PGIM expands fixed income ETF suite with launch of three actively managed corporate bond ETFs
New actively managed ETFs offer targeted exposure to short-, intermediate-, and long-term investment-grade corporate bonds
PGIM,1 the $1.39 trillion global investment management business of Prudential Financial, Inc. ((PRU), has launched three new actively managed fixed income ETFs: the PGIM Corporate Bond 0–5 Year ETF (PCS), PGIM Corporate Bond 5–10 Year ETF (PCI), and PGIM Corporate Bond 10+ Year ETF (PCL).
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"These ETFs are designed to meet the growing demand for investing in high-quality corporate fixed income securities." -- Stuart Parker, Head of Global Wealth, PGIM
The new ETFs each seek to provide total return through a combination of current income and capital appreciation with cost-effective access to investment-grade corporate bonds across the maturity spectrum.
- PGIM Corporate Bond 0–5 Year ETF (PCS) invests primarily in investment-grade corporate bonds with maturities of less than five years at a 0.20% net expense ratio.
- PGIM Corporate Bond 5–10 Year ETF (PCI) invests primarily in investment-grade corporate bonds with maturities between five and 10 years, offering intermediate-term exposure at a 0.25% net expense ratio.
- PGIM Corporate Bond 10+ Year ETF (PCL) invests primarily in long-duration investment-grade corporate bonds with maturities of 10 years or more at a 0.25% net expense ratio.
PCS, PCI, and PCL are attractively priced, with net expense ratios ranking top quartile amongst active mutual funds and ETFs within their respective Morningstar categories. This pricing reflects PGIM's commitment to delivering actively managed expertise at highly competitive costs.2
"These ETFs are designed to meet the growing demand for investing in high-quality corporate fixed income securities," said Stuart Parker, PGIM's head of global wealth. "This launch reflects our commitment to bringing a diverse set of actively managed fixed income solutions to market for clients in additional wrappers."
All three ETFs are actively managed and aim to maintain a weighted average portfolio duration within one year of their respective Bloomberg U.S. Corporate Bond Index benchmarks. The funds are listed on the Cboe BZX Exchange.
Rajat Shah, PGIM's co-head of U.S. Investment Grade Corporate Bonds, added, "These ETFs leverage PGIM's deep expertise in credit research and active portfolio management to uncover value while seeking to deliver consistent, long-term returns for our clients. By offering targeted maturity exposure with active management, our solutions can help investors better align their bond allocations with risk and return objectives."
The launch of PCS, PCI, and PCL expands PGIM's growing ETF platform, which now includes 13 fixed income ETFs and more than 50 equity, multi-asset and buffer ETFs. PGIM is the 11th-largest active ETF provider, with $17.1 billion in AUM across the ETF platform.3
ABOUT PGIM
PGIM is the global asset management business of Prudential Financial, Inc. ((PRU). In 41 offices across 19 countries, our more than 1,450 investment professionals serve both retail and institutional clients around the world.
As a leading global asset manager with $1.39 trillion in assets under management,4 PGIM is built on a foundation of strength, stability, and disciplined risk management. Our multi-affiliate model allows us to deliver specialized expertise across key asset classes with a focused investment approach. This gives our clients a diversified suite of investment strategies and solutions with global depth and scale across public and private asset classes, including fixed income, equities, real estate, private credit, and other alternatives. For more information, visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.
1 The term PGIM as used in this announcement includes PGIM Investments LLC, an indirect, wholly owned subsidiary of Prudential Financial, Inc.
2 Source: Morningstar as of June 30, 2025. Net expense ratios are ranked against active ETFs and mutual funds (institutional share class only). Morningstar categories: PCS: Short-Term Bond Category, PCI: Corporate Bond Category; PCL: Long Duration Bond Category.
3 As of June 30, 2025.
4 As of March 31, 2025.
Consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. Contact your financial professional for a prospectus and summary prospectus. Read them carefully before investing.
Investment products are distributed by Prudential Investment Management Services LLC, member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager. PGIM Fixed Income is an affiliate of PGIM and is a Prudential Financial company. © 2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, PGIM Fixed Income and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
Investing in exchange-traded funds (ETFs) involves risks. Some ETFs have more risk than others. The investment return and principal value will fluctuate, and shares when sold may be worth more or less than the original cost, and it is possible to lose money.
The Funds are actively managed ETFs and thus do not seek to replicate the performance of a specified index. ETF shares are not individually redeemable from the Funds. Shares may only be redeemed directly from the Fund by Authorized Participants in Creation Units.
Fixed income investments are subject to credit, market, and interest rate risks (including duration risk and prepayment risk), and their value will decline as interest rates rise; call and redemption risk, where the issuer may call a bond held by the Funds for redemption before it matures and the Funds may lose income; liquidity risk, which exists when particular investments are difficult to sell; and emerging markets risk, which exposes the Funds to greater volatility and price declines.
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Investment products are not insured by the FDIC or any federal government agency, may lose value, and are not a deposit of or guaranteed by any bank or any bank affiliate.
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