PGIM Short Duration High Yield Income Fund
Prudential Investment Portfolios, Inc. 15 · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
PGIM Short Duration High Yield Income Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- High yield
- Rate sensitivity
- Short duration
Fund profile
As filed in the prospectus · 2025 Q4
The investment objective of the Fund is to provide a high level of current income .
The fund invests in a diversified portfolio of high yield fixed income instruments rated below investment grade, with day-to-day management delegated to a subadviser that combines top-down economic analysis and bottom-up fundamental research to select securities. The subadviser targets a weighted average portfolio duration of three years or less and maturity of five years or less, and may allocate up to 20% of assets to U.S. currency-denominated securities from foreign issuers and up to 10% to non-U.S. currency-denominated securities. Because the fund's returns depend on the subadviser's security selection and credit assessments, performance will diverge from any benchmark based on those choices.
| Share class | Gross | Net |
|---|---|---|
| HYSAX | 1.04% | 1.00% |
| HYSCX | 1.80% | 1.75% |
| HYSZX | 0.81% | 0.75% |
| HYSQX | 0.72% | 0.70% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 61.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 86.44% |
| Loans | 8.88% |
| Cash & short-term | 7.33% |
| Securitized | 1.34% |
| 2 smaller | 1.31% |
Look-through blends 2 underlying funds; 0.0% of NAV was not looked through and stays direct-classified. The blend is as of 2025Q4, one or more quarters before the direct holdings (2026Q2).
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Other | 46.3% |
| International | 12.7% |
| Consumer Discretionary | 6.5% |
| Cash | 6.0% |
| 12 smaller | 28.5% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: (PIPA070) PGIM Core Government Money Market Fund, MERIDIAN ARC HOLDCO LLC, PR RNO PROPERTY OWNER 1 LLC, ARC Falcon I Inc, CENTENE CORP, QXO INC, APLD COMPUTECO LLC, HUDBAY MINERALS INC
Largest exited: (PIPA070) PGIM Core Government Money Market Fund, United States Treasury Notes ×3, HudBay Minerals Inc, Frontier Communications Holdings Llc, Calpine LLC, Ferrellgas Partners LP
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +6.90% | +24.30% | +24.35% | 2.34% | -1.96% | |
| +6.09% | +21.54% | +19.77% | 2.35% | -2.08% | |
| +7.17% | +25.27% | +25.91% | 2.39% | -1.91% | |
| +7.20% | +25.57% | +26.23% | 2.31% | -2.02% |
These classes hold the same portfolio, so the 6.46pp spread over 5 years is the cost difference between them — roughly 1.29pp a year — not a difference in what they own.
May 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-29
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 90.0% |
| Floating rate | 10.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 7.6% |
| 1-3y | 38.9% |
| 3-5y | 43.8% |
| 5-10y | 9.4% |
| 10y+ | 0.2% |
| Unknown | 0.2% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 54% |
| Credit spreads | 46% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +1.66 yr |
| Investment grade | +0.23 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.06 yr | 3% |
| 1 yr | 0.91 yr | 41% |
| 5 yr | 1.24 yr | 56% |
| 10 yr | 0.00 yr | 0% |
30 yr is NEGATIVE (-0.00 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.05 yr | 3% |
| 1 yr | 1.02 yr | 54% |
| 5 yr | 0.81 yr | 43% |
| 10 yr | 0.00 yr | 0% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.06 | +0.01 | +0.04 | $5.9k | $21.7k |
| 1 yr | +0.91 | +0.11 | +0.91 | $56.3k | $473.8k |
| 5 yr | +1.24 | +0.11 | +0.70 | $54.9k | $365.9k |
| 10 yr | +0.00 | +0.00 | +0.00 | $67 | $61 |
| 30 yr | -0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | PRUDENTIAL INVESTMENT PORTFOLIOS 9 | 4.71% | — | $245.13M | — |
| — | (PIPA070) PGIM Core Government Money Market Fund | 1.57% | — | $81.95M | — |
| — | DAVITA INC4.63% · due 2030-06-01 | 1.12% | — | $58.53M | — |
| — | VISTRA OPERATIONS COMPANY LLC5.00% · due 2027-07-31 | 1.12% | — | $58.08M | — |
| — | Radiate Holdco LLC8.77% floating · due 2029-09-25 | 1.10% | — | $57.26M | — |
| — | SBA COMMUNICATIONS CORP3.88% · due 2027-02-15 | 0.96% | — | $50.12M | — |
| — | TENET HEALTHCARE CORP4.38% · due 2030-01-15 | 0.95% | — | $49.55M | — |
| — | PGIM ETF Trust | 0.91% | $51.31 | $47.46M | 925.0K |
| — | ILIAD HOLDING SAS7.00% · due 2028-10-15 | 0.83% | — | $43.32M | — |
| — | DISH DBS CORP7.75% · due 2026-07-01 | 0.74% | — | $38.71M | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-29 — not a live quote, and not what the fund paid.
Top 10 positions are 14.03% of net assets, top 25 22.80%, across 381 issuers.
See more of this fund's book
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