PBSMX vs. VIITX
PBSMX (PGIM Short-Term Corporate Bond Fund) and VIITX (Vanguard Institutional Intermediate-Term Bond Fund) are both Short-Term Bond funds. Over the past 10 years, PBSMX returned 2.20%/yr vs 2.08%/yr for VIITX. Their correlation of 0.82 suggests significant overlap in exposure. PBSMX charges 0.71%/yr vs 0.02%/yr for VIITX.
Performance
PBSMX vs. VIITX - Performance Comparison
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Returns By Period
In the year-to-date period, PBSMX achieves a 0.22% return, which is significantly lower than VIITX's 0.47% return. Over the past 10 years, PBSMX has outperformed VIITX with an annualized return of 2.20%, while VIITX has yielded a comparatively lower 2.08% annualized return.
PBSMX
- 1D
- -0.19%
- 1M
- 0.24%
- YTD
- 0.22%
- 6M
- 0.63%
- 1Y
- 3.64%
- 3Y*
- 4.96%
- 5Y*
- 1.75%
- 10Y*
- 2.20%
VIITX
- 1D
- -0.14%
- 1M
- 0.39%
- YTD
- 0.47%
- 6M
- 0.66%
- 1Y
- 4.23%
- 3Y*
- 4.90%
- 5Y*
- 1.48%
- 10Y*
- 2.08%
PBSMX vs. VIITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBSMX PGIM Short-Term Corporate Bond Fund | 0.22% | 6.41% | 4.25% | 5.98% | -7.06% | -0.71% | 5.16% | 6.47% | 0.35% | 1.86% |
VIITX Vanguard Institutional Intermediate-Term Bond Fund | 0.47% | 7.23% | 3.67% | 5.31% | -7.99% | -1.02% | 6.17% | 6.44% | 0.87% | 2.00% |
Correlation
The correlation between PBSMX and VIITX is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2015 | 0.82 |
The correlation between PBSMX and VIITX has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.
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Return for Risk
PBSMX vs. VIITX — Risk / Return Rank
PBSMX
VIITX
PBSMX vs. VIITX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Short-Term Corporate Bond Fund (PBSMX) and Vanguard Institutional Intermediate-Term Bond Fund (VIITX). 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.
| PBSMX | VIITX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.33 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 2.35 | -0.02 |
| Martin ratioReturn relative to average drawdown | 8.06 | 7.22 | +0.84 |
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Drawdowns
PBSMX vs. VIITX - Drawdown Comparison
The maximum PBSMX drawdown since its inception was -10.70%, smaller than the maximum VIITX drawdown of -11.86%. Use the drawdown chart below to compare losses from any high point for PBSMX and VIITX.
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Drawdown Indicators
| PBSMX | VIITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.70% | -11.86% | +1.16% |
Max Drawdown (1Y)Largest decline over 1 year | -1.65% | -1.89% | +0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -1.65% | -3.32% | +1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -10.70% | -11.86% | +1.16% |
Max Drawdown (10Y)Largest decline over 10 years | -10.70% | -11.86% | +1.16% |
Current DrawdownCurrent decline from peak | -0.77% | -0.96% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -0.88% | -2.12% | +1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 0.61% | -0.13% |
Volatility
PBSMX vs. VIITX - Volatility Comparison
The current volatility for PGIM Short-Term Corporate Bond Fund (PBSMX) is 0.67%, while Vanguard Institutional Intermediate-Term Bond Fund (VIITX) has a volatility of 0.82%. This indicates that PBSMX experiences smaller price fluctuations and is considered to be less risky than VIITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBSMX | VIITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 0.82% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 1.59% | 1.93% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.12% | 2.49% | -0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.90% | 3.86% | -0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.64% | 3.07% | -0.43% |
PBSMX vs. VIITX - Expense Ratio Comparison
PBSMX has a 0.71% expense ratio, which is higher than VIITX's 0.02% expense ratio.
Dividends
PBSMX vs. VIITX - Dividend Comparison
PBSMX's dividend yield for the trailing twelve months is around 3.88%, less than VIITX's 4.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBSMX PGIM Short-Term Corporate Bond Fund | 3.88% | 3.74% | 3.00% | 2.65% | 2.02% | 1.79% | 2.22% | 2.57% | 2.57% | 2.40% | 2.40% | 2.56% |
VIITX Vanguard Institutional Intermediate-Term Bond Fund | 4.57% | 4.51% | 4.71% | 3.61% | 2.14% | 2.20% | 2.87% | 2.69% | 2.62% | 2.04% | 2.95% | 0.57% |
Frequently Asked Questions
PBSMX and VIITX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIITX has higher volatility (0.82%) compared to PBSMX (0.67%). In terms of maximum drawdown, PBSMX dropped -10.70% vs VIITX's -11.86%.
PBSMX currently has the higher Sharpe Ratio (1.82 vs 1.79), 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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