PJNQX vs. BCX

Last updated Jun 24, 2026

PJNQX (PGIM Jennison Natural Resources R6) and BCX (Blackrock Resources & Commodities Strategy Trust) are both Natural Resources funds. Over the past 10 years, PJNQX returned 11.38%/yr vs 11.74%/yr for BCX. A 0.74 correlation means they provide meaningful diversification when combined. PJNQX charges 0.82%/yr vs 1.10%/yr for BCX.

Performance

PJNQX vs. BCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison Natural Resources R6 (PJNQX) and Blackrock Resources & Commodities Strategy Trust (BCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PJNQX achieves a 18.00% return, which is significantly higher than BCX's 7.04% return. Both investments have delivered pretty close results over the past 10 years, with PJNQX having a 11.38% annualized return and BCX not far ahead at 11.74%.

PJNQX

• 1D: 0.87%
• 1M: -3.20%
• YTD: 18.00%
• 6M: 16.30%
• 1Y: 48.28%
• 3Y*: 20.64%
• 5Y*: 16.12%
• 10Y*: 11.38%

BCX

• 1D: -1.05%
• 1M: -5.09%
• YTD: 7.04%
• 6M: 6.17%
• 1Y: 31.19%
• 3Y*: 16.50%
• 5Y*: 10.88%
• 10Y*: 11.74%

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

PJNQX vs. BCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PJNQX PGIM Jennison Natural Resources R6	18.00%	39.20%	1.23%	-1.78%	24.97%	27.84%	11.82%	17.07%	-27.53%	5.44%
BCX Blackrock Resources & Commodities Strategy Trust	7.04%	40.37%	3.18%	-4.79%	12.80%	32.90%	0.04%	23.80%	-22.55%	26.76%

Correlation

The correlation between PJNQX and BCX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Mar 29, 2011	0.74

The correlation between PJNQX and BCX has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.

Return for Risk

PJNQX vs. BCX — Risk / Return Rank

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

PJNQX

PJNQX Risk / Return Rank: 70
PJNQX Sharpe Ratio Rank: 68
PJNQX Sortino Ratio Rank: 49
PJNQX Omega Ratio Rank: 57
PJNQX Calmar Ratio Rank: 90
PJNQX Martin Ratio Rank: 85

BCX

BCX Risk / Return Rank: 32
BCX Sharpe Ratio Rank: 38
BCX Sortino Ratio Rank: 32
BCX Omega Ratio Rank: 36
BCX Calmar Ratio Rank: 30
BCX Martin Ratio Rank: 23

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.

PJNQX vs. BCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison Natural Resources R6 (PJNQX) and Blackrock Resources & Commodities Strategy Trust (BCX). 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.

	PJNQX	BCX	Difference
Sharpe ratio: Return per unit of total volatility	2.21	1.67	+0.55
Sortino ratio: Return per unit of downside risk	2.71	2.20	+0.52
Omega ratio: Gain probability vs. loss probability	1.38	1.30	+0.09
Calmar ratio: Return relative to maximum drawdown	4.36	1.94	+2.42
Martin ratio: Return relative to average drawdown	14.85	5.14	+9.71

PJNQX vs. BCX - Sharpe Ratio Comparison

The current PJNQX Sharpe Ratio is 2.21, which is higher than the BCX Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of PJNQX and BCX, 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

PJNQX vs. BCX - Drawdown Comparison

The maximum PJNQX drawdown since its inception was -74.06%, which is greater than BCX's maximum drawdown of -62.36%. Use the drawdown chart below to compare losses from any high point for PJNQX and BCX.

Drawdown Indicators

	PJNQX	BCX	Difference
Max Drawdown Largest peak-to-trough decline	-74.06%	-62.36%	-11.70%
Max Drawdown (1Y) Largest decline over 1 year	-11.03%	-16.17%	+5.14%
Max Drawdown (3Y) Largest decline over 3 years	-24.94%	-16.17%	-8.77%
Max Drawdown (5Y) Largest decline over 5 years	-29.20%	-29.22%	+0.02%
Max Drawdown (10Y) Largest decline over 10 years	-63.55%	-59.23%	-4.32%
Current Drawdown Current decline from peak	-6.82%	-14.80%	+7.98%
Average Drawdown Average peak-to-trough decline	-26.52%	-19.61%	-6.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	6.08%	-2.85%

Volatility

PJNQX vs. BCX - Volatility Comparison

PGIM Jennison Natural Resources R6 (PJNQX) has a higher volatility of 7.82% compared to Blackrock Resources & Commodities Strategy Trust (BCX) at 5.37%. This indicates that PJNQX's price experiences larger fluctuations and is considered to be riskier than BCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PJNQX	BCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.82%	5.37%	+2.45%
Volatility (6M) Calculated over the trailing 6-month period	17.78%	16.34%	+1.44%
Volatility (1Y) Calculated over the trailing 1-year period	21.79%	18.82%	+2.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.34%	21.36%	+3.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.46%	23.53%	+2.93%

PJNQX vs. BCX - Expense Ratio Comparison

PJNQX has a 0.82% expense ratio, which is lower than BCX's 1.10% expense ratio.

Dividends

PJNQX vs. BCX - Dividend Comparison

PJNQX's dividend yield for the trailing twelve months is around 1.05%, less than BCX's 7.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCX Blackrock Resources & Commodities Strategy Trust	7.36%	7.62%	7.49%	7.00%	5.52%	5.13%	7.10%	7.67%	8.77%	6.19%	6.98%	11.38%
PJNQX PGIM Jennison Natural Resources R6	1.05%	1.24%	1.35%	2.27%	3.02%	1.22%	1.60%	2.14%	2.12%	0.00%	1.93%	0.00%

Frequently Asked Questions

Can I hold both PJNQX and BCX in my portfolio?

PJNQX and BCX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PJNQX or BCX?

PJNQX has higher volatility (7.82%) compared to BCX (5.37%). In terms of maximum drawdown, PJNQX dropped -74.06% vs BCX's -62.36%.

Which has better risk-adjusted returns?

PJNQX currently has the higher Sharpe Ratio (2.21 vs 1.67), 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.