10/03/2024 | Press release | Distributed by Public on 10/03/2024 08:13
PGIM ULTRA SHORT BOND ETF
|
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Ticker Symbol:
PULS
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Listing Exchange:
NYSE Arca, Inc.
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PGIM ACTIVE HIGH YIELD BOND ETF
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Ticker Symbol:
PHYL
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Listing Exchange:
NYSE Arca, Inc
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PGIM ACTIVE AGGREGATE BOND ETF
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Ticker Symbol:
PAB
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Listing Exchange:
NYSE Arca, Inc.
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PGIM TOTAL RETURN BOND ETF
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Ticker Symbol:
PTRB
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Listing Exchange:
NYSE Arca, Inc.
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PGIM FLOATING RATE INCOME ETF
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Ticker Symbol:
PFRL
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Listing Exchange:
NYSE Arca, Inc.
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PGIM AAA CLO ETF
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Ticker Symbol:
PAAA
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Listing Exchange:
NYSE Arca, Inc.
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PGIM SHORT DURATION MULTI-SECTOR BOND ETF
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Ticker Symbol:
PSDM
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Listing Exchange:
Cboe BZX Exchange, Inc.
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PGIM SHORT DURATION HIGH YIELD ETF
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Ticker Symbol:
PSH
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Listing Exchange:
Cboe BZX Exchange, Inc.
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3
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PART I
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3
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INTRODUCTION
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3
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GLOSSARY
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4
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FUND CLASSIFICATION, INVESTMENT Objectives & POLICIES
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4
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EXCHANGE LISTING AND TRADING
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5
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INVESTMENTS, INVESTMENT STRATEGIES AND RISKS
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35
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INVESTMENT RESTRICTIONS
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37
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INFORMATION ABOUT BOARD MEMBERS AND OFFICERS
|
46
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MANAGEMENT & ADVISORY ARRANGEMENTS
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61
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OTHER SERVICE PROVIDERS
|
65
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PORTFOLIO TRANSACTIONS & BROKERAGE
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69
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ADDITIONAL INFORMATION
|
70
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PRINCIPAL SHAREHOLDERS AND CONTROL PERSONS
|
72
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FINANCIAL STATEMENTS
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73
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PART II
|
73
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CREATIONS AND REDEMPTIONS OF FUND SHARES
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79
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NET ASSET VALUE
|
80
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TAXES, DIVIDENDS AND DISTRIBUTIONS
|
89
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DISCLOSURE OF PORTFOLIO HOLDINGS
|
91
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PROXY VOTING
|
91
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CODES OF ETHICS
|
92
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APPENDIX I: PROXY VOTING POLICIES OF THE SUBADVISER
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93
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APPENDIX II: DESCRIPTIONS OF SECURITY RATINGS
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Term
|
Definition
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1933 Act
|
Securities Act of 1933, as amended, and the rules thereunder
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1934 Act
|
Securities Exchange Act of 1934, as amended, and the rules thereunder
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1940 Act
|
Investment Company Act of 1940, as amended, and the rules thereunder
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1940 Act Laws, Interpretations and Exemptions
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1940 Act, Exemptive order, SEC release, no-action letter or similar relief or interpretations, collectively
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ADR
|
American Depositary Receipt
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ADS
|
American Depositary Share
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Board
|
Fund's Board of Directors or Trustees
|
Board Member
|
A trustee or director of the Fund's Board
|
CEA
|
Commodity Exchange Act, as amended
|
CFTC
|
U.S. Commodity Futures Trading Commission
|
Code
|
Internal Revenue Code of 1986, as amended
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CMO
|
Collateralized Mortgage Obligation
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ETF
|
Exchange-Traded Fund
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EDR
|
European Depositary Receipt
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Exchange
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NYSE Arca, Inc. or Cboe BZX Exchange, Inc., as applicable
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Fannie Mae
|
Federal National Mortgage Association
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FDIC
|
Federal Deposit Insurance Corporation
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Fitch
|
Fitch Ratings, Inc.
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Freddie Mac
|
Federal Home Loan Mortgage Corporation
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GDR
|
Global Depositary Receipt
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Ginnie Mae
|
Government National Mortgage Association
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Term
|
Definition
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IPO
|
Initial Public Offering
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IRS
|
Internal Revenue Service
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LIBOR
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London Interbank Offered Rate
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Manager or PGIM Investments
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PGIM Investments LLC
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Moody's
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Moody's Investors Service, Inc.
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NASDAQ
|
National Association of Securities Dealers Automated Quotations
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NAV
|
Net Asset Value
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NRSRO
|
Nationally Recognized Statistical Rating Organization
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NYSE
|
New York Stock Exchange
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OTC
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Over the Counter
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Prudential
|
Prudential Financial, Inc.
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QPTP
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Qualified Publicly Traded Partnership
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REIT
|
Real Estate Investment Trust
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RIC
|
Regulated Investment Company, as the term is used in the Internal Revenue Code of 1986, as amended
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S&P
|
S&P Global Ratings
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SEC
|
U.S. Securities and Exchange Commission
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SOFR
|
Secured Overnight Financing Rate
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World Bank
|
International Bank for Reconstruction and Development
|
Independent Board Members
|
|||
Name
Year of Birth
Position(s)
Portfolios Overseen
|
Principal Occupation(s)
During Past Five Years
|
Other Directorships
Held During
Past Five Years
|
Length of
Board Service
|
Ellen S. Alberding
1958
Board Member
Portfolios Overseen: 100
|
Chief Executive Officer ("CEO") and President,
The Joyce Foundation (charitable foundation)
(since 2002); formerly Vice Chair, City Colleges
of Chicago (community college system)
(2011-2015); formerly Trustee, National Park
Foundation (charitable foundation for national
park system) (2009-2018); formerly Trustee,
Economic Club of Chicago (2009-2016);
Trustee, Loyola University (since 2018).
|
None.
|
Since December 2017
|
Kevin J. Bannon
1952
Board Member
Portfolios Overseen: 101
|
Retired; formerly Managing Director (April
2008-May 2015) and Chief Investment Officer
(October 2008-November 2013) of Highmount
Capital LLC (registered investment adviser);
formerly Executive Vice President and Chief
Investment Officer (April 1993-August 2007) of
Bank of New York Company; formerly President
(May 2003-May 2007) of BNY Hamilton Family
of Mutual Funds.
|
Director of Urstadt Biddle Properties (equity real
estate investment trust) (September
2008-August 2023).
|
Since December 2017
|
Linda W. Bynoe
1952
Board Member
Portfolios Overseen: 98
|
President and Chief Executive Officer (since
March 1995) and formerly Chief Operating
Officer (December 1989-February 1995) of
Telemat Limited LLC(formerlyTelemat Ltd)
(management consulting); formerly Vice
President (January 1985-June 1989) at Morgan
Stanley & Co. (broker-dealer).
|
Trustee of Equity Residential (residential real
estate) (since December 2009); Director of
Northern Trust Corporation (financial services)
(since April 2006); formerly Director of Anixter
International, Inc. (communication products
distributor) (January 2006-June 2020).
|
Since December 2017
|
Barry H. Evans
1960
Board Member
Portfolios Overseen: 101
|
Retired; formerly President (2005-2016), Global
Chief Operating Officer (2014-2016), Chief
Investment Officer - Global Head of Fixed
Income (1998-2014), and various portfolio
manager roles (1986-2006), Manulife Asset
Management (asset management).
|
Formerly Director, Manulife Trust Company
(2011-2018); formerly Director, Manulife Asset
Management Limited (2015-2017); formerly
Chairman of the Board of Directors of Manulife
Asset Management U.S. (2005-2016); formerly
Chairman of the Board, Declaration Investment
Management and Research (2008-2016).
