ISD vs. PGOAX

Last updated Jul 14, 2026

ISD (PGIM High Yield Bond Fund) and PGOAX (PGIM Jennison Small Company Fund) are both mutual funds - ISD is a High Yield Bonds fund managed by PGIM, while PGOAX is a Small Cap Growth Equities fund managed by PGIM. Over the past 10 years, ISD returned 6.86%/yr vs 12.74%/yr for PGOAX. At a 0.43 correlation, their price movements are largely independent. ISD charges 0.02%/yr vs 1.13%/yr for PGOAX.

Performance

ISD vs. PGOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM High Yield Bond Fund (ISD) and PGIM Jennison Small Company Fund (PGOAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISD achieves a -7.57% return, which is significantly lower than PGOAX's 15.89% return. Over the past 10 years, ISD has underperformed PGOAX with an annualized return of 6.86%, while PGOAX has yielded a comparatively higher 12.74% annualized return.

ISD

• 1D: -0.85%
• 1M: 0.67%
• 6M: -7.82%
• YTD: -7.57%
• 1Y: -1.06%
• 3Y*: 11.00%
• 5Y*: 4.81%
• 10Y*: 6.86%

PGOAX

• 1D: -0.21%
• 1M: 1.18%
• 6M: 10.91%
• YTD: 15.89%
• 1Y: 27.56%
• 3Y*: 14.24%
• 5Y*: 6.93%
• 10Y*: 12.74%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ISD vs. PGOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISD PGIM High Yield Bond Fund	-7.57%	15.63%	22.05%	15.05%	-18.42%	15.72%	6.66%	28.41%	-5.03%	3.59%
PGOAX PGIM Jennison Small Company Fund	15.89%	6.96%	16.26%	11.48%	-18.85%	29.05%	27.07%	41.48%	-13.69%	19.58%

Correlation

The correlation between ISD and PGOAX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Apr 27, 2012	0.43

The correlation between ISD and PGOAX has been stable across timeframes, ranging from 0.43 to 0.53 - a consistent structural relationship.

Return for Risk

ISD vs. PGOAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ISD

ISD Risk / Return Rank: 3
ISD Sharpe Ratio Rank: 3
ISD Sortino Ratio Rank: 3
ISD Omega Ratio Rank: 3
ISD Calmar Ratio Rank: 3
ISD Martin Ratio Rank: 3

PGOAX

PGOAX Risk / Return Rank: 58
PGOAX Sharpe Ratio Rank: 47
PGOAX Sortino Ratio Rank: 53
PGOAX Omega Ratio Rank: 43
PGOAX Calmar Ratio Rank: 74
PGOAX Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ISD vs. PGOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM High Yield Bond Fund (ISD) and PGIM Jennison Small Company Fund (PGOAX). 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.

	ISD	PGOAX	Difference
Sharpe ratio: Return per unit of total volatility	-0.09	1.55	-1.64
Sortino ratio: Return per unit of downside risk	-0.05	2.32	-2.37
Omega ratio: Gain probability vs. loss probability	0.99	1.27	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.08	2.69	-2.77
Martin ratio: Return relative to average drawdown	-0.20	10.45	-10.65

ISD vs. PGOAX - Sharpe Ratio Comparison

The current ISD Sharpe Ratio is -0.09, which is lower than the PGOAX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of ISD and PGOAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ISD vs. PGOAX - Drawdown Comparison

The maximum ISD drawdown since its inception was -38.88%, smaller than the maximum PGOAX drawdown of -56.57%. Use the drawdown chart below to compare losses from any high point for ISD and PGOAX.

Drawdown Indicators

	ISD	PGOAX	Difference
Max Drawdown Largest peak-to-trough decline	-38.88%	-56.57%	+17.69%
Max Drawdown (1Y) Largest decline over 1 year	-13.52%	-9.88%	-3.64%
Max Drawdown (3Y) Largest decline over 3 years	-13.94%	-23.17%	+9.23%
Max Drawdown (5Y) Largest decline over 5 years	-25.45%	-28.19%	+2.74%
Max Drawdown (10Y) Largest decline over 10 years	-38.88%	-47.39%	+8.51%
Current Drawdown Current decline from peak	-9.54%	-2.76%	-6.78%
Average Drawdown Average peak-to-trough decline	-5.63%	-8.97%	+3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.40%	2.54%	+2.86%

Volatility

ISD vs. PGOAX - Volatility Comparison

The current volatility for PGIM High Yield Bond Fund (ISD) is 2.84%, while PGIM Jennison Small Company Fund (PGOAX) has a volatility of 5.71%. This indicates that ISD experiences smaller price fluctuations and is considered to be less risky than PGOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISD	PGOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	5.71%	-2.87%
Volatility (6M) Calculated over the trailing 6-month period	9.76%	13.42%	-3.66%
Volatility (1Y) Calculated over the trailing 1-year period	11.27%	17.18%	-5.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.37%	20.35%	-6.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.59%	22.14%	-7.55%

ISD vs. PGOAX - Expense Ratio Comparison

ISD has a 0.02% expense ratio, which is lower than PGOAX's 1.13% expense ratio.

Dividends

ISD vs. PGOAX - Dividend Comparison

ISD's dividend yield for the trailing twelve months is around 9.87%, more than PGOAX's 7.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ISD PGIM High Yield Bond Fund	9.87%	8.71%	9.21%	10.23%	10.61%	7.85%	8.40%	7.86%	7.89%	8.46%	8.28%	9.64%
PGOAX PGIM Jennison Small Company Fund	7.00%	8.11%	5.29%	0.37%	4.11%	37.46%	14.95%	18.11%	20.80%	8.28%	5.42%	15.00%

Frequently Asked Questions

Can I hold both ISD and PGOAX in my portfolio?

ISD and PGOAX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISD or PGOAX?

PGOAX has higher volatility (5.71%) compared to ISD (2.84%). In terms of maximum drawdown, ISD dropped -38.88% vs PGOAX's -56.57%.

Which has better risk-adjusted returns?

PGOAX currently has the higher Sharpe Ratio (1.55 vs -0.09), 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.