PGIM Absolute Return Bond Fund (PADZX) belongs to the Nontraditional Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with PADZX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PADZX
PADZX charges 0.72% annually. There are 16 mutual funds in the Nontraditional Bonds category with lower expense ratios, going as low as 0.47%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Putnam Mortgage Opportunities Fund | 0.47% | — | Apr 2015 | PADZX vs PMOTX | |
| GMO Opportunistic Income Fund | 0.47% | — | Oct 2011 | PADZX vs GMODX | |
| Carillon Reams Unconstrained Bond Fund | 0.50% | — | Sep 2011 | PADZX vs SUBFX | |
| FPA Flexible Fixed Income Fund | 0.51% | — | Dec 2018 | PADZX vs FPFIX | |
| PIMCO Strategic Bond Fund | 0.51% | — | Jan 2009 | PADZX vs PUTIX |
Best Risk-Adjusted Alternatives to PADZX
PADZX has a PortfoliosLab risk / return rank of 96. There are 7 mutual funds in the Nontraditional Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Victory Pioneer Cat Bond Fund Class Y | 100 | — | Jan 2023 | PADZX vs CBYYX | |
| PGIM Securitized Credit Fund | 99 | — | Jun 2019 | PADZX vs SCFZX | |
| Eaton Vance Global Macro Absolute Return Fund | 99 | — | Jun 2007 | PADZX vs EIGMX | |
| Artisan Global Unconstrained Fund | 99 | — | Mar 2022 | PADZX vs APFPX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 98 | — | Aug 2010 | PADZX vs EGRIX |
Top Performing PADZX Alternatives (YTD)
PADZX is at 2.29% YTD. There are 9 mutual funds in the Nontraditional Bonds category with higher YTD returns, going as high as 7.87%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Eaton Vance Global Macro Absolute Return Advantage... | 7.87% | — | Aug 2010 | PADZX vs EGRIX | |
| Putnam Mortgage Opportunities Fund | 5.26% | — | Apr 2015 | PADZX vs PMOTX | |
| Eaton Vance Global Macro Absolute Return Fund | 4.96% | — | Jun 2007 | PADZX vs EIGMX | |
| Artisan Global Unconstrained Fund | 4.18% | — | Mar 2022 | PADZX vs APFPX | |
| T. Rowe Price Dynamic Global Bond Fund | 3.29% | — | Jan 2015 | PADZX vs RPIEX |
Lowest Volatility Alternatives to PADZX
PADZX has 2.11% 1-year volatility. There are 14 mutual funds in the Nontraditional Bonds category with lower 1-year volatility, going as low as 1.01%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Dunham Long/Short Credit Fund | 1.01% | — | Dec 2004 | PADZX vs DCAIX | |
| Victory Pioneer Cat Bond Fund Class Y | 1.22% | — | Jan 2023 | PADZX vs CBYYX | |
| GMO Opportunistic Income Fund | 1.33% | — | Oct 2011 | PADZX vs GMODX | |
| DoubleLine Flexible Income Fund | 1.37% | — | Apr 2014 | PADZX vs DFLEX | |
| BlackRock Global Long/Short Credit Fund | 1.38% | — | Sep 2011 | PADZX vs BGCIX |
Lowest Drawdown Alternatives to PADZX
PADZX has a 1-year max drawdown of -0.86%. There are 4 mutual funds in the Nontraditional Bonds category with shallower 1-year drawdowns, going as shallow as -0.09%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Victory Pioneer Cat Bond Fund Class Y | -0.09% | — | Jan 2023 | PADZX vs CBYYX | |
| PGIM Securitized Credit Fund | -0.31% | — | Jun 2019 | PADZX vs SCFZX | |
| Dunham Long/Short Credit Fund | -0.37% | — | Dec 2004 | PADZX vs DCAIX | |
| GMO Opportunistic Income Fund | -0.65% | — | Oct 2011 | PADZX vs GMODX | |
| Toews Unconstrained Income Fund | -0.87% | — | Aug 2013 | PADZX vs TUIFX |
Other Mutual Funds from PGIM
The 10 most viewed PGIM mutual funds shown here include PJFAX, PHYQX, PTRQX and span 7 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| PGIM Jennison Growth Fund | Large Cap Growth Equities | 12 | 4.02% | — | Nov 1995 | PADZX vs PJFAX | |
| PGIM High Yield Fund Class R6 | High Yield Bonds | 69 | 1.64% | — | Oct 2011 | PADZX vs PHYQX | |
| PGIM Total Return Bond R6 | Intermediate Core-Plus Bond | 24 | 0.43% | — | Dec 2010 | PADZX vs PTRQX | |
| PGIM Short Duration Multi-Sector Bond Fund | Short-Term Bond | 50 | 0.81% | — | Dec 2013 | PADZX vs SDMZX | |
| PGIM Total Return Bond Fund Class Z | Intermediate Core-Plus Bond | 23 | 0.38% | — | Jan 1997 | PADZX vs PDBZX | |
| PGIM Floating Rate Income Fund | Bank Loan | 96 | 2.29% | — | Mar 2011 | PADZX vs FRFZX | |
| PGIM Short Duration High Yield Income Fund | High Yield Bonds | 68 | 1.37% | — | Oct 2012 | PADZX vs HYSZX | |
| PGIM 60/40 Allocation Fund | Diversified Portfolio | 81 | 7.25% | — | Sep 2017 | PADZX vs PALDX | |
| PGIM High Yield Fund | High Yield Bonds | 65 | 1.48% | — | Jan 1990 | PADZX vs PBHAX | |
| PGIM Jennison International Opportunities Fund | Foreign Large Cap Equities | 17 | 19.37% | — | Jun 2012 | PADZX vs PWJZX |
Often Compared With PADZX
Investors most often compare PADZX with GIOIX, GSY, SDVY. These 20 comparison targets span 6 categories, based on PortfoliosLab usage data.
Compare PADZX with Any Fund or Stock
Compare PADZX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PADZX with funds that move differently
PGIM Absolute Return Bond Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PADZX.
Explore PADZX Diversifiers