PFH vs. XPMIX

Last updated Aug 1, 2026

PFH (Prudential Financial, Inc. 4.125% Junior Subordinated Notes due 2060) is a stock, while XPMIX (StepStone Private Markets Fund Class I) is Multistrategy fund actively managed by StepStone. Over the past 5 years, PFH returned -4.74%/yr vs 12.85%/yr for XPMIX. Their 0.21 correlation means their historical movements had little consistent relationship.

Performance

PFH vs. XPMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Prudential Financial, Inc. 4.125% Junior Subordinated Notes due 2060 (PFH) and StepStone Private Markets Fund Class I (XPMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFH achieves a -5.31% return, which is significantly lower than XPMIX's 5.73% return.

PFH

• 1D: -0.19%
• 1M: -3.65%
• 6M: -8.49%
• YTD: -5.31%
• 1Y: -5.61%
• 3Y*: -2.11%
• 5Y*: -4.74%
• 10Y*: —
• ALL TIME*: -3.25%

XPMIX

• 1D: 0.45%
• 1M: 0.12%
• 6M: 4.37%
• YTD: 5.73%
• 1Y: 10.47%
• 3Y*: 11.07%
• 5Y*: 12.85%
• 10Y*: —
• ALL TIME*: 18.18%

*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)
PFH Prudential Financial, Inc. 4.125% Junior Subordinated Notes due 2060	$562.05K	$534.72K	$636.05K
XPMIX StepStone Private Markets Fund Class I	$0.00	$0.00	$0.00

PFH vs. XPMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PFH Prudential Financial, Inc. 4.125% Junior Subordinated Notes due 2060	-5.31%	-1.37%	0.92%	12.32%	-26.78%	2.36%	4.05%
XPMIX StepStone Private Markets Fund Class I	5.73%	11.78%	12.97%	12.21%	8.77%	30.00%	24.92%

Correlation

The correlation between PFH and XPMIX is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (3Y) Balances recent behavior with more history.	0.31
Correlation (5Y) Shows whether the relationship held over a longer period.	0.23
Correlation (All Time) Calculated using the full available price history since Oct 1, 2020	0.21

Over the past year, PFH and XPMIX have become more correlated (0.47) than their long-term average of 0.21, meaning their price movements have been converging.

Return for Risk

PFH vs. XPMIX — Risk / Return Rank

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

PFH

PFH Risk / Return Rank: 19
PFH Sharpe Ratio Rank: 16
PFH Sortino Ratio Rank: 15
PFH Omega Ratio Rank: 16
PFH Calmar Ratio Rank: 26
PFH Martin Ratio Rank: 23

XPMIX

XPMIX Risk / Return Rank: 93
XPMIX Sharpe Ratio Rank: 92
XPMIX Sortino Ratio Rank: 95
XPMIX Omega Ratio Rank: 90
XPMIX Calmar Ratio Rank: 94
XPMIX Martin Ratio Rank: 94

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.

PFH vs. XPMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Prudential Financial, Inc. 4.125% Junior Subordinated Notes due 2060 (PFH) and StepStone Private Markets Fund Class I (XPMIX). 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.

	PFH	XPMIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.62	2.39	-3.01
Sortino ratio: Return per unit of downside risk	-0.83	3.89	-4.72
Omega ratio: Gain probability vs. loss probability	0.90	1.48	-0.58
Calmar ratio: Return relative to maximum drawdown	-0.50	3.94	-4.44
Martin ratio: Return relative to average drawdown	-0.98	15.15	-16.13

PFH vs. XPMIX - Sharpe Ratio Comparison

The current PFH Sharpe Ratio is -0.62, which is lower than the XPMIX Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of PFH and XPMIX, 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

PFH vs. XPMIX - Drawdown Comparison

The maximum PFH drawdown since its inception was -28.58%, which is greater than XPMIX's maximum drawdown of -3.71%. Use the drawdown chart below to compare losses from any high point for PFH and XPMIX.

Drawdown Indicators

	PFH	XPMIX	Difference
Max Drawdown Largest peak-to-trough decline	-28.58%	-3.71%	-24.87%
Max Drawdown (1Y) Largest decline over 1 year	-11.11%	-2.59%	-8.52%
Max Drawdown (3Y) Largest decline over 3 years	-18.90%	-3.13%	-15.77%
Max Drawdown (5Y) Largest decline over 5 years	-28.58%	-3.13%	-25.45%
Current Drawdown Current decline from peak	-22.52%	-0.20%	-22.32%
Average Drawdown Average peak-to-trough decline	-13.46%	-0.43%	-13.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.66%	0.67%	+4.99%

Volatility

PFH vs. XPMIX - Volatility Comparison

Prudential Financial, Inc. 4.125% Junior Subordinated Notes due 2060 (PFH) has a higher volatility of 1.92% compared to StepStone Private Markets Fund Class I (XPMIX) at 0.91%. This indicates that PFH's price experiences larger fluctuations and is considered to be riskier than XPMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFH	XPMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.92%	0.91%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	6.37%	3.45%	+2.92%
Volatility (1Y) Calculated over the trailing 1-year period	9.10%	4.27%	+4.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.90%	5.92%	+7.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.00%	9.86%	+3.14%

Dividends

PFH vs. XPMIX - Dividend Comparison

PFH's dividend yield for the trailing twelve months is around 6.51%, more than XPMIX's 0.78% yield.

Position	TTM	2025	2024	2023	2022	2021
PFH Prudential Financial, Inc. 4.125% Junior Subordinated Notes due 2060	6.51%	5.98%	5.57%	5.33%	5.65%	3.96%
XPMIX StepStone Private Markets Fund Class I	0.78%	0.85%	1.31%	0.33%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PFH and XPMIX in my portfolio?

PFH and XPMIX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFH or XPMIX?

PFH has higher volatility (1.92%) compared to XPMIX (0.91%). In terms of maximum drawdown, PFH dropped -28.58% vs XPMIX's -3.71%.

Which has better risk-adjusted returns?

XPMIX currently has the higher Sharpe Ratio (2.39 vs -0.62), 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.