PQCNX vs. PRJZX

Last updated Jun 4, 2026

PQCNX (PGIM Core Conservative Bond Fund) and PRJZX (PGIM Jennison Global Opportunities Fund) are both mutual funds - PQCNX is a Intermediate Core Bond fund managed by PGIM, while PRJZX is a Global Equities fund managed by PGIM. Over the past 5 years, PQCNX returned -0.24%/yr vs 7.57%/yr for PRJZX. At a 0.06 correlation, their price movements are largely independent. PQCNX charges 0.50%/yr vs 0.93%/yr for PRJZX.

Performance

PQCNX vs. PRJZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Core Conservative Bond Fund (PQCNX) and PGIM Jennison Global Opportunities Fund (PRJZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PQCNX achieves a 0.48% return, which is significantly lower than PRJZX's 9.40% return.

PQCNX

• 1D: 0.00%
• 1M: 0.47%
• YTD: 0.48%
• 6M: 0.37%
• 1Y: 5.53%
• 3Y*: 3.94%
• 5Y*: -0.24%
• 10Y*: —

PRJZX

• 1D: 0.62%
• 1M: 7.23%
• YTD: 9.40%
• 6M: 6.03%
• 1Y: 15.03%
• 3Y*: 18.17%
• 5Y*: 7.57%
• 10Y*: 16.17%

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

PQCNX vs. PRJZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PQCNX PGIM Core Conservative Bond Fund	0.48%	7.13%	1.44%	4.88%	-14.28%	-2.30%	7.01%	8.41%	-0.38%	1.89%
PRJZX PGIM Jennison Global Opportunities Fund	9.40%	4.91%	28.69%	41.55%	-39.60%	7.45%	74.45%	34.13%	-2.61%	41.93%

Correlation

The correlation between PQCNX and PRJZX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.06

The correlation between PQCNX and PRJZX shifts across timeframes, from 0.06 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PQCNX vs. PRJZX — Risk / Return Rank

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

PQCNX

PQCNX Risk / Return Rank: 22
PQCNX Sharpe Ratio Rank: 22
PQCNX Sortino Ratio Rank: 23
PQCNX Omega Ratio Rank: 20
PQCNX Calmar Ratio Rank: 23
PQCNX Martin Ratio Rank: 20

PRJZX

PRJZX Risk / Return Rank: 9
PRJZX Sharpe Ratio Rank: 10
PRJZX Sortino Ratio Rank: 10
PRJZX Omega Ratio Rank: 10
PRJZX Calmar Ratio Rank: 7
PRJZX Martin Ratio Rank: 7

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.

PQCNX vs. PRJZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Core Conservative Bond Fund (PQCNX) and PGIM Jennison Global Opportunities Fund (PRJZX). 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.

	PQCNX	PRJZX	Difference
Sharpe ratio: Return per unit of total volatility	1.35	0.78	+0.57
Sortino ratio: Return per unit of downside risk	2.02	1.19	+0.83
Omega ratio: Gain probability vs. loss probability	1.24	1.15	+0.09
Calmar ratio: Return relative to maximum drawdown	1.75	0.71	+1.04
Martin ratio: Return relative to average drawdown	5.27	2.14	+3.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PQCNX vs. PRJZX - Sharpe Ratio Comparison

The current PQCNX Sharpe Ratio is 1.35, which is higher than the PRJZX Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of PQCNX and PRJZX, 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

	PQCNX	PRJZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	0.78	+0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	0.32	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.68	-0.42

Drawdowns

PQCNX vs. PRJZX - Drawdown Comparison

The maximum PQCNX drawdown since its inception was -20.33%, smaller than the maximum PRJZX drawdown of -48.22%. Use the drawdown chart below to compare losses from any high point for PQCNX and PRJZX.

Drawdown Indicators

	PQCNX	PRJZX	Difference
Max Drawdown Largest peak-to-trough decline	-20.33%	-48.22%	+27.89%
Max Drawdown (1Y) Largest decline over 1 year	-3.17%	-21.57%	+18.40%
Max Drawdown (3Y) Largest decline over 3 years	-6.37%	-25.19%	+18.82%
Max Drawdown (5Y) Largest decline over 5 years	-19.42%	-48.22%	+28.80%
Max Drawdown (10Y) Largest decline over 10 years	—	-48.22%	—
Current Drawdown Current decline from peak	-4.48%	0.00%	-4.48%
Average Drawdown Average peak-to-trough decline	-6.07%	-9.99%	+3.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	7.14%	-6.09%

Volatility

PQCNX vs. PRJZX - Volatility Comparison

The current volatility for PGIM Core Conservative Bond Fund (PQCNX) is 1.33%, while PGIM Jennison Global Opportunities Fund (PRJZX) has a volatility of 7.02%. This indicates that PQCNX experiences smaller price fluctuations and is considered to be less risky than PRJZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PQCNX	PRJZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	7.02%	-5.69%
Volatility (6M) Calculated over the trailing 6-month period	2.96%	16.14%	-13.18%
Volatility (1Y) Calculated over the trailing 1-year period	4.13%	19.73%	-15.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.11%	23.87%	-17.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.10%	23.22%	-18.12%

PQCNX vs. PRJZX - Expense Ratio Comparison

PQCNX has a 0.50% expense ratio, which is lower than PRJZX's 0.93% expense ratio.

Dividends

PQCNX vs. PRJZX - Dividend Comparison

PQCNX's dividend yield for the trailing twelve months is around 4.24%, less than PRJZX's 22.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PQCNX PGIM Core Conservative Bond Fund	4.24%	4.17%	3.91%	2.74%	1.98%	2.13%	3.13%	2.71%	2.66%	0.97%
PRJZX PGIM Jennison Global Opportunities Fund	22.60%	24.73%	10.59%	0.00%	0.00%	10.12%	1.59%	2.42%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PQCNX and PRJZX in my portfolio?

PQCNX and PRJZX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PQCNX or PRJZX?

PRJZX has higher volatility (7.02%) compared to PQCNX (1.33%). In terms of maximum drawdown, PQCNX dropped -20.33% vs PRJZX's -48.22%.

Which has better risk-adjusted returns?

PQCNX currently has the higher Sharpe Ratio (1.35 vs 0.78), 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.