PIMSX vs. PIFZX

Last updated Jun 24, 2026

PIMSX (Virtus Newfleet Multi-Sector S/T Bd I) and PIFZX (PGIM Short-Term Corporate Bond Fund Class Z) are both Short-Term Bond funds. Over the past 10 years, PIMSX returned 3.11%/yr vs 2.46%/yr for PIFZX. A 0.56 correlation means they provide meaningful diversification when combined. PIMSX charges 0.65%/yr vs 0.47%/yr for PIFZX.

Performance

PIMSX vs. PIFZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Newfleet Multi-Sector S/T Bd I (PIMSX) and PGIM Short-Term Corporate Bond Fund Class Z (PIFZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PIMSX achieves a 1.25% return, which is significantly higher than PIFZX's 0.42% return. Over the past 10 years, PIMSX has outperformed PIFZX with an annualized return of 3.11%, while PIFZX has yielded a comparatively lower 2.46% annualized return.

PIMSX

• 1D: -0.22%
• 1M: 0.40%
• YTD: 1.25%
• 6M: 1.66%
• 1Y: 4.76%
• 3Y*: 6.07%
• 5Y*: 2.87%
• 10Y*: 3.11%

PIFZX

• 1D: -0.09%
• 1M: 0.36%
• YTD: 0.42%
• 6M: 0.85%
• 1Y: 3.99%
• 3Y*: 5.22%
• 5Y*: 1.98%
• 10Y*: 2.46%

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

PIMSX vs. PIFZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PIMSX Virtus Newfleet Multi-Sector S/T Bd I	1.25%	6.08%	5.90%	7.16%	-5.52%	0.20%	4.58%	6.40%	-0.53%	3.93%
PIFZX PGIM Short-Term Corporate Bond Fund Class Z	0.42%	6.66%	4.47%	6.20%	-6.85%	-0.60%	5.44%	6.76%	0.62%	2.23%

Correlation

The correlation between PIMSX and PIFZX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jun 6, 2008	0.56

The correlation between PIMSX and PIFZX shifts across timeframes, from 0.56 (all time) to 0.72 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PIMSX vs. PIFZX — Risk / Return Rank

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

PIMSX

PIMSX Risk / Return Rank: 76
PIMSX Sharpe Ratio Rank: 51
PIMSX Sortino Ratio Rank: 78
PIMSX Omega Ratio Rank: 87
PIMSX Calmar Ratio Rank: 83
PIMSX Martin Ratio Rank: 83

PIFZX

PIFZX Risk / Return Rank: 50
PIFZX Sharpe Ratio Rank: 45
PIFZX Sortino Ratio Rank: 63
PIFZX Omega Ratio Rank: 60
PIFZX Calmar Ratio Rank: 42
PIFZX Martin Ratio Rank: 42

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.

PIMSX vs. PIFZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Newfleet Multi-Sector S/T Bd I (PIMSX) and PGIM Short-Term Corporate Bond Fund Class Z (PIFZX). 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.

	PIMSX	PIFZX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.82	+0.13
Sortino ratio: Return per unit of downside risk	3.39	3.04	+0.36
Omega ratio: Gain probability vs. loss probability	1.56	1.39	+0.17
Calmar ratio: Return relative to maximum drawdown	3.66	2.36	+1.30
Martin ratio: Return relative to average drawdown	14.46	8.46	+6.00

PIMSX vs. PIFZX - Sharpe Ratio Comparison

The current PIMSX Sharpe Ratio is 1.95, which is comparable to the PIFZX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of PIMSX and PIFZX, 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

PIMSX vs. PIFZX - Drawdown Comparison

The maximum PIMSX drawdown since its inception was -18.10%, which is greater than PIFZX's maximum drawdown of -10.46%. Use the drawdown chart below to compare losses from any high point for PIMSX and PIFZX.

Drawdown Indicators

	PIMSX	PIFZX	Difference
Max Drawdown Largest peak-to-trough decline	-18.10%	-10.46%	-7.64%
Max Drawdown (1Y) Largest decline over 1 year	-1.30%	-1.74%	+0.44%
Max Drawdown (3Y) Largest decline over 3 years	-1.30%	-1.74%	+0.44%
Max Drawdown (5Y) Largest decline over 5 years	-8.06%	-10.46%	+2.40%
Max Drawdown (10Y) Largest decline over 10 years	-10.69%	-10.46%	-0.23%
Current Drawdown Current decline from peak	-0.44%	-0.70%	+0.26%
Average Drawdown Average peak-to-trough decline	-1.49%	-0.91%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	0.48%	-0.15%

Volatility

PIMSX vs. PIFZX - Volatility Comparison

Virtus Newfleet Multi-Sector S/T Bd I (PIMSX) has a higher volatility of 0.90% compared to PGIM Short-Term Corporate Bond Fund Class Z (PIFZX) at 0.81%. This indicates that PIMSX's price experiences larger fluctuations and is considered to be riskier than PIFZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PIMSX	PIFZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.90%	0.81%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	1.89%	1.71%	+0.18%
Volatility (1Y) Calculated over the trailing 1-year period	2.46%	2.26%	+0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.72%	2.94%	-0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.72%	2.68%	+0.04%

PIMSX vs. PIFZX - Expense Ratio Comparison

PIMSX has a 0.65% expense ratio, which is higher than PIFZX's 0.47% expense ratio.

Dividends

PIMSX vs. PIFZX - Dividend Comparison

PIMSX's dividend yield for the trailing twelve months is around 4.66%, more than PIFZX's 4.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PIFZX PGIM Short-Term Corporate Bond Fund Class Z	4.13%	3.99%	3.22%	2.85%	2.24%	1.99%	2.49%	2.85%	2.83%	2.77%	2.65%	2.82%
PIMSX Virtus Newfleet Multi-Sector S/T Bd I	4.66%	4.77%	4.60%	3.66%	2.77%	1.89%	2.92%	3.18%	3.16%	3.23%	3.16%	3.18%

Frequently Asked Questions

Can I hold both PIMSX and PIFZX in my portfolio?

PIMSX and PIFZX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PIMSX or PIFZX?

PIMSX has higher volatility (0.90%) compared to PIFZX (0.81%). In terms of maximum drawdown, PIMSX dropped -18.10% vs PIFZX's -10.46%.

Which has better risk-adjusted returns?

PIMSX currently has the higher Sharpe Ratio (1.95 vs 1.82), 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.