|
Since December 2017
|
Keith F. Hartstein
1956
Board Member &
Independent Chair
Portfolios Overseen: 101
|
Retired; formerly Member (November 2014-
September 2022) of the Governing Council of
the Independent Directors Council (IDC)
(organization of independent mutual fund
directors); formerly Executive Committee of the
IDC Board of Governors (October
2019-December 2021); formerly President and
Chief Executive Officer (2005-2012), Senior Vice
President (2004-2005), Senior Vice President of
Sales and Marketing (1997-2004), and various
executive management positions (1990-1997),
John Hancock Funds, LLC (asset management);
formerly Chairman, Investment Company
Institute's Sales Force Marketing Committee
(2003-2008).
|
None.
|
Since December 2017
|
Laurie Simon Hodrick
1962
Board Member
Portfolios Overseen: 98
|
A. Barton Hepburn Professor Emerita of
Economics in the Faculty of Business, Columbia
Business School (since 2018); Visiting Fellow at
the Hoover Institution, Stanford University
(since 2015); Sole Member, ReidCourt LLC
(since 2008) (a consulting firm); formerly
Visiting Professor of Law, Stanford Law School
(2015-2021); formerly A. Barton Hepburn
Professor of Economics in the Faculty of
Business, Columbia Business School
(1996-2017); formerly Managing Director,
Global Head of Alternative Investment
Strategies, Deutsche Bank (2006-2008).
|
Independent Director, Andela (since January
2022) (global talent network); Independent
Director, Roku (since December 2020)
(communication services); formerly Independent
Director, Synnex Corporation (2019-2021)
(information technology); formerly Independent
Director, Kabbage, Inc. (2018-2020) (financial
services); formerly Independent Director,
Corporate Capital Trust (2017-2018) (a
business development company).
|
Since December 2017
|
Independent Board Members
|
|||
Name
Year of Birth
Position(s)
Portfolios Overseen
|
Principal Occupation(s)
During Past Five Years
|
Other Directorships
Held During
Past Five Years
|
Length of
Board Service
|
Brian K. Reid
1961
Board Member
Portfolios Overseen: 101
|
Retired; formerly Chief Economist for the
Investment Company Institute (ICI)
(2005-2017); formerly Senior Economist and
Director of Industry and Financial Analysis at
the ICI (1998-2004); formerly Senior Economist,
Industry and Financial Analysis at the ICI
(1996-1998); formerly Staff Economist at the
Federal Reserve Board (1989-1996); formerly
Director, ICI Mutual Insurance Company
(2012-2017).
|
None.
|
Since March 2018
|
Grace C. Torres
1959
Board Member
Portfolios Overseen: 101
|
Retired; formerly Treasurer and Principal
Financial and Accounting Officer of the PGIM
Funds, Target Funds, Advanced Series Trust,
Prudential Variable Contract Accounts and The
Prudential Series Fund (1998-June 2014);
Assistant Treasurer (March 1999-June 2014)
and Senior Vice President (September
1999-June 2014) of PGIM Investments LLC;
Assistant Treasurer (May 2003-June 2014) and
Vice President (June 2005-June 2014) of AST
Investment Services, Inc.; Senior Vice President
and Assistant Treasurer (May 2003-June 2014)
of Prudential Annuities Advisory Services, Inc.
|
Director (since January 2018) of OceanFirst
Financial Corp. and OceanFirst Bank; formerly
Director (July 2015-January 2018) of Sun
Bancorp, Inc. N.A. and Sun National Bank.
|
Since December 2017
|
Interested Board Members
|
|||
Name
Year of Birth
Position(s)
Portfolios Overseen
|
Principal Occupation(s)
During Past Five Years
|
Other Directorships
Held During
Past Five Years
|
Length of
Board Service
|
Stuart S. Parker
1962
Board Member &
President
Portfolios Overseen: 101
|
President, Chief Executive Officer, Chief
Operating Officer and Officer in Charge of PGIM
Investments LLC (formerly known as Prudential
Investments LLC) (since January 2012);
President and Principal Executive Officer
("PEO") (since December 2023) of the PGIM
Credit Income Fund; President and PEO (since
September 2022) of the PGIM Private Credit
Fund, President and PEO (since March 2022) of
the PGIM Private Real Estate Fund, Inc.;
formerly Executive Vice President of Jennison
Associates LLC and Head of Retail Distribution
of PGIM Investments LLC (June 2005-December
2011); Investment Company Institute - Board of
Governors (since May 2012).
|
None.
|
Since December 2017
|
Interested Board Members
|
|||
Name
Year of Birth
Position(s)
Portfolios Overseen
|
Principal Occupation(s)
During Past Five Years
|
Other Directorships
Held During
Past Five Years
|
Length of
Board Service
|
Scott E. Benjamin
1973
Board Member & Vice
President
Portfolios Overseen: 101
|
Executive Vice President (since May 2009) of
PGIM Investments LLC; Vice President (since
June 2012) of Prudential Investment
Management Services LLC; Executive Vice
President (since September 2009) of AST
Investment Services, Inc.; Senior Vice President
of Product Development and Marketing, PGIM
Investments (since February 2006); Vice
President (since December 2023) of the PGIM
Credit Income Fund; Vice President (since
September 2022) of the PGIM Private Credit
Fund, Vice President (since March 2022) of the
PGIM Private Real Estate Fund, Inc.; formerly
Vice President of Product Development and
Product Management, PGIM Investments LLC
(2003-2006).
|
None.
|
Since December 2017
|
Fund Officers (a)
|
||
Name
Year of Birth
Fund Position
|
Principal Occupation(s) During Past Five Years
|
Length of
Service as Fund Officer
|
Claudia DiGiacomo
1974
Chief Legal Officer
|
Chief Legal Officer (since December 2023) of the PGIM Credit Income Fund; Chief Legal Officer (since
September 2022) of the PGIM Private Credit Fund; Chief Legal Officer (since July 2022) of the PGIM Private
Real Estate Fund, Inc.; Chief Legal Officer, Executive Vice President and Secretary of PGIM Investments LLC
(since August 2020); Chief Legal Officer of Prudential Mutual Fund Services LLC (since August 2020); Chief
Legal Officer of PIFM Holdco, LLC (since August 2020); Vice President and Corporate Counsel (since January
2005) of Prudential; and Corporate Counsel of AST Investment Services, Inc. (since August 2020); formerly Vice
President and Assistant Secretary of PGIM Investments LLC (2005-2020); formerly Associate at Sidley Austin
Brown & Wood LLP (1999-2004).
|
Since December 2017
|
Andrew Donohue
1972
Chief Compliance Officer
|
Chief Compliance Officer (since December 2023) of the PGIM Credit Income Fund; Chief Compliance Officer
(since May 2023) of the PGIM Funds, Target Funds, PGIM ETF Trust, PGIM Global High Yield Fund, Inc., PGIM
High Yield Bond Fund, Inc., PGIM Short Duration High Yield Opportunities Fund, Advanced Series Trust, The
Prudential Series Fund, Prudential's Gibraltar Fund, Inc., PGIM Private Credit Fund, PGIM Private Real Estate
Fund, Inc.; Vice President, Chief Compliance Officer of PGIM Investments LLC (since September 2022); Chief
Compliance Officer of AST Investment Services, Inc. (since October 2022); formerly various senior compliance
roles within Principal Global Investors, LLC., global asset management for Principal Financial (2011-2022),
most recently as Global Chief Compliance Officer (2016-2022).
|
Since May 2023
|
Andrew R. French
1962
Secretary
|
Vice President (since December 2018) of PGIM Investments LLC; formerly Vice President and Corporate Counsel
(2010-2018) of Prudential; Secretary (since December 2023) of the PGIM Credit Income Fund; Secretary (since
September 2022) of the PGIM Private Credit Fund, Secretary (since March 2022) of the PGIM Private Real
Estate Fund, Inc.; formerly Director and Corporate Counsel (2006-2010) of Prudential; Vice President and
Assistant Secretary (since January 2007) of PGIM Investments LLC; Vice President and Assistant Secretary
(since January 2007) of Prudential Mutual Fund Services LLC.
