PGZ vs. GHY
PGZ (Principal Real Estate Income Fund) is a stock, while GHY (PGIM Global High Yield Fund) is High Yield Bonds fund managed by PGIM. Over the past 10 years, PGZ returned 4.48%/yr vs 6.80%/yr for GHY. Their 0.33 correlation means their historical movements had little consistent relationship.
Performance
PGZ vs. GHY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PGZ achieves a 9.73% return, which is significantly higher than GHY's -0.44% return. Over the past 10 years, PGZ has underperformed GHY with an annualized return of 4.48%, while GHY has yielded a comparatively higher 6.80% annualized return.
PGZ
- 1D
- 0.59%
- 1M
- 0.08%
- 6M
- 7.86%
- YTD
- 9.73%
- 1Y
- 11.77%
- 3Y*
- 15.02%
- 5Y*
- 3.28%
- 10Y*
- 4.48%
- ALL TIME*
- 4.67%
GHY
- 1D
- 0.26%
- 1M
- -2.30%
- 6M
- -4.46%
- YTD
- -0.44%
- 1Y
- -0.98%
- 3Y*
- 12.12%
- 5Y*
- 4.57%
- 10Y*
- 6.80%
- ALL TIME*
- 5.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.51M | $1.58M | $1.59M | |
| $196.91K | $199.33K | $211.80K |
PGZ vs. GHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGZ Principal Real Estate Income Fund | 9.73% | 14.50% | 17.99% | 4.05% | -27.98% | 38.70% | -36.50% | 36.77% | 3.92% | 18.23% |
GHY PGIM Global High Yield Fund | -0.44% | 10.46% | 20.25% | 17.29% | -20.04% | 12.73% | 6.33% | 26.51% | -3.54% | 4.38% |
Correlation
The correlation between PGZ and GHY is 0.38, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.38 |
Correlation (3Y) Balances recent behavior with more history. | 0.36 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.37 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2013 | 0.33 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PGZ vs. GHY — Risk / Return Rank
PGZ
GHY
PGZ vs. GHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Real Estate Income Fund (PGZ) and PGIM Global High Yield Fund (GHY). 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.
| PGZ | GHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | +1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.98 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | -0.13 | +1.29 |
| Martin ratioReturn relative to average drawdown | 4.28 | -0.32 | +4.61 |
Loading charts...
Drawdowns
PGZ vs. GHY - Drawdown Comparison
The maximum PGZ drawdown since its inception was -53.58%, which is greater than GHY's maximum drawdown of -41.35%. Use the drawdown chart below to compare losses from any high point for PGZ and GHY.
Loading charts...
Drawdown Indicators
| PGZ | GHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.58% | -41.35% | -12.23% |
Max Drawdown (1Y)Largest decline over 1 year | -9.82% | -11.94% | +2.12% |
Max Drawdown (3Y)Largest decline over 3 years | -10.56% | -16.36% | +5.80% |
Max Drawdown (5Y)Largest decline over 5 years | -35.34% | -29.50% | -5.84% |
Max Drawdown (10Y)Largest decline over 10 years | -53.58% | -41.35% | -12.23% |
Current DrawdownCurrent decline from peak | -6.52% | -5.61% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -16.03% | -6.01% | -10.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 4.67% | -2.02% |
Volatility
PGZ vs. GHY - Volatility Comparison
Principal Real Estate Income Fund (PGZ) has a higher volatility of 3.35% compared to PGIM Global High Yield Fund (GHY) at 3.04%. This indicates that PGZ's price experiences larger fluctuations and is considered to be riskier than GHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PGZ | GHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.35% | 3.04% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 9.44% | 8.69% | +0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.94% | 10.71% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.70% | 14.24% | +0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.80% | 15.34% | +6.46% |
Dividends
PGZ vs. GHY - Dividend Comparison
PGZ's dividend yield for the trailing twelve months is around 12.33%, more than GHY's 10.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHY PGIM Global High Yield Fund | 10.81% | 10.21% | 10.23% | 11.09% | 11.62% | 8.35% | 8.67% | 8.04% | 7.72% | 7.77% | 8.53% | 10.07% |
PGZ Principal Real Estate Income Fund | 12.33% | 12.59% | 12.75% | 13.33% | 11.86% | 6.32% | 10.34% | 6.25% | 7.98% | 9.51% | 10.90% | 10.40% |
Frequently Asked Questions
PGZ and GHY have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGZ has higher volatility (3.35%) compared to GHY (3.04%). In terms of maximum drawdown, PGZ dropped -53.58% vs GHY's -41.35%.
PGZ currently has the higher Sharpe Ratio (1.04 vs -0.14), 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.
Find the right allocation for PGZ and GHY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer