PHEZX vs. PTRQX
PHEZX (PGIM Global Total Return (USD Hedged) Fund) and PTRQX (PGIM Total Return Bond R6) are both mutual funds - PHEZX is a Global Bonds fund managed by PGIM, while PTRQX is a Intermediate Core-Plus Bond fund managed by PGIM. Over the past 5 years, PHEZX returned 0.81%/yr vs 0.79%/yr for PTRQX. Their correlation of 0.86 suggests significant overlap in exposure. PHEZX charges 0.63%/yr vs 0.39%/yr for PTRQX.
Performance
PHEZX vs. PTRQX - Performance Comparison
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Returns By Period
In the year-to-date period, PHEZX achieves a 0.89% return, which is significantly higher than PTRQX's 0.51% return.
PHEZX
- 1D
- 0.12%
- 1M
- 1.30%
- YTD
- 0.89%
- 6M
- 1.13%
- 1Y
- 4.30%
- 3Y*
- 6.17%
- 5Y*
- 0.81%
- 10Y*
- —
PTRQX
- 1D
- 0.08%
- 1M
- 0.84%
- YTD
- 0.51%
- 6M
- 0.82%
- 1Y
- 4.93%
- 3Y*
- 5.35%
- 5Y*
- 0.79%
- 10Y*
- 2.52%
PHEZX vs. PTRQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHEZX PGIM Global Total Return (USD Hedged) Fund | 0.89% | 7.27% | 4.50% | 10.63% | -16.87% | -3.69% | 8.42% | 13.14% | 0.07% | -0.17% |
PTRQX PGIM Total Return Bond R6 | 0.51% | 7.81% | 3.06% | 7.80% | -14.30% | -1.37% | 8.13% | 10.85% | -0.73% | 0.53% |
Correlation
The correlation between PHEZX and PTRQX 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 | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2017 | 0.86 |
The correlation between PHEZX and PTRQX has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.
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Return for Risk
PHEZX vs. PTRQX — Risk / Return Rank
PHEZX
PTRQX
PHEZX vs. PTRQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Global Total Return (USD Hedged) Fund (PHEZX) and PGIM Total Return Bond R6 (PTRQX). 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.
| PHEZX | PTRQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.22 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.31 | 1.69 | -0.39 |
| Martin ratioReturn relative to average drawdown | 3.90 | 4.86 | -0.96 |
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Drawdowns
PHEZX vs. PTRQX - Drawdown Comparison
The maximum PHEZX drawdown since its inception was -23.83%, which is greater than PTRQX's maximum drawdown of -20.72%. Use the drawdown chart below to compare losses from any high point for PHEZX and PTRQX.
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Drawdown Indicators
| PHEZX | PTRQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.83% | -20.72% | -3.11% |
Max Drawdown (1Y)Largest decline over 1 year | -3.49% | -3.08% | -0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -3.49% | -5.47% | +1.98% |
Max Drawdown (5Y)Largest decline over 5 years | -22.53% | -20.69% | -1.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.72% | — |
Current DrawdownCurrent decline from peak | -1.21% | -1.51% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -6.39% | -3.28% | -3.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.07% | +0.10% |
Volatility
PHEZX vs. PTRQX - Volatility Comparison
The current volatility for PGIM Global Total Return (USD Hedged) Fund (PHEZX) is 1.20%, while PGIM Total Return Bond R6 (PTRQX) has a volatility of 1.82%. This indicates that PHEZX experiences smaller price fluctuations and is considered to be less risky than PTRQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHEZX | PTRQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.82% | -0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 2.97% | 3.26% | -0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.56% | 4.21% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.52% | 6.02% | -1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.45% | 5.25% | -0.80% |
PHEZX vs. PTRQX - Expense Ratio Comparison
PHEZX has a 0.63% expense ratio, which is higher than PTRQX's 0.39% expense ratio.
Dividends
PHEZX vs. PTRQX - Dividend Comparison
PHEZX's dividend yield for the trailing twelve months is around 4.11%, less than PTRQX's 4.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHEZX PGIM Global Total Return (USD Hedged) Fund | 4.11% | 4.09% | 3.80% | 3.62% | 4.59% | 3.06% | 3.17% | 4.44% | 5.96% | 0.13% | 0.00% | 0.00% |
PTRQX PGIM Total Return Bond R6 | 4.68% | 4.63% | 4.89% | 4.70% | 5.83% | 2.82% | 3.05% | 6.95% | 3.99% | 2.93% | 4.01% | 3.11% |
Frequently Asked Questions
PHEZX and PTRQX 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.
PTRQX has higher volatility (1.82%) compared to PHEZX (1.20%). In terms of maximum drawdown, PHEZX dropped -23.83% vs PTRQX's -20.72%.
PHEZX currently has the higher Sharpe Ratio (1.28 vs 1.24), 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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