PGIM
JENNISON FOCUSED GROWTH ETF | ||||||||
Ticker
Symbol: PJFG |
Listing
Exchange: NYSE Arca, 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,
member SIPC. Jennison Associates
LLC
is a registered investment adviser. Both
are
Prudential Financial companies. © 2023
Prudential
Financial, Inc. and its related
entities.
Jennison Associates, Jennison, 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 |
5
Years |
10
Years |
|
$ |
$ |
$ |
$ |
Investment
Manager |
Subadviser |
Portfolio
Managers |
Title |
Service
Date |
PGIM
Investments LLC |
Jennison
Associates LLC |
Natasha
Kuhlkin, CFA |
Managing
Director |
December
2022 |
|
|
Kathleen
A.
McCarragher |
Managing
Director |
December
2022 |
|
|
Jason
T. McManus |
Managing
Director |
December
2022 |
|
|
Blair
A. Boyer |
Managing
Director |
March
2023 |
Principal
Strategies: Investment Limits |
◾Equity
and other Equity-Related Securities: At least 65% of total
assets ◾Foreign
Securities: Up to 35% of total
assets |
Certain
Non-Principal Strategies: Investment Limits |
◾Money
Market Instruments: Up to 100% of total assets on a temporary basis
◾Short
Sales: Up to 25% of net assets (short sales “against-the-box”
are not subject to these limits) ◾Illiquid
Investments: Up to 15% of net assets ◾Securities
of Real Estate Investment Trusts (“REITs”):
Up to 25% of investable
assets |
Annualized
Returns | |||
As
of August 31, 2023 |
Net
of Fee Return |
Gross
of Fee Return |
Russell
1000 Growth Index |
Since
Inception (04/17/2017) |
13.56% |
15.58% |
16.26% |
Calendar
Year Returns | |||
Year |
Net
of Fee Return |
Gross
of Fee Return |
Russell
1000 Growth Index |
2023
(1/1/23-8/31/23) |
37.45% |
39.09% |
32.17% |
2022 |
-40.89% |
-39.83% |
-29.14% |
2021 |
4.98% |
6.86% |
27.60%
|
Calendar
Year Returns | |||
Year |
Net
of Fee Return |
Gross
of Fee Return |
Russell
1000 Growth Index |
2020 |
65.52% |
68.49% |
38.49% |
2019 |
31.44% |
33.80% |
36.39% |
2018 |
1.42% |
3.24% |
-1.51% |
2017* |
18.87% |
20.29% |
16.89% |
Expected
Distribution Schedule* |
|
Net
Investment Income |
Annually |
Short-Term
Capital Gains |
Annually |
Long-Term
Capital Gains |
Annually |
| |
|
December
12, 2022(a)
through
August 31, 2023 |
| |
Per
Share Operating Performance(b): | |
Net
Asset Value, Beginning of Period |
$50.00 |
Income
(loss) from investment operations: | |
Net
investment income (loss) |
(0.06) |
Net
realized and unrealized gain (loss) on investment
transactions |
15.75 |
Total
from investment operations |
15.69 |
Net
asset value, end of period |
$65.69 |
Total
Return(c): |
31.38% |
| |
Ratios/Supplemental
Data: | |
Net
assets, end of period (000) |
$57,150 |
Average
net assets (000) |
$44,323 |
Ratios
to average net assets(d): |
|
Expenses
after waivers and/or expense reimbursement |
0.75%(e) |
Expenses
before waivers and/or expense reimbursement |
0.75%(e) |
Net
investment income (loss) |
(0.15)%(e) |
Portfolio
turnover rate(f) |
32% |
(a) |
Commencement
of operations. |
(b) |
Calculated
based on average shares outstanding during the
period. |
(c) |
Total
return is calculated assuming a purchase of a share on the first day and a
sale on the last day of each period reported and includes reinvestment of
dividends and
distributions,
if any. Total returns may reflect adjustments to conform to GAAP. Total
returns for periods less than one full year are not
annualized. |
(d) |
Does
not include expenses of the underlying funds in which the Fund
invests. |
(e) |
Annualized. |
(f) |
The
Fund's portfolio turnover rate is calculated in accordance with regulatory
requirements, without regard to transactions involving short-term
investments, certain derivatives
and
in-kind transactions (if any). If such transactions were included, the
Fund's portfolio turnover rate may be
higher. |
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 year) |
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
Jennison Focused Growth ETF | |
Ticker
Symbol |
PJFG |
Listing
Exchange |
NYSE
Arca, Inc. |