PGIM Jennison International Opportunities ETF (PJIO US) – Portfolio Construction Methodology

The investment strategy steering the actively managed PGIM Jennison International Opportunities ETF targets long-term capital growth by investing a majority of net assets in non-U.S. equities across developed and emerging markets, with flexibility to allocate meaningfully to single countries or regions; the fund is non-diversified and may exhibit concentrated sector or geographic exposures. Research seeks companies in the early stages of accelerating growth featuring sustainable competitive advantages, capable execution, and appropriate valuations. The investable toolkit includes common and preferred stocks, convertibles, ADRs and ADSs, P-notes and similar structured receipts, REITs, and IPOs, improving access and liquidity across markets. Portfolio construction combines fundamental convictions with a systematic optimizer that governs aggregate factor risks, liquidity, and consistency with the mandate while maintaining a focused lineup. Trim and sell decisions follow adverse fundamental changes, governance or management concerns, or opportunity cost when higher-conviction ideas emerge, with ongoing rebalancing to reflect evolving relative value and risk.

To explore PJIO in more depth, visit our ETF analytics platform for institutional-grade insights — including performance and risk metrics, correlations, sensitivities, and factor exposure: https://www.etfstrategy.com/etf/PJIO_US