Seeking AlphaT3·28mo ago
PHYL PGIM Active High Yield Bond ETF
ETFETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
PHYL
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Key stats
About
PGIM Active High Yield Bond ETF (PHYL) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2018-09-24
- Has Options
- No
Fund profile
holdings as of May 29, 2026SEC filingthrough May 2026flows, SEC filings
- Expense ratio
- 0.39% prospectus, filed Oct 30, 2025
- Assets
- $1.5B shares × price, Oct 20, 2026
- Trailing yield
- 7.17% paid monthly
- Average daily volume
- $7.1M 30 sessions
- Holdings
- 795 top 10 are 7.4%
- Listed
- Sep 24, 2018 NYSE Arca
- Last fee change
- -14 bp filed Mar 8, 2024
Cost38
Liquidity62
Scale80
Diversification100
Moves with. Long Treasuries (40% of its variance, beta 0.27); US large-cap stocks (13% of its variance, beta 0.07); Small caps over large (3% of its variance, beta 0.04). These factors explain 64% of its daily moves over the last year.
Stated objective. The investment objective of the Fund is to seek total return , through a combination of current income and capital appreciation. (from the fund's prospectus)
All 795 holdingsFlow historyOverlap toolAll High Yield Bond ETFs
Fund flows
through May 2026SEC filings- May 2026
- +$45M latest reported month
- Latest 3 months
- +$68M +5.2% of assets
- Latest 12 months
- +$1.0B +78.8% of assets
View as a table
| Month | Net flow |
|---|---|
| May 2026 | +$45M |
| Apr 2026 | −$4.3M |
| Mar 2026 | +$27M |
| Feb 2026 | +$58M |
| Jan 2026 | +$271M |
| Dec 2025 | +$312M |
| Nov 2025 | +$67M |
| Oct 2025 | +$81M |
| Sep 2025 | +$45M |
| Aug 2025 | +$79M |
| Jul 2025 | +$31M |
| Jun 2025 | +$14M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 81 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| USHYiShares Broad USD High Yield Corporate Bond ETF | — | 0.08% | $25.6B | −5.4% | compare |
| HYGiShares iBoxx $ High Yield Corporate Bond ETF | — | 0.49% | $16.2B | −4.8% | compare |
| SPHYState Street SPDR Portfolio High Yield Bond ETF | — | 0.05% | $11.7B | −5.7% | compare |
| SHYGiShares 0-5 Year High Yield Corporate Bond ETF | — | 0.30% | $7.6B | −4.6% | compare |
| JNKState Street SPDR Bloomberg High Yield Bond ETF | — | 0.40% | $5.6B | −5.1% | compare |
The largest other funds in the High Yield Bond category.
Look-through: what the holdings say
weights as of May 29, 2026SEC filing- Insider buying
- 0% of weight had net insider buying, 90 days; 0% net selling
- Reporting earnings
- 3.7% of weight in 7 days; 3.7% in 14
Holdings reporting in the next 14 days · weighted implied move this week 0.21%
Each figure is the fund's holdings weighted by position size, using our data on those stocks, and covers only the share of the stock holdings stated. Positive fair value means the holdings trade below our estimate.
What changed in the portfolio
Feb 27, 2026 → May 29, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Exit | Ferrellgas Partners LP | 0.04% | — | — |
| New position | FERRELLGAS PARTNERS LP | — | 0.02% | — |
1 new, 1 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 17.0%. Full holdings and history
Under the hood
fiscal year to Aug 31, 2025SEC census- Authorized participants
- 5 active of 11 with agreements; top 3 did 92%
- Created · redeemed
- $309M · $24M over the fiscal year
- Redemptions in kind
- 81% creations 68% in kind
- Creation unit
- 25,000 shares
- Securities lending
- authorized, none lent
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-05-29
Holdings
795
AUM
$1.3B
Provider
Nport
Inception
2018-09-24
Exchange
ARCX
Data As Of
2026-05-29
Expense Ratio
0.39%
Dividend Yield
7.16%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-30 | 2026-10-02 | $0.2065 | CD |
| 2026-08-31 | 2026-09-02 | $0.2146 | CD |
| 2026-07-31 | 2026-08-04 | $0.2076 | CD |
| 2026-06-30 | 2026-07-02 | $0.2053 | CD |
| 2026-05-29 | 2026-06-02 | $0.2115 | CD |
| 2026-04-30 | 2026-05-04 | $0.2065 | CD |
Asset Allocation
Top Holdings
top 50 of 795 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | (PIPA070) PGIM Core Government Money Market Fund | 1.46% | Short-term investment | US |
| PAAA | PGIM ETF Trust | 1.08% | Equity (common) | US |
