In plain terms — PGIM Short Duration High Yield Opportunities Fund
Shares currently cost about 8.9% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 7.1% discount, so today's level is unusually wide for this fund (Z-score -2.1). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 8.5% a year of the share price (7.8% 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 $1.10 of assets — a ReinvestCapture™ rate of 9.4%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 0.8% 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 | -7.39% | 1.35% | -1.46 | 55 |
| 6 months | -7.43% | 1.09% | -1.77 | 108 |
| 1 year | -7.12% | 1.06% | -2.12 | 206 |
| 3 years | -8.76% | — | — | — |
| 5 years | -9.57% | — | — | — |
Current contemporaneous premium/discount -9.36% (close Oct 15, 2026 vs NAV Oct 14, 2026). 1-year range -9.94% to -4.72%. 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 | -1.30% | -5.18% | -7.72% | -9.54% | +2.39% | -4.05% |
| Market price total return | -0.60% | -3.21% | -1.95% | -1.33% | +11.01% | +4.14% |
| NAV return | -1.36% | -3.53% | -5.34% | -6.40% | +0.20% | -3.30% |
| NAV total return | -1.36% | -2.31% | -0.50% | +0.81% | +7.66% | +4.00% |
Through Oct 15, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
PGIM Short Duration High Yield Opportunities Fund is a closed-end investment fund, which engages in investment activity. It seeks to provide total return, through a combination of current income and capital appreciation by investing primarily in below investment-grade fixed income instruments. The company was founded on May 15, 2020 and is headquartered in Newark, NJ.
CEF Explorer research page for PGIM Short Duration High Yield Opportunities Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.