Fund Evaluator:
PGIM Target Date 2040 R6 (PDHJX)
Follow This Fund
Best Performing in Target-Date 2040 Over the Last Year
| 36.6% | SP Funds 2040 Target Date Investor (SPTBX) |
| 23.6% | Fidelity Advisor Freedom Blend 2040 Z (FHHFX) |
| 22.5% | Fidelity Advisor Sust Trgt Dt 2040 Z (FSYDX) |
| 22.4% | Fidelity Advisor Sust Trgt Dt 2040 I (FSYBX) |
| 21.7% | Fidelity Advisor Freedom 2040 Z (FIJPX) |
Fund Details
PGIM Target Date 2040 R6 Overview
PGIM Target Date 2040 R6 (PDHJX) is an actively managed Allocation Target-Date 2040 fund. PGIM launched the fund in 2016.
The investment seeks a balance between growth and conservation of capital. The fund pursues its objective by investing in a diversified portfolio of other mutual funds within the PGIM fund family (collectively, "underlying funds") that represent various asset classes and sectors. It will invest in underlying funds that provide exposure to equity, fixed income and non-traditional asset classes. The fund is designed for investors expecting to retire in or close to the year 2040 (the "target date").
About PGIM Target Date 2040 R6 (PDHJX)
There are 3 members of the management team with an average tenure of 7.22 years: Joel Kallman (2016), Jeremy Stempien (2016), David Blanchett (2023). 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 Bloomberg US Agg Bond TR USD index with a weighting of 100%. PGIM Target Date 2040 R6 has 12 securities in its portfolio. The top 10 holdings constitute 99.8% 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 Target Date 2040 R6 is part of the Allocation global asset class and is within the Allocation fund group. PGIM Target Date 2040 R6 has 25.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 50.7%. There is 24.0% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 22.1% (20.4% domestic bond, 1.7% foreign bond and 0.0% convertible bond). PGIM Target Date 2040 R6 has 2.1% of the portfolio in cash.
Assets Under Management
The fund has $35 million in total assets, which is below the $1 billion average for the Target-Date 2040 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.
PDHJX 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 Target Date 2040 R6 expense ratio is below average compared to funds in the Target-Date 2040 category. PGIM Target Date 2040 R6 has an expense ratio of 0.25%, which is 63% 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 Target Date 2040 R6 has a portfolio turnover rate of 39%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 22% for the Target-Date 2040 category.
Recently, in the month of June 2026, PGIM Target Date 2040 R6 returned 0.2%, which earned it a grade of C, as the Target-Date 2040 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 Target Date 2040 R6 has a trailing yield of 2.63%, which is above the 1.91% 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 Target Date 2040 R6 Grades
Year to date, the fund has returned 10.2%, 0.6 percentage points better than the category, which translates into a grade of B. The fund has returned 19.3% over the past year (grade of C), 15.2% over the past three years (grade of D) and 8.6% per year over the past five years (grade of B).
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PDHJX 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 |
|
| PDHJX Return (NAV) | 0.2% | 10.5% | 19.3% | 15.2% | 8.6% | na |
| PDHJX Grade | C | C | C | D | B | na |
| +/- Category | -0.1% | -0.6% | 0.5% | -0.4% | 0.6% | na |
| Target-Date 2040 Avg | 0.3% | 11.2% | 18.8% | 15.6% | 8.0% | 10.4% |
| PDHJX Tax Cost Ratio | na | na | 1.6% | 2.3% | 2.6% | na |
PDHJX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PDHJX Return (NAV) | 10.2% | 16.4% | 12.3% | 16.1% | -14.3% | 18.2% | 11.0% | 22.9% | -7.4% | 19.3% | na |
| PDHJX Grade | B | D | D | F | A | A | F | F | B | D | na |
| +/- Category | 0.6% | -1.0% | -0.5% | -1.8% | 3.0% | 2.5% | -4.3% | -0.9% | 0.5% | -0.7% | na |
| Target-Date 2040 Avg | 9.6% | 17.4% | 12.8% | 17.9% | -17.4% | 15.7% | 15.3% | 23.8% | -7.9% | 20.1% | 7.8% |
| Risk Measures | |
| Standard Deviation: | 9.8% |
| Total Risk Index: | 0.81 - Average |
| Category Risk Index: | 0.92 - Low |
| Category Risk Grade: | A (10% Rank) |
| Beta: | 1.03 |
| R-Squared: | 96% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 2.6% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $39 Mil |
| Fund Total Assets: | $ 36 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 39% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 9.6 years | |||
| Average Tenure: 7.2 years | |||
| Managers (Year): Kallman Joel (2016), Stempien Jeremy (2016), Blanchett David (2023) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 12 |
| % in Top 10 Holdings: | 99.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 25.7% |
Portfolio Allocation |
|
| Domestic Stock: | 50.7% |
| Foreign Stock: | 24.0% |
| Preferred Stock: | 0.1% |
| Domestic Bond: | 20.4% |
| Foreign Bond: | 1.7% |
| Convertible Bond: | 0.0% |
| Other: | 1.1% |
| Cash: | 2.1% |
Purchase Information
| Fund Family: | PGIM |
| Phone Number: | 800-225-1852 |
| Website: | www.prudentialfunds.com |
| Status: | Open |
| Inception Date: | December 13, 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 (%): | 0.25% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.67% |
| Share Class: | PGIM Target Date 2040 R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
