Fund Evaluator:
PGIM Conservative Retirement Spending R6 (PGFCX)
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Best Performing in Moderately Conservative Allocation Over the Last Year
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| 14.3% | Fidelity Advisor Strategic Real Ret Z (FIQDX) |
| 12.8% | Fairholme Focused Income (FOCIX) |
| 12.4% | Victory Growth and Tax Strategy (USBLX) |
Fund Details
PGIM Conservative Retirement Spending R6 Overview
PGIM Conservative Retirement Spending R6 (PGFCX) is an actively managed Allocation Moderately Conservative Allocation fund. PGIM launched the fund in 2024.
The investment seeks a balance between growth and conservation of capital. Under normal circumstances, the fund will invest approximately 60% (which may range from 50% to 70%) of its total assets in underlying funds that invest primarily in fixed income securities and invest the remainder of the fund’s total assets in underlying funds that invest primarily in equity securities and non-traditional asset classes.
About PGIM Conservative Retirement Spending R6 (PGFCX)
There are 3 members of the management team with an average tenure of 2.33 years: Joel Kallman (2024), Jeremy Stempien (2024), David Blanchett (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. PGIM Conservative Retirement Spending R6 has 12 securities in its portfolio. The top 10 holdings constitute 98.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
PGIM Conservative Retirement Spending R6 is part of the Allocation global asset class and is within the Allocation fund group. PGIM Conservative Retirement Spending R6 has 9.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 29.2%. There is 8.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 45.5% (43.8% domestic bond, 1.6% foreign bond and 0.0% convertible bond). PGIM Conservative Retirement Spending R6 has 3.0% of the portfolio in cash.
Assets Under Management
The fund has $5 million in total assets, which is below the $561 million average for the Moderately Conservative Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PGFCX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The PGIM Conservative Retirement Spending R6 expense ratio is below average compared to funds in the Moderately Conservative Allocation category. PGIM Conservative Retirement Spending R6 has an expense ratio of 0.35%, which is 65% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. PGIM Conservative Retirement Spending R6 has a portfolio turnover rate of 13%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 43% for the Moderately Conservative Allocation category.
Recently, in the month of July 2026, PGIM Conservative Retirement Spending R6 returned -0.3%, which earned it a grade of C, as the Moderately Conservative Allocation category had an average return of -0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
PGIM Conservative Retirement Spending R6 has a trailing yield of 3.60%, which is above the 3.29% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
PGIM Conservative Retirement Spending R6 Grades
Year to date, the fund has returned 5.6%, 0.9 percentage points better than the category, which translates into a grade of B. The fund has returned 10.1% over the past year (grade of C).
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PGFCX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PGFCX Return (NAV) | -0.3% | 0.5% | 10.1% | na | na | na |
| PGFCX Grade | C | F | C | na | na | na |
| +/- Category | 0.0% | -0.8% | -0.3% | na | na | na |
| Moderately Conservative Allocation Avg | -0.3% | 1.2% | 10.4% | 9.4% | 4.6% | 6.0% |
| PGFCX Tax Cost Ratio | na | na | 1.8% | na | na | na |
PGFCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PGFCX Return (NAV) | 5.6% | 9.9% | na | na | na | na | na | na | na | na | na |
| PGFCX Grade | B | F | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.9% | -1.6% | na | na | na | na | na | na | na | na | na |
| Moderately Conservative Allocation Avg | 4.8% | 11.5% | 8.3% | 10.0% | -11.8% | 10.0% | 8.1% | 15.6% | -4.3% | 9.8% | 8.5% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 3.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $5 Mil |
| Fund Total Assets: | $ 6 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 13% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 2.3 years | |||
| Average Tenure: 2.3 years | |||
| Managers (Year): Kallman Joel (2024), Stempien Jeremy (2024), Blanchett David (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 12 |
| % in Top 10 Holdings: | 98.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 9.7% |
Portfolio Allocation |
|
| Domestic Stock: | 29.2% |
| Foreign Stock: | 8.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 43.8% |
| Foreign Bond: | 1.6% |
| Convertible Bond: | 0.0% |
| Other: | 14.3% |
| Cash: | 3.0% |
Purchase Information
| Fund Family: | PGIM |
| Phone Number: | 800-225-1852 |
| Website: | www.prudentialfunds.com |
| Status: | Open |
| Inception Date: | April 3, 2024 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.35% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 1.01% |
| Share Class: | PGIM Conservative Retirement Spending R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