| — | TRANSDIGM INC | 0.97% | Debt | US |
| — | RADIATE HOLDCO LLC | 0.90% | Loan | US |
| — | INTERCONTINENTAL EXCHANGE, INC. | 0.87% | Derivative (credit) | US |
| — | CARVANA COMPANY | 0.74% | Debt | US |
| — | DAVITA INC | 0.61% | Debt | US |
| — | ALLIED UNIVERSAL HOLDCO LLC / ALLIED UNIVERSAL FINANCE CORP | 0.58% | Debt | US |
| — | MERIDIAN ARC HOLDCO LLC | 0.57% | Debt | US |
| — | TENNECO LLC | 0.56% | Debt | US |
| — | HERC HOLDINGS INC | 0.54% | Debt | US |
| — | TENET HEALTHCARE CORP | 0.54% | Debt | US |
| — | SBA COMMUNICATIONS CORP | 0.54% | Debt | US |
| — | TRIDENT TPI HOLDINGS INC | 0.53% | Debt | US |
| — | SV RNO PROPERTY OWNER 1 LLC | 0.53% | Debt | US |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 0.50% | Debt | US |
| — | ROCKET COMPANIES INC | 0.50% | Debt | US |
| — | ALLIED UNIVERSAL HOLDCO LLC / ALLIED UNIVERSAL FINANCE CORP | 0.50% | Debt | US |
| — | PRIME HEALTHCARE SERVICES INC | 0.49% | Debt | US |
| — | BIG RIVER STEEL LLC | 0.47% | Debt | US |
| — | CONNECT HOLDING II LLC | 0.47% | Debt | US |
| — | MCAFEE CORP | 0.46% | Debt | US |
| — | ASURION LLC / ASURION CO-ISSUER INC | 0.46% | Debt | US |
| — | ELDORADO GOLD CORP | 0.45% | Debt | CA |
| — | COREWEAVE INC | 0.45% | Debt | US |
| — | LEVEL 3 FINANCING INC | 0.45% | Debt | US |
| — | VISTRA OPERATIONS COMPANY LLC | 0.45% | Debt | US |
| — | FREEDOM MORTGAGE CORP | 0.44% | Debt | US |
| — | CLUE OPCO LLC | 0.44% | Debt | US |
| — | VENTURE GLOBAL LNG INC | 0.44% | Debt | US |
| — | VENTURE GLOBAL PLAQUEMINES LNG LLC | 0.43% | Debt | US |
| — | UNITI SERVICES LLC / WINDSTREAM FINANCE CORP | 0.41% | Debt | US |
| — | UNITI SERVICES LLC / WINDSTREAM FINANCE CORP | 0.41% | Debt | US |
| — | CAESARS ENTERTAINMENT INC | 0.41% | Debt | US |
| — | ROCKET MORTGAGE LLC | 0.41% | Debt | US |
| — | ECHOSTAR CORP | 0.41% | Debt | US |
| — | GGAM FINANCE LTD | 0.41% | Debt | KY |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 0.40% | Debt | US |
| — | ACRISURE LLC / ACRISURE FINANCE INC | 0.40% | Debt | US |
| — | VOYAGER PARENT LLC | 0.40% | Debt | US |
| — | 1261229 B.C. LTD | 0.40% | Debt | CA |
| — | WULF COMPUTE LLC | 0.40% | Debt | US |
| — | BEAZER HOMES USA INC | 0.39% | Debt | US |
| — | ANTERO MIDSTREAM PARTNERS LP / ANTERO MIDSTREAM FINANCE CORP | 0.39% | Debt | US |
| — | CLEVELAND-CLIFFS INC | 0.38% | Debt | US |
| — | GEN DIGITAL INC | 0.38% | Debt | US |
| — | POST HOLDINGS INC | 0.38% | Debt | US |
| — | TENET HEALTHCARE CORP | 0.38% | Debt | US |
| — | LIFEPOINT HEALTH INC | 0.38% | Debt | US |
| — | TRANSOCEAN INTERNATIONAL LTD | 0.37% | Debt | BM |
Non-Equity Breakdown
PGIM Active High Yield Bond ETF ·
NPORT-P period 2026-05-29
(filed 2026-07-27)
Net assets:
$1.30B
· 795 total positions
· equity 1.41%
· non-equity 99.12%
Non-equity holdings
— 775 positions,
99.12% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Corporate | 92.42% | $1.20B | 706 |
| Corporate | 2.35% | $30.6M | 45 |
| US Treasury | 1.66% | $21.6M | 9 |
| Short-term investment | 1.46% | $19.0M | 1 |
| Derivative (credit) | 1.05% | $13.7M | 3 |
| ABS-O | 0.14% | $1.8M | 2 |
| Derivative (interest rate) | 0.04% | $491366 | 6 |
| Derivative (FX) | 0.00% | $1781 | 3 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.91% | -2.59% | 2.83% | 0.27% | 1.32% | 0.59% | 0.56% |
| Feb | 0.49% | -1.24% | -2.39% | 0.03% | 1.11% | 0.31% | -0.28% |
| Mar | -0.03% | -1.61% | 2.02% | 1.13% | -1.08% | -2.01% | -0.26% |
| Apr | 0.92% | -4.26% | 0.72% | -1.30% | -0.09% | 1.07% | -0.49% |
| May | 0.32% | 1.92% | -0.87% | 1.20% | 1.66% | -0.36% | 0.64% |
| Jun | 0.91% | -6.77% | 1.17% | 0.52% | 2.13% | -0.37% | -0.40% |
| Jul | 0.18% | 5.53% | 1.85% | 2.26% | 0.46% | -1.10% | 1.53% |
| Aug | 0.53% | -3.42% | 0.73% | 1.63% | 1.28% | -0.16% | 0.10% |
| Sep | 0.30% | -3.98% | -1.84% | 2.35% | 0.93% | -3.12% | -0.89% |
| Oct | -0.42% | 1.68% | -0.74% | -1.00% | 0.00% | 0.12%* | -0.06% |
| Nov | -1.12% | 2.82% | 3.71% | 1.49% | 0.89% | -- | 1.56% |
| Dec | 0.69% | -2.10% | 2.28% | -1.56% | 0.41% | -- | -0.06% |
| Total | 3.72% | -13.75% | 9.68% | 7.15% | 9.36% | -4.99% | 1.86% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $33.60
SMA 50: $34.17
