FYI: PGIM Investments on Thursday rolled out the PGIM Active High Yield Bond ETF (PHYL), an actively managed product run by the same fixed-income team that oversees the $7.6 billion PGIM High Yield Fund, an open-end mutual fund.
One immediate advantage to owning the new ETF is its expense ratio of 0.53 percent is a healthy cost savings to the “A” and “C” share classes of the high-yield mutual fund, which come with loads and charge expense ratios of 0.81 percent and 1.50 percent, respectively. The mutual fund’s institutional “Z” share class charges 0.53 percent (and requires a $5 million investment minimum). The SEC yields for the various share classes are all north of 5 percent.
Regards,
Ted
https://www.fa-mag.com/news/pgim-launches-high-yield-bond-etf-41079.html?print
