PGJZX vs. FMGIX

Last updated Jun 4, 2026

PGJZX (PGIM Jennison Global Infrastructure Fund) and FMGIX (Frontier MFG Core Infrastructure Fund) are both Energy Equities funds. Over the past 10 years, PGJZX returned 9.06%/yr vs 9.92%/yr for FMGIX. Their correlation of 0.85 suggests significant overlap in exposure. PGJZX charges 1.17%/yr vs 0.50%/yr for FMGIX.

Performance

PGJZX vs. FMGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison Global Infrastructure Fund (PGJZX) and Frontier MFG Core Infrastructure Fund (FMGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGJZX achieves a 8.41% return, which is significantly higher than FMGIX's 7.22% return. Over the past 10 years, PGJZX has underperformed FMGIX with an annualized return of 9.06%, while FMGIX has yielded a comparatively higher 9.92% annualized return.

PGJZX

• 1D: 1.21%
• 1M: -2.84%
• YTD: 8.41%
• 6M: 8.77%
• 1Y: 15.45%
• 3Y*: 16.49%
• 5Y*: 10.04%
• 10Y*: 9.06%

FMGIX

• 1D: 0.80%
• 1M: -2.05%
• YTD: 7.22%
• 6M: 7.43%
• 1Y: 12.97%
• 3Y*: 21.44%
• 5Y*: 11.98%
• 10Y*: 9.92%

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

PGJZX vs. FMGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGJZX PGIM Jennison Global Infrastructure Fund	8.41%	18.41%	17.13%	5.85%	-7.82%	15.06%	1.98%	28.89%	-8.57%	18.81%
FMGIX Frontier MFG Core Infrastructure Fund	7.22%	22.67%	34.26%	4.86%	-9.46%	13.84%	-1.36%	28.00%	-6.62%	20.25%

Correlation

The correlation between PGJZX and FMGIX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.85

The correlation between PGJZX and FMGIX has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

Return for Risk

PGJZX vs. FMGIX — Risk / Return Rank

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

PGJZX

PGJZX Risk / Return Rank: 26
PGJZX Sharpe Ratio Rank: 23
PGJZX Sortino Ratio Rank: 21
PGJZX Omega Ratio Rank: 23
PGJZX Calmar Ratio Rank: 32
PGJZX Martin Ratio Rank: 32

FMGIX

FMGIX Risk / Return Rank: 19
FMGIX Sharpe Ratio Rank: 18
FMGIX Sortino Ratio Rank: 16
FMGIX Omega Ratio Rank: 17
FMGIX Calmar Ratio Rank: 22
FMGIX Martin Ratio Rank: 21

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.

PGJZX vs. FMGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison Global Infrastructure Fund (PGJZX) and Frontier MFG Core Infrastructure Fund (FMGIX). 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.

	PGJZX	FMGIX	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.20	+0.18
Sortino ratio: Return per unit of downside risk	1.93	1.66	+0.26
Omega ratio: Gain probability vs. loss probability	1.25	1.21	+0.04
Calmar ratio: Return relative to maximum drawdown	2.13	1.74	+0.39
Martin ratio: Return relative to average drawdown	7.34	5.49	+1.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGJZX vs. FMGIX - Sharpe Ratio Comparison

The current PGJZX Sharpe Ratio is 1.38, which is comparable to the FMGIX Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of PGJZX and FMGIX, 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

	PGJZX	FMGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	1.20	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.42	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.19	+0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.24	+0.30

Drawdowns

PGJZX vs. FMGIX - Drawdown Comparison

The maximum PGJZX drawdown since its inception was -36.64%, smaller than the maximum FMGIX drawdown of -57.57%. Use the drawdown chart below to compare losses from any high point for PGJZX and FMGIX.

Drawdown Indicators

	PGJZX	FMGIX	Difference
Max Drawdown Largest peak-to-trough decline	-36.64%	-57.57%	+20.93%
Max Drawdown (1Y) Largest decline over 1 year	-7.01%	-7.11%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-12.39%	-20.56%	+8.17%
Max Drawdown (5Y) Largest decline over 5 years	-20.56%	-26.61%	+6.05%
Max Drawdown (10Y) Largest decline over 10 years	-36.64%	-57.57%	+20.93%
Current Drawdown Current decline from peak	-4.53%	-4.80%	+0.27%
Average Drawdown Average peak-to-trough decline	-5.62%	-5.34%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.25%	-0.21%

Volatility

PGJZX vs. FMGIX - Volatility Comparison

PGIM Jennison Global Infrastructure Fund (PGJZX) and Frontier MFG Core Infrastructure Fund (FMGIX) have volatilities of 4.08% and 3.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGJZX	FMGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.08%	3.90%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	9.00%	8.49%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	10.88%	10.33%	+0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.37%	28.52%	-14.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.78%	52.59%	-36.81%

PGJZX vs. FMGIX - Expense Ratio Comparison

PGJZX has a 1.17% expense ratio, which is higher than FMGIX's 0.50% expense ratio.

Dividends

PGJZX vs. FMGIX - Dividend Comparison

PGJZX's dividend yield for the trailing twelve months is around 6.46%, less than FMGIX's 31.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMGIX Frontier MFG Core Infrastructure Fund	31.36%	33.65%	48.77%	4.79%	3.98%	2.63%	2.38%	2.63%	3.09%	3.15%	2.83%	2.79%
PGJZX PGIM Jennison Global Infrastructure Fund	6.46%	7.18%	9.95%	1.59%	3.30%	7.77%	1.17%	1.58%	2.13%	1.35%	1.71%	1.42%

Frequently Asked Questions

Can I hold both PGJZX and FMGIX in my portfolio?

PGJZX and FMGIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGJZX or FMGIX?

PGJZX has higher volatility (4.08%) compared to FMGIX (3.90%). In terms of maximum drawdown, PGJZX dropped -36.64% vs FMGIX's -57.57%.

Which has better risk-adjusted returns?

PGJZX currently has the higher Sharpe Ratio (1.38 vs 1.20), 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.