024 | −0.3% | +0.1% | +0.1% | −0.8% | −0.3% | +1.0% | +0.8% | +0.6% | +0.7% | −1.2% | +1.1% | −1.0% |
| 2023 | +2.1% | −1.8% | +1.5% | −0.2% | −0.7% | +0.8% | +0.4% | −0.9% | −1.9% | −0.4% | +4.1% | +1.7% |
| 2022 | −2.8% | −0.5% | −3.2% | −2.5% | +0.9% | −1.1% | +1.9% | −1.7% | −2.9% | −0.8% | +3.1% | +0.4% |
| 2021 | +0.7% | −1.6% | +0.6% | +0.6% | +0.2% | +0.1% | +0.7% | −0.4% | −0.8% | −0.4% | +0.5% | +0.1% |
| 2020 | +2.0% | +1.5% | −5.9% | −1.8% | +2.8% | +1.6% | +1.8% | −0.3% | −0.1% | −0.3% | +1.3% | +0.9% |
| 2019 | — | — | — | — | — | — | — | — | −0.8% | 0.0% | +0.1% | +0.2% |
PNMCX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 3.90%
- 3-year Sharpe ratio: -0.38 (vs 4.5% risk-free rate)
- Best month: +4.13% (Nov 2023)
- Worst month: −2.19% (Mar 2026)
PNMCX Fund Flows
Monthly money in and out of PGIM National Muni Fund, from SEC Form N-PORT.
- 12-month net flow: $172.9M
- 12-month gross sales (incl. reinvestments): $443.6M
- Sales ÷ redemptions: 1.64×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $34.4M | $22.7M | $11.7M |
| Apr 2026 | $28.4M | $30.3M | −$1.9M |
| Mar 2026 | $36.1M | $23.7M | $12.4M |
| Feb 2026 | $31.5M | $16.6M | $14.9M |
| Jan 2026 | $40.0M | $17.0M | $23.0M |
| Dec 2025 | $45.6M | $19.8M | $25.8M |
| Nov 2025 | $35.1M | $22.7M | $12.4M |
| Oct 2025 | $39.4M | $21.8M | $17.6M |
| Sep 2025 | $36.4M | $20.6M | $15.8M |
| Aug 2025 | $46.1M | $23.6M | $22.5M |
| Jul 2025 | $34.8M | $25.5M | $9.3M |
| Jun 2025 | $35.7M | $26.2M | $9.5M |
PNMCX Assets Under Management
Net assets of PGIM National Muni Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-29 | $1.23B |
| 2026-02-27 | $1.23B |
| 2025-11-28 | $1.15B |
| 2025-08-29 | $1.08B |
| 2025-05-30 | $1.03B |
| 2025-02-28 | $1.07B |
| 2024-11-29 | $1.07B |
| 2024-08-30 | $1.06B |
| 2024-05-31 | $1.04B |
| 2024-02-29 | $1.05B |
| 2023-11-30 | $992.22M |
| 2023-08-31 | $921.24M |
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.