PSDM Fees and Costs — PGIM Short Duration Multi-Sector Bond ETF
Data updated: 2026-07-27
The net expense ratio is 0.40% (0.41% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3K in broker commissions, 0.0053% of average net assets, and portfolio turnover was 108%.
PSDM Fees and Expenses
Annual operating expenses and sales charges of PSDM. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.41% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.40% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
PSDM Costs Over Time
On $10,000 invested in PSDM, assuming 5% a year before costs, total costs come to $257 over 5 years, cutting the return by 0.43% 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 0.40%) | $42 | $132 | $230 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $7 | $23 |
| Total costs | $43 | $140 | $257 |
| Value after costs | $10,457 | $11,436 | $12,506 |
| Impact on return, per year | 0.43% | 0.43% | 0.43% |
PSDM 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): 0.0053%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $152.0M
- Portfolio turnover (prospectus): 108%
- Securities lending: none during the year
PSDM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $3K | 84.74% |
| RBC CAPITAL MARKETS, LLC | $376 | 10.89% |
| GOLDMAN SACHS & CO. LLC | $50 | 1.45% |
| CITIGROUP GLOBAL MARKETS INC. | $39 | 1.13% |
| MORGAN STANLEY & CO. LLC | $22 | 0.64% |
| BARCLAYS CAPITAL, INC. | $15 | 0.43% |
| CITADEL SECURITIES LLC | $13 | 0.38% |
| BOFA SECURITIES, INC. | $9 | 0.26% |
| DEUTSCHE BANK SECURITIES INC. | $3 | 0.09% |
PSDM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $23.8M | 19.13% |
| BOFA SECURITIES, INC. | $15.3M | 12.32% |
| CitiGroup Global Markets Inc. | $15.0M | 12.07% |
| The Bank of Nova Scotia | $14.9M | 11.98% |
| WELLS FARGO SECURITIES, LLC | $13.9M | 11.18% |
| MORGAN STANLEY & CO. LLC | $12.1M | 9.68% |
| GOLDMAN SACHS & CO. LLC | $10.0M | 8.02% |
| BARCLAYS CAPITAL, INC. | $8.1M | 6.46% |
| BNP PARIBAS SECURITIES CORP. | $6.4M | 5.15% |
| TD SECURITIES (USA) LLC | $5.0M | 4.01% |
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.