PBL vs. PJFG

Last updated Jun 4, 2026

PBL (PGIM Portfolio Ballast ETF) and PJFG (PGIM Jennison Focused Growth ETF) are both exchange-traded funds - PBL is a Diversified Portfolio fund actively managed by PGIM, while PJFG is a Large Cap Growth Equities fund actively managed by PGIM. Both are actively managed. Over the past 3 years, PBL returned 15.09%/yr vs 24.04%/yr for PJFG. Their correlation of 0.84 suggests significant overlap in exposure. PBL charges 0.45%/yr vs 0.75%/yr for PJFG.

Performance

PBL vs. PJFG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Portfolio Ballast ETF (PBL) and PGIM Jennison Focused Growth ETF (PJFG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBL achieves a 7.85% return, which is significantly higher than PJFG's 6.64% return.

PBL

• 1D: -0.21%
• 1M: 4.07%
• YTD: 7.85%
• 6M: 8.56%
• 1Y: 19.49%
• 3Y*: 15.09%
• 5Y*: —
• 10Y*: —

PJFG

• 1D: -1.40%
• 1M: 6.58%
• YTD: 6.64%
• 6M: 5.59%
• 1Y: 19.79%
• 3Y*: 24.04%
• 5Y*: —
• 10Y*: —

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

PBL vs. PJFG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PBL PGIM Portfolio Ballast ETF	7.85%	12.35%	16.70%	14.28%	-3.52%
PJFG PGIM Jennison Focused Growth ETF	6.64%	16.94%	31.59%	54.23%	-6.69%

Correlation

The correlation between PBL and PJFG is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Dec 15, 2022	0.84

The correlation between PBL and PJFG has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.

Return for Risk

PBL vs. PJFG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PBL

PBL Risk / Return Rank: 68
PBL Sharpe Ratio Rank: 67
PBL Sortino Ratio Rank: 68
PBL Omega Ratio Rank: 64
PBL Calmar Ratio Rank: 68
PBL Martin Ratio Rank: 72

PJFG

PJFG Risk / Return Rank: 28
PJFG Sharpe Ratio Rank: 32
PJFG Sortino Ratio Rank: 31
PJFG Omega Ratio Rank: 31
PJFG Calmar Ratio Rank: 23
PJFG Martin Ratio Rank: 25

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PBL vs. PJFG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Portfolio Ballast ETF (PBL) and PGIM Jennison Focused Growth ETF (PJFG). 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.

	PBL	PJFG	Difference
Sharpe ratio: Return per unit of total volatility	2.21	1.18	+1.03
Sortino ratio: Return per unit of downside risk	3.10	1.68	+1.42
Omega ratio: Gain probability vs. loss probability	1.39	1.21	+0.18
Calmar ratio: Return relative to maximum drawdown	3.37	1.05	+2.32
Martin ratio: Return relative to average drawdown	13.56	3.28	+10.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PBL vs. PJFG - Sharpe Ratio Comparison

The current PBL Sharpe Ratio is 2.21, which is higher than the PJFG Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of PBL and PJFG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PBL	PJFG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	1.18	+1.03
Sharpe Ratio (All Time) Calculated using the full available price history	1.40	1.36	+0.04

Drawdowns

PBL vs. PJFG - Drawdown Comparison

The maximum PBL drawdown since its inception was -11.69%, smaller than the maximum PJFG drawdown of -24.24%. Use the drawdown chart below to compare losses from any high point for PBL and PJFG.

Drawdown Indicators

	PBL	PJFG	Difference
Max Drawdown Largest peak-to-trough decline	-11.69%	-24.24%	+12.55%
Max Drawdown (1Y) Largest decline over 1 year	-5.82%	-19.00%	+13.18%
Max Drawdown (3Y) Largest decline over 3 years	-11.69%	-24.24%	+12.55%
Current Drawdown Current decline from peak	-0.21%	-2.16%	+1.95%
Average Drawdown Average peak-to-trough decline	-1.65%	-3.75%	+2.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	6.04%	-4.60%

Volatility

PBL vs. PJFG - Volatility Comparison

The current volatility for PGIM Portfolio Ballast ETF (PBL) is 2.51%, while PGIM Jennison Focused Growth ETF (PJFG) has a volatility of 4.37%. This indicates that PBL experiences smaller price fluctuations and is considered to be less risky than PJFG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBL	PJFG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.51%	4.37%	-1.86%
Volatility (6M) Calculated over the trailing 6-month period	6.56%	12.90%	-6.34%
Volatility (1Y) Calculated over the trailing 1-year period	8.87%	16.83%	-7.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.83%	20.88%	-11.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.83%	20.88%	-11.05%

PBL vs. PJFG - Expense Ratio Comparison

PBL has a 0.45% expense ratio, which is lower than PJFG's 0.75% expense ratio.

Dividends

PBL vs. PJFG - Dividend Comparison

PBL's dividend yield for the trailing twelve months is around 2.05%, while PJFG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
PBL PGIM Portfolio Ballast ETF	2.05%	2.21%	6.89%	7.92%	0.16%
PJFG PGIM Jennison Focused Growth ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PBL and PJFG in my portfolio?

PBL and PJFG have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBL or PJFG?

PJFG has higher volatility (4.37%) compared to PBL (2.51%). In terms of maximum drawdown, PBL dropped -11.69% vs PJFG's -24.24%.

Which ETF is better, PBL or PJFG?

On 3-year performance, PJFG leads with 24.04% vs 15.09% for PBL. On fees, PBL is cheaper at 0.45% per year. On volatility, PBL has been the lower-risk option at 2.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBL or PJFG?

Over the 3-year period, PJFG has performed better with a 24.04% return vs 15.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBL or PJFG?

PBL is cheaper with a 0.45% expense ratio, compared with 0.75% for PJFG.

Which ETF pays a higher dividend yield, PBL or PJFG?

PBL has the higher dividend yield at 2.05%, compared with 0.00% for PJFG.

What is the main difference between PBL and PJFG?

PBL is categorized as Diversified Portfolio, while PJFG is Large Cap Growth Equities. Their fees differ too: 0.45% for PBL and 0.75% for PJFG.

Which has better risk-adjusted returns?

PBL currently has the higher Sharpe Ratio (2.21 vs 1.18), 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.