PJDZX vs. SPY

Last updated Jun 24, 2026

PJDZX (PGIM Jennison Rising Dividend Fund) and SPY (State Street SPDR S&P 500 ETF) are both funds - PJDZX is a Large Cap Blend Equities fund managed by PGIM, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, PJDZX returned 14.98%/yr vs 15.53%/yr for SPY. Their correlation of 0.90 suggests significant overlap in exposure. PJDZX charges 0.99%/yr vs 0.09%/yr for SPY.

Performance

PJDZX vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison Rising Dividend Fund (PJDZX) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PJDZX achieves a 12.24% return, which is significantly higher than SPY's 8.15% return. Both investments have delivered pretty close results over the past 10 years, with PJDZX having a 14.98% annualized return and SPY not far ahead at 15.53%.

PJDZX

• 1D: 0.73%
• 1M: 1.74%
• YTD: 12.24%
• 6M: 11.58%
• 1Y: 24.98%
• 3Y*: 27.37%
• 5Y*: 14.81%
• 10Y*: 14.98%

SPY

• 1D: -1.45%
• 1M: -1.36%
• YTD: 8.15%
• 6M: 7.20%
• 1Y: 23.59%
• 3Y*: 20.68%
• 5Y*: 13.05%
• 10Y*: 15.53%

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

PJDZX vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PJDZX PGIM Jennison Rising Dividend Fund	12.24%	18.84%	40.98%	8.67%	-10.35%	24.62%	13.96%	32.01%	-7.14%	17.53%
SPY State Street SPDR S&P 500 ETF	8.15%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between PJDZX and SPY is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Mar 6, 2014	0.90

The correlation between PJDZX and SPY shifts across timeframes, from 0.78 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PJDZX vs. SPY — Risk / Return Rank

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

PJDZX

PJDZX Risk / Return Rank: 81
PJDZX Sharpe Ratio Rank: 79
PJDZX Sortino Ratio Rank: 76
PJDZX Omega Ratio Rank: 71
PJDZX Calmar Ratio Rank: 87
PJDZX Martin Ratio Rank: 91

SPY

SPY Risk / Return Rank: 59
SPY Sharpe Ratio Rank: 58
SPY Sortino Ratio Rank: 56
SPY Omega Ratio Rank: 57
SPY Calmar Ratio Rank: 56
SPY Martin Ratio Rank: 67

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.

PJDZX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison Rising Dividend Fund (PJDZX) and State Street SPDR S&P 500 ETF (SPY). 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.

	PJDZX	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.90	+0.49
Sortino ratio: Return per unit of downside risk	3.36	2.58	+0.77
Omega ratio: Gain probability vs. loss probability	1.43	1.34	+0.08
Calmar ratio: Return relative to maximum drawdown	4.02	2.67	+1.35
Martin ratio: Return relative to average drawdown	17.33	11.92	+5.41

PJDZX vs. SPY - Sharpe Ratio Comparison

The current PJDZX Sharpe Ratio is 2.39, which is comparable to the SPY Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of PJDZX and SPY, 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

PJDZX vs. SPY - Drawdown Comparison

The maximum PJDZX drawdown since its inception was -33.59%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PJDZX and SPY.

Drawdown Indicators

	PJDZX	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-33.59%	-55.19%	+21.60%
Max Drawdown (1Y) Largest decline over 1 year	-6.54%	-8.88%	+2.34%
Max Drawdown (3Y) Largest decline over 3 years	-16.11%	-18.76%	+2.65%
Max Drawdown (5Y) Largest decline over 5 years	-17.57%	-24.50%	+6.93%
Max Drawdown (10Y) Largest decline over 10 years	-33.59%	-33.72%	+0.13%
Current Drawdown Current decline from peak	0.00%	-3.17%	+3.17%
Average Drawdown Average peak-to-trough decline	-3.98%	-9.04%	+5.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	1.98%	-0.47%

Volatility

PJDZX vs. SPY - Volatility Comparison

The current volatility for PGIM Jennison Rising Dividend Fund (PJDZX) is 3.74%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 4.87%. This indicates that PJDZX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PJDZX	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	4.87%	-1.13%
Volatility (6M) Calculated over the trailing 6-month period	8.89%	9.85%	-0.96%
Volatility (1Y) Calculated over the trailing 1-year period	11.02%	12.50%	-1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.48%	17.15%	-0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.33%	17.95%	-0.62%

PJDZX vs. SPY - Expense Ratio Comparison

PJDZX has a 0.99% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

PJDZX vs. SPY - Dividend Comparison

PJDZX's dividend yield for the trailing twelve months is around 5.69%, more than SPY's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PJDZX PGIM Jennison Rising Dividend Fund	5.69%	6.44%	34.62%	1.21%	0.93%	8.48%	4.75%	4.32%	10.34%	1.83%	1.48%	1.31%
SPY State Street SPDR S&P 500 ETF	1.03%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both PJDZX and SPY in my portfolio?

PJDZX and SPY have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PJDZX or SPY?

SPY has higher volatility (4.87%) compared to PJDZX (3.74%). In terms of maximum drawdown, PJDZX dropped -33.59% vs SPY's -55.19%.

Which has better risk-adjusted returns?

PJDZX currently has the higher Sharpe Ratio (2.39 vs 1.90), 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.