DFLEX vs. PADZX
DFLEX (DoubleLine Flexible Income Fund) and PADZX (PGIM Absolute Return Bond Fund) are both Nontraditional Bonds funds. Over the past 10 years, DFLEX returned 3.60%/yr vs 4.13%/yr for PADZX. Their 0.19 correlation means their historical movements had little consistent relationship. DFLEX charges 0.74%/yr vs 0.72%/yr for PADZX.
Performance
DFLEX vs. PADZX - Performance Comparison
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Returns By Period
In the year-to-date period, DFLEX achieves a 1.97% return, which is significantly lower than PADZX's 2.45% return. Over the past 10 years, DFLEX has underperformed PADZX with an annualized return of 3.60%, while PADZX has yielded a comparatively higher 4.13% annualized return.
DFLEX
- 1D
- 0.12%
- 1M
- 0.12%
- 6M
- 1.43%
- YTD
- 1.97%
- 1Y
- 4.43%
- 3Y*
- 7.23%
- 5Y*
- 3.12%
- 10Y*
- 3.60%
- ALL TIME*
- 3.49%
PADZX
- 1D
- 0.22%
- 1M
- -0.22%
- 6M
- 1.81%
- YTD
- 2.45%
- 1Y
- 4.84%
- 3Y*
- 5.80%
- 5Y*
- 3.88%
- 10Y*
- 4.13%
- ALL TIME*
- 3.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
DFLEX vs. PADZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFLEX DoubleLine Flexible Income Fund | 1.97% | 6.58% | 8.65% | 7.84% | -8.48% | 3.79% | 2.93% | 7.21% | 0.10% | 5.27% |
PADZX PGIM Absolute Return Bond Fund | 2.45% | 5.10% | 7.48% | 6.11% | -1.55% | 1.87% | 0.59% | 11.10% | 0.71% | 6.67% |
Correlation
The correlation between DFLEX and PADZX is 0.27, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.27 |
Correlation (3Y) Balances recent behavior with more history. | 0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2014 | 0.19 |
The correlation between DFLEX and PADZX shifts across timeframes, from -0.00 (5 years) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DFLEX vs. PADZX — Risk / Return Rank
DFLEX
PADZX
DFLEX vs. PADZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Flexible Income Fund (DFLEX) and PGIM Absolute Return Bond Fund (PADZX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DFLEX | PADZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.92 | 2.32 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 5.16 | 6.14 | -0.99 |
| Martin ratioReturn relative to average drawdown | 22.72 | 17.77 | +4.95 |
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Drawdowns
DFLEX vs. PADZX - Drawdown Comparison
The maximum DFLEX drawdown since its inception was -17.29%, roughly equal to the maximum PADZX drawdown of -17.99%. Use the drawdown chart below to compare losses from any high point for DFLEX and PADZX.
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Drawdown Indicators
| DFLEX | PADZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.29% | -17.99% | +0.70% |
Max Drawdown (1Y)Largest decline over 1 year | -0.91% | -0.86% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -1.15% | -0.98% | -0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -11.00% | -4.05% | -6.95% |
Max Drawdown (10Y)Largest decline over 10 years | -17.29% | -17.99% | +0.70% |
Current DrawdownCurrent decline from peak | 0.00% | -0.60% | +0.60% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -0.95% | -0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.30% | -0.09% |
Volatility
DFLEX vs. PADZX - Volatility Comparison
The current volatility for DoubleLine Flexible Income Fund (DFLEX) is 0.39%, while PGIM Absolute Return Bond Fund (PADZX) has a volatility of 0.43%. This indicates that DFLEX experiences smaller price fluctuations and is considered to be less risky than PADZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFLEX | PADZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | 0.43% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.11% | 1.80% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.39% | 2.12% | -0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.94% | 2.16% | -0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.73% | 3.14% | -0.41% |
DFLEX vs. PADZX - Expense Ratio Comparison
DFLEX has a 0.74% expense ratio, which is higher than PADZX's 0.72% expense ratio.
Dividends
DFLEX vs. PADZX - Dividend Comparison
DFLEX's dividend yield for the trailing twelve months is around 5.05%, more than PADZX's 4.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFLEX DoubleLine Flexible Income Fund | 5.05% | 5.68% | 6.05% | 5.95% | 4.72% | 3.86% | 3.96% | 4.46% | 4.46% | 3.82% | 3.75% | 4.32% |
PADZX PGIM Absolute Return Bond Fund | 4.61% | 5.07% | 5.18% | 4.09% | 2.89% | 2.40% | 3.41% | 10.79% | 5.02% | 2.75% | 2.36% | 2.38% |
Frequently Asked Questions
DFLEX and PADZX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PADZX has higher volatility (0.43%) compared to DFLEX (0.39%). In terms of maximum drawdown, DFLEX dropped -17.29% vs PADZX's -17.99%.
DFLEX currently has the higher Sharpe Ratio (3.37 vs 2.50), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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