FPNIX vs. SDMZX
Compare and contrast key facts about FPA New Income Fund (FPNIX) and PGIM Short Duration Multi-Sector Bond Fund (SDMZX).
FPNIX is managed by FPA. It was launched on Jul 11, 1984. SDMZX is managed by PGIM. It was launched on Dec 23, 2013.
Performance
FPNIX vs. SDMZX - Performance Comparison
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FPNIX vs. SDMZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPNIX FPA New Income Fund | -0.16% | 6.71% | 4.58% | 6.78% | -3.10% | 0.84% | 2.51% | 3.81% | 2.30% | 2.67% |
SDMZX PGIM Short Duration Multi-Sector Bond Fund | -0.26% | 6.18% | 5.64% | 6.25% | -4.82% | -0.19% | 3.97% | 7.92% | 0.95% | 3.96% |
Returns By Period
In the year-to-date period, FPNIX achieves a -0.16% return, which is significantly higher than SDMZX's -0.26% return. Over the past 10 years, FPNIX has underperformed SDMZX with an annualized return of 2.86%, while SDMZX has yielded a comparatively higher 3.13% annualized return.
FPNIX
- 1D
- 0.30%
- 1M
- -1.48%
- YTD
- -0.16%
- 6M
- 0.98%
- 1Y
- 4.49%
- 3Y*
- 5.26%
- 5Y*
- 2.98%
- 10Y*
- 2.86%
SDMZX
- 1D
- 0.11%
- 1M
- -1.22%
- YTD
- -0.26%
- 6M
- 1.04%
- 1Y
- 4.25%
- 3Y*
- 5.41%
- 5Y*
- 2.69%
- 10Y*
- 3.13%
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FPNIX vs. SDMZX - Expense Ratio Comparison
FPNIX has a 0.45% expense ratio, which is lower than SDMZX's 0.46% expense ratio.
Return for Risk
FPNIX vs. SDMZX — Risk / Return Rank
FPNIX
SDMZX
FPNIX vs. SDMZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FPA New Income Fund (FPNIX) and PGIM Short Duration Multi-Sector Bond Fund (SDMZX). 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.
| FPNIX | SDMZX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.74 | 2.21 | -0.47 |
Sortino ratioReturn per unit of downside risk | 2.59 | 3.89 | -1.30 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.54 | -0.19 |
Calmar ratioReturn relative to maximum drawdown | 2.49 | 3.30 | -0.81 |
Martin ratioReturn relative to average drawdown | 11.01 | 13.64 | -2.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FPNIX | SDMZX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.74 | 2.21 | -0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.24 | 1.17 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.52 | 1.28 | +0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.02 | 1.22 | -0.20 |
Correlation
The correlation between FPNIX and SDMZX is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FPNIX vs. SDMZX - Dividend Comparison
FPNIX's dividend yield for the trailing twelve months is around 3.81%, less than SDMZX's 4.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPNIX FPA New Income Fund | 3.81% | 3.36% | 4.39% | 3.37% | 2.13% | 1.24% | 2.17% | 2.63% | 3.10% | 2.84% | 2.31% | 1.87% |
SDMZX PGIM Short Duration Multi-Sector Bond Fund | 4.30% | 4.62% | 4.57% | 3.36% | 4.70% | 2.76% | 3.10% | 6.18% | 3.47% | 2.64% | 2.76% | 3.34% |
Drawdowns
FPNIX vs. SDMZX - Drawdown Comparison
The maximum FPNIX drawdown since its inception was -22.95%, which is greater than SDMZX's maximum drawdown of -9.76%. Use the drawdown chart below to compare losses from any high point for FPNIX and SDMZX.
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Drawdown Indicators
| FPNIX | SDMZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.95% | -9.76% | -13.19% |
Max Drawdown (1Y)Largest decline over 1 year | -1.97% | -1.44% | -0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -4.67% | -8.51% | +3.84% |
Max Drawdown (10Y)Largest decline over 10 years | -4.67% | -9.76% | +5.09% |
Current DrawdownCurrent decline from peak | -1.48% | -1.22% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -1.00% | -0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.35% | +0.10% |
Volatility
FPNIX vs. SDMZX - Volatility Comparison
FPA New Income Fund (FPNIX) has a higher volatility of 1.10% compared to PGIM Short Duration Multi-Sector Bond Fund (SDMZX) at 0.70%. This indicates that FPNIX's price experiences larger fluctuations and is considered to be riskier than SDMZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPNIX | SDMZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.70% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 1.64% | 1.40% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.66% | 2.12% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.41% | 2.30% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.88% | 2.46% | -0.58% |