FNYTX vs. PDBAX
FNYTX (Franklin New York Tax Free Income Fund) and PDBAX (PGIM Total Return Bond Fund) are both mutual funds - FNYTX is a Municipal Bonds fund managed by Franklin Templeton, while PDBAX is a Intermediate Core-Plus Bond fund managed by PGIM. Over the past 10 years, FNYTX returned 1.48%/yr vs 2.11%/yr for PDBAX. Their 0.54 correlation means they have sometimes moved together and sometimes differently. FNYTX charges 0.66%/yr vs 0.76%/yr for PDBAX.
Performance
FNYTX vs. PDBAX - Performance Comparison
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Returns By Period
In the year-to-date period, FNYTX achieves a 0.57% return, which is significantly higher than PDBAX's -0.79% return. Over the past 10 years, FNYTX has underperformed PDBAX with an annualized return of 1.48%, while PDBAX has yielded a comparatively higher 2.11% annualized return.
FNYTX
- 1D
- 0.00%
- 1M
- -2.31%
- 6M
- -0.04%
- YTD
- 0.57%
- 1Y
- 5.94%
- 3Y*
- 3.72%
- 5Y*
- 0.05%
- 10Y*
- 1.48%
- ALL TIME*
- 3.89%
PDBAX
- 1D
- 0.17%
- 1M
- -1.41%
- 6M
- -0.90%
- YTD
- -0.79%
- 1Y
- 1.81%
- 3Y*
- 4.14%
- 5Y*
- -0.51%
- 10Y*
- 2.11%
- ALL TIME*
- 4.86%
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 |
FNYTX vs. PDBAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNYTX Franklin New York Tax Free Income Fund | 0.57% | 3.90% | 2.47% | 6.93% | -12.00% | 1.85% | 4.75% | 7.56% | 0.43% | 2.45% |
PDBAX PGIM Total Return Bond Fund | -0.79% | 7.50% | 1.82% | 6.51% | -14.52% | -1.77% | 7.78% | 14.71% | -0.97% | 6.30% |
Correlation
The correlation between FNYTX and PDBAX is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.59 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jan 10, 1995 | 0.54 |
The correlation between FNYTX and PDBAX shifts across timeframes, from 0.54 (10 years) to 0.65 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FNYTX vs. PDBAX — Risk / Return Rank
FNYTX
PDBAX
FNYTX vs. PDBAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin New York Tax Free Income Fund (FNYTX) and PGIM Total Return Bond Fund (PDBAX). 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.
| FNYTX | PDBAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.41 | ||
| Sortino ratioReturn per unit of downside risk | +2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.08 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 0.62 | +1.34 |
| Martin ratioReturn relative to average drawdown | 6.48 | 1.48 | +5.00 |
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Drawdowns
FNYTX vs. PDBAX - Drawdown Comparison
The maximum FNYTX drawdown since its inception was -18.90%, smaller than the maximum PDBAX drawdown of -21.24%. Use the drawdown chart below to compare losses from any high point for FNYTX and PDBAX.
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Drawdown Indicators
| FNYTX | PDBAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.90% | -21.24% | +2.34% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -3.07% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -6.10% | -5.25% | -0.85% |
Max Drawdown (5Y)Largest decline over 5 years | -17.25% | -20.85% | +3.60% |
Max Drawdown (10Y)Largest decline over 10 years | -17.45% | -21.24% | +3.79% |
Current DrawdownCurrent decline from peak | -2.31% | -2.88% | +0.57% |
Average DrawdownAverage peak-to-trough decline | -2.52% | -2.47% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 1.28% | -0.34% |
Volatility
FNYTX vs. PDBAX - Volatility Comparison
Franklin New York Tax Free Income Fund (FNYTX) and PGIM Total Return Bond Fund (PDBAX) have volatilities of 1.06% and 1.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNYTX | PDBAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.07% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.63% | 3.52% | -0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.26% | 4.20% | -0.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.67% | 6.04% | -1.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.43% | 5.36% | -0.93% |
FNYTX vs. PDBAX - Expense Ratio Comparison
FNYTX has a 0.66% expense ratio, which is lower than PDBAX's 0.76% expense ratio.
Dividends
FNYTX vs. PDBAX - Dividend Comparison
FNYTX's dividend yield for the trailing twelve months is around 3.30%, less than PDBAX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNYTX Franklin New York Tax Free Income Fund | 3.30% | 4.57% | 3.85% | 2.78% | 2.84% | 2.45% | 2.64% | 3.41% | 3.38% | 3.43% | 3.63% | 3.60% |
PDBAX PGIM Total Return Bond Fund | 3.98% | 4.27% | 3.76% | 3.55% | 5.49% | 2.47% | 2.68% | 10.32% | 3.74% | 2.60% | 3.65% | 2.94% |
Frequently Asked Questions
FNYTX and PDBAX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBAX has higher volatility (1.07%) compared to FNYTX (1.06%). In terms of maximum drawdown, FNYTX dropped -18.90% vs PDBAX's -21.24%.
FNYTX currently has the higher Sharpe Ratio (1.87 vs 0.45), 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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