PJFAX vs. TPLGX

Last updated Jun 4, 2026

PJFAX (PGIM Jennison Growth Fund) and TPLGX (T. Rowe Price Institutional Large Cap Core Growth Fund) are both Large Cap Growth Equities funds. Over the past 10 years, PJFAX returned 20.29%/yr vs 16.69%/yr for TPLGX. With a 0.96 correlation, they move nearly in lockstep. PJFAX charges 0.97%/yr vs 0.57%/yr for TPLGX.

Performance

PJFAX vs. TPLGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison Growth Fund (PJFAX) and T. Rowe Price Institutional Large Cap Core Growth Fund (TPLGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PJFAX achieves a 9.23% return, which is significantly higher than TPLGX's 5.50% return. Over the past 10 years, PJFAX has outperformed TPLGX with an annualized return of 20.29%, while TPLGX has yielded a comparatively lower 16.69% annualized return.

PJFAX

• 1D: -0.63%
• 1M: 7.66%
• YTD: 9.23%
• 6M: 7.87%
• 1Y: 21.29%
• 3Y*: 29.27%
• 5Y*: 15.31%
• 10Y*: 20.29%

TPLGX

• 1D: -0.68%
• 1M: 5.13%
• YTD: 5.50%
• 6M: 5.29%
• 1Y: 21.82%
• 3Y*: 24.86%
• 5Y*: 11.77%
• 10Y*: 16.69%

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

PJFAX vs. TPLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PJFAX PGIM Jennison Growth Fund	9.23%	14.53%	48.10%	52.76%	-37.89%	15.65%	55.66%	45.04%	-1.24%	36.41%
TPLGX T. Rowe Price Institutional Large Cap Core Growth Fund	5.50%	18.66%	35.22%	49.63%	-38.49%	17.84%	34.70%	30.15%	2.18%	36.49%

Correlation

The correlation between PJFAX and TPLGX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Oct 2, 2003	0.96

The correlation between PJFAX and TPLGX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

PJFAX vs. TPLGX — Risk / Return Rank

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

PJFAX

PJFAX Risk / Return Rank: 18
PJFAX Sharpe Ratio Rank: 22
PJFAX Sortino Ratio Rank: 21
PJFAX Omega Ratio Rank: 21
PJFAX Calmar Ratio Rank: 13
PJFAX Martin Ratio Rank: 13

TPLGX

TPLGX Risk / Return Rank: 20
TPLGX Sharpe Ratio Rank: 26
TPLGX Sortino Ratio Rank: 23
TPLGX Omega Ratio Rank: 24
TPLGX Calmar Ratio Rank: 14
TPLGX Martin Ratio Rank: 15

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.

PJFAX vs. TPLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison Growth Fund (PJFAX) and T. Rowe Price Institutional Large Cap Core Growth Fund (TPLGX). 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.

	PJFAX	TPLGX	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.45	-0.10
Sortino ratio: Return per unit of downside risk	1.89	2.02	-0.13
Omega ratio: Gain probability vs. loss probability	1.24	1.25	-0.01
Calmar ratio: Return relative to maximum drawdown	1.24	1.31	-0.08
Martin ratio: Return relative to average drawdown	3.95	4.37	-0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PJFAX vs. TPLGX - Sharpe Ratio Comparison

The current PJFAX Sharpe Ratio is 1.35, which is comparable to the TPLGX Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of PJFAX and TPLGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PJFAX	TPLGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	1.45	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.49	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.73	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.57	-0.05

Drawdowns

PJFAX vs. TPLGX - Drawdown Comparison

The maximum PJFAX drawdown since its inception was -64.07%, which is greater than TPLGX's maximum drawdown of -54.57%. Use the drawdown chart below to compare losses from any high point for PJFAX and TPLGX.

Drawdown Indicators

	PJFAX	TPLGX	Difference
Max Drawdown Largest peak-to-trough decline	-64.07%	-54.57%	-9.50%
Max Drawdown (1Y) Largest decline over 1 year	-17.76%	-17.15%	-0.61%
Max Drawdown (3Y) Largest decline over 3 years	-24.05%	-28.23%	+4.18%
Max Drawdown (5Y) Largest decline over 5 years	-43.56%	-43.45%	-0.11%
Max Drawdown (10Y) Largest decline over 10 years	-43.56%	-43.45%	-0.11%
Current Drawdown Current decline from peak	-0.63%	-0.68%	+0.05%
Average Drawdown Average peak-to-trough decline	-20.35%	-8.67%	-11.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.55%	5.14%	+0.41%

Volatility

PJFAX vs. TPLGX - Volatility Comparison

PGIM Jennison Growth Fund (PJFAX) has a higher volatility of 3.85% compared to T. Rowe Price Institutional Large Cap Core Growth Fund (TPLGX) at 3.55%. This indicates that PJFAX's price experiences larger fluctuations and is considered to be riskier than TPLGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PJFAX	TPLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	3.55%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	12.34%	12.01%	+0.33%
Volatility (1Y) Calculated over the trailing 1-year period	16.27%	15.58%	+0.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.70%	24.30%	+0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.01%	22.90%	+1.11%

PJFAX vs. TPLGX - Expense Ratio Comparison

PJFAX has a 0.97% expense ratio, which is higher than TPLGX's 0.57% expense ratio.

Dividends

PJFAX vs. TPLGX - Dividend Comparison

PJFAX's dividend yield for the trailing twelve months is around 12.28%, less than TPLGX's 19.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PJFAX PGIM Jennison Growth Fund	12.28%	13.42%	24.62%	7.23%	2.77%	14.67%	9.02%	16.27%	6.06%	5.85%	4.12%	6.90%
TPLGX T. Rowe Price Institutional Large Cap Core Growth Fund	19.24%	20.30%	12.87%	3.70%	4.39%	8.81%	0.59%	0.60%	1.65%	1.39%	0.25%	0.44%

Frequently Asked Questions

Can I hold both PJFAX and TPLGX in my portfolio?

With a correlation of 0.93, PJFAX and TPLGX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PJFAX or TPLGX?

PJFAX has higher volatility (3.85%) compared to TPLGX (3.55%). In terms of maximum drawdown, PJFAX dropped -64.07% vs TPLGX's -54.57%.

Which has better risk-adjusted returns?

TPLGX currently has the higher Sharpe Ratio (1.45 vs 1.35), 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.