HYSZX vs. PRFRX
HYSZX (PGIM Short Duration High Yield Income Fund) and PRFRX (T. Rowe Price Floating Rate Fund) are both High Yield Bonds funds. Over the past 10 years, HYSZX returned 4.93%/yr vs 5.58%/yr for PRFRX. A 0.54 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.
Performance
HYSZX vs. PRFRX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with HYSZX having a 1.25% return and PRFRX slightly higher at 1.27%. Over the past 10 years, HYSZX has underperformed PRFRX with an annualized return of 4.93%, while PRFRX has yielded a comparatively higher 5.58% annualized return.
HYSZX
- 1D
- 0.00%
- 1M
- 0.30%
- YTD
- 1.25%
- 6M
- 1.78%
- 1Y
- 4.92%
- 3Y*
- 7.38%
- 5Y*
- 4.00%
- 10Y*
- 4.93%
PRFRX
- 1D
- -0.11%
- 1M
- -0.10%
- YTD
- 1.27%
- 6M
- 2.44%
- 1Y
- 8.03%
- 3Y*
- 9.84%
- 5Y*
- 7.06%
- 10Y*
- 5.58%
HYSZX vs. PRFRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYSZX PGIM Short Duration High Yield Income Fund | 1.25% | 7.84% | 6.49% | 9.57% | -6.46% | 5.48% | 4.19% | 11.78% | 1.20% | 4.80% |
PRFRX T. Rowe Price Floating Rate Fund | 1.27% | 9.82% | 11.04% | 13.78% | -1.95% | 4.60% | 1.75% | 8.46% | -0.08% | 3.48% |
Correlation
The correlation between HYSZX and PRFRX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | 0.54 |
The correlation between HYSZX and PRFRX shifts across timeframes, from 0.41 (3 years) to 0.54 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYSZX vs. PRFRX — Risk / Return Rank
HYSZX
PRFRX
HYSZX vs. PRFRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Short Duration High Yield Income Fund (HYSZX) and T. Rowe Price Floating Rate Fund (PRFRX). 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.
| HYSZX | PRFRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.26 | ||
| Sortino ratioReturn per unit of downside risk | -4.54 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 2.18 | -0.77 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 5.45 | -2.94 |
| Martin ratioReturn relative to average drawdown | 11.96 | 20.01 | -8.05 |
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Drawdowns
HYSZX vs. PRFRX - Drawdown Comparison
The maximum HYSZX drawdown since its inception was -18.31%, smaller than the maximum PRFRX drawdown of -20.05%. Use the drawdown chart below to compare losses from any high point for HYSZX and PRFRX.
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Drawdown Indicators
| HYSZX | PRFRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.31% | -20.05% | +1.74% |
Max Drawdown (1Y)Largest decline over 1 year | -2.01% | -1.50% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -2.82% | -2.35% | -0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -9.77% | -5.94% | -3.83% |
Max Drawdown (10Y)Largest decline over 10 years | -18.31% | -20.05% | +1.74% |
Current DrawdownCurrent decline from peak | -0.36% | -0.66% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -1.18% | -0.69% | -0.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 0.41% | +0.01% |
Volatility
HYSZX vs. PRFRX - Volatility Comparison
PGIM Short Duration High Yield Income Fund (HYSZX) has a higher volatility of 0.88% compared to T. Rowe Price Floating Rate Fund (PRFRX) at 0.65%. This indicates that HYSZX's price experiences larger fluctuations and is considered to be riskier than PRFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYSZX | PRFRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 0.65% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.24% | 1.93% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.87% | 2.70% | +0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.88% | 2.92% | +0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.23% | 3.92% | +0.31% |
HYSZX vs. PRFRX - Expense Ratio Comparison
Both HYSZX and PRFRX have an expense ratio of 0.75%.
Dividends
HYSZX vs. PRFRX - Dividend Comparison
HYSZX's dividend yield for the trailing twelve months is around 6.40%, less than PRFRX's 9.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYSZX PGIM Short Duration High Yield Income Fund | 6.40% | 6.45% | 6.27% | 4.84% | 5.01% | 4.56% | 5.00% | 5.60% | 5.94% | 5.73% | 6.33% | 6.76% |
PRFRX T. Rowe Price Floating Rate Fund | 9.81% | 9.99% | 10.20% | 9.57% | 4.03% | 3.86% | 4.00% | 4.84% | 4.87% | 4.04% | 4.07% | 4.07% |
Frequently Asked Questions
HYSZX and PRFRX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYSZX has higher volatility (0.88%) compared to PRFRX (0.65%). In terms of maximum drawdown, HYSZX dropped -18.31% vs PRFRX's -20.05%.
PRFRX currently has the higher Sharpe Ratio (3.03 vs 1.77), 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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