PGIM Ultra Short Bond ETF
PGIM ETF Trust · Series S000061589 · 1 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2025 Q4
The investment objective of the Fund is to seek total return through a combination of current income and capital appreciation, consistent with preservation of capital.
The fund is actively managed by a subadviser using top-down economic analysis and bottom-up research to select investment-grade U.S. dollar-denominated short-term debt instruments, including government securities, corporate bonds, commercial paper, asset-backed securities, and municipal bonds. The subadviser develops internal ratings of issuers and applies proprietary quantitative models to construct a portfolio normally maintained at a weighted average duration of one year or less and maturity of three years or less, though these may extend based on market conditions. Because the fund's returns depend on the subadviser's security selection and credit assessments, including judgments on unrated securities, performance will diverge from any benchmark. The fund may use derivatives to manage duration and hedge losses.
| Share class | Expense ratio |
|---|---|
| PULS | 0.15% |
Portfolio turnover 39.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 64.39% |
| Securitized | 33.61% |
| Cash & short-term | 1.47% |
| Derivatives | -0.13% |
Look-through blends 1 underlying fund; 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).
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Latest quarter
What changed since the fund's previous filing
Largest new: Phillips 66, GLENCORE FUNDING LLC, Alexandria Real Estate Equities, Inc., Healthpeak Properties Inc, Servicenow Inc, CITIGROUP GLOBAL MARKETS HOLDINGS INC, Essential Utilities Inc, INTERCONTINENTAL EXCHANGE INC
Largest exited: (PIPA070) PGIM Core Government Money Market Fund, SUNCOR ENERGY INC, Alexandria Real Estate Equities, Inc., Essential Utilities Inc, CONSOLIDATED EDISON COMPANY OF NEW YORK INC, Intuit Inc, BENEFIT STREET PARTNERS CLO XXIII L, CBRE Services Inc
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
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 | 55.0% |
| Floating rate | 41.7% |
| Zero-coupon or unclassified | 3.3% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 21.2% |
| 1-3y | 36.2% |
| 3-5y | 1.4% |
| 5-10y | 19.3% |
| 10y+ | 22.0% |
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 | 67% |
| Interest rates | 33% |
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 | +1.42 yr |
| High yield | +0.01 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 | 0.07 yr | 11% |
| 1 yr | 0.41 yr | 59% |
| 5 yr | 0.17 yr | 24% |
| 10 yr | 0.04 yr | 6% |
| 30 yr | 0.01 yr | 1% |
| 3 mo | 0.07 yr | 5% |
| 1 yr | 0.72 yr | 51% |
| 5 yr | 0.59 yr | 42% |
| 10 yr | 0.04 yr | 3% |
| 30 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 | +0.07 | +0.07 | +0.00 | $107.9k | $0 |
| 1 yr | +0.41 | +0.72 | +0.00 | $1.17m | $3.3k |
| 5 yr | +0.17 | +0.59 | +0.01 | $957.2k | $8.2k |
| 10 yr | +0.04 | +0.04 | +0.00 | $66.9k | $0 |
| 30 yr | +0.01 | +0.00 | +0.00 | $2.4k | $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 |
|---|---|---|---|---|---|
| — | PGIM ETF Trust | 1.81% | $51.31 | $295.03M | 5.8M |
| — | Phillips 66 | 0.83% | — | $134.64M | — |
| — | GLENCORE FUNDING LLC0.00% · due 2026-06-17 | 0.74% | — | $120.75M | — |
| — | Alexandria Real Estate Equities, Inc.0.00% · due 2026-06-01 | 0.66% | — | $107.39M | — |
| — | INTESA SANPAOLO SPA NEW YORK BRANCH | 0.63% | — | $102.53M | — |
| — | ABN AMRO BANK NV4.72% · due 2027-01-22 | 0.57% | — | $93.26M | — |
| — | Healthpeak Properties Inc | 0.52% | — | $84.75M | — |
| — | BX TRUST 2022-LBA64.63% floating · due 2039-01-18 | 0.51% | — | $83.49M | — |
| — | FEDERATION DES CAISSES DESJARDINS DU QUEBEC4.26% floating · due 2027-01-27 | 0.51% | — | $83.17M | — |
| — | Servicenow Inc | 0.50% | — | $80.85M | — |
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 7.29% of net assets, top 25 13.45%, across 465 issuers.
See more of this fund's book
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