Fund Evaluator:
PGIM Short Duration Multi-Sector Bond C (SDMCX)
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Best Performing in Short-Term Bond Over the Last Year
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Fund Details
PGIM Short Duration Multi-Sector Bond C Overview
PGIM Short Duration Multi-Sector Bond C (SDMCX) is an actively managed Taxable Bond Short-Term Bond fund. PGIM launched the fund in 2013.
The investment seeks total return. The fund seeks to achieve its objective by investing in fixed income instruments, whereby issuers borrow money from investors in return for either a fixed or variable rate of interest and eventual repayment of the amount borrowed. It invests, under normal circumstances, at least 80% of the fund's investable assets in fixed income instruments with varying maturities. It may invest up to 50% of its investable assets in asset-backed securities.
About PGIM Short Duration Multi-Sector Bond C (SDMCX)
There are 5 members of the management team with an average tenure of 8.75 years: Gregory Peters (2014), Matthew Angelucci (2023), Tyler Thorn (2023), Robert Tipp (2013), Richard Piccirillo (2013). 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 Govt/Credit 1-3 Yr TR USD index with a weighting of 100%. PGIM Short Duration Multi-Sector Bond C has 1483 securities in its portfolio. The top 10 holdings constitute 29.6% 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 Short Duration Multi-Sector Bond C is part of the Fixed Income global asset class and is within the Taxable Bond fund group. PGIM Short Duration Multi-Sector Bond C has 18.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.3%. There is 0.0% allocated to foreign stock, and 0.8% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 96.8% (77.9% domestic bond, 18.9% foreign bond and 0.0% convertible bond). PGIM Short Duration Multi-Sector Bond C has 2.1% of the portfolio in cash.
Assets Under Management
The fund has $52 million in total assets, which is below the $917 million average for the Short-Term 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.
SDMCX 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 Short Duration Multi-Sector Bond C expense ratio is high compared to funds in the Short-Term Bond category. PGIM Short Duration Multi-Sector Bond C has an expense ratio of 1.44%, which is 117% higher than its category average, making the fund expense ratio grade a F. 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 Short Duration Multi-Sector Bond C has a portfolio turnover rate of 104%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 135% for the Short-Term Bond category.
Recently, in the month of August 2026, PGIM Short Duration Multi-Sector Bond C returned 0.2%, which earned it a grade of F, as the Short-Term Bond 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 Short Duration Multi-Sector Bond C has a trailing yield of 3.62%, which is below the 4.15% 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 Short Duration Multi-Sector Bond C Grades
Year to date, the fund has returned 0.8%, 0.4 percentage points worse than the category, which translates into a grade of D. The fund has returned 2.3% over the past year (grade of D), 4.6% over the past three years (grade of D) and 1.8% per year over the past five years (grade of D) and 1.9% per year over the past 10 years (grade of D).
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SDMCX 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 |
|
| SDMCX Return (NAV) | 0.2% | 0.1% | 2.3% | 4.6% | 1.8% | 1.9% |
| SDMCX Grade | F | F | D | D | D | D |
| +/- Category | -0.1% | -0.3% | -0.5% | -0.4% | -0.5% | -0.4% |
| Short-Term Bond Avg | 0.3% | 0.4% | 2.7% | 5.0% | 2.3% | 2.3% |
| SDMCX Tax Cost Ratio | na | na | 1.5% | 1.5% | 1.4% | 1.1% |
SDMCX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SDMCX Return (NAV) | 0.8% | 5.2% | 4.8% | 6.1% | -6.4% | -1.0% | 2.8% | 5.3% | -0.2% | 2.8% | 2.6% |
| SDMCX Grade | D | F | C | B | F | F | F | B | F | A | B |
| +/- Category | -0.4% | -0.7% | -0.1% | 0.5% | -1.4% | -1.0% | -1.4% | 0.5% | -0.9% | 1.0% | 0.1% |
| Short-Term Bond Avg | 1.2% | 5.9% | 4.9% | 5.6% | -5.0% | -0.0% | 4.2% | 4.8% | 0.7% | 1.9% | 2.5% |
| Risk Measures | |
| Standard Deviation: | 1.8% |
| Total Risk Index: | 0.14 - Low |
| Category Risk Index: | 0.89 - Average |
| Category Risk Grade: | C (58% Rank) |
| Beta: | 0.28 |
| R-Squared: | 82% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 3.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $8214 Mil |
| Fund Total Assets: | $ 52 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 104% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 12.7 years | |||
| Average Tenure: 8.8 years | |||
| Managers (Year): Tipp Robert (2013), Piccirillo Richard (2013), Peters Gregory (2014), Angelucci Matthew (2023), Thorn Tyler (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 1483 |
| % in Top 10 Holdings: | 29.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 18.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.3% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.8% |
| Domestic Bond: | 77.9% |
| Foreign Bond: | 18.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.1% |
Purchase Information
| Fund Family: | PGIM |
| Phone Number: | 800-225-1852 |
| Website: | www.prudentialfunds.com |
| Status: | Open |
| Inception Date: | December 23, 2013 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.44% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.66% |
| Share Class: | PGIM Short Duration Multi-Sector Bond Z |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