|
Since December 2017
|
Melissa Gonzalez
1980
Assistant Secretary
|
Vice President and Corporate Counsel (since September 2018) of Prudential; Vice President and Assistant
Secretary (since August 2020) of PGIM Investments LLC; Assistant Secretary (since December 2023) of the
PGIM Credit Income Fund; Assistant Secretary (since September 2022) of the PGIM Private Credit Fund,
Assistant Secretary (since March 2022) of the PGIM Private Real Estate Fund, Inc.; formerly Director and
Corporate Counsel (March 2014-September 2018) of Prudential.
|
Since March 2020
|
Patrick E. McGuinness
1986
Assistant Secretary
|
Vice President and Assistant Secretary (since August 2020) of PGIM Investments LLC; Director and Corporate
Counsel (since February 2017) of Prudential; Assistant Secretary (since December 2023) of the PGIM Credit
Income Fund; Assistant Secretary (since September 2022) of the PGIM Private Credit Fund, Assistant Secretary
(since March 2022) of the PGIM Private Real Estate Fund, Inc.
|
Since June 2020
|
Debra Rubano
1975
Assistant Secretary
|
Vice President and Corporate Counsel (since November 2020) of Prudential; Assistant Secretary (since
December 2023) of the PGIM Credit Income Fund; Assistant Secretary (since March 2022) of the PGIM Private
Real Estate Fund, Inc; Assistant Secretary (since September 2022) of the PGIM Private Credit Fund; formerly
Director and Senior Counsel of Allianz Global Investors U.S. Holdings LLC (2010-2020) and Assistant Secretary
of numerous funds in the Allianz fund complex (2015-2020).
|
Since December 2020
|
Fund Officers(a)
|
||
Name
Year of Birth
Fund Position
|
Principal Occupation(s) During Past Five Years
|
Length of
Service as Fund Officer
|
George Hoyt
1965
Assistant Secretary
|
Vice President and Corporate Counsel of Prudential (since September 2023); formerly Associate General
Counsel of Franklin Templeton and Secretary and Chief Legal Officer of certain funds in the Franklin Templeton
complex (2020- 2023) and Managing Director (2016-2020) and Associate General Counsel for Legg Mason,
Inc. and its predecessors (2004-2020).
|
Since December 2023
|
Devan Goolsby
1991
Assistant Secretary
|
Vice President and Corporate Counsel of Prudential (since May 2023); formerly Associate at Eversheds
Sutherland (US) LLP (2021-2023); Compliance Officer at Bloomberg LP (2019-2021); and an Examiner at the
Financial Industry Regulatory Authority (2015-2019).
|
Since December 2023
|
Christian J. Kelly
1975
Chief Financial Officer
|
Vice President, Global Head of Fund Administration of PGIM Investments LLC (since November 2018); Chief
Financial Officer (since March 2023) of PGIM Investments mutual funds, closed end funds and ETFs, Advanced
Series Trust Portfolios, Prudential Series Funds and Prudential Gibraltar Fund; Chief Financial Officer (since
December 2023) of the PGIM Credit Income Fund; Chief Financial Officer of PGIM Private Credit Fund (since
September 2022); Chief Financial Officer of PGIM Private Real Estate Fund, Inc. (since July 2022); formerly
Treasurer and Principal Financial Officer (January 2019- March 2023) of PGIM Investments mutual funds,
closed end funds and ETFs, Advanced Series Trust Portfolios, Prudential Series Funds and Prudential Gibraltar
Fund; formerly Treasurer and Principal Financial Officer (March 2022 - July 2022) of the PGIM Private Real
Estate Fund, Inc.; formerly Director of Fund Administration of Lord Abbett & Co. LLC (2009-2018), Treasurer
and Principal Accounting Officer of the Lord Abbett Family of Funds (2017-2018); Director of Accounting,
Avenue Capital Group (2008-2009); Senior Manager, Investment Management Practice of Deloitte & Touche
LLP (1998-2007).
|
Since January 2019
|
Lana Lomuti
1967
Assistant Treasurer
|
Vice President (since 2007) within PGIM Investments Fund Administration; formerly Assistant Treasurer
(December 2007-February 2014) of The Greater China Fund, Inc.; formerly Director (2005-2007) within PGIM
Investments Fund Administration.
|
Since December 2017
|
Russ Shupak
1973
Treasurer and Principal Accounting
Officer
|
Vice President (since 2017) within PGIM Investments Fund Administration; Treasurer and Principal Accounting
Officer of PGIM Investments mutual funds, closed end funds and ETFs (since March 2023); Treasurer and
Principal Accounting Officer (since December 2023) of the PGIM Credit Income Fund; Treasurer and Principal
Accounting Officer (since July 2022) of the PGIM Private Real Estate Fund, Inc.; Assistant Treasurer (since
September 2022) of the PGIM Private Credit Fund; formerly Assistant Treasurer (March 2022 - July 2022) of the
PGIM Private Real Estate Fund, Inc.; Assistant Treasurer of Advanced Series Trust Portfolios, Prudential Series
Funds and Prudential Gibraltar Fund (since October 2019); formerly Director (2013-2017) within PGIM
Investments Fund Administration.
|
Since October 2019
|
Deborah Conway
1969
Assistant Treasurer
|
Vice President (since 2017) within PGIM Investments Fund Administration; formerly Director (2007-2017)
within PGIM Investments Fund Administration.
|
Since October 2019
|
Elyse M. McLaughlin
1974
Assistant Treasurer
|
Vice President (since 2017) within PGIM Investments Fund Administration; Treasurer and Principal Accounting
Officer of the Advanced Series Trust, the Prudential Series Fund and the Prudential Gibraltar Fund (since
March 2023); Treasurer and Principal Accounting Officer (since September 2022) of the PGIM Private Credit
Fund; Assistant Treasurer (since December 2023) of the PGIM Credit Income Fund; Assistant Treasurer (since
March 2022) of the PGIM Private Real Estate Fund, Inc.; Assistant Treasurer of PGIM Investments mutual
funds, closed end funds and ETFs (since October 2019); formerly Director (2011-2017) within PGIM
Investments Fund Administration.
|
Since October 2019
|
Robert W. McCormack
1973
Assistant Treasurer
|
Vice President (since 2019) within PGIM Investments Fund Administration; Assistant Treasurer (Since March
2023) of PGIM Investments mutual funds, closed end funds, ETFs, Advanced Series Trust Portfolios, Prudential
Series Funds and Prudential Gibraltar Fund; Assistant Treasurer (since December 2023) of the PGIM Credit
Income Fund; Assistant Treasurer (since September 2022) of the PGIM Private Credit Fund; Assistant Treasurer
(since March 2022) of the PGIM Private Real Estate Fund, Inc.; formerly Director (2016-2019) within PGIM
Investments Fund Administration; formerly Vice President within Goldman, Sachs & Co. Investment
Management Controllers (2008- 2016), Assistant Treasurer of Goldman Sachs Family of Funds (2015-2016).
|
Since March 2023
|
Kelly Florio
1978
Anti-Money Laundering Compliance
Officer
|
Vice President, Corporate Compliance, Global Compliance Programs and Compliance Risk Management (since
December 2021) of Prudential; formerly, Head of Fraud Risk Management (October 2019 to December 2021) at
New York Life Insurance Company; formerly, Head of Key Risk Area Operations (November 2018 to October
2019), Director of the US Anti-Money Laundering Compliance Unit (2009-2018) and Bank Loss Prevention
Associate (2006 -2009) at MetLife.
