PBHAX vs. PWJZX

Last updated Aug 1, 2026

PBHAX (PGIM High Yield Fund) and PWJZX (PGIM Jennison International Opportunities Fund) are both mutual funds - PBHAX is a High Yield Bonds fund managed by PGIM, while PWJZX is a Foreign Large Cap Equities fund managed by PGIM. Over the past 10 years, PBHAX returned 4.86%/yr vs 10.78%/yr for PWJZX. Their 0.42 correlation means their historical movements had little consistent relationship. PBHAX charges 0.75%/yr vs 0.90%/yr for PWJZX.

Performance

PBHAX vs. PWJZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM High Yield Fund (PBHAX) and PGIM Jennison International Opportunities Fund (PWJZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBHAX achieves a 0.98% return, which is significantly lower than PWJZX's 2.22% return. Over the past 10 years, PBHAX has underperformed PWJZX with an annualized return of 4.86%, while PWJZX has yielded a comparatively higher 10.78% annualized return.

PBHAX

• 1D: 0.21%
• 1M: -1.04%
• 6M: 0.42%
• YTD: 0.98%
• 1Y: 3.92%
• 3Y*: 6.99%
• 5Y*: 2.89%
• 10Y*: 4.86%
• ALL TIME*: 6.66%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PBHAX PGIM High Yield Fund	$0.00	$0.00	$0.00
PWJZX PGIM Jennison International Opportunities Fund	$0.00	$0.00	$0.00

PBHAX vs. PWJZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PBHAX PGIM High Yield Fund	0.98%	8.79%	6.89%	10.75%	-12.51%	5.63%	4.87%	15.86%	-1.53%	7.50%
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 PBHAX and PWJZX is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.51
Correlation (3Y) Balances recent behavior with more history.	0.44
Correlation (5Y) Shows whether the relationship held over a longer period.	0.48
Correlation (10Y) Provides a long-term view across more market conditions.	0.43
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.42

The correlation between PBHAX and PWJZX has been stable across timeframes, ranging from 0.42 to 0.51 - a consistent structural relationship.

Return for Risk

PBHAX vs. PWJZX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PBHAX

PBHAX Risk / Return Rank: 63
PBHAX Sharpe Ratio Rank: 50
PBHAX Sortino Ratio Rank: 65
PBHAX Omega Ratio Rank: 72
PBHAX Calmar Ratio Rank: 55
PBHAX Martin Ratio Rank: 75

PWJZX

PWJZX Risk / Return Rank: 7
PWJZX Sharpe Ratio Rank: 6
PWJZX Sortino Ratio Rank: 7
PWJZX Omega Ratio Rank: 7
PWJZX Calmar Ratio Rank: 6
PWJZX Martin Ratio Rank: 7

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PBHAX vs. PWJZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM High Yield Fund (PBHAX) 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.

	PBHAX	PWJZX	Difference
Sharpe ratio: Return per unit of total volatility	1.32	0.11	+1.21
Sortino ratio: Return per unit of downside risk	2.22	0.36	+1.87
Omega ratio: Gain probability vs. loss probability	1.31	1.05	+0.26
Calmar ratio: Return relative to maximum drawdown	1.91	0.16	+1.75
Martin ratio: Return relative to average drawdown	8.98	0.50	+8.49

PBHAX vs. PWJZX - Sharpe Ratio Comparison

The current PBHAX Sharpe Ratio is 1.32, which is higher than the PWJZX Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of PBHAX and PWJZX, 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

PBHAX vs. PWJZX - Drawdown Comparison

The maximum PBHAX drawdown since its inception was -28.80%, smaller than the maximum PWJZX drawdown of -48.22%. Use the drawdown chart below to compare losses from any high point for PBHAX and PWJZX.

Drawdown Indicators

	PBHAX	PWJZX	Difference
Max Drawdown Largest peak-to-trough decline	-28.80%	-48.22%	+19.42%
Max Drawdown (1Y) Largest decline over 1 year	-2.48%	-19.20%	+16.72%
Max Drawdown (3Y) Largest decline over 3 years	-4.06%	-20.18%	+16.12%
Max Drawdown (5Y) Largest decline over 5 years	-16.22%	-48.22%	+32.00%
Max Drawdown (10Y) Largest decline over 10 years	-21.14%	-48.22%	+27.08%
Current Drawdown Current decline from peak	-1.04%	-14.36%	+13.32%
Average Drawdown Average peak-to-trough decline	-2.86%	-12.99%	+10.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	6.20%	-5.67%

Volatility

PBHAX vs. PWJZX - Volatility Comparison

The current volatility for PGIM High Yield Fund (PBHAX) is 0.67%, while PGIM Jennison International Opportunities Fund (PWJZX) has a volatility of 12.08%. This indicates that PBHAX 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.

Volatility by Period

	PBHAX	PWJZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	12.08%	-11.41%
Volatility (6M) Calculated over the trailing 6-month period	2.80%	26.52%	-23.72%
Volatility (1Y) Calculated over the trailing 1-year period	3.59%	28.57%	-24.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.06%	23.63%	-18.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.45%	21.57%	-16.12%

PBHAX vs. PWJZX - Expense Ratio Comparison

PBHAX has a 0.75% expense ratio, which is lower than PWJZX's 0.90% expense ratio.

Dividends

PBHAX vs. PWJZX - Dividend Comparison

PBHAX's dividend yield for the trailing twelve months is around 6.24%, more than PWJZX's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBHAX PGIM High Yield Fund	6.24%	6.71%	6.01%	5.73%	5.94%	5.88%	5.70%	5.96%	6.26%	5.98%	4.61%	6.64%
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

Can I hold both PBHAX and PWJZX in my portfolio?

PBHAX and PWJZX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBHAX or PWJZX?

PWJZX has higher volatility (12.08%) compared to PBHAX (0.67%). In terms of maximum drawdown, PBHAX dropped -28.80% vs PWJZX's -48.22%.

Which has better risk-adjusted returns?

PBHAX currently has the higher Sharpe Ratio (1.32 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.