PGIM
SHORT DURATION HIGH YIELD ETF | ||||||||
Ticker
Symbol: PSH |
Listing
Exchange: Cboe BZX Exchange, Inc. |
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The
Securities and Exchange Commission
(“SEC”)
has not approved or disapproved the
Fund's
shares, nor has the SEC determined
that
this prospectus is complete or accurate.
It
is a criminal offense to state otherwise. Exchange-traded
funds are distributed by
Prudential
Investment Management Services
LLC
(“PIMS”), member SIPC. PGIM Fixed
Income
is a unit of PGIM, Inc. (“PGIM”), a
registered
investment adviser. PIMS and
PGIM
are Prudential Financial companies.
©
2023 Prudential Financial, Inc. and its
related
entities. The Prudential logo and the
Rock
symbol are service marks of Prudential
Financial,
Inc. and its related entities,
registered
in many jurisdictions worldwide. |
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Management
fee |
|
Distribution
and service (12b-1) fees |
|
Other
expenses |
|
Total
annual Fund operating expenses |
|
Number
of Years You Own Shares |
1
Year |
3
Years |
|
$ |
$ |
Investment
Manager |
Subadvisers |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
PGIM
Fixed Income*
PGIM
Limited |
Robert
Cignarella, CFA |
Managing
Director
and
Head of U.S. High
Yield |
December
2023 |
|
|
Robert
Spano, CFA |
Principal |
December
2023 |
|
|
Brian
Clapp, CFA |
Principal |
December
2023 |
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|
Brian
Lalli |
Principal |
December
2023 |
|
|
Michael
Gormally |
Vice
President and
Portfolio
Manager |
December
2023 |
Principal
Strategies: Investment Limits |
◾High
yield fixed income instruments (junk bonds): At least 80% of investable
assets ◾Portfolio
duration: Weighted average duration of three years or less and a weighted
average life of five years or less ◾Derivatives:
Up to 25% of net assets (subject to the Fund’s operation under the
requirements of Rule 18f-4 under the
Investment
Company Act of 1940) ◾Variable
rate and floating rate securities: Percentage
varies |
Certain
Non-Principal Strategies: Investment Limits |
◾Investment
grade instruments: Up to 20% of investable assets ◾Loan
participations and assignments: Up to 20% of investable
assets ◾Short
Sales: Up to 25% of net assets (excluding short sales against-the-box)
◾U.S.
Government securities, money market instruments or high-quality bank or
corporate obligations: Up to 100% of
investable
assets on temporary basis ◾Yankee
dollar obligations, Eurobonds and global bonds: Percentage varies
◾Illiquid
investments: Up to 15% of net
assets |
Expected
Distribution Schedule* |
|
Net
Investment Income |
Monthly |
Short-Term
Capital Gains |
Annually |
Long-Term
Capital Gains |
Annually |
FOR
MORE INFORMATION
Please
read this Prospectus before you invest in the Fund and keep it for future
reference. Information on the Fund's net asset
value,
market price, premiums and discounts, and bid-ask spreads can be found at
pgim.com/investments.
For
information or shareholder questions contact: | |
◾MAIL
PGIM
Investments LLC
655
Broad Street, 6th Floor
Newark,
NJ 07102 ◾WEBSITE
pgim.com/investments |
◾TELEPHONE
(888)
247-8090
(973)
802-2093
(from
outside the U.S.) |
◾E-DELIVERY
You
may request e-delivery of Fund documents by contacting your financial
intermediary directly or by going to
www.icsdelivery.com.
Instead of receiving printed documents by mail, you will receive
notification via email when new materials
are
available. You can cancel your enrollment or change your email address at
any time by visiting the website address
above. |
The
Annual and Semi-Annual Reports and the SAI contain additional information
about the Fund. Shareholders may obtain free
copies
of the SAI, Annual Report and Semi-Annual Report as well as other
information about the Fund and may make other
shareholder
inquiries through the telephone number, address and website listed
above. | |
◾STATEMENT
OF ADDITIONAL INFORMATION (SAI)
(incorporated
by reference into this Prospectus) ◾SEMI-ANNUAL
REPORT |
◾ANNUAL
REPORT
(contains
a discussion of the market conditions and
investment
strategies that significantly affected the Fund's
performance
during the last fiscal
period) |
You
can also obtain copies of Fund documents, including the SAI, from the
Securities and Exchange Commission as follows (the
SEC
charges a fee to copy documents): | |
◾ELECTRONIC
REQUEST
|
◾VIA
THE INTERNET
on
the EDGAR Database at
www.sec.gov |
PGIM
Short Duration High Yield ETF | |
Ticker
Symbol |
PSH |
Listing
Exchange |
Cboe
BZX Exchange, Inc. |