|
Since June 2022
|
Name
|
Aggregate Fiscal Year
Compensation from the Funds
|
Pension or Retirement Benefits
Accrued as Part of Fund Expenses
|
Estimated Annual Benefits
Upon Retirement
|
Total Compensation from Fund
and Fund Complex for Most
Recent Calendar Year
|
Compensation Received by Independent Board Members
|
||||
Ellen S. Alberding***
|
$12,850
|
None
|
None
|
$334,000* (33/100)**
|
Kevin J. Bannon
|
$13,137
|
None
|
None
|
$314,000* (33/100)**
|
Linda W. Bynoe
|
$12,997
|
None
|
None
|
$334,000* (30/97)**
|
Barry Evans***
|
$14,563
|
None
|
None
|
$372,000* (32/99)**
|
Keith F. Hartstein
|
$15,740
|
None
|
None
|
$410,000* (33/100)**
|
Laurie Simon Hodrick***
|
$13,357
|
None
|
None
|
$314,000* (29/96)**
|
Brian Reid
|
$14,563
|
None
|
None
|
$372,000* (32/99)**
|
Grace C. Torres
|
$14,563
|
None
|
None
|
$372,000* (32/99)**
|
Board Committee Meetings (for most recently completed fiscal year)
|
|||
Audit Committee
|
Nominating & Governance Committee
|
Dryden & Gibraltar Investment
Committees
|
Compliance Committee
|
4
|
4
|
4
|
4
|
Name
|
Dollar Range of Equity
Securities in each Fund
|
Aggregate Dollar Range of
Equity Securities in All
Registered Investment
Companies Overseen by
Board Member in Fund Complex
|
Board Member Share Ownership: Independent Board Members
|
||
Ellen S. Alberding
|
None
|
Over $100,000
|
Kevin J. Bannon
|
None
|
Over $100,000
|
Linda W. Bynoe
|
None
|
Over $100,000
|
Barry H. Evans
|
None
|
Over $100,000
|
Keith F. Hartstein
|
None
|
Over $100,000
|
Laurie Simon Hodrick
|
None
|
Over $100,000
|
Brian K. Reid
|
None
|
Over $100,000
|
Grace C. Torres
|
None
|
Over $100,000
|
Board Member Share Ownership: Interested Board Members
|
||
Stuart S. Parker
|
None
|
Over $100,000
|
Scott E. Benjamin
|
None
|
Over $100,000
|
2023
|
2022
|
2021
|
|
Gross Fee
|
$5,927,270
|
$3,402,205
|
$1,980,422
|
Amount Waived/ Reimbursed by PGIM Investments*
|
-
|
None
|
None
|
Net Fee
|
$5,927,270
|
$3,402,205
|
$1,980,422
|
2023
|
2022
|
2021
|
|
Gross Fee
|
$483,137
|
$455,181
|
$308,831
|
Amount Waived/ Reimbursed by PGIM Investments*
|
-
|
None
|
None
|
Net Fee
|
$483,137
|
$455,181
|
$308,831
|
2023
|
2022
|
2021**
|
|
Gross Fee
|
$80,651
|
$72,741
|
$20,489
|
Amount Waived/ Reimbursed by PGIM Investments*
|
-
|
None
|
None
|
Net Fee
|
$80,651
|
$72,741
|
$20,489
|
2023
|
2022**
|
2021
|
|
Gross Fee
|
$430,757
|
$246,470
|
N/A
|
Amount Waived/ Reimbursed by PGIM Investments*
|
-
|
None
|
N/A
|
Net Fee
|
$430,757
|
$246,470
|
N/A
|
2023
|
2022*
|
2021
|
|
Gross Fee
|
$378,501
|
$55,323
|
N/A
|
Amount Waived/ Reimbursed by PGIM Investments
|
-
|
None
|
N/A
|
Net Fee
|
$378,501
|
$55,323
|
N/A
|
2023*
|
2022
|
2021
|
|
Gross Fee
|
$22,240
|
N/A
|
N/A
|
Amount Waived/ Reimbursed by PGIM Investments
|
-
|
N/A
|
N/A
|
Net Fee
|
$22,240
|
N/A
|
N/A
|
2023*
|
2022
|
2021
|
|
Gross Fee
|
$11,822
|
N/A
|
N/A
|
Amount Waived/ Reimbursed by PGIM Investments
|
-
|
N/A
|
N/A
|
Net Fee
|
$11,822
|
N/A
|
N/A
|
Subadvisory Fees Paid by PGIM Investments*
|
|||
2023
|
2022
|
2021
|
|
PGIM Fixed Income/PGIM Limited
|
$2,963,152
|
$1,700,828
|
$990,211
|
Subadvisory Fees Paid by PGIM Investments*
|
|||
2023
|
2022
|
2021
|
|
PGIM Fixed Income
|
$241,570
|
$227,111
|
$154,415
|
Subadvisory Fees Paid by PGIM Investments*
|
|||
2023
|
2022
|
2021**
|
|
PGIM Fixed Income
|
$40,320
|
$36,372
|
$10,245
|
Subadvisory Fees Paid by PGIM Investments*
|
|||
2023
|
2022**
|
2021
|
|
PGIM Fixed Income/PGIM Limited
|
$215,397
|
$123,245
|
N/A
|
Subadvisory Fees Paid by PGIM Investments
|
|||
2023
|
2022*
|
2021
|
|
PGIM Fixed Income/PGIM Limited
|
$189,217
|
$27,663
|
N/A
|
Subadvisory Fees Paid by PGIM Investments
|
|||
2023*
|
2022
|
2021
|
|
PGIM Fixed Income/PGIM Limited
|
$11,120
|
N/A
|
N/A
|
Subadvisory Fees Paid by PGIM Investments
|
|||
2023*
|
2022
|
2021
|
|
PGIM Fixed Income/PGIM Limited
|
$5,911
|
N/A
|
N/A
|
PGIM Ultra Short Bond ETF
|
||||
Subadviser
|
Portfolio Managers
|
Registered Investment
Companies/Total Assets
|
Other Pooled
Investment Vehicles/
Total Assets
|
Other Accounts/
Total Assets
|
PGIM Fixed Income/PGIM Limited*
|
Joseph D'Angelo
|
9/$36,592,507,905
|
2/$250,445,069
|
35/$10,381,095,452
|
Jeffrey M. Venezia, MBA
|
9/$36,592,507,905
|
2/$250,445,069
|
35/$10,381,095,452
|
|
Robert Browne
|
9/$36,592,507,905
|
2/$250,445,069
|
35/$10,381,095,452
|
PGIM Active High Yield Bond ETF
|
||||
Subadviser
|
Portfolio Managers
|
Registered Investment
Companies/Total Assets
|
Other Pooled
Investment Vehicles/
Total Assets
|
Other Accounts/
Total Assets
|
PGIM Fixed Income*
|
Robert Cignarella, CFA
|
12/$27,911,003,163
|
8/$6,409,910,098
8/$1,331,947,303
|
39/$13,716,496,925
4/$1,018,137,222
|
Robert Spano, CFA, CPA
|
11/$25,813,122,467
|
8/$6,409,910,098
5/$1,331,947,303
|
39/$13,716,496,925
4/$1,018,137,222
|
|
Ryan Kelly, CFA
|
11/$25,813,122,467
|
8/$6,409,910,098
5/$1,331,947,303
|
39/$13,716,496,925
4/$1,018,137,222
|
|
Brian Clapp, CFA
|
11/$25,813,122,467
|
8/$6,409,910,098
5/$1,331,947,303
|
39/$13,716,496,925
4/$1,018,137,222
|
|
Michael Gormally
|
11/$25,813,122,467
|
8/$6,409,910,098
5/$1,331,947,303
|
39/$13,716,496,925
4/$1,018,137,222
|
|
Brian Lalli
|
11/$25,813,122,467
|
8/$6,409,910,098
5/$1,331,947,303
|
39/$13,716,496,925
4/$1,018,137,222
|
PGIM Active Aggregate Bond ETF
|
||||
Subadviser
|
Portfolio Managers
