PGIM Investments expanded its ETF platform on Thursday, launching its second actively managed ETF, the PGIM Active High Yield Bond ETF (NYSEArca: PHYL).

PGIM Investments’ first ETF, the PGIM Ultra Short Bond ETF (NYSEArca: PULS), was launched in April and has more than doubled in size, growing to $51 million as of Aug. 31, 2018.

Just like PULS, PHYL is also actively managed by sub-adviser PGIM Fixed Income and is attractively priced. PHYL is priced at 0.53 percent, 14 basis points below the average active high yield ETF, according to Morningstar as of Aug. 31, 2018. The Fund invests primarily in high yield bonds and seeks to generate total return through a combination of current income and capital appreciation.

Stuart Parker, president and CEO of PGIM Investments aid when it comes to ETFs, said its focus is on developing competitive products that align with our core investment capabilities.