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.
Performance
PADZX vs. GIOIX - Performance Comparison
Returns By Period
The year-to-date returns for both investments are quite close, with PADZX having a 6.97% return and GIOIX slightly higher at 7.08%. Over the past 10 years, PADZX has underperformed GIOIX with an annualized return of 3.13%, while GIOIX has yielded a comparatively higher 3.87% annualized return.
PADZX
6.97%
0.77%
3.37%
8.73%
2.88%
3.13%
GIOIX
7.08%
0.46%
5.11%
11.37%
4.33%
3.87%
Key characteristics
| PADZX | GIOIX | |
|---|---|---|
| Sharpe Ratio | 4.11 | 4.41 |
| Sortino Ratio | 10.60 | 9.36 |
| Omega Ratio | 2.91 | 2.35 |
| Calmar Ratio | 13.30 | 3.30 |
| Martin Ratio | 59.78 | 37.29 |
| Ulcer Index | 0.15% | 0.30% |
| Daily Std Dev | 2.12% | 2.58% |
| Max Drawdown | -19.36% | -12.22% |
| Current Drawdown | 0.00% | -0.16% |
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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.
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.
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 5.76%, less than GIOIX's 6.31% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PADZX PGIM Absolute Return Bond Fund | 5.76% | 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 | 6.31% | 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
The current volatility for PGIM Absolute Return Bond Fund (PADZX) is 0.49%, while Guggenheim Macro Opportunities Fund (GIOIX) has a volatility of 0.55%. This indicates that PADZX experiences smaller price fluctuations and is considered to be less risky than GIOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.