MNTRX vs. PBHAX
MNTRX (Allspring Core Bond Fund) and PBHAX (PGIM High Yield Fund) are both mutual funds - MNTRX is a Intermediate Core Bond fund managed by Allspring Global Investments, while PBHAX is a High Yield Bonds fund managed by PGIM. Over the past 10 years, MNTRX returned 1.40%/yr vs 5.18%/yr for PBHAX. At a 0.17 correlation, their price movements are largely independent. MNTRX charges 0.70%/yr vs 0.75%/yr for PBHAX.
Performance
MNTRX vs. PBHAX - Performance Comparison
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Returns By Period
In the year-to-date period, MNTRX achieves a 0.29% return, which is significantly lower than PBHAX's 1.48% return. Over the past 10 years, MNTRX has underperformed PBHAX with an annualized return of 1.40%, while PBHAX has yielded a comparatively higher 5.18% annualized return.
MNTRX
- 1D
- 0.55%
- 1M
- 0.52%
- YTD
- 0.29%
- 6M
- 0.90%
- 1Y
- 4.87%
- 3Y*
- 3.88%
- 5Y*
- -0.24%
- 10Y*
- 1.40%
PBHAX
- 1D
- 0.42%
- 1M
- 0.36%
- YTD
- 1.48%
- 6M
- 2.37%
- 1Y
- 6.93%
- 3Y*
- 7.95%
- 5Y*
- 3.17%
- 10Y*
- 5.18%
MNTRX vs. PBHAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MNTRX Allspring Core Bond Fund | 0.29% | 7.16% | 1.38% | 5.37% | -13.82% | -2.10% | 8.51% | 8.18% | -0.57% | 3.28% |
PBHAX PGIM High Yield Fund | 1.48% | 8.79% | 6.89% | 10.75% | -12.51% | 5.63% | 4.87% | 15.86% | -1.53% | 7.50% |
Correlation
The correlation between MNTRX and PBHAX is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 1997 | 0.17 |
Over the past year, MNTRX and PBHAX have become more correlated (0.54) than their long-term average of 0.17, meaning their price movements have been converging.
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Return for Risk
MNTRX vs. PBHAX — Risk / Return Rank
MNTRX
PBHAX
MNTRX vs. PBHAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Allspring Core Bond Fund (MNTRX) and PGIM High Yield Fund (PBHAX). 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.
| MNTRX | PBHAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.47 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.81 | -1.24 |
| Martin ratioReturn relative to average drawdown | 4.59 | 13.97 | -9.38 |
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Drawdowns
MNTRX vs. PBHAX - Drawdown Comparison
The maximum MNTRX drawdown since its inception was -19.36%, smaller than the maximum PBHAX drawdown of -28.80%. Use the drawdown chart below to compare losses from any high point for MNTRX and PBHAX.
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Drawdown Indicators
| MNTRX | PBHAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.36% | -28.80% | +9.44% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -2.48% | -0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -6.27% | -4.06% | -2.21% |
Max Drawdown (5Y)Largest decline over 5 years | -18.91% | -16.22% | -2.69% |
Max Drawdown (10Y)Largest decline over 10 years | -19.36% | -21.14% | +1.78% |
Current DrawdownCurrent decline from peak | -3.14% | -0.21% | -2.93% |
Average DrawdownAverage peak-to-trough decline | -2.46% | -2.87% | +0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.50% | +0.54% |
Volatility
MNTRX vs. PBHAX - Volatility Comparison
Allspring Core Bond Fund (MNTRX) has a higher volatility of 1.35% compared to PGIM High Yield Fund (PBHAX) at 1.23%. This indicates that MNTRX's price experiences larger fluctuations and is considered to be riskier than PBHAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MNTRX | PBHAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 1.23% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 2.76% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.95% | 3.61% | +0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.04% | 5.07% | +0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.96% | 5.49% | -0.53% |
MNTRX vs. PBHAX - Expense Ratio Comparison
MNTRX has a 0.70% expense ratio, which is lower than PBHAX's 0.75% expense ratio.
Dividends
MNTRX vs. PBHAX - Dividend Comparison
MNTRX's dividend yield for the trailing twelve months is around 4.06%, less than PBHAX's 6.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MNTRX Allspring Core Bond Fund | 4.06% | 4.07% | 4.13% | 3.19% | 1.85% | 1.75% | 6.35% | 2.46% | 2.33% | 1.74% | 1.97% | 1.45% |
PBHAX PGIM High Yield Fund | 6.74% | 6.71% | 6.01% | 5.73% | 5.94% | 5.88% | 5.70% | 5.96% | 6.26% | 5.98% | 4.61% | 6.64% |
Frequently Asked Questions
MNTRX and PBHAX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MNTRX has higher volatility (1.35%) compared to PBHAX (1.23%). In terms of maximum drawdown, MNTRX dropped -19.36% vs PBHAX's -28.80%.
PBHAX currently has the higher Sharpe Ratio (1.93 vs 1.22), 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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