GHY vs. SDMZX
GHY (PGIM Global High Yield Fund) and SDMZX (PGIM Short Duration Multi-Sector Bond Fund) are both mutual funds - GHY is a High Yield Bonds fund managed by PGIM, while SDMZX is a Short-Term Bond fund managed by PGIM. Over the past 10 years, GHY returned 6.89%/yr vs 3.10%/yr for SDMZX. At a 0.20 correlation, their price movements are largely independent. GHY charges 0.03%/yr vs 0.46%/yr for SDMZX.
Performance
GHY vs. SDMZX - Performance Comparison
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Returns By Period
In the year-to-date period, GHY achieves a -1.06% return, which is significantly lower than SDMZX's 0.81% return. Over the past 10 years, GHY has outperformed SDMZX with an annualized return of 6.89%, while SDMZX has yielded a comparatively lower 3.10% annualized return.
GHY
- 1D
- -0.85%
- 1M
- -1.22%
- YTD
- -1.06%
- 6M
- -0.94%
- 1Y
- -2.19%
- 3Y*
- 13.14%
- 5Y*
- 4.67%
- 10Y*
- 6.89%
SDMZX
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 0.81%
- 6M
- 1.22%
- 1Y
- 4.32%
- 3Y*
- 5.76%
- 5Y*
- 2.76%
- 10Y*
- 3.10%
GHY vs. SDMZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GHY PGIM Global High Yield Fund | -1.06% | 10.46% | 20.25% | 17.29% | -20.04% | 12.73% | 6.33% | 26.51% | -3.54% | 4.38% |
SDMZX PGIM Short Duration Multi-Sector Bond Fund | 0.81% | 6.18% | 5.64% | 6.25% | -4.82% | -0.19% | 3.97% | 7.92% | 0.95% | 3.96% |
Correlation
The correlation between GHY and SDMZX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.20 |
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Return for Risk
GHY vs. SDMZX — Risk / Return Rank
GHY
SDMZX
GHY vs. SDMZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Global High Yield Fund (GHY) 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.
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.
| GHY | SDMZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.62 | ||
| Sortino ratioReturn per unit of downside risk | -2.57 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.45 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 2.52 | -2.71 |
| Martin ratioReturn relative to average drawdown | -0.45 | 8.64 | -9.09 |
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Drawdowns
GHY vs. SDMZX - Drawdown Comparison
The maximum GHY drawdown since its inception was -41.35%, which is greater than SDMZX's maximum drawdown of -9.76%. Use the drawdown chart below to compare losses from any high point for GHY and SDMZX.
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Drawdown Indicators
| GHY | SDMZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.35% | -9.76% | -31.59% |
Max Drawdown (1Y)Largest decline over 1 year | -11.94% | -1.77% | -10.17% |
Max Drawdown (3Y)Largest decline over 3 years | -16.36% | -1.77% | -14.59% |
Max Drawdown (5Y)Largest decline over 5 years | -29.50% | -8.51% | -20.99% |
Max Drawdown (10Y)Largest decline over 10 years | -41.35% | -9.76% | -31.59% |
Current DrawdownCurrent decline from peak | -6.19% | -1.77% | -4.42% |
Average DrawdownAverage peak-to-trough decline | -6.02% | -0.99% | -5.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.89% | 0.52% | +4.37% |
Volatility
GHY vs. SDMZX - Volatility Comparison
PGIM Global High Yield Fund (GHY) has a higher volatility of 3.13% compared to PGIM Short Duration Multi-Sector Bond Fund (SDMZX) at 2.49%. This indicates that GHY'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
| GHY | SDMZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 2.49% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 8.32% | 2.83% | +5.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.80% | 3.15% | +7.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.26% | 2.56% | +11.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.34% | 2.58% | +12.76% |
GHY vs. SDMZX - Expense Ratio Comparison
GHY has a 0.03% expense ratio, which is lower than SDMZX's 0.46% expense ratio.
Dividends
GHY vs. SDMZX - Dividend Comparison
GHY's dividend yield for the trailing twelve months is around 10.78%, more than SDMZX's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHY PGIM Global High Yield Fund | 10.78% | 10.21% | 10.23% | 11.09% | 11.62% | 8.35% | 8.67% | 8.04% | 7.72% | 7.77% | 8.53% | 10.07% |
SDMZX PGIM Short Duration Multi-Sector Bond Fund | 4.71% | 4.62% | 4.57% | 3.36% | 4.70% | 2.76% | 3.10% | 6.18% | 3.47% | 2.64% | 2.76% | 3.34% |
Frequently Asked Questions
GHY and SDMZX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GHY has higher volatility (3.13%) compared to SDMZX (2.49%). In terms of maximum drawdown, GHY dropped -41.35% vs SDMZX's -9.76%.
SDMZX currently has the higher Sharpe Ratio (1.42 vs -0.20), 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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