A Junk Bond Fund Built For This Environment, But There Are A Lot Of Risks Within

The PGIM Global High Yield Fund (GHY) is a global high-yield bond fund that includes emerging markets debt. The fund uses a moderate amount of leverage (around 15%), which is seen as a positive. The inclusion of emerging markets is also viewed favorably, especially with a falling dollar. However, the fund's broad diversification could potentially hinder performance if some markets underperform. The expense ratio is high, which is a concern.