PQJCX vs. NCLEX

Last updated Jun 4, 2026

PQJCX (PGIM Jennison Small-Cap Core Equity Fund) and NCLEX (Nicholas Limited Edition Fund) are both Small Cap Growth Equities funds. Over the past 5 years, PQJCX returned 6.41%/yr vs -0.95%/yr for NCLEX. Their correlation of 0.91 suggests significant overlap in exposure. PQJCX charges 0.95%/yr vs 0.85%/yr for NCLEX.

Performance

PQJCX vs. NCLEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison Small-Cap Core Equity Fund (PQJCX) and Nicholas Limited Edition Fund (NCLEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PQJCX achieves a 11.11% return, which is significantly higher than NCLEX's -6.20% return.

PQJCX

• 1D: 0.93%
• 1M: 2.99%
• YTD: 11.11%
• 6M: 11.24%
• 1Y: 23.34%
• 3Y*: 17.56%
• 5Y*: 6.41%
• 10Y*: —

NCLEX

• 1D: -0.63%
• 1M: 1.63%
• YTD: -6.20%
• 6M: -7.32%
• 1Y: -11.96%
• 3Y*: 0.87%
• 5Y*: -0.95%
• 10Y*: 7.27%

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

PQJCX vs. NCLEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PQJCX PGIM Jennison Small-Cap Core Equity Fund	11.11%	1.89%	28.82%	14.96%	-24.07%	21.70%	38.85%	25.61%	-12.36%	18.36%
NCLEX Nicholas Limited Edition Fund	-6.20%	-10.41%	11.91%	17.17%	-23.71%	19.07%	22.67%	27.36%	-0.94%	19.48%

Correlation

The correlation between PQJCX and NCLEX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.91

The correlation between PQJCX and NCLEX shifts across timeframes, from 0.79 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PQJCX vs. NCLEX — Risk / Return Rank

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

PQJCX

PQJCX Risk / Return Rank: 28
PQJCX Sharpe Ratio Rank: 23
PQJCX Sortino Ratio Rank: 25
PQJCX Omega Ratio Rank: 22
PQJCX Calmar Ratio Rank: 34
PQJCX Martin Ratio Rank: 37

NCLEX

NCLEX Risk / Return Rank: 1
NCLEX Sharpe Ratio Rank: 1
NCLEX Sortino Ratio Rank: 1
NCLEX Omega Ratio Rank: 1
NCLEX Calmar Ratio Rank: 1
NCLEX Martin Ratio Rank: 1

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.

PQJCX vs. NCLEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison Small-Cap Core Equity Fund (PQJCX) and Nicholas Limited Edition Fund (NCLEX). 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.

	PQJCX	NCLEX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	-0.64	+2.03
Sortino ratio: Return per unit of downside risk	2.08	-0.81	+2.89
Omega ratio: Gain probability vs. loss probability	1.24	0.91	+0.34
Calmar ratio: Return relative to maximum drawdown	2.21	-0.51	+2.72
Martin ratio: Return relative to average drawdown	8.08	-1.06	+9.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PQJCX vs. NCLEX - Sharpe Ratio Comparison

The current PQJCX Sharpe Ratio is 1.39, which is higher than the NCLEX Sharpe Ratio of -0.64. The chart below compares the historical Sharpe Ratios of PQJCX and NCLEX, 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

	PQJCX	NCLEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	-0.64	+2.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	-0.05	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.51	-0.01

Drawdowns

PQJCX vs. NCLEX - Drawdown Comparison

The maximum PQJCX drawdown since its inception was -43.56%, smaller than the maximum NCLEX drawdown of -48.68%. Use the drawdown chart below to compare losses from any high point for PQJCX and NCLEX.

Drawdown Indicators

	PQJCX	NCLEX	Difference
Max Drawdown Largest peak-to-trough decline	-43.56%	-48.68%	+5.12%
Max Drawdown (1Y) Largest decline over 1 year	-11.13%	-21.36%	+10.23%
Max Drawdown (3Y) Largest decline over 3 years	-25.98%	-28.50%	+2.52%
Max Drawdown (5Y) Largest decline over 5 years	-36.11%	-28.50%	-7.61%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.79%	—
Current Drawdown Current decline from peak	-0.43%	-21.53%	+21.10%
Average Drawdown Average peak-to-trough decline	-11.05%	-8.28%	-2.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	10.19%	-7.14%

Volatility

PQJCX vs. NCLEX - Volatility Comparison

PGIM Jennison Small-Cap Core Equity Fund (PQJCX) and Nicholas Limited Edition Fund (NCLEX) have volatilities of 5.21% and 5.11%, 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

	PQJCX	NCLEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	5.11%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	13.16%	12.12%	+1.04%
Volatility (1Y) Calculated over the trailing 1-year period	17.78%	16.90%	+0.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.03%	19.52%	+2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.93%	19.21%	+3.72%

PQJCX vs. NCLEX - Expense Ratio Comparison

PQJCX has a 0.95% expense ratio, which is higher than NCLEX's 0.85% expense ratio.

Dividends

PQJCX vs. NCLEX - Dividend Comparison

PQJCX's dividend yield for the trailing twelve months is around 2.71%, less than NCLEX's 8.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NCLEX Nicholas Limited Edition Fund	8.03%	7.53%	2.51%	2.43%	6.22%	16.44%	5.10%	5.66%	10.72%	7.97%	10.68%	8.05%
PQJCX PGIM Jennison Small-Cap Core Equity Fund	2.71%	3.01%	18.27%	0.83%	0.51%	26.55%	3.86%	0.00%	7.11%	1.72%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PQJCX and NCLEX in my portfolio?

PQJCX and NCLEX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PQJCX or NCLEX?

PQJCX has higher volatility (5.21%) compared to NCLEX (5.11%). In terms of maximum drawdown, PQJCX dropped -43.56% vs NCLEX's -48.68%.

Which has better risk-adjusted returns?

PQJCX currently has the higher Sharpe Ratio (1.39 vs -0.64), 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.