|
Registered Investment
Companies/Total Assets
|
Other Pooled
Investment Vehicles/
Total Assets
|
Other Accounts/
Total Assets
|
PGIM Fixed Income*
|
Richard Piccirillo
|
41/$87,377,108,743
|
17/$25,691,417,195
1/$59,779,608
|
103/$53,166,183,875
3/$476,847,821
|
Stewart Wong, CLU,ChFC
|
38/$14,133,326,241
|
22/$14,915,039,147
3/$1,190,621,237
|
142/$13,644,917,408
9/$516,330,438
|
|
Tom McCartan
|
2/$2,611,010,270
|
4/$10,285,180,070
1/59,779,608
|
35/$20,004,299,380
|
PGIM Total Return Bond ETF
|
||||
Subadviser
|
Portfolio Managers
|
Registered Investment
Companies/Total Assets
|
Other Pooled
Investment Vehicles/
Total Assets
|
Other Accounts/
Total Assets
|
PGIM Fixed Income/PGIM Limited*
|
Robert Tipp, CFA
|
46/$81,852,067,800
|
21/$26,229,488,853
|
104/$50,733,222,234
8/$2,773,105,536
|
Richard Piccirillo
|
41/$87,317,154,210
|
17/$25,691,417,195
1/$59,779,608
|
103/$53,166,183,875
3/$476,847,821
|
PGIM Total Return Bond ETF
|
||||
Subadviser
|
Portfolio Managers
|
Registered Investment
Companies/Total Assets
|
Other Pooled
Investment Vehicles/
Total Assets
|
Other Accounts/
Total Assets
|
Gregory Peters
|
53/$94,841,050,324
|
26/$36,835,907,073
1/$59,779,608
|
139/$68,572,727,592
8/$2,773,105,536
|
|
Matthew Angelucci, CFA
|
54/$93,575,623,261
|
27/$28,024,599,647
5/$1,821,169,285
|
148/$74,841,987,892
11/$7,486,872,094
|
|
Tyler Thorn
|
41/$87,317,154,210
|
17/$25,691,417,195
1/$59,779,608
|
103/$53,166,183,875
3/$476,847,821
|
PGIM Floating Rate Income ETF
|
||||
Subadviser
|
Portfolio Managers
|
Registered Investment
Companies/Total Assets
|
Other Pooled
Investment Vehicles/
Total Assets
|
Other Accounts/
Total Assets
|
PGIM Fixed Income/PGIM Limited*
|
Brian Juliano
|
29/$16,653,250,028
|
69/$29,366,901,424
1/$205,082,670
|
115/$19,922,794,023
4/$300,124,828
|
Robert Cignarella, CFA
|
13/$28,024,821,071
|
8/$6,409,910,098
5/$1,331,947,303
|
39/$13,716,496,925
4/$1,018,137,222
|
|
Parag Pandya, CFA
|
28/$16,613,259,655
|
69/$29,366,901,424
1/$205,082,670
|
115/$19,922,794,023
4/$300,124,828
|
|
Ian F. Johnston
|
28/$16,613,259,655
|
69/$29,366,901,424
1/$205,082,670
|
115/$19,922,794,023
4/$300,124,828
|
|
Robert W. Meyer, CFA
|
28/$16,613,259,655
|
69/$29,366,901,424
1/$205,082,670
|
115/$19,922,794,023
4/$300,124,828
|
PGIM AAA CLO ETF
|
||||
Subadviser
|
Portfolio Managers
|
Registered Investment
Companies/Total Assets
|
Other Pooled
Investment Vehicles/
Total Assets
|
Other Accounts/
Total Assets
|
PGIM Fixed Income/PGIM Limited*
|
Edwin Wilches, CFA
|
32/$25,976,444,474
|
21/$10,423,760,088
|
145/$29,095,284,122
8/$554,222,557
|
Gabe Rivera
|
30 $25,367,114,255
|
21/$10,151,245,178
|
139/$28,877,176,791
8/$554,222,557
|
|
Connor Byrnes
|
32/$14,567,949,831
|
21/$4,900,499,568
|
145/$20,608,750,598
8/$206,933,217
|
PGIM Short Duration Multi-Sector Bond ETF
|
||||
Subadviser
|
Portfolio Managers
|
Registered Investment
Companies/Total Assets
|
Other Pooled
Investment Vehicles/
Total Assets
|
Other Accounts/
Total Assets
|
PGIM Fixed Income/PGIM Limited*
|
Richard Piccirillo
|
41/$87,395,302,735
|
17/$25,691,417,195
1/$59,779,608
|
103/$53,166,183,875
3/$476,847,821
|
Robert Tipp, CFA
|
46/$81,930,216,325
|
21/$26,229,488,853
|
104/$50,733,222,234
8/$2,773,105,536
|
|
Gregory Peters
|
53/$94,919,198,849
|
26/$36,835,907,073
1/$59,779,608
|
139/$68,572,727,592
8/$2,773,105,536
|
|
Matthew Angelucci, CFA
|
54/$93,653,771,786
|
27/$28,024,599,647
5/$1,821,169,285
|
148/$74,841,987,892
11/$7,486,872,094
|
PGIM Short Duration Multi-Sector Bond ETF
|
||||
Subadviser
|
Portfolio Managers
|
Registered Investment
Companies/Total Assets
|
Other Pooled
Investment Vehicles/
Total Assets
|
Other Accounts/
Total Assets
|
Tyler Thorn
|
41/$87,395,302,735
|
17/$25,691,417,195
1/$59,779,608
|
103/$53,166,183,875
3/$476,847,821
|
PGIM Short Duration High Yield ETF
|
||||
Subadviser
|
Portfolio Managers
|
Registered Investment
Companies/Total Assets**
|
Other Pooled
Investment Vehicles/
Total Assets**
|
Other Accounts/
Total Assets**
|
PGIM Fixed Income/PGIM Limited*
|
Robert Cignarella, CFA
|
13/$27,449,239,484
|
8/$6,244,801,697
5/$1,270,176,784
|
39/$13,253,978,592
4/$961,765,582
|
Robert Spano, CFA, CPA
|
12/$25,345,624,472
|
8/$6,244,801,697
5/$1,270,176,784
|
39/$13,253,978,592
4/$961,765,582
|
|
Brian Clapp, CFA
|
12/$25,345,624,472
|
8/$6,244,801,697
5/$1,270,176,784
|
39/$13,253,978,592
4/$961,765,582
|
|
Brian Lalli
|
12/$25,345,624,472
|
8/$6,244,801,697
5/$1,270,176,784
|
39/$13,253,978,592
4/$961,765,582
|
|
Michael Gormally
|
12/$25,345,624,472
|
8/$6,244,801,697
5/$1,270,176,784
|
39/$13,253,978,592
4/$961,765,582
|
Personal Investments and Financial Interests of the Portfolio Managers
|
|||
Fund
|
Subadviser
|
Portfolio Managers
|
Investments and Other Financial Interests in the Fund and Similar
Strategies*
|
PGIM Ultra Short Bond ETF
|
PGIM Fixed Income/PGIM Limited
|
Joseph D'Angelo
|
$500,001-$1,000,000
|
Jeffrey M. Venezia, MBA
|
$100,001-$500,000
|
||
Robert Browne
|
$50,001-$100,000
|
||
PGIM Active High Yield Bond ETF
|
PGIM Fixed Income
|
Robert Cignarella, CFA
|
Over $1,000,000
|
Robert Spano, CFA, CPA
|
$100,001-$500,000
|
||
Ryan Kelly, CFA
|
$50,001-$100,000
|
||
Brian Clapp, CFA
|
$100,001-$500,000
|
||
Michael Gormally
|
$10,001-$50,000
|
||
Brian Lalli
|
$50,001-$100,000
|
||
PGIM Active Aggregate Bond ETF