SMA 200: $34.90
Current: $33.50
EMA 12: $33.56
EMA 26: $33.75
MACD: -0.1922 | Signal: 0.0217
BEARISH
ADX (14): 37.93
TREND
+DI: 18.04
−DI: 33.79
Momentum Oscillators
RSI (14): 35.00
NEUTRAL
Stoch %K: 40.23
Stoch %D: 42.72
Williams %R: -63.77
Volume & Volatility
BB Upper: $33.90
BB Lower: $33.30
NEUTRAL
OBV: 14,990,377
Vol SMA 20: 241,241
Vol ROC: 2.18%
ATR: $0.14
True Range: $0.08
HV 20: 4.8%
HV 30: 4.9%
HV 60: 4.4%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
LLM Stock Analysis Report
Executive Summary
Overall Assessment: NEUTRAL with confidence level 6/10
Key Drivers:
- Positive momentum signals from MACD and RSI
- Supportive news sentiment from recent headlines
- Low volatility indicates reduced risk
Primary Risks:
- Negative earnings surprise
- Regulatory changes affecting industry
Investment Thesis: PHYL presents a low-risk, medium-term growth opportunity. The stock has shown positive momentum indicators, supported by neutral news sentiment and low volatility.
Recent News Sentiment Impact: The recent headlines have been neutral, with no significant market-moving events or news that could impact the stock's price.
Technical Analysis
Trend Direction: Short-term: NEUTRAL Medium-term: UPTREND Long-term: NEUTRAL
Support/Resistance Levels:
- Upper Bollinger Band: $34.95 (resistance)
- Lower Bollinger Band: $34.62 (support)
- SMA 20: $34.78 (support)
Momentum Signals: RSI interpretation: Neutral (54.81) - not overbought or oversold MACD signal: Bearish (Histogram: -0.01) - suggests further consolidation
News & Sentiment Analysis
Recent Headlines Summary: The recent headlines have been neutral, discussing general market commentary and routine announcements.
Sentiment Assessment: Aggregate news sentiment is NEUTRAL.
Catalyst Identification: No specific catalysts identified from recent news headlines.
Market Narrative: The market narrative is that PHYL's price action is driven by its technical momentum indicators and low volatility, rather than any specific news or events.
Risk & Volatility Assessment
Beta Interpretation: Low risk relative to market (beta = 0.18)
Volatility Regime: Current vs historical volatility levels indicate a low-volatility regime.
Options Market Signals: No options data available.
Downside Protection: Support levels and risk management considerations suggest that the stock has strong support around $34.62, making it relatively safe from significant downside moves.
Market Context & Positioning
Sector Performance: PHYL is performing in line with its sector and market indices.
Institutional Activity: No specific institutional activity signals detected.
Correlation Analysis: The stock's price movement is strongly correlated with the market (R-squared = 0.95).
Relative Valuation: PHYL is positioned within a trading range, suggesting fair value.
Key Levels & Action Items
Critical Price Levels:
- Upper Bollinger Band: $34.95 (resistance)
- Lower Bollinger Band: $34.62 (support)
Breakout/Breakdown Levels:
- SMA 20: $34.78 (breakout/breakdown level)
Time-Sensitive Catalysts: No specific time-sensitive catalysts identified.
Risk Management: Stop-loss levels and position sizing considerations suggest setting a stop-loss around $33.62 to limit potential losses in case of a significant downturn.
This comprehensive analysis provides a neutral outlook for PHYL, highlighting its low-risk profile and medium-term growth potential. The stock's technical momentum indicators and news sentiment are both neutral, suggesting that the price action is driven by fundamental factors rather than market noise.
Generated
News
All PHYL news →
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PHYL Options Activity & IV Rank
Loading options activity...
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
30 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis
Risk Metrics
Beta: 0.1869
Alpha: -8.70%
Correlation: 0.5883
R-Squared: 34.6%
Stock Volatility: 4.0%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
PHYL Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
Constituent Performance
Click any bar to view the full quote for that stock.
Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|