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ETFs

PGIM Active High Yield Bond ETF

PHYL
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Sep 27 2018
Expense Ratio
0.53%
Type
US Bonds
Fund Owner
PGIM Investments
Volume (1m avg. daily)
$378,447
AUM
$107,621,584
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

n/a
US TREASURY N/ 4.125 7/28
4.28%
n/a
PRUDENTIAL CORE GOV MM FU
1.80%
n/a
Net Current Assets
1.25%
n/a
US TREASURY N/B 3 7/24
1.09%
n/a
MDPK 2019-33A AR 10/32
0.92%
DVA5026984
DAVITA INC 3.75 2/31
0.89%
THC5187521
TENET HEALTHCAR 4.25 6/29
0.83%
CCL5129977
CARNIVAL CORP 5.75 3/27
0.77%
n/a
CGMS 2015-5A A1RR 1/32
0.69%
n/a
BLUEM 2017-2A A1AR 10/30
0.65%
Invest with PHYL

What is PHYL?

The Fund seeks to achieve its investment objective by investing primarily in a portfolio of high yield bonds (commonly referred to as junk bonds) of companies or governments. Under normal market conditions, the Fund invests at least 80% of its investable assets in a diversified portfolio of high yield bonds that are below investment grade and other investments (including derivatives) with similar economic characteristics. The term below investment grade refers to instruments either rated Ba1 or lower by Moody s Investors Service (Moody s), BB+ or lower by S&P Global Ratings (S& P) or Fitch, Inc. (Fitch), or comparably rated by another nationally recognized statistical rating organization (NRSRO), or, if unrated, considered by the Subadviser to be of comparable quality. The term investable assets refers to the Funds net assets plus any borrowings for investment purposes. The Funds investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions. The Fund is an actively managed exchange traded fund (ETF) and, thus, does not seek to replicate the performance of a specified index.

ETFs related toPHYL

ETFs correlated to PHYL include UJB, HYLB, JNK

PHYL
PGIM ETF Trust - PGIM Active High Yield Bond ETF
UJB
ProShares Trust - ProShares Ultra High Yield 2x Shares
HYLB
DBX ETF Trust - Xtrackers USD High Yield Corporate Bond ETF
JNK
SPDR Series Trust - SPDR Bloomberg High Yield Bond ETF
HYG
BlackRock Institutional Trust Company N.A. - iShares iBoxx USD High Yield Corporate Bond ETF
HYDW
DBX ETF Trust - Xtrackers Low Beta High Yield Bond ETF
PHB
Invesco Capital Management LLC - Invesco Fundamental High Yield Corporate Bond ETF
USHY
BlackRock Institutional Trust Company N.A. - iShares Broad USD High Yield Corporate Bond ETF
HYBB
iShares Trust - iShares BB Rated Corporate Bond ETF
BBHY
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan BetaBuilders USD High Yield Corporate Bond ETF
HYGV
FlexShares Trust - FlexShares High Yield Value Scored Bond Index ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
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Create your own algorithmic trading strategy with PHYL using Composer

FAQ

PHYL is a US Bonds ETF. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of high yield bonds (commonly referred to as junk bonds) of companies or governments. Under normal market conditions, the Fund invests at least 80% of its investable assets in a diversified portfolio of high yield bonds that are below investment grade and other investments (including derivatives) with similar economic characteristics. The term below investment grade refers to instruments either rated Ba1 or lower by Moody s Investors Service (Moody s), BB+ or lower by S&P Global Ratings (S& P) or Fitch, Inc. (Fitch), or comparably rated by another nationally recognized statistical rating organization (NRSRO), or, if unrated, considered by the Subadviser to be of comparable quality. The term investable assets refers to the Funds net assets plus any borrowings for investment purposes. The Funds investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions. The Fund is an actively managed exchange traded fund (ETF) and, thus, does not seek to replicate the performance of a specified index.

Yes, PHYL is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, PHYL is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on PHYL is -0.0024%. This is the percent change in the value of PHYL over the most recent 1-month period. The 3-month return on PHYL is 0.0127%. This is the percent change in the value of PHYL over the most recent 3-month period.

The standard deviation of PHYL for the past year is 0.0736%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to PHYL include GVI, BLV, and BSV.

ETFs correlated to PHYL include UJB, HYLB, and JNK.

ETFs that are inversely correlated to PHYL include SJB, EFZ, and HIBS.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.