|
PGIM Fixed Income
|
Richard Piccirillo
|
None
|
Stewart Wong, CLU, ChFC
|
$10,001-$50,000
|
||
Tom McCartan
|
None
|
||
PGIM Total Return Bond ETF
|
PGIM Fixed Income/PGIM Limited
|
Robert Tipp, CFA
|
None
|
Richard Piccirillo
|
Over $1,000,000
|
||
Gregory Peters
|
Over $1,000,000
|
||
Matthew Angelucci, CFA
|
None
|
Personal Investments and Financial Interests of the Portfolio Managers
|
|||
Fund
|
Subadviser
|
Portfolio Managers
|
Investments and Other Financial Interests in the Fund and Similar
Strategies*
|
Tyler Thorn
|
None
|
||
PGIM Floating Rate Income ETF
|
PGIM Fixed Income/PGIM Limited
|
Brian Juliano
|
None
|
Robert Cignarella, CFA
|
None
|
||
Parag Pandya, CFA
|
None
|
||
Ian F. Johnston
|
None
|
||
Robert W. Meyer, CFA
|
None
|
||
PGIM AAA CLO ETF
|
PGIM Fixed Income/PGIM Limited
|
Edwin Wilches, CFA
|
None
|
Gabe Rivera
|
None
|
||
Connor Byrnes
|
None
|
||
PGIM Short Duration Multi-Sector Bond ETF
|
PGIM Fixed Income/PGIM Limited
|
Richard Piccirillo
|
Over $1,000,000
|
Robert Tipp, CFA
|
None
|
||
Gregory Peters
|
Over $1,000,000
|
||
Matthew Angelucci, CFA
|
None
|
||
Tyler Thorn
|
None
|
||
PGIM Short Duration High Yield ETF**
|
PGIM Fixed Income/PGIM Limited
|
Robert Cignarella, CFA
|
Over $1,000,000
|
Robert Spano, CFA, CPA
|
$100,001-$500,000
|
||
Brian Clapp, CFA
|
$100,001-$500,000
|
||
Brian Lalli
|
$50,001-$100,000
|
||
Michael Gormally
|
$10,001-$50,000
|
Securities Lending Activities
|
|||||||
PGIM AAA
CLO ETF
|
PGIM Short
Duration
Multi-Sector
Bond ETF
|
PGIM Ultra
Short Bond ETF
|
PGIM Active
High Yield Bond ETF
|
PGIM Active
Aggregate Bond ETF
|
PGIM Total
Return Bond ETF
|
PGIM Floating
Rate Income ETF
|
|
Gross Income from securities lending
activities
|
$-
|
$-
|
$1,076,552
|
$4,553
|
$-
|
$831
|
$-
|
Fees and/or compensation for
securities lending activities and
related services
|
|||||||
Fees paid to securities lending
agent from a revenue split
|
$-
|
$-
|
$(7,881)
|
$(371)
|
$-
|
$(7)
|
$-
|
Fees paid for any cash
collateral management
service
(including fees deducted
from a pooled cash collateral
investment vehicle)
|
$-
|
$-
|
$(16,883)
|
$(74)
|
$-
|
$(13)
|
$-
|
Administrative fees not
included in revenue split
|
$-
|
$-
|
$-
|
$-
|
$-
|
$-
|
$-
|
Indemnification fee not
included in revenue split
|
$-
|
$-
|
$-
|
$-
|
$-
|
$-
|
$-
|
Rebate (paid to borrower)
|
$-
|
$-
|
$(980,958)
|
$(819)
|
$-
|
$(748)
|
$-
|
Other fees not included in
revenue split (specify)
|
$-
|
$-
|
$-
|
$-
|
$-
|
$-
|
$-
|
Aggregate fees/compensation for
securities lending activities
|
$-
|
$-
|
$(1,005,722)
|
$(1,264)
|
$-
|
$(768)
|
$-
|
Net Income from securities lending
activities
|
$-
|
$-
|
$70,830
|
$3,289
|
$-
|
$63
|
$-
|
Payments Received by Distributor: PGIM Ultra Short Bond ETF
|
|
DISTRIBUTION AND SERVICE (12b-1) FEES
|
N/A
|
Payments Received by Distributor: PGIM Active High Yield Bond ETF
|
|
DISTRIBUTION AND SERVICE (12b-1) FEES
|
N/A
|
Payments Received by Distributor: PGIM Active Aggregate Bond ETF
|
|
DISTRIBUTION AND SERVICE (12b-1) FEES
|
N/A
|
Payments Received by Distributor: PGIM Total Return Bond ETF
|
|
DISTRIBUTION AND SERVICE (12b-1) FEES
|
N/A
|
Payments Received by Distributor: PGIM Floating Rate Income ETF
|
|
DISTRIBUTION AND SERVICE (12b-1) FEES
|
N/A
|
Payments Received by Distributor: PGIM AAA CLO ETF
|
|
DISTRIBUTION AND SERVICE (12b-1) FEES
|
N/A
|
Payments Received by Distributor: PGIM Short Duration Multi-Sector Bond ETF
|
|
DISTRIBUTION AND SERVICE (12b-1) FEES
|
N/A
|
Amounts Spent by Distributor: PGIM AAA CLO ETF
|
||||
Share Class
|
Printing & Mailing
Prospectuses to Other than
Current Shareholders
|
Compensation to Broker/Dealers for
Commissions to Representatives and
Other Expenses*
|
Overhead Costs**
|
Total Amount
Spent by Distributor
|
Fund
|
$-
|
$-
|
$-
|
$-
|
Amounts Spent by Distributor: PGIM Short Duration Multi-Sector Bond ETF
|
||||
Share Class
|
Printing & Mailing
Prospectuses to Other than
Current Shareholders
|
Compensation to Broker/Dealers for
Commissions to Representatives and
Other Expenses*
|
Overhead Costs**
|
Total Amount
Spent by Distributor
|
Fund
|
$-
|
$-
|
$-
|
$-
|
Amounts Spent by Distributor: PGIM Ultra Short Bond ETF
|
||||
Share Class
|
Printing & Mailing
Prospectuses to Other than
Current Shareholders
|
Compensation to Broker/Dealers for
Commissions to Representatives and
Other Expenses*
|
Overhead Costs**
|
Total Amount
Spent by Distributor
|
Fund
|
$-
|
$-
|
$-
|
$-
|
Amounts Spent by Distributor: PGIM Active High Yield Bond ETF
|
||||
Share Class
|
Printing & Mailing
Prospectuses to Other than
Current Shareholders
|
Compensation to Broker/Dealers for
Commissions to Representatives and
Other Expenses*
|
Overhead Costs**
|
Total Amount
Spent by Distributor
|
Fund
|
$-
|
$-
|
$-
|
$-
|
Amounts Spent by Distributor: PGIM Active Aggregate Bond ETF
|
||||
Share Class
|
Printing & Mailing
Prospectuses to Other than
Current Shareholders
|
Compensation to Broker/Dealers for
Commissions to Representatives and
Other Expenses*
|
Overhead Costs**
|
Total Amount
Spent by Distributor
|
Fund
|
$-
|
$-
|
$-
|
$-
|
Amounts Spent by Distributor: PGIM Total Return Bond ETF
|
||||
Share Class
|
Printing & Mailing
Prospectuses to Other than
Current Shareholders
|
Compensation to Broker/Dealers for
Commissions to Representatives and
