PNMQX Fees and Costs — PGIM National Muni Fund, Class R6
Data updated: 2026-07-27
The net expense ratio is 0.29%: a 0.29% management fee plus 0.04% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $9K in broker commissions, 0.0008% of average net assets, and portfolio turnover was 62%.
PNMQX Fees and Expenses
Annual operating expenses and sales charges of PNMQX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.04% |
| Gross expense ratio | 0.33% |
| Fee waiver | −0.04% |
| Net expense ratio | 0.29% |
| 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 |
PNMQX Costs Over Time
On $10,000 invested in PNMQX, assuming 5% a year before costs, total costs come to $184 over 5 years, cutting the return by 0.31% 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 0.29%) | $30 | $96 | $167 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $31 | $101 | $184 |
| Value after costs | $10,469 | $11,476 | $12,578 |
| Impact on return, per year | 0.31% | 0.31% | 0.31% |
PNMQX 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): 0.0008%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): $1.2B
- Portfolio turnover (prospectus): 62%
- Securities lending: none during the year
PNMQX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $4K | 50.44% |
| J.P. MORGAN SECURITIES LLC | $4K | 45.21% |
| BOFA SECURITIES, INC. | $386 | 4.35% |
PNMQX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $229.5M | 22.30% |
| J.P. Morgan Securities LLC | $158.9M | 15.44% |
| WELLS FARGO SECURITIES, LLC | $158.6M | 15.41% |
| BARCLAYS CAPITAL, INC. | $128.3M | 12.47% |
| MORGAN STANLEY & CO. LLC | $123.4M | 11.99% |
| JEFFERIES LLC | $71.5M | 6.95% |
| PIPER SANDLER & CO. | $51.8M | 5.04% |
| RBC CAPITAL MARKETS, LLC | $51.8M | 5.03% |
| SIEBERT WILLIAMS SHANK & CO., LLC | $29.7M | 2.89% |
| GOLDMAN SACHS & CO. LLC | $25.6M | 2.48% |
PGIM National Muni Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PNMQX | Class R6 | 0.29% | none |
| DNMZX | Class Z | 0.36% | none |
| PRNMX | Class A | 0.61% | 3.25% |
| PNMCX | Class C | 1.53% | 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.