Fund Evaluator:
PGIM Jennison Natural Resources Z (PNRZX)
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Best Performing in Natural Resources Over the Last Year
| 47.4% | GMO Resources I (GEACX) |
| 44.8% | US Global Investors Global Res (PSPFX) |
| 40.1% | PGIM Jennison Natural Resources Z (PNRZX) |
| 39.9% | ICON Natural Resources and Infras Inv (ICBAX) |
| 36.0% | Nomura Natural Resources Y (IGNYX) |
Fund Details
PGIM Jennison Natural Resources Z Overview
PGIM Jennison Natural Resources Z (PNRZX) is an actively managed Sector Equity Natural Resources fund. PGIM launched the fund in 1996.
The investment seeks long-term growth of capital. The fund normally invests at least 80% of investable assets in equity and equity-related securities of natural resource companies and in asset-based securities. Natural resource companies are U.S. and foreign (non-U.S. based) companies that own, explore, mine, process or otherwise develop, or provide goods and services with respect to, natural resources. Asset-based securities are securities, the values of which are related to the market value of a natural resource. The principal type of equity in which the fund invests is common stock.
About PGIM Jennison Natural Resources Z (PNRZX)
There are 2 members of the management team with an average tenure of 19.93 years: Neil Brown (2006), John "Jay" Saunders (2006). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and MSCI World NR USD index with a weighting of 100%. PGIM Jennison Natural Resources Z has 58 securities in its portfolio. The top 10 holdings constitute 38.8% 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 Jennison Natural Resources Z is part of the Equity global asset class and is within the Sector Equity fund group. PGIM Jennison Natural Resources Z has 41.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 56.7%. There is 41.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). PGIM Jennison Natural Resources Z has 2.0% of the portfolio in cash.
Assets Under Management
The fund has $434 million in total assets, which is above the $232 million average for the Natural Resources 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.
PNRZX 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 Jennison Natural Resources Z expense ratio is high compared to funds in the Natural Resources category. PGIM Jennison Natural Resources Z has an expense ratio of 0.92%, which is 20% lower than its category average, making the fund expense ratio grade a B. 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 Jennison Natural Resources Z has a portfolio turnover rate of 57%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 60% for the Natural Resources category.
Recently, in the month of June 2026, PGIM Jennison Natural Resources Z returned -7.6%, which earned it a grade of C, as the Natural Resources category had an average return of -5.5%. 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 Jennison Natural Resources Z has a trailing yield of 1.03%, which is below the 2.09% category average. The fund normally distributes its income annually 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 Jennison Natural Resources Z Grades
Year to date, the fund has returned 13.2%, 1.6 percentage points better than the category, which translates into a grade of B. The fund has returned 40.1% over the past year (grade of A), 17.3% over the past three years (grade of A) and 15.1% per year over the past five years (grade of A) and 10.6% per year over the past 10 years (grade of B).
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PNRZX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PNRZX Return (NAV) | -7.6% | -4.8% | 40.1% | 17.3% | 15.1% | 10.6% |
| PNRZX Grade | C | C | A | A | A | B |
| +/- Category | -2.1% | -0.7% | 8.3% | 4.1% | 4.3% | 1.0% |
| Natural Resources Avg | -5.5% | -4.1% | 31.8% | 13.2% | 10.8% | 9.5% |
| PNRZX Tax Cost Ratio | na | na | 0.5% | 0.6% | 0.6% | 0.5% |
PNRZX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PNRZX Return (NAV) | 13.2% | 39.1% | 1.1% | -1.8% | 25.0% | 27.7% | 11.7% | 17.0% | -27.6% | 5.3% | 34.6% |
| PNRZX Grade | B | A | B | D | A | C | C | C | F | D | B |
| +/- Category | 1.6% | 10.5% | 1.7% | -5.2% | 16.9% | -3.1% | 2.1% | 2.2% | -7.1% | -7.8% | 6.1% |
| Natural Resources Avg | 11.6% | 28.6% | -0.5% | 3.4% | 8.0% | 30.8% | 9.6% | 14.8% | -20.5% | 13.1% | 28.6% |
| Risk Measures | |
| Standard Deviation: | 18.9% |
| Total Risk Index: | 1.55 - High |
| Category Risk Index: | 1.05 - High |
| Category Risk Grade: | F (84% Rank) |
| Beta: | 0.72 |
| R-Squared: | 23% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $908 Mil |
| Fund Total Assets: | $ 434 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 57% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 19.9 years | |||
| Average Tenure: 19.9 years | |||
| Managers (Year): Brown Neil (2006), Saunders John "Jay" (2006) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 58 |
| % in Top 10 Holdings: | 38.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 41.3% |
Portfolio Allocation |
|
| Domestic Stock: | 56.7% |
| Foreign Stock: | 41.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.0% |
Purchase Information
| Fund Family: | PGIM |
| Phone Number: | 800-225-1852 |
| Website: | www.prudentialfunds.com |
| Status: | Open |
| Inception Date: | September 16, 1996 |
| 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 (%): | 0.92% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | PGIM Jennison Natural Resources A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
