PIMSX vs. SDMZX

Last updated Aug 1, 2026

PIMSX (Virtus Newfleet Multi-Sector S/T Bd I) and SDMZX (PGIM Short Duration Multi-Sector Bond Fund) are both Short-Term Bond funds. Over the past 10 years, PIMSX returned 2.99%/yr vs 2.98%/yr for SDMZX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. PIMSX charges 0.65%/yr vs 0.46%/yr for SDMZX.

Performance

PIMSX vs. SDMZX - 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 Duration Multi-Sector Bond Fund (SDMZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PIMSX achieves a 1.42% return, which is significantly higher than SDMZX's 0.95% return. Both investments have delivered pretty close results over the past 10 years, with PIMSX having a 2.99% annualized return and SDMZX not far behind at 2.98%.

PIMSX

• 1D: 0.00%
• 1M: -0.44%
• 6M: 0.81%
• YTD: 1.42%
• 1Y: 3.66%
• 3Y*: 5.74%
• 5Y*: 2.82%
• 10Y*: 2.99%
• ALL TIME*: 3.77%

SDMZX

• 1D: 0.11%
• 1M: -0.34%
• 6M: 0.46%
• YTD: 0.95%
• 1Y: 3.43%
• 3Y*: 5.38%
• 5Y*: 2.66%
• 10Y*: 2.98%
• ALL TIME*: 2.85%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PIMSX Virtus Newfleet Multi-Sector S/T Bd I	$0.00	$0.00	$0.00
SDMZX PGIM Short Duration Multi-Sector Bond Fund	$0.00	$0.00	$0.00

PIMSX vs. SDMZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PIMSX Virtus Newfleet Multi-Sector S/T Bd I	1.42%	6.08%	5.90%	7.16%	-5.52%	0.20%	4.58%	6.40%	-0.53%	3.93%
SDMZX PGIM Short Duration Multi-Sector Bond Fund	0.95%	6.18%	5.64%	6.25%	-4.82%	-0.19%	3.97%	7.92%	0.95%	3.96%

Correlation

The correlation between PIMSX and SDMZX is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (10Y) Provides a long-term view across more market conditions.	0.62
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.60

The correlation between PIMSX and SDMZX has been stable across timeframes, ranging from 0.60 to 0.65 - a consistent structural relationship.

Return for Risk

PIMSX vs. SDMZX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PIMSX

PIMSX Risk / Return Rank: 87
PIMSX Sharpe Ratio Rank: 76
PIMSX Sortino Ratio Rank: 85
PIMSX Omega Ratio Rank: 91
PIMSX Calmar Ratio Rank: 89
PIMSX Martin Ratio Rank: 91

SDMZX

SDMZX Risk / Return Rank: 63
SDMZX Sharpe Ratio Rank: 52
SDMZX Sortino Ratio Rank: 66
SDMZX Omega Ratio Rank: 85
SDMZX Calmar Ratio Rank: 71
SDMZX Martin Ratio Rank: 42

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PIMSX vs. SDMZX - 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 Duration Multi-Sector Bond Fund (SDMZX). 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	SDMZX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.33	+0.46
Sortino ratio: Return per unit of downside risk	3.07	2.21	+0.86
Omega ratio: Gain probability vs. loss probability	1.51	1.41	+0.10
Calmar ratio: Return relative to maximum drawdown	3.31	2.28	+1.03
Martin ratio: Return relative to average drawdown	12.99	5.93	+7.07

PIMSX vs. SDMZX - Sharpe Ratio Comparison

The current PIMSX Sharpe Ratio is 1.80, which is higher than the SDMZX Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of PIMSX and SDMZX, 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. SDMZX - Drawdown Comparison

The maximum PIMSX drawdown since its inception was -18.10%, which is greater than SDMZX's maximum drawdown of -9.76%. Use the drawdown chart below to compare losses from any high point for PIMSX and SDMZX.

Drawdown Indicators

	PIMSX	SDMZX	Difference
Max Drawdown Largest peak-to-trough decline	-18.10%	-9.76%	-8.34%
Max Drawdown (1Y) Largest decline over 1 year	-1.30%	-1.85%	+0.55%
Max Drawdown (3Y) Largest decline over 3 years	-1.30%	-1.85%	+0.55%
Max Drawdown (5Y) Largest decline over 5 years	-8.06%	-8.51%	+0.45%
Max Drawdown (10Y) Largest decline over 10 years	-10.69%	-9.76%	-0.93%
Current Drawdown Current decline from peak	-0.44%	-1.62%	+1.18%
Average Drawdown Average peak-to-trough decline	-1.48%	-0.99%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	0.71%	-0.38%

Volatility

PIMSX vs. SDMZX - Volatility Comparison

Virtus Newfleet Multi-Sector S/T Bd I (PIMSX) and PGIM Short Duration Multi-Sector Bond Fund (SDMZX) have volatilities of 0.54% and 0.52%, 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

	PIMSX	SDMZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.54%	0.52%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	1.94%	2.86%	-0.92%
Volatility (1Y) Calculated over the trailing 1-year period	2.40%	3.15%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.73%	2.57%	+0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.72%	2.58%	+0.14%

PIMSX vs. SDMZX - Expense Ratio Comparison

PIMSX has a 0.65% expense ratio, which is higher than SDMZX's 0.46% expense ratio.

Dividends

PIMSX vs. SDMZX - Dividend Comparison

PIMSX's dividend yield for the trailing twelve months is around 4.28%, which matches SDMZX's 4.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PIMSX Virtus Newfleet Multi-Sector S/T Bd I	4.28%	4.77%	4.60%	3.66%	2.77%	1.89%	2.92%	3.18%	3.16%	3.23%	3.16%	3.18%
SDMZX PGIM Short Duration Multi-Sector Bond Fund	4.30%	4.62%	4.57%	3.36%	4.70%	2.76%	3.10%	6.18%	3.47%	2.64%	2.76%	3.34%

Frequently Asked Questions

Can I hold both PIMSX and SDMZX in my portfolio?

PIMSX and SDMZX have a correlation of 0.65, 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 SDMZX?

PIMSX has higher volatility (0.54%) compared to SDMZX (0.52%). In terms of maximum drawdown, PIMSX dropped -18.10% vs SDMZX's -9.76%.

Which has better risk-adjusted returns?

PIMSX currently has the higher Sharpe Ratio (1.80 vs 1.33), 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.