PDBAX vs. MDVAX
PDBAX (PGIM Total Return Bond Fund) and MDVAX (MassMutual Diversified Bond Fund) are both Intermediate Core-Plus Bond funds. Over the past 10 years, PDBAX returned 2.08%/yr vs 1.99%/yr for MDVAX. Their correlation of 0.87 means they have usually moved in the same direction. PDBAX charges 0.76%/yr vs 1.07%/yr for MDVAX.
Performance
PDBAX vs. MDVAX - Performance Comparison
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Returns By Period
In the year-to-date period, PDBAX achieves a -0.70% return, which is significantly lower than MDVAX's 2.33% return. Both investments have delivered pretty close results over the past 10 years, with PDBAX having a 2.08% annualized return and MDVAX not far behind at 1.99%.
PDBAX
- 1D
- 0.00%
- 1M
- -1.33%
- 6M
- -0.97%
- YTD
- -0.70%
- 1Y
- 1.98%
- 3Y*
- 3.90%
- 5Y*
- -0.44%
- 10Y*
- 2.08%
- ALL TIME*
- 4.87%
MDVAX
- 1D
- 0.12%
- 1M
- -0.70%
- 6M
- 1.66%
- YTD
- 2.33%
- 1Y
- 5.36%
- 3Y*
- 5.74%
- 5Y*
- -0.11%
- 10Y*
- 1.99%
- ALL TIME*
- 3.12%
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 |
PDBAX vs. MDVAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PDBAX PGIM Total Return Bond Fund | -0.70% | 7.50% | 1.82% | 6.51% | -14.52% | -1.77% | 7.78% | 14.71% | -0.97% | 6.30% |
MDVAX MassMutual Diversified Bond Fund | 2.33% | 8.40% | 2.47% | 5.81% | -17.01% | 1.95% | 8.08% | 10.12% | -1.55% | 4.52% |
Correlation
The correlation between PDBAX and MDVAX is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 1999 | 0.87 |
The correlation between PDBAX and MDVAX has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.
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Return for Risk
PDBAX vs. MDVAX — Risk / Return Rank
PDBAX
MDVAX
PDBAX vs. MDVAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Total Return Bond Fund (PDBAX) and MassMutual Diversified Bond Fund (MDVAX). 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.
| PDBAX | MDVAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.42 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 2.82 | -1.77 |
| Martin ratioReturn relative to average drawdown | 2.56 | 11.79 | -9.22 |
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Drawdowns
PDBAX vs. MDVAX - Drawdown Comparison
The maximum PDBAX drawdown since its inception was -21.24%, smaller than the maximum MDVAX drawdown of -23.02%. Use the drawdown chart below to compare losses from any high point for PDBAX and MDVAX.
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Drawdown Indicators
| PDBAX | MDVAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.24% | -23.02% | +1.78% |
Max Drawdown (1Y)Largest decline over 1 year | -3.07% | -2.21% | -0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -5.25% | -4.87% | -0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -20.96% | -23.02% | +2.06% |
Max Drawdown (10Y)Largest decline over 10 years | -21.24% | -23.02% | +1.78% |
Current DrawdownCurrent decline from peak | -2.80% | -3.63% | +0.83% |
Average DrawdownAverage peak-to-trough decline | -2.47% | -3.47% | +1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 0.53% | +0.73% |
Volatility
PDBAX vs. MDVAX - Volatility Comparison
PGIM Total Return Bond Fund (PDBAX) has a higher volatility of 1.05% compared to MassMutual Diversified Bond Fund (MDVAX) at 0.57%. This indicates that PDBAX's price experiences larger fluctuations and is considered to be riskier than MDVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDBAX | MDVAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 0.57% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 3.52% | 2.15% | +1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.29% | 3.02% | +1.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.04% | 6.45% | -0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.36% | 5.26% | +0.10% |
PDBAX vs. MDVAX - Expense Ratio Comparison
PDBAX has a 0.76% expense ratio, which is lower than MDVAX's 1.07% expense ratio.
Dividends
PDBAX vs. MDVAX - Dividend Comparison
PDBAX's dividend yield for the trailing twelve months is around 3.98%, more than MDVAX's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDVAX MassMutual Diversified Bond Fund | 3.80% | 3.91% | 2.45% | 4.87% | 3.76% | 4.06% | 7.20% | 2.90% | 2.86% | 2.64% | 2.11% | 0.53% |
PDBAX PGIM Total Return Bond Fund | 3.98% | 4.27% | 3.76% | 3.55% | 5.49% | 2.47% | 2.68% | 10.32% | 3.74% | 2.60% | 3.65% | 2.94% |
Frequently Asked Questions
PDBAX and MDVAX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBAX has higher volatility (1.05%) compared to MDVAX (0.57%). In terms of maximum drawdown, PDBAX dropped -21.24% vs MDVAX's -23.02%.
MDVAX currently has the higher Sharpe Ratio (2.08 vs 0.76), 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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