PGIM Short Duration Multi-Sector Bond Fund
Prudential Investment Portfolios, Inc. 17 · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
PGIM Short Duration Multi-Sector Bond 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
- Investment grade
- Rate sensitivity
- Short duration
Fund profile
As filed in the prospectus · 2025 Q4
The investment objective of the Fund is total return .
The fund invests at least 80% of its assets in fixed income instruments across multiple sectors including U.S. government securities, mortgage-backed and asset-backed securities, corporate debt, foreign debt, and loan participations. A subadviser manages the portfolio using top-down economic analysis and bottom-up research combined with proprietary quantitative models, targeting a weighted average duration of three years or less and maturity of five years or less. The fund may allocate up to 50% to high yield bonds, up to 40% to foreign debt securities, and up to 30% to loan participations. Because the fund's allocation across sectors and credit qualities is discretionary rather than rule-based, performance will depend on the subadviser's security selection and sector positioning decisions.
| Share class | Gross | Net |
|---|---|---|
| SDMAX | 0.63% | 0.62% |
| SDMCX | 1.45% | 1.44% |
| SDMQX | 0.34% | 0.32% |
| SDMZX | 0.45% | 0.39% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 104.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 64.83% |
| Securitized | 34.30% |
| Cash & short-term | 2.60% |
| Loans | 1.09% |
| 2 smaller | 0.35% |
Look-through blends 3 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Government | 34.3% |
| Securitized | 33.1% |
| Other | 10.5% |
| International | 6.0% |
| 12 smaller | 16.2% |
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: UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT ×4, (PIPA070) PGIM Core Government Money Market Fund, PRUDENTIAL INVESTMENT PORTFOLIOS 9, FEDERAL NATIONAL MORTGAGE ASSOCIATION, NASSAU EURO CLO IV DAC
Largest exited: PGIM AAA CLO ETF - Old IO fund, US TREASURY N/B, (PIPA070) PGIM Core Government Money Market Fund, PGIM Institutional Money Market Fund - D, Fannie Mae or Freddie Mac, Fannie Mae ×2, BOEING CO
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 |
|---|---|---|---|---|---|
| +4.77% | +18.32% | +14.42% | 1.64% | -0.75% | |
| +3.90% | +15.32% | +9.68% | 1.43% | -0.71% | |
| +5.09% | +19.24% | +16.06% | 1.40% | -0.61% | |
| +4.98% | +19.08% | +15.64% | 1.50% | -0.73% |
These classes hold the same portfolio, so the 6.37pp spread over 5 years is the cost difference between them — roughly 1.27pp a year — not a difference in what they own.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
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 | 70.6% |
| Floating rate | 29.0% |
| Zero-coupon or unclassified | 0.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 14.8% |
| 1-3y | 30.3% |
| 3-5y | 13.1% |
| 5-10y | 9.6% |
| 10y+ | 31.0% |
| Unknown | 1.1% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
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.
| Credit spreads | 50% |
| Interest rates | 50% |
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.
| Investment grade | +1.81 yr |
| High yield | +0.28 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 | 0.08 yr | 4% |
| 1 yr | 1.01 yr | 49% |
| 5 yr | 0.62 yr | 30% |
| 10 yr | 0.27 yr | 13% |
| 30 yr | 0.10 yr | 5% |
| 3 mo | 0.02 yr | 1% |
| 1 yr | 0.50 yr | 24% |
| 5 yr | 1.40 yr | 67% |
| 10 yr | 0.17 yr | 8% |
| 30 yr | 0.01 yr | 1% |
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 | +0.08 | +0.01 | +0.01 | $9.6k | $5.4k |
| 1 yr | +1.01 | +0.38 | +0.11 | $300.0k | $86.9k |
| 5 yr | +0.62 | +1.26 | +0.14 | $979.8k | $110.4k |
| 10 yr | +0.27 | +0.14 | +0.02 | $111.2k | $18.8k |
| 30 yr | +0.10 | +0.01 | +0.00 | $9.5k | $272 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 2.08 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.38% · due 2027-11-30 | 6.33% | $494.18M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT2.25% · due 2027-02-15 | 3.08% | $240.17M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.50% · due 2027-09-30 | 3.01% | $235.10M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT4.38% · due 2026-12-15 | 2.73% | $212.77M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT0.50% · due 2027-04-30 | 2.65% | $206.80M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT4.13% · due 2027-02-28 | 2.15% | $167.59M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.38% · due 2028-02-29 | 2.01% | $156.50M | — |
| — | (PIPA070) PGIM Core Government Money Market Fund | 1.79% | $140.03M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.63% · due 2027-08-31 | 1.77% | $138.25M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.38% · due 2027-12-31 | 1.75% | $136.34M | — |
Top 10 positions are 27.27% of net assets, top 25 38.38%, across 756 issuers.
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