PADZX vs. GIOIX
Compare and contrast key facts about PGIM Absolute Return Bond Fund (PADZX) and Guggenheim Macro Opportunities Fund (GIOIX).
PADZX is managed by PGIM Investments. It was launched on Mar 29, 2011. GIOIX is managed by Guggenheim Investments. It was launched on Nov 29, 2011.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PADZX or GIOIX.
Correlation
The correlation between PADZX and GIOIX is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
PADZX vs. GIOIX - Performance Comparison
Key characteristics
PADZX:
3.89
GIOIX:
3.12
PADZX:
9.68
GIOIX:
6.06
PADZX:
2.72
GIOIX:
1.84
PADZX:
12.19
GIOIX:
7.51
PADZX:
54.75
GIOIX:
22.23
PADZX:
0.15%
GIOIX:
0.33%
PADZX:
2.06%
GIOIX:
2.38%
PADZX:
-19.36%
GIOIX:
-12.22%
PADZX:
0.00%
GIOIX:
-0.84%
Returns By Period
In the year-to-date period, PADZX achieves a 7.47% return, which is significantly higher than GIOIX's 6.73% return. Over the past 10 years, PADZX has underperformed GIOIX with an annualized return of 3.23%, while GIOIX has yielded a comparatively higher 3.85% annualized return.
PADZX
7.47%
0.57%
2.99%
8.01%
3.36%
3.23%
GIOIX
6.73%
-0.60%
3.32%
7.49%
4.24%
3.85%
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PADZX vs. GIOIX - Expense Ratio Comparison
PADZX has a 0.72% expense ratio, which is lower than GIOIX's 0.96% expense ratio.
Risk-Adjusted Performance
PADZX vs. GIOIX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Absolute Return Bond Fund (PADZX) and Guggenheim Macro Opportunities Fund (GIOIX). 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.
Dividends
PADZX vs. GIOIX - Dividend Comparison
PADZX's dividend yield for the trailing twelve months is around 5.66%, which matches GIOIX's 5.68% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PADZX PGIM Absolute Return Bond Fund | 5.17% | 5.58% | 3.31% | 2.66% | 3.41% | 4.50% | 5.03% | 2.75% | 2.35% | 2.39% | 3.49% | 3.18% |
GIOIX Guggenheim Macro Opportunities Fund | 4.94% | 6.45% | 5.12% | 3.89% | 4.05% | 3.29% | 3.55% | 3.54% | 5.38% | 5.48% | 4.96% | 5.43% |
Drawdowns
PADZX vs. GIOIX - Drawdown Comparison
The maximum PADZX drawdown since its inception was -19.36%, which is greater than GIOIX's maximum drawdown of -12.22%. Use the drawdown chart below to compare losses from any high point for PADZX and GIOIX. For additional features, visit the drawdowns tool.
Volatility
PADZX vs. GIOIX - Volatility Comparison
PGIM Absolute Return Bond Fund (PADZX) has a higher volatility of 0.51% compared to Guggenheim Macro Opportunities Fund (GIOIX) at 0.41%. This indicates that PADZX's price experiences larger fluctuations and is considered to be riskier than GIOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.