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PGIM Global Total Return (USD Hedged) Fund (PHEZX) Sharpe Ratio: 1.36

Mutual Fund · Currency in USD · Last updated Jun 5, 2026

The investment seeks total return, through a combination of current income and capital appreciation. The fund may invest in countries anywhere in the world, and normally invests at least 65% of its total assets in income-producing debt securities of U.S. and foreign corporations and governments, supranational organizations, semi-governmental entities or government agencies, authorities or instrumentalities, investment-grade-rated U.S. or foreign mortgages and mortgage-related securities, asset backed securities, and U.S. or foreign short-term and long-term bank debt securities or bank deposits.

PHEZX's Sharpe Ratio of 1.36 indicates that for each unit of volatility, it generates 1.36 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 5, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets.

PHEZX Sharpe Ratio Rank

PHEZX Sharpe Ratio Rank: 24.525
Below Average

PHEZX ranks above 24.5% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating below-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Returns may not adequately compensate for volatility taken
  • Consider smaller allocation given below-average risk-adjusted profile
  • Explore higher-ranked investments with better consistency
  • Assess whether the volatility profile aligns with your portfolio goals

PHEZX Sharpe Ratio Market Positioning

The chart shows PHEZX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.37 or lower
  • Yellow zone (middle 50%): 1.37 to 2.45
  • Green zone (top 25%): 2.45 or higher
  • Top 1%: 4.61+
  • Median: 2.01 — half of all investments score higher

How it compares to other similar mutual funds

The table compares PGIM Global Total Return (USD Hedged) Fund's Sharpe Ratio with other mutual funds in the Global Bonds category across multiple time periods, showing how PHEZX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 5, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
DGFFXDestinations Global Fixed Income Opportunities Fund3.89
EAIIXEaton Vance Global Bond Fund3.16
DFSHXDFA Selectively Hedged Global Fixed Income Portfolio2.72
PRSNXT. Rowe Price Global Multi-Sector Bond Fund2.69
PYGSXPayden Global Low Duration Fund2.66
SAXIXSA Global Fixed Income Fund2.08
SEBFXSaturna Sustainable Bond Fund1.98
HFADXJanus Henderson Developed World Bond Fund Class D1.97
DAIOXDunham International Opportunity Bond Fund1.95
HFAAXJanus Henderson Developed World Bond Fund1.92
PHEZXPGIM Global Total Return (USD Hedged) Fund1.36

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows PHEZX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when PHEZX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does PHEZX fit in your portfolio?

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