In plain terms — PGIM Global High Yield Fund
Shares currently cost about 12.4% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 7.2% discount, so today's level is somewhat wide for this fund (Z-score -2.0). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 11.8% a year of the share price (10.3% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.14 of assets — a ReinvestCapture™ rate of 13.5%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 2.2% over the past year including distributions (NAV total return).
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -9.31% | 1.26% | -1.78 | 55 |
| 6 months | -8.64% | 1.25% | -2.33 | 108 |
| 1 year | -7.23% | 2.18% | -1.99 | 206 |
| 3 years | -5.81% | — | — | — |
| 5 years | -7.62% | — | — | — |
Current contemporaneous premium/discount -11.55% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -11.67% to -2.49%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -5.32% | -10.34% | -13.53% | -15.18% | +0.44% | -7.39% |
| Market price total return | -5.32% | -8.69% | -7.24% | -5.87% | +10.98% | +2.63% |
| NAV return | -2.32% | -4.83% | -6.87% | -7.22% | +0.75% | -5.79% |
| NAV total return | -2.32% | -3.25% | -0.60% | +2.23% | +10.69% | +3.56% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
PGIM Global Short Duration High Yield Fund, Inc. is a closed ended fixed income mutual fund launched and managed by PGIM Investments LLC. The fund is co-managed by PGIM Fixed Income. It invests in fixed income markets across the globe. The fund primarily invests in high yield fixed income instruments of varying maturities that are rated Ba1 or lower by Moody's Investors Service, Inc. or BB+ or lower by Standard & Poor's Ratings Services. It seeks to maintain a weighted average maturity of five years or less. PGIM Global Short Duration High Yield Fund, Inc. was formed on December 26, 2012 and is domiciled in the United States.
CEF Explorer research page for PGIM Global High Yield Fund, Inc.. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.