Pledge has the liberty to change their formula, but for the most part it has been light distillates and short chain silicone oil, a very small amount (+ any other proprietary stuff, usually in small amounts). The silicone oil can help with releasing mud and reduce water wetting on parts, but silicone oil in general is a dust magnet--don't put too much if you are concerned with this. If you are really concerned about cleaning up mud, tire wet products are generally the same split, but a bit more silicone oil. Once you go that far though, you could just buy a quick spray wax so that it's static-free (no dust attraction).
I looked quite a bit at this last year; PM me if you want some easy solutions and ideas