EIBAX vs. PDBZX
EIBAX (Eaton Vance Total Return Bond Fund) and PDBZX (PGIM Total Return Bond Fund Class Z) are both Intermediate Core-Plus Bond funds. Over the past 10 years, EIBAX returned 3.51%/yr vs 2.79%/yr for PDBZX. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.49% expense ratio.
Performance
EIBAX vs. PDBZX - Performance Comparison
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Returns By Period
In the year-to-date period, EIBAX achieves a 0.23% return, which is significantly lower than PDBZX's 0.38% return. Over the past 10 years, EIBAX has outperformed PDBZX with an annualized return of 3.51%, while PDBZX has yielded a comparatively lower 2.79% annualized return.
EIBAX
- 1D
- -0.29%
- 1M
- 0.80%
- YTD
- 0.23%
- 6M
- 0.80%
- 1Y
- 5.33%
- 3Y*
- 5.86%
- 5Y*
- 1.22%
- 10Y*
- 3.51%
PDBZX
- 1D
- -0.33%
- 1M
- 0.74%
- YTD
- 0.38%
- 6M
- 0.85%
- 1Y
- 5.00%
- 3Y*
- 5.19%
- 5Y*
- 0.67%
- 10Y*
- 2.79%
EIBAX vs. PDBZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIBAX Eaton Vance Total Return Bond Fund | 0.23% | 9.15% | 4.38% | 5.59% | -12.88% | 3.02% | 5.89% | 10.84% | -0.84% | 7.72% |
PDBZX PGIM Total Return Bond Fund Class Z | 0.38% | 7.70% | 2.87% | 7.70% | -14.33% | -1.46% | 8.01% | 14.76% | -0.72% | 6.60% |
Correlation
The correlation between EIBAX and PDBZX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2009 | 0.78 |
The correlation between EIBAX and PDBZX shifts across timeframes, from 0.78 (all time) to 0.96 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
EIBAX vs. PDBZX — Risk / Return Rank
EIBAX
PDBZX
EIBAX vs. PDBZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Total Return Bond Fund (EIBAX) and PGIM Total Return Bond Fund Class Z (PDBZX). 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.
| EIBAX | PDBZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.23 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 1.76 | -0.06 |
| Martin ratioReturn relative to average drawdown | 5.02 | 4.96 | +0.06 |
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Drawdowns
EIBAX vs. PDBZX - Drawdown Comparison
The maximum EIBAX drawdown since its inception was -17.20%, smaller than the maximum PDBZX drawdown of -20.88%. Use the drawdown chart below to compare losses from any high point for EIBAX and PDBZX.
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Drawdown Indicators
| EIBAX | PDBZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.20% | -20.88% | +3.68% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -3.00% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -5.65% | -5.51% | -0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -16.91% | -20.81% | +3.90% |
Max Drawdown (10Y)Largest decline over 10 years | -17.20% | -20.88% | +3.68% |
Current DrawdownCurrent decline from peak | -1.69% | -1.62% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -3.50% | -2.30% | -1.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 1.06% | +0.04% |
Volatility
EIBAX vs. PDBZX - Volatility Comparison
The current volatility for Eaton Vance Total Return Bond Fund (EIBAX) is 1.24%, while PGIM Total Return Bond Fund Class Z (PDBZX) has a volatility of 1.93%. This indicates that EIBAX experiences smaller price fluctuations and is considered to be less risky than PDBZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIBAX | PDBZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.93% | -0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 3.16% | 3.36% | -0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 4.31% | -0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.33% | 6.05% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.70% | 5.38% | -0.68% |
EIBAX vs. PDBZX - Expense Ratio Comparison
Both EIBAX and PDBZX have an expense ratio of 0.49%.
Dividends
EIBAX vs. PDBZX - Dividend Comparison
EIBAX's dividend yield for the trailing twelve months is around 5.15%, more than PDBZX's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIBAX Eaton Vance Total Return Bond Fund | 5.15% | 5.13% | 5.58% | 4.01% | 4.04% | 3.49% | 3.87% | 3.97% | 4.16% | 3.55% | 3.90% | 5.69% |
PDBZX PGIM Total Return Bond Fund Class Z | 4.58% | 4.54% | 4.79% | 4.60% | 5.73% | 2.73% | 2.94% | 10.36% | 4.01% | 2.87% | 3.92% | 3.33% |
Frequently Asked Questions
With a correlation of 0.96, EIBAX and PDBZX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PDBZX has higher volatility (1.93%) compared to EIBAX (1.24%). In terms of maximum drawdown, EIBAX dropped -17.20% vs PDBZX's -20.88%.
EIBAX currently has the higher Sharpe Ratio (1.38 vs 1.23), 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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