PQTSX vs. FSPWX
PQTSX (PGIM TIPS Fund) and FSPWX (Fidelity SAI Inflation-Protected Bond Index Fund) are both Inflation-Protected Bonds funds. Over the past year, PQTSX returned 3.13% vs 3.53% for FSPWX. Their correlation of 0.87 suggests significant overlap in exposure. PQTSX charges 0.39%/yr vs 0.05%/yr for FSPWX.
Performance
PQTSX vs. FSPWX - Performance Comparison
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Returns By Period
In the year-to-date period, PQTSX achieves a 0.13% return, which is significantly lower than FSPWX's 0.83% return.
PQTSX
- 1D
- -0.49%
- 1M
- 0.17%
- YTD
- 0.13%
- 6M
- 0.52%
- 1Y
- 3.13%
- 3Y*
- 3.18%
- 5Y*
- 0.56%
- 10Y*
- —
FSPWX
- 1D
- -0.39%
- 1M
- 0.00%
- YTD
- 0.83%
- 6M
- 0.93%
- 1Y
- 3.53%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PQTSX vs. FSPWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PQTSX PGIM TIPS Fund | 0.13% | 6.58% | -1.66% |
FSPWX Fidelity SAI Inflation-Protected Bond Index Fund | 0.83% | 6.76% | -1.32% |
Correlation
The correlation between PQTSX and FSPWX is 0.84, 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 | 0.84 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2024 | 0.87 |
The correlation between PQTSX and FSPWX has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.
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Return for Risk
PQTSX vs. FSPWX — Risk / Return Rank
PQTSX
FSPWX
PQTSX vs. FSPWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM TIPS Fund (PQTSX) and Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX). 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.
| PQTSX | FSPWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.20 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 1.88 | -0.47 |
| Martin ratioReturn relative to average drawdown | 4.45 | 5.69 | -1.24 |
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Drawdowns
PQTSX vs. FSPWX - Drawdown Comparison
The maximum PQTSX drawdown since its inception was -16.40%, which is greater than FSPWX's maximum drawdown of -3.84%. Use the drawdown chart below to compare losses from any high point for PQTSX and FSPWX.
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Drawdown Indicators
| PQTSX | FSPWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.40% | -3.84% | -12.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -1.95% | -0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -4.53% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.40% | — | — |
Current DrawdownCurrent decline from peak | -4.31% | -0.98% | -3.33% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -0.96% | -3.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 0.64% | +0.06% |
Volatility
PQTSX vs. FSPWX - Volatility Comparison
PGIM TIPS Fund (PQTSX) has a higher volatility of 1.80% compared to Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX) at 1.22%. This indicates that PQTSX's price experiences larger fluctuations and is considered to be riskier than FSPWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PQTSX | FSPWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.80% | 1.22% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 2.43% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 3.35% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 4.07% | +2.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.67% | 4.07% | +1.60% |
PQTSX vs. FSPWX - Expense Ratio Comparison
PQTSX has a 0.39% expense ratio, which is higher than FSPWX's 0.05% expense ratio.
Dividends
PQTSX vs. FSPWX - Dividend Comparison
PQTSX's dividend yield for the trailing twelve months is around 5.12%, more than FSPWX's 3.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FSPWX Fidelity SAI Inflation-Protected Bond Index Fund | 3.79% | 4.19% | 0.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PQTSX PGIM TIPS Fund | 5.12% | 4.95% | 4.39% | 3.25% | 6.51% | 9.54% | 2.60% | 2.48% | 3.26% | 1.11% |
Frequently Asked Questions
PQTSX and FSPWX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PQTSX has higher volatility (1.80%) compared to FSPWX (1.22%). In terms of maximum drawdown, PQTSX dropped -16.40% vs FSPWX's -3.84%.
FSPWX currently has the higher Sharpe Ratio (1.10 vs 0.82), 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.
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