Investment Objective: |
The investment objective of PGIM Ultra Short Bond ETF is to seek total return through a combination of current income and capital appreciation, consistent with preservation of capital. The fund invests primarily in a portfolio of investment grade, U.S. dollar denominated short-term fixed, variable and floating rate debt instruments. Under normal market conditions, it invests at least 80% of its investable assets in bonds with varying maturities. Although the fund may invest in instruments of any duration or maturity, it normally will seek to maintain a weighted average portfolio duration of one year or less and a weighted average maturity of three years or less. The Fund s weighted average portfolio duration and maturity, however, may be longer at any time or from time to time based on market conditions. |