PGIM Expands Core Equity ETF Lineup with Two New Actively Managed Funds
Event summary
- PGIM, Prudential Financial's asset management arm, launched two new core equity ETFs: PGIM Jennison Small-Mid Cap Core Equity ETF (PJSM) and PGIM Jennison International Core Equity ETF (PJIN).
- Both ETFs are subadvised by Jennison, with PJSM focusing on small- and mid-cap U.S. equities and PJIN on non-U.S. international equities.
- The funds have net expense ratios of 0.29% and 0.23%, respectively, and are listed on NYSE Arca.
- PGIM now manages $33 billion in ETF assets, ranking it as the 12th-largest active ETF provider as of June 30, 2026.
The big picture
PGIM's launch of two new core equity ETFs aligns with the broader industry trend of asset managers expanding their actively managed ETF offerings to cater to investors seeking diversified, cost-effective portfolio solutions. With $1.5 trillion in assets under management, PGIM is positioning itself to compete more aggressively in the ETF space, particularly as active management gains traction amid market volatility. The strategic focus on core equity solutions reflects a shift towards providing investors with clear, transparent, and competitively priced investment options.
What we're watching
- Competitive Positioning
- Whether PGIM can differentiate its actively managed ETFs in a crowded market dominated by passive strategies.
- Fund Performance
- How the new ETFs will perform relative to their benchmarks and peer funds.
- Market Adoption
- The pace at which investors adopt these core equity ETFs as portfolio building blocks.