PGIM Active High Yield Bond ETF
$34.06−0.25 (−0.73%)
- Expense ratio
- 0.39%
- Fund size
- $1.4B
- 1Y return
- +2.6%
- Yield · Last 12 months
- 7.02%
- Holdings
- 476
- Volume · 30D
- 0.2M sh
- NAV per share
- $34.24
- 52W range
The ETF.net PHYL Grade
Score 69 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 58Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 62Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 52Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 72Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 68Category rank
Our read on PHYL
BA junk-bond ETF with a human at the wheel. PGIM's credit team picks the roughly 500 bonds here instead of buying the index, and charges about what the average high-yield ETF charges to do it.
The fund seeks total return from current income and capital appreciation.
Why people hold it
- Actively managed, yet priced at 0.39%, right at the high-yield ETF median. Active credit picking usually carries a fatter toll booth than that.
- Roughly 500 below-investment-grade positions, so no single blown-up issuer defines the outcome. Income is paid out monthly.
- The portfolio sticks tightly to the stated brief: US high-yield corporate credit, chosen with issuer-level and quantitative risk analysis. One of the closer mandate matches in its peer group.
- Live since 2018, so the strategy has traded through real credit stress rather than a backtest.
Worth knowing
- Index rivals are far cheaper: SCYB at 0.03% and SPHY at 0.05%. The manager's judgment is what the extra fee buys, and active calls can miss.
- This is junk debt by design. Below-investment-grade issuers default more often, and prices tend to swing with the credit cycle rather than with Treasury yields.
- Trading is moderate, not torrential. Spreads can run wider here than on the largest index high-yield ETFs, which matters most for big or hurried orders.
PHYL Holdings
- Bonds
- 476
- 9%
- Net Current Assets
Sectors
- Energy59.0%
- Communication41.1%
Geography
- United States89.24%
- Canada5.59%
- Cayman Islands0.92%
- Australia0.67%
- United Kingdom0.61%
- France0.56%
- Luxembourg0.55%
- Malta0.55%
- 1.31%
PHYL Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | PHYL |
|---|---|
| Year to date | +1.4% |
| 1 month | −0.7% |
| 3 months | −0.2% |
| 1 year | +2.6% |
| 3 years | +8.7% |
| 5 years | +3.6% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | PHYL |
|---|---|---|
| 2026 YTD | +1.4% | |
| 2025 | +9.6% | |
| 2024 | +8.4% | |
| 2023 | +11.9% | |
| 2022 | −11.8% | |
| 2021 | +6.2% | |
| 2020 | +6.3% |
PHYL in the news
ETF.net Research hasn’t filed on PHYL yet — coverage lands here as it’s written.
PHYL Dividends
- 7.02%
- $2.41
- $0.21 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 31, 2026 | Sep 2, 2026 | $0.21 |
| Jul 31, 2026 | Aug 4, 2026 | $0.21 |
| Jun 30, 2026 | Jul 2, 2026 | $0.21 |
| May 29, 2026 | Jun 2, 2026 | $0.21 |
| Apr 30, 2026 | May 4, 2026 | $0.21 |
| Mar 31, 2026 | Apr 2, 2026 | $0.22 |
| Mar 2, 2026 | Mar 4, 2026 | $0.19 |
| Feb 2, 2026 | Feb 4, 2026 | $0.21 |
| Dec 30, 2025 | Jan 2, 2026 | $0.15 |
| Dec 1, 2025 | Dec 3, 2025 | $0.19 |
| Nov 3, 2025 | Nov 5, 2025 | $0.19 |
| Oct 1, 2025 | Oct 3, 2025 | $0.22 |
PHYL Risk
- 4.9%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.77
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −16.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.71
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PHYL Cost
- The middle half of US High Yield funds
- Median 0.43%
29 of the 84 US High Yield funds charge less.