Other Expenses*
|
Overhead Costs**
|
Total Amount
Spent by Distributor
|
Fund
|
$-
|
$-
|
$-
|
$-
|
Amounts Spent by Distributor: PGIM Floating Rate Income ETF
|
||||
Share Class
|
Printing & Mailing
Prospectuses to Other than
Current Shareholders
|
Compensation to Broker/Dealers for
Commissions to Representatives and
Other Expenses*
|
Overhead Costs**
|
Total Amount
Spent by Distributor
|
Fund
|
$-
|
$-
|
$-
|
$-
|
Brokerage Commissions Paid by the Funds
|
|||
2023
|
2022
|
2021
|
|
PGIM AAA CLO ETF*
|
|||
Total brokerage commissions paid by the Fund
|
-
|
N/A
|
N/A
|
Total brokerage commissions paid to affiliated brokers
|
None
|
N/A
|
N/A
|
Percentage of total brokerage commissions paid to affiliated brokers
|
None
|
N/A
|
N/A
|
Percentage of the aggregate dollar amount of portfolio transactions involving the payment of commissions to affiliated brokers
|
None
|
N/A
|
N/A
|
PGIM Short Duration Multi-Sector Bond ETF*
|
|||
Total brokerage commissions paid by the Fund
|
$479
|
N/A
|
N/A
|
Total brokerage commissions paid to affiliated brokers
|
None
|
N/A
|
N/A
|
Percentage of total brokerage commissions paid to affiliated brokers
|
None
|
N/A
|
N/A
|
Percentage of the aggregate dollar amount of portfolio transactions involving the payment of commissions to affiliated brokers
|
None
|
N/A
|
N/A
|
PGIM Ultra Short Bond ETF
|
|||
Total brokerage commissions paid by the Fund
|
$1,990
|
$195
|
None
|
Total brokerage commissions paid to affiliated brokers
|
None
|
None
|
None
|
Percentage of total brokerage commissions paid to affiliated brokers
|
None
|
None
|
None
|
Percentage of the aggregate dollar amount of portfolio transactions involving the payment of commissions to affiliated brokers
|
None
|
None
|
None
|
PGIM Active High Yield Bond ETF
|
|||
Total brokerage commissions paid by the Fund
|
$1,581
|
$1,404
|
$23
|
Total brokerage commissions paid to affiliated brokers
|
None
|
None
|
None
|
Percentage of total brokerage commissions paid to affiliated brokers
|
None
|
N/A
|
None
|
Percentage of the aggregate dollar amount of portfolio transactions involving the payment of commissions to affiliated brokers
|
None
|
N/A
|
None
|
PGIM Active Aggregate Bond ETF**
|
|||
Total brokerage commissions paid by the Fund
|
$1,428
|
$1,212
|
None
|
Total brokerage commissions paid to affiliated brokers
|
None
|
None
|
None
|
Percentage of total brokerage commissions paid to affiliated brokers
|
None
|
None
|
None
|
Percentage of the aggregate dollar amount of portfolio transactions involving the payment of commissions to affiliated brokers
|
None
|
None
|
None
|
PGIM Total Return Bond ETF***
|
|||
Total brokerage commissions paid by the Fund
|
$3,669
|
$2,350
|
N/A
|
Total brokerage commissions paid to affiliated brokers
|
None
|
None
|
N/A
|
Percentage of total brokerage commissions paid to affiliated brokers
|
None
|
None
|
N/A
|
Percentage of the aggregate dollar amount of portfolio transactions involving the payment of commissions to affiliated brokers
|
None
|
None
|
N/A
|
PGIM Floating Rate Income ETF****
|
|||
Total brokerage commissions paid by the Fund
|
$450
|
-
|
N/A
|
Total brokerage commissions paid to affiliated brokers
|
None
|
None
|
N/A
|
Percentage of total brokerage commissions paid to affiliated brokers
|
None
|
None
|
N/A
|
Percentage of the aggregate dollar amount of portfolio transactions involving the payment of commissions to affiliated brokers
|
None
|
None
|
N/A
|
Broker-Dealer Securities Holdings
|
|||
Fund Name
|
Broker-Dealer
|
Equity or Debt
|
Amount
|
PGIM AAA CLO ETF
|
None
|
None
|
None
|
PGIM Short Duration Multi-Sector Bond ETF
|
Barclays Capital, Inc.
|
Debt
|
$198,050
|
BOFA Securities, Inc.
|
Debt
|
$310,066
|
|
Citigroup Global Markets, Inc.
|
Debt
|
$186,402
|
|
Goldman Sachs & Co. LLC
|
Debt
|
$761,851
|
|
JPMorgan Chase & Co.
|
Debt
|
$497,144
|
|
Morgan Stanley & Co. LLC
|
Debt
|
$821,743
|
|
UBS Securities LLC
|
Debt
|
$250,572
|
|
PGIM Ultra Short Bond ETF
|
Citigroup Global Markets, Inc.
|
Debt
|
$89,482,170
|
Goldman Sachs & Co. LLC
|
Debt
|
$94,161,962
|
|
JPMorgan Chase & Co.
|
Debt
|
$178,374,738
|
|
RBC Capital Markets LLC
|
Debt
|
$28,794,828
|
|
Wells Fargo Securities LLC
|
Debt
|
$65,141,014
|
|
PGIM Active High Yield Bond ETF
|
Citigroup Global Markets, Inc.
|
Debt
|
$72,270
|
PGIM Active Aggregate Bond ETF
|
Barclays Capital, Inc.
|
Debt
|
$198,050
|
BOFA Securities, Inc.
|
Debt
|
$795,990
|
|
Citigroup Global Markets, Inc.
|
Debt
|
$393,969
|
|
Deutsche Bank Securities, Inc.
|
Debt
|
$60,835
|
|
Goldman Sachs & Co. LLC
|
Debt
|
$510,515
|
|
JPMorgan Chase & Co.
|
Debt
|
$799,635
|
|
Morgan Stanley & Co. LLC
|
Debt
|
$788,147
|
|
Wells Fargo Securities LLC
|
Debt
|
$2,162,135
|
|
PGIM Total Return Bond ETF
|
Barclays Capital, Inc.
|
Debt
|
$646,275
|
BOFA Securities, Inc.
|
Debt
|
$1,147,521
|
|
Citigroup Global Markets, Inc.
|
Debt
|
$1,449,708
|
|
Deutsche Bank Securities, Inc.
|
Debt
|
$271,642
|
|
Goldman Sachs & Co. LLC
|
Debt
|
$1,145,611
|
|
JPMorgan Chase & Co.
|
Debt
|
$1,868,304
|
|
Morgan Stanley & Co. LLC
|
Debt
|
$2,610,082
|
|
Wells Fargo Securities LLC
|
Debt
|
$789,717
|
|
PGIM Floating Rate Income ETF
|
BOFA Securities, Inc.
|
Debt
|
$407,880
|
Citigroup Global Markets, Inc.
|
Debt
|
$1,463,655
|
|
Goldman Sachs & Co. LLC
|
Debt
|
$872,551
|
|
JPMorgan Chase & Co.
