Fund Evaluator:
PGIM Securitized Credit Z (SCFZX)
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Fund Details
PGIM Securitized Credit Z Overview
PGIM Securitized Credit Z (SCFZX) is an actively managed Taxable Bond Securitized Bond - Diversified fund. PGIM launched the fund in 2019.
The investment seeks to maximize total return, through a combination of current income and capital appreciation. Under normal market conditions, the fund invests at least 80% of its investable assets in securitized credit investments and other similar credit instruments, including derivative instruments that provide exposure to securitized credit investments and other similar credit instruments. It may invest in investment-grade and non-investment grade debt securities.
About PGIM Securitized Credit Z (SCFZX)
There are 4 members of the management team with an average tenure of 4.92 years: Brian Juliano (2019), Edwin Wilches (2019), Gabriel Rivera (2021), Jordan Cohen (2025). 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 ICE BofA US 3M Trsy Bill TR USD index with a weighting of 100%. PGIM Securitized Credit Z has 702 securities in its portfolio. The top 10 holdings constitute 8.5% 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 Securitized Credit Z is part of the Fixed Income global asset class and is within the Taxable Bond fund group. PGIM Securitized Credit Z has 27.9% 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 96.7% (68.8% domestic bond, 27.9% foreign bond and 0.0% convertible bond). PGIM Securitized Credit Z has 3.3% of the portfolio in cash.
Assets Under Management
The fund has $3 billion in total assets, which is above the $547 million average for the Securitized Bond - Diversified 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.
SCFZX 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 Securitized Credit Z expense ratio is above average compared to funds in the Securitized Bond - Diversified category. PGIM Securitized Credit Z has an expense ratio of 0.65%, which is 34% 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 Securitized Credit Z has a portfolio turnover rate of 36%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 361% for the Securitized Bond - Diversified category.
Recently, in the month of July 2026, PGIM Securitized Credit Z returned 0.4%, which earned it a grade of A, as the Securitized Bond - Diversified category had an average return of -0.7%. 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 Securitized Credit Z has a trailing yield of 5.03%, which is below the 5.10% 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 Securitized Credit Z Grades
Year to date, the fund has returned 3.1%, 2.1 percentage points better than the category, which translates into a grade of A. The fund has returned 5.8% over the past year (grade of A), 7.4% over the past three years (grade of B) and 5.5% per year over the past five years (grade of A).
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SCFZX 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 |
|
| SCFZX Return (NAV) | 0.4% | 1.4% | 5.8% | 7.4% | 5.5% | na |
| SCFZX Grade | A | A | A | B | A | na |
| +/- Category | 1.1% | 1.4% | 1.2% | 1.2% | 3.4% | na |
| Securitized Bond - Diversified Avg | -0.7% | -0.0% | 4.6% | 6.2% | 2.1% | 2.6% |
| SCFZX Tax Cost Ratio | na | na | 2.0% | 2.4% | 2.2% | na |
SCFZX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SCFZX Return (NAV) | 3.1% | 5.7% | 9.4% | 9.9% | -1.0% | 5.5% | -0.3% | na | na | na | na |
| SCFZX Grade | A | F | A | A | A | A | D | na | na | na | na |
| +/- Category | 2.1% | -2.4% | 3.6% | 3.2% | 8.3% | 3.7% | -1.7% | na | na | na | na |
| Securitized Bond - Diversified Avg | 1.1% | 8.1% | 5.7% | 6.6% | -9.3% | 1.8% | 1.3% | 7.2% | 1.9% | 4.2% | 3.1% |
| Risk Measures | |
| Standard Deviation: | 1.1% |
| Total Risk Index: | 0.09 - Low |
| Category Risk Index: | 0.24 - Low |
| Category Risk Grade: | A (8% Rank) |
| Beta: | 0.02 |
| R-Squared: | 2% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 5.0% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $3360 Mil |
| Fund Total Assets: | $3,097 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 36% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 7.1 years | |||
| Average Tenure: 4.9 years | |||
| Managers (Year): Juliano Brian (2019), Wilches Edwin (2019), Rivera Gabriel (2021), Cohen Jordan (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 702 |
| % in Top 10 Holdings: | 8.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 27.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 68.8% |
| Foreign Bond: | 27.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.3% |
Purchase Information
| Fund Family: | PGIM |
| Phone Number: | 800-225-1852 |
| Website: | www.prudentialfunds.com |
| Status: | Open |
| Inception Date: | July 1, 2019 |
| 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 (%): | 0.65% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.99% |
| Share Class: | PGIM Securitized Credit R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
