Fund Evaluator:
PGIM TIPS R6 (PQTSX)
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Best Performing in Inflation-Protected Bond Over the Last Year
| 9.7% | Carillon Chartwell Real Income I (BERIX) |
| 2.2% | VALIC Company I Inflation Protected (VCTPX) |
| 1.2% | Transamerica Inflation Opps I3 (TIOBX) |
| 1.1% | T. Rowe Price Inflation Protected Bond Z (TRZHX) |
| 1.0% | Fidelity Inflation-Prot Bd Index (FIPDX) |
Fund Details
PGIM TIPS R6 Overview
PGIM TIPS R6 (PQTSX) is an actively managed Taxable Bond Inflation-Protected Bond fund. PGIM launched the fund in 2016.
The investment seeks to provide inflation protection and income by investing primarily in inflation protected debt securities. The fund invests, under normal circumstances, at least 80% of its investable assets in U.S. Treasury Inflation-Protected Securities ("TIPS"). In pursuit of this investment policy, the fund may invest a large percentage of its investable assets in securities held within the underlying index. It may also hold non inflation-indexed securities, although these will normally not exceed 20% of the fund's total assets. The investments may be public or private securities.
About PGIM TIPS R6 (PQTSX)
There are 5 members of the management team with an average tenure of 6.35 years: Craig Dewling (2016), Gary Wu (2016), Mick Meyler (2021), Vivek Sahay (2025), Robert Tipp (2021). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Treasury US TIPS TR USD index with a weighting of 100%. PGIM TIPS R6 has 40 securities in its portfolio. The top 10 holdings constitute 72.4% 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 TIPS R6 is part of the Fixed Income global asset class and is within the Taxable Bond fund group. PGIM TIPS R6 has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.6% (98.6% domestic bond, 0.0% foreign bond and 0.0% convertible bond). PGIM TIPS R6 has 1.4% of the portfolio in cash.
Assets Under Management
The fund has $44 million in total assets, which is below the $882 million average for the Inflation-Protected Bond 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.
PQTSX 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 TIPS R6 expense ratio is below average compared to funds in the Inflation-Protected Bond category. PGIM TIPS R6 has an expense ratio of 0.30%, which is 59% 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 TIPS R6 has a portfolio turnover rate of 85%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 73% for the Inflation-Protected Bond category.
Recently, in the month of August 2026, PGIM TIPS R6 returned 0.0%, which earned it a grade of D, as the Inflation-Protected Bond category had an average return of 0.2%. 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 TIPS R6 has a trailing yield of 5.71%, which is above the 4.18% category average. The fund normally distributes its income monthly.
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 TIPS R6 Grades
Year to date, the fund has returned 0.6%, 0.2 percentage points better than the category, which translates into a grade of B. The fund has returned 0.9% over the past year (grade of B), 3.8% over the past three years (grade of C) and 0.1% per year over the past five years (grade of C).
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PQTSX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PQTSX Return (NAV) | 0.0% | -1.2% | 0.9% | 3.8% | 0.1% | na |
| PQTSX Grade | D | C | B | C | C | na |
| +/- Category | -0.1% | 0.0% | 0.0% | -0.0% | 0.1% | na |
| Inflation-Protected Bond Avg | 0.2% | -1.2% | 0.9% | 3.8% | 0.0% | 2.1% |
| PQTSX Tax Cost Ratio | na | na | 2.2% | 2.0% | 2.3% | na |
PQTSX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PQTSX Return (NAV) | 0.6% | 6.6% | 1.8% | 3.6% | -12.2% | 5.6% | 10.2% | 8.2% | -1.7% | 2.7% | na |
| PQTSX Grade | B | C | C | C | C | B | D | B | C | C | na |
| +/- Category | 0.2% | -0.2% | 0.0% | 0.2% | 0.1% | 0.6% | -0.9% | 0.2% | 0.3% | -0.2% | na |
| Inflation-Protected Bond Avg | 0.4% | 6.7% | 1.8% | 3.4% | -12.3% | 5.1% | 11.1% | 8.0% | -1.9% | 2.9% | 4.5% |
| Risk Measures | |
| Standard Deviation: | 4.2% |
| Total Risk Index: | 0.35 - Low |
| Category Risk Index: | 0.94 - Average |
| Category Risk Grade: | C (43% Rank) |
| Beta: | 0.70 |
| R-Squared: | 88% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 5.7% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $44 Mil |
| Fund Total Assets: | $ 45 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 85% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 9.8 years | |||
| Average Tenure: 6.4 years | |||
| Managers (Year): Dewling Craig (2016), Wu Gary (2016), Meyler Mick (2021), Tipp Robert (2021), Sahay Vivek (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 40 |
| % in Top 10 Holdings: | 72.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 98.6% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.4% |
Purchase Information
| Fund Family: | PGIM |
| Phone Number: | 800-225-1852 |
| Website: | www.prudentialfunds.com |
| Status: | Open |
| Inception Date: | November 15, 2016 |
| 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 (%): | 0.30% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.73% |
| Share Class: | PGIM TIPS R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