|
Debt
|
$2,299,008
|
|
Wells Fargo Securities LLC
|
Debt
|
$509,506
|
Portfolio Turnover Rate
|
||
Fund Name
|
2023
|
2022
|
PGIM AAA CLO ETF*
|
4%
|
N/A
|
PGIM Short Duration Multi-Sector Bond ETF*
|
78%
|
N/A
|
PGIM Ultra Short Bond ETF
|
25%
|
9%
|
Portfolio Turnover Rate
|
||
Fund Name
|
2023
|
2022
|
PGIM Active High Yield Bond ETF
|
35%
|
31%
|
PGIM Active Aggregate Bond ETF
|
142%
|
409%
|
PGIM Total Return Bond ETF**
|
194%
|
150%
|
PGIM Floating Rate Income ETF***
|
182%
|
9%
|
Current Series of the Trust
|
||
Name
|
Date Established
|
Date Operations Commenced
|
PGIM Ultra Short Bond ETF
|
December 7, 2017
|
April 5, 2018
|
PGIM Active High Yield Bond ETF
|
June 20, 2018
|
September 24, 2018
|
PGIM Active Aggregate Bond ETF
|
January 26, 2021
|
April 12, 2021
|
PGIM Total Return Bond ETF
|
September 16, 2021
|
December 2, 2021
|
PGIM Floating Rate Income ETF
|
December 9, 2021
|
May 17, 2022
|
PGIM Portfolio Ballast ETF
|
September 27, 2022
|
December 12, 2022
|
PGIM Jennison Focused Growth ETF
|
September 27, 2022
|
December 12, 2022
|
PGIM Jennison Focused Value ETF
|
September 27, 2022
|
December 12, 2022
|
PGIM AAA CLO ETF
|
May 5, 2023
|
July 19, 2023
|
PGIM Short Duration Multi-Sector Bond ETF
|
May 5, 2023
|
July 19, 2023
|
PGIM Jennison Focused Mid-Cap ETF
|
September 27, 2023
|
December 14, 2023
|
PGIM Jennison International Opportunities ETF
|
September 27, 2023
|
December 14, 2023
|
PGIM Jennison Better Future ETF
|
September 27, 2023
|
December 14, 2023
|
PGIM Short Duration High Yield ETF
|
September 27, 2023
|
December 14, 2023
|
PGIM Municipal Income Opportunities ETF
|
March 6, 2024
|
|
PGIM Ultra Short Municipal Bond ETF
|
March 6, 2024
|
Fund Shareholders (as of October 6, 2023)
|
||
Fund Name
|
Shareholder Name and Address
|
% of Ownership
|
PGIM Active High Yield Bond ETF
|
Bank of New York Mellon
One Wall Street
New York, NY 10286
|
29.01%
|
Charles Schwab Trust Bank
2423 East Lincoln Drive
Phoenix AZ 85016
|
26.68%
|
|
JP Morgan Chase/ Jp Morgan International
4041 Ogletown RD, 1st Floor
Newark DE 19713
|
19.84%
|
|
National Financial Services LLC
499 Washington BLVD
Jersey City, NJ 07310
|
6.85%
|
Fund Shareholders (as of October 6, 2023)
|
||
Fund Name
|
Shareholder Name and Address
|
% of Ownership
|
PGIM Ultra Short Bond ETF
|
JPMS/JPMC
|
18.56%
|
National Financial Services LLC
499 Washington BLVD
Jersey City, NJ 07310
|
11.89%
|
|
Charles Schwab Trust Bank
2423 East Lincoln Drive
Phoenix AZ 85016
|
11.39%
|
|
Morgan Stanley Smith Barney LLC
1300 Thames St. 6th Floor
Baltimore MD 21231
|
10.45%
|
|
Merrill Lynch, Pierce, Fenner and Smith
4804 Deerlake Dr. E.
Jacksonville, FL 32246
|
9.51%
|
|
LPL LLC
4707 Executive Dr.
San Diego, CA 92121
|
5.45%
|
|
Ed Jones
201 Progress Parkway
Maryland Heights, MO 63043
|
5.05%
|
Fund Shareholders (as of October 6, 2023)
|
||
Fund Name
|
Shareholder Name and Address
|
% of Ownership
|
PGIM Active Aggregate Bond ETF
|
Bank of New York Mellon
One Wall Street
New York, NY 10286
|
48.60%
|
JP Morgan Chase/ Jp Morgan International
4041 Ogletown RD, 1st Floor
Newark DE 19713
|
45.58%
|
Fund Shareholders (as of October 6, 2023)
|
||
Fund Name
|
Shareholder Name and Address
|
% of Ownership
|
PGIM Total Return Bond ETF
|
Charles Schwab Trust Bank
2423 East Lincoln Drive
Phoenix AZ 85016
|
57.40%
|
JP Morgan Chase/ Jp Morgan International
4041 Ogletown RD, 1st Floor
Newark DE 19713
|
18.43%
|
|
Pershing LLC
One Pershing Plaza
Jersey City NJ 07399
|
8.07%
|
Fund Shareholders (as of October 6, 2023)
|
||
Fund Name
|
Shareholder Name and Address
|
% of Ownership
|
PGIM Floating Rate Income ETF
|
JP Morgan Chase/ Jp Morgan International
4041 Ogletown RD, 1st Floor
Newark DE 19713
|
36.49%
|
GOLDMAN
|
33.32%
|
|
Charles Schwab Trust Bank
2423 East Lincoln Drive
Phoenix AZ 85016
|
12.60%
|
Fund Shareholders (as of October 6, 2023)
|
||
Fund Name
|
Shareholder Name and Address
|
% of Ownership
|
PGIM AAA CLO ETF
|
Charles Schwab Trust Bank
2423 East Lincoln Drive
Phoenix AZ 85016
|
29.48%
|
Bank of New York Mellon
One Wall Street
New York, NY 10286
|
15.08%
|
|
BNP Prime Brokerage
787 Seventh Avenue
New York, NY 10019
|
9.52%
|
|
Morgan Stanley
522 Fifth Ave
New York, NY 10036
|
9.52%
|
|
Goldman
200 West Street
New York, NY 10001
|
7.31%
|
|
JPMS - JP Morgan Securities
383 Madison Ave
New York, NY 10179
|
6.49%
|
|
RBC, Royal Bank of Canada, WFC Branch
200 Vesey Street
STE 210
Rochester, NY 10281
|
6.38%
|
Fund Shareholders (as of October 6, 2023)
|
||
Fund Name
|
Shareholder Name and Address
|
% of Ownership
|
PGIM Short Duration Multi-Sector Bond ETF
|
Bank of New York Mellon
One Wall Street
New York, NY 10286
|
95.00%
|
Fund
|
Approximate Value
of a Creation Unit
|
Size of a
Creation Unit
|
Maximum Fixed
Transaction Fee
|
Maximum Additional
Charge for Creations*
|
Maximum Additional
Charge for
Redemptions*
|
PGIM Ultra Short Bond ETF
|
$1,250,000
|
25,000 shares
|
$600.00
|
3.00%
|
2.00%
|
PGIM Active High Yield Bond ETF
|
$1,000,000
|
25,000 shares
|
$2,000.00
|
3.00%
|
2.00%
|
PGIM Active Aggregate Bond ETF
|
$1,250,000
|
25,000 shares
|
$2,000.00
|
3.00%
|
2.00%
|
PGIM Total Return Bond ETF
|
$1,250,000
|
25,000 shares
|
$2,000.00
|
3.00%
|
2.00%
|
PGIM Floating Rate Income ETF
|
$1,250,000
|
25,000 shares
|
$2,000.00
|
3.00%
|
2.00%
|
PGIM AAA CLO ETF
|
$2,500,000
|
25,000 shares
|
$2,000.00
|
3.00%
|
2.00%
|
PGIM Short Duration Multi-Sector
Bond ETF
|
$1,250,000
|
25,000 shares
|
$2,000.00
|
3.00%
|
2.00%
|
PGIM Short Duration High Yield
ETF
|
$1,250,000
|
25,000 shares
|
$2,000.00
|
3.00%
|
2.00%
|
PGIM Municipal Income
Opportunities ETF
|
$2,500,000
|
25,000 shares
|
$500
|
3.00%
|
2.00%
|
PGIM Ultra Short Municipal Bond
ETF
|
$2,500,000
|
25,000 shares
|
$500
|
3.00%
|
2.00%
|
Fund
|
Capital Loss Carryforward
|
Capital Loss Carryforward Utilized
|
PGIM Ultra Short Bond ETF
|
$33,810,000
|
$-
|
PGIM Active High Yield Bond ETF
|
4,635,000
|
-
|
PGIM Active Aggregate Bond ETF
|
2,556,000
|
-
|
PGIM Total Return Bond ETF
|
9,295,000
|
-
|
PGIM Short Duration Multi-Sector Bond ETF
|
14,000
|
-
|
PGIM Floating Rate Income ETF
|
-
|
-
|
PGIM AAA CLO ETF
|
-
|
-
|
Fund
|
Qualified Late-Year Losses
|
Post-October Capital Losses
|
PGIM Floating Rate Income ETF
|
$-
|
$79,000
|