PBCAX vs. PWJZX
PBCAX (PGIM California Muni Income Fund) and PWJZX (PGIM Jennison International Opportunities Fund) are both mutual funds - PBCAX is a Municipal Bonds fund managed by PGIM, while PWJZX is a Foreign Large Cap Equities fund managed by PGIM. Over the past 10 years, PBCAX returned 1.46%/yr vs 10.78%/yr for PWJZX. Their -0.00 correlation means they have often moved in opposite directions in the past. PBCAX charges 0.69%/yr vs 0.90%/yr for PWJZX.
Performance
PBCAX vs. PWJZX - Performance Comparison
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Returns By Period
In the year-to-date period, PBCAX achieves a -0.17% return, which is significantly lower than PWJZX's 2.22% return. Over the past 10 years, PBCAX has underperformed PWJZX with an annualized return of 1.46%, while PWJZX has yielded a comparatively higher 10.78% annualized return.
PBCAX
- 1D
- -0.10%
- 1M
- -1.40%
- 6M
- -1.12%
- YTD
- -0.17%
- 1Y
- 3.54%
- 3Y*
- 3.17%
- 5Y*
- 0.52%
- 10Y*
- 1.46%
- ALL TIME*
- 4.70%
PWJZX
- 1D
- 5.98%
- 1M
- -7.13%
- 6M
- -0.31%
- YTD
- 2.22%
- 1Y
- 5.27%
- 3Y*
- 8.50%
- 5Y*
- -1.14%
- 10Y*
- 10.78%
- ALL TIME*
- 8.56%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PBCAX vs. PWJZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBCAX PGIM California Muni Income Fund | -0.17% | 5.68% | 1.76% | 4.42% | -7.96% | 0.64% | 3.34% | 6.93% | 0.38% | 5.27% |
PWJZX PGIM Jennison International Opportunities Fund | 2.22% | 14.53% | 6.84% | 20.25% | -36.95% | 13.27% | 55.57% | 38.16% | -12.93% | 49.58% |
Correlation
The correlation between PBCAX and PWJZX is 0.21, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.21 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | -0.00 |
The correlation between PBCAX and PWJZX shifts across timeframes, from -0.00 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PBCAX vs. PWJZX — Risk / Return Rank
PBCAX
PWJZX
PBCAX vs. PWJZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM California Muni Income Fund (PBCAX) and PGIM Jennison International Opportunities Fund (PWJZX). 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.
| PBCAX | PWJZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.86 | ||
| Sortino ratioReturn per unit of downside risk | +2.60 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.05 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 0.16 | +1.30 |
| Martin ratioReturn relative to average drawdown | 4.22 | 0.50 | +3.73 |
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Drawdowns
PBCAX vs. PWJZX - Drawdown Comparison
The maximum PBCAX drawdown since its inception was -13.25%, smaller than the maximum PWJZX drawdown of -48.22%. Use the drawdown chart below to compare losses from any high point for PBCAX and PWJZX.
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Drawdown Indicators
| PBCAX | PWJZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.25% | -48.22% | +34.97% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -19.20% | +16.44% |
Max Drawdown (3Y)Largest decline over 3 years | -3.54% | -20.18% | +16.64% |
Max Drawdown (5Y)Largest decline over 5 years | -11.41% | -48.22% | +36.81% |
Max Drawdown (10Y)Largest decline over 10 years | -11.72% | -48.22% | +36.50% |
Current DrawdownCurrent decline from peak | -2.02% | -14.36% | +12.34% |
Average DrawdownAverage peak-to-trough decline | -1.93% | -12.99% | +11.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 6.20% | -5.25% |
Volatility
PBCAX vs. PWJZX - Volatility Comparison
The current volatility for PGIM California Muni Income Fund (PBCAX) is 0.62%, while PGIM Jennison International Opportunities Fund (PWJZX) has a volatility of 12.08%. This indicates that PBCAX experiences smaller price fluctuations and is considered to be less risky than PWJZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBCAX | PWJZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 12.08% | -11.46% |
Volatility (6M)Calculated over the trailing 6-month period | 1.68% | 26.52% | -24.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.05% | 28.57% | -26.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.88% | 23.63% | -20.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.45% | 21.57% | -18.12% |
PBCAX vs. PWJZX - Expense Ratio Comparison
PBCAX has a 0.69% expense ratio, which is lower than PWJZX's 0.90% expense ratio.
Dividends
PBCAX vs. PWJZX - Dividend Comparison
PBCAX's dividend yield for the trailing twelve months is around 2.70%, more than PWJZX's 0.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBCAX PGIM California Muni Income Fund | 2.70% | 3.74% | 2.66% | 1.94% | 1.73% | 1.76% | 2.51% | 2.78% | 3.35% | 3.32% | 3.57% | 3.70% |
PWJZX PGIM Jennison International Opportunities Fund | 0.18% | 0.19% | 0.07% | 0.09% | 0.00% | 0.09% | 0.00% | 0.00% | 0.06% | 0.17% | 0.24% | 0.00% |
Frequently Asked Questions
PBCAX and PWJZX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PWJZX has higher volatility (12.08%) compared to PBCAX (0.62%). In terms of maximum drawdown, PBCAX dropped -13.25% vs PWJZX's -48.22%.
PBCAX currently has the higher Sharpe Ratio (1.97 vs 0.11), 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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