PGTQX vs. AAFTX

Last updated Jun 4, 2026

PGTQX (PGIM Global Total Return Fund - Class R6) and AAFTX (American Funds 2035 Target Date Retirement Fund) are both mutual funds - PGTQX is a Global Bonds fund managed by PGIM, while AAFTX is a Target Retirement Date fund managed by American Funds. Over the past 10 years, PGTQX returned 1.79%/yr vs 10.41%/yr for AAFTX. At a 0.23 correlation, their price movements are largely independent. PGTQX charges 0.54%/yr vs 0.33%/yr for AAFTX.

Performance

PGTQX vs. AAFTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Global Total Return Fund - Class R6 (PGTQX) and American Funds 2035 Target Date Retirement Fund (AAFTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGTQX achieves a 0.38% return, which is significantly lower than AAFTX's 7.09% return. Over the past 10 years, PGTQX has underperformed AAFTX with an annualized return of 1.79%, while AAFTX has yielded a comparatively higher 10.41% annualized return.

PGTQX

• 1D: 0.19%
• 1M: 0.36%
• YTD: 0.38%
• 6M: 0.73%
• 1Y: 4.25%
• 3Y*: 5.89%
• 5Y*: -1.45%
• 10Y*: 1.79%

AAFTX

• 1D: 0.18%
• 1M: 3.09%
• YTD: 7.09%
• 6M: 7.56%
• 1Y: 18.49%
• 3Y*: 15.25%
• 5Y*: 7.80%
• 10Y*: 10.41%

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

PGTQX vs. AAFTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGTQX PGIM Global Total Return Fund - Class R6	0.38%	11.14%	0.31%	8.46%	-22.33%	-5.95%	10.07%	15.22%	-1.59%	13.59%
AAFTX American Funds 2035 Target Date Retirement Fund	7.09%	16.77%	12.40%	16.50%	-16.53%	15.20%	17.23%	22.81%	-5.48%	20.68%

Correlation

The correlation between PGTQX and AAFTX is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Feb 6, 2012	0.23

Over the past year, PGTQX and AAFTX have become more correlated (0.53) than their long-term average of 0.23, meaning their price movements have been converging.

Return for Risk

PGTQX vs. AAFTX — Risk / Return Rank

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

PGTQX

PGTQX Risk / Return Rank: 9
PGTQX Sharpe Ratio Rank: 10
PGTQX Sortino Ratio Rank: 10
PGTQX Omega Ratio Rank: 9
PGTQX Calmar Ratio Rank: 9
PGTQX Martin Ratio Rank: 9

AAFTX

AAFTX Risk / Return Rank: 57
AAFTX Sharpe Ratio Rank: 57
AAFTX Sortino Ratio Rank: 57
AAFTX Omega Ratio Rank: 57
AAFTX Calmar Ratio Rank: 50
AAFTX Martin Ratio Rank: 61

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.

PGTQX vs. AAFTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Global Total Return Fund - Class R6 (PGTQX) and American Funds 2035 Target Date Retirement Fund (AAFTX). 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.

	PGTQX	AAFTX	Difference
Sharpe ratio Return per unit of total volatility	0.77	2.23	-1.46
Sortino ratio Return per unit of downside risk	1.17	3.19	-2.02
Omega ratio Gain probability vs. loss probability	1.14	1.42	-0.28
Calmar ratio Return relative to maximum drawdown	0.90	2.70	-1.80
Martin ratio Return relative to average drawdown	2.79	12.07	-9.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PGTQX vs. AAFTX - Sharpe Ratio Comparison

The current PGTQX Sharpe Ratio is 0.77, which is lower than the AAFTX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of PGTQX and AAFTX, 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

	PGTQX	AAFTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.77	2.23	-1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.22	0.69	-0.91
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	0.82	-0.74
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.53	-0.41

Drawdowns

PGTQX vs. AAFTX - Drawdown Comparison

The maximum PGTQX drawdown since its inception was -44.72%, smaller than the maximum AAFTX drawdown of -49.89%. Use the drawdown chart below to compare losses from any high point for PGTQX and AAFTX.

Drawdown Indicators

	PGTQX	AAFTX	Difference
Max Drawdown Largest peak-to-trough decline	-44.72%	-49.89%	+5.17%
Max Drawdown (1Y) Largest decline over 1 year	-4.55%	-6.99%	+2.44%
Max Drawdown (3Y) Largest decline over 3 years	-6.80%	-10.58%	+3.78%
Max Drawdown (5Y) Largest decline over 5 years	-31.46%	-23.31%	-8.15%
Max Drawdown (10Y) Largest decline over 10 years	-44.72%	-26.72%	-18.00%
Current Drawdown Current decline from peak	-26.79%	0.00%	-26.79%
Average Drawdown Average peak-to-trough decline	-20.18%	-6.80%	-13.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	1.56%	-0.10%

Volatility

PGTQX vs. AAFTX - Volatility Comparison

The current volatility for PGIM Global Total Return Fund - Class R6 (PGTQX) is 1.91%, while American Funds 2035 Target Date Retirement Fund (AAFTX) has a volatility of 2.54%. This indicates that PGTQX experiences smaller price fluctuations and is considered to be less risky than AAFTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGTQX	AAFTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.91%	2.54%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	4.06%	6.77%	-2.71%
Volatility (1Y) Calculated over the trailing 1-year period	5.28%	8.46%	-3.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.55%	11.44%	-4.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.52%	12.71%	+8.81%

PGTQX vs. AAFTX - Expense Ratio Comparison

PGTQX has a 0.54% expense ratio, which is higher than AAFTX's 0.33% expense ratio.

Dividends

PGTQX vs. AAFTX - Dividend Comparison

PGTQX's dividend yield for the trailing twelve months is around 4.01%, less than AAFTX's 5.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAFTX American Funds 2035 Target Date Retirement Fund	5.59%	5.99%	4.26%	2.61%	5.43%	5.25%	3.53%	4.21%	4.80%	2.38%	3.52%	5.63%
PGTQX PGIM Global Total Return Fund - Class R6	4.01%	4.00%	4.47%	2.96%	3.53%	3.36%	3.94%	8.65%	3.63%	3.41%	4.02%	3.85%

Frequently Asked Questions

Can I hold both PGTQX and AAFTX in my portfolio?

PGTQX and AAFTX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGTQX or AAFTX?

AAFTX has higher volatility (2.54%) compared to PGTQX (1.91%). In terms of maximum drawdown, PGTQX dropped -44.72% vs AAFTX's -49.89%.

Which has better risk-adjusted returns?

AAFTX currently has the higher Sharpe Ratio (2.23 vs 0.77), 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.