PGIM Launches Two New Core Equity ETFs

PGIM adds two Jennison-subadvised core equity ETFs, offering active small-mid cap and international exposure at relatively low stated expense ratios.

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Funds provide diversified core equity market exposure to small- and medium-capitalization and international companies

NEWARK, N.J.--(BUSINESS WIRE)-- PGIM, the $1.5 trillion¹ global asset management business of Prudential Financial, Inc. (NYSE: PRU), has launched two new core equity exchange-traded funds (ETFs), the PGIM Jennison Small-Mid Cap Core Equity ETF (PJSM) and the PGIM Jennison International Core Equity ETF (PJIN).

“The strategies are designed to serve as diversified portfolio building blocks, offering investors actively managed, core equity market exposure through fund structures that are accessible, transparent, and competitively priced.” --Stuart Parker, Head of Global Wealth, PGIM

Both ETFs are subadvised by Jennison, an investment group within PGIM that specializes in a range of fundamental active equity and fixed income investment strategies.

“The launches further advance PGIM’s previously announced effort to organize its equity ETF lineup around core and focused investment solutions, providing investors with a clearer and more consistent framework for portfolio construction,” said Stuart Parker, head of Global Wealth, PGIM. “The ETFs are designed to serve as diversified portfolio building blocks, offering investors actively managed, core equity market exposure through fund structures that are accessible, transparent, and competitively priced.”

Under normal market conditions, the PGIM Jennison Small-Mid Cap Core Equity ETF invests at least 80% of its investable assets in equity and equity-related securities of small- and medium-capitalization companies. Jennison considers small- and medium-capitalization companies to be those with market capitalizations less than the largest market capitalization found in the Russell 2500 Index. It is listed on NYSE Arca, Inc. and offered at a 0.29% net expense ratio.

The PGIM Jennison International Core Equity ETF invests primarily in issuers that are non-U.S. companies located in countries outside of the United States or having their primary economic exposure outside of the United States, including non-U.S. issuers located in emerging markets. The ETF is listed on NYSE Arca, Inc. and offered at a 0.23% net expense ratio.

Both funds draw on the insights of Jennison’s fundamental investment team to employ disciplined, risk-managed portfolio construction frameworks that seek to balance active stock selection with portfolio risk management.

“Core equity investing is often viewed as a choice between active conviction and benchmark discipline, but the reality is that investors don’t have to sacrifice one for the other,” said Ken Moore, head of Jennison. “We draw on decades of bottom-up, fundamental research experience and a global opportunity set to identify opportunities that may be overlooked by purely index-based approaches.”

Founded in 1969, Jennison manages $213 billion in client assets¹ across a range of equity and fixed income investment strategies. Original fundamental research, specialized investment teams, strong client focus, and highly experienced investment professionals are among the firm’s competitive distinctions.

PGIM is the 12th-largest active ETF provider² with $33 billion in assets under management. ¹ Learn more about PGIM’s growing lineup of actively managed ETFs at pgim.com.

ABOUT PGIM
PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), with $1.5 trillion in assets under management.¹ PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions — including fixed income, equities, real estate, and alternatives. With 1,500+ investment professionals across 40 offices in 20 countries, we serve retail and institutional clients worldwide. For more information visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

1 As of June 30, 2026. Assets are rounded to the nearest full number.

2 Source: Morningstar Direct as of June 30, 2026.

Jennison Associates is a registered investment advisor under the U.S. Investment Advisers Act of 1940, as amended, and a Prudential Financial company. Registration as a registered investment advisor does not imply a certain level or skill or training.

Jennison Associates LLC has not been licensed or registered to provide investment services in any jurisdiction outside the United States. Certain investment vehicles are distributed or offered through Prudential Investment Management Services LLC (also a Prudential Financial company) or other affiliated entities. Additionally, vehicles may not be registered or available for investment in all jurisdictions. Please visit jennison.com/important-disclosures for important information, including information on non-U.S. jurisdictions.

Jennison Small-Mid Cap Core Equity ETF Risk Disclosure:

As an actively managed exchange-traded fund (ETF), risks of investing in the Fund include but are not limited to the following: The Fund is subject to authorized participant concentration risk and the risks of transacting in cash versus in-kind. ETFs may trade at a premium or discount to net asset value and may lack an active trading market. Additional costs may be incurred when transacting through a broker. Equity and equity-related securities may be subject to changes in value, and their values may be more volatile than those of other asset classes. The Fund’s blend investment style may subject the Fund to the risks of both value and growth investing. Small- and mid-cap investments may be subject to more erratic market movements than large-cap stocks. Foreign securities are subject to currency fluctuations and political uncertainty. The Fund uses quantitative models. Securities or other investments selected using quantitative models may perform differently from the market or from expected performance. There is no assurance that these methodologies will produce the desired results or enable the Fund to meet its objective. The Fund has a limited operating history, and investment positions may have a disproportionate impact on performance. There is no guarantee the Fund’s objective will be achieved. Risks are more fully explained in the Fund’s prospectus.

Jennison International Core Equity ETF Risk Disclosure:

As an actively managed exchange-traded fund (ETF), risks of investing in the Fund include but are not limited to the following: The Fund is subject to authorized participant concentration risk and the risks of transacting in cash versus in-kind. ETFs may trade at a premium or discount to net asset value and may lack an active trading market. Additional costs may be incurred when transacting through a broker. The Fund may invest in companies of any market capitalization. Small- and mid-cap stocks generally are more volatile and can carry greater risk than large-cap stocks. Large-cap stocks may also fall out of favor, causing the Fund to underperform investments focused on smaller-cap companies. Equity and equity-related securities may be subject to changes in value, and their values may be more volatile than those of other asset classes. The Fund’s blend investment style may subject the Fund to the risks of both value and growth investing. Foreign securities are subject to currency fluctuations and political uncertainty. Emerging market investments are subject to greater volatility and price declines. Investments in China subject the Fund to risks specific to China and may make it more volatile than other funds. Geographic concentration may cause the Fund’s performance to be closely tied to market, economic, political, regulatory, or other conditions in the countries or regions in which the Fund invests. The Fund uses quantitative models. Securities or other investments selected using quantitative models may perform differently from the market or from expected performance. There is no assurance that these methodologies will produce the desired results or enable the Fund to meet its objective. Real estate investment trusts (REITS) may use leverage, increasing risk. REIT performance depends on many factors including real estate market conditions, REIT management, and property management. The Fund has a limited operating history, and investment positions may have a disproportionate impact on performance. Investments in currency may result in a decline in the Fund’s net asset value due to changes in exchange rates. There is no guarantee the Fund’s objective will be achieved. Risks are more fully explained in the Fund’s prospectus.

Consider a fund’s investment objectives, risks, charges, and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. Contact your financial professional for a prospectus and summary prospectus. Read them carefully before investing.

Investment products are distributed by Prudential Investment Management Services LLC, member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies. Jennison Associates (Jennison) is a registered investment advisor. All are Prudential Financial affiliates. PGIM is the principal asset management business of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its global subsidiaries and affiliates. © 2026 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, Jennison Associates, Jennison, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact their financial professional.

INVESTMENT PRODUCTS | Are not insured by the FDIC or any federal government agency | May lose value | Are not a deposit of or guaranteed by any bank or any bank affiliate

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View source version on businesswire.com: https://www.businesswire.com/news/home/20260904759059/en/

MEDIA CONTACT:
PGIM
Travis Fishstein
+1 973-382-6093
travis.fishstein@pgim.com

Source: Prudential Financial, Inc.