PQTSX vs. FSPWX

Last updated Apr 2, 2026

Compare and contrast key facts about PGIM TIPS Fund (PQTSX) and Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX).

PQTSX is managed by PGIM. It was launched on Nov 14, 2016. FSPWX is a passively managed fund by Fidelity that tracks the performance of the Bloomberg U.S. Treasury Inflation Protected Securities Index. It was launched on Aug 16, 2024.

Performance

PQTSX vs. FSPWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM TIPS Fund (PQTSX) and Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX). The values are adjusted to include any dividend payments, if applicable.

PQTSX vs. FSPWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PQTSX PGIM TIPS Fund	0.24%	6.58%	-1.31%
FSPWX Fidelity SAI Inflation-Protected Bond Index Fund	0.50%	6.76%	-1.32%

Returns By Period

In the year-to-date period, PQTSX achieves a 0.24% return, which is significantly lower than FSPWX's 0.50% return.

PQTSX

• 1D: 0.12%
• 1M: -1.18%
• YTD: 0.24%
• 6M: 0.04%
• 1Y: 2.67%
• 3Y*: 2.42%
• 5Y*: 1.02%
• 10Y*: —

FSPWX

• 1D: 0.00%
• 1M: -1.08%
• YTD: 0.50%
• 6M: 0.21%
• 1Y: 2.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PQTSX vs. FSPWX - Expense Ratio Comparison

PQTSX has a 0.39% expense ratio, which is higher than FSPWX's 0.05% expense ratio.

PQTSX

PGIM TIPS Fund

FSPWX

Fidelity SAI Inflation-Protected Bond Index Fund

Return for Risk

PQTSX vs. FSPWX — Risk / Return Rank

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

PQTSX

PQTSX Risk / Return Rank: 26
PQTSX Sharpe Ratio Rank: 20
PQTSX Sortino Ratio Rank: 16
PQTSX Omega Ratio Rank: 15
PQTSX Calmar Ratio Rank: 47
PQTSX Martin Ratio Rank: 32

FSPWX

FSPWX Risk / Return Rank: 29
FSPWX Sharpe Ratio Rank: 25
FSPWX Sortino Ratio Rank: 21
FSPWX Omega Ratio Rank: 18
FSPWX Calmar Ratio Rank: 46
FSPWX Martin Ratio Rank: 33

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.

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.

	PQTSX	FSPWX	Difference
Sharpe ratio Return per unit of total volatility	0.63	0.74	-0.11
Sortino ratio Return per unit of downside risk	0.88	1.04	-0.15
Omega ratio Gain probability vs. loss probability	1.12	1.14	-0.02
Calmar ratio Return relative to maximum drawdown	1.38	1.38	+0.01
Martin ratio Return relative to average drawdown	4.09	4.26	-0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PQTSX vs. FSPWX - Sharpe Ratio Comparison

The current PQTSX Sharpe Ratio is 0.63, which is comparable to the FSPWX Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of PQTSX and FSPWX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PQTSX	FSPWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.63	0.74	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.88	-0.48

Correlation

The correlation between PQTSX and FSPWX is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PQTSX vs. FSPWX - Dividend Comparison

PQTSX's dividend yield for the trailing twelve months is around 3.83%, less than FSPWX's 4.17% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PQTSX PGIM TIPS Fund	3.83%	4.95%	4.39%	3.25%	6.51%	9.54%	2.60%	2.48%	3.26%	1.11%
FSPWX Fidelity SAI Inflation-Protected Bond Index Fund	4.17%	4.19%	0.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

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.

Drawdown Indicators

	PQTSX	FSPWX	Difference
Max Drawdown Largest peak-to-trough decline	-16.40%	-3.84%	-12.56%
Max Drawdown (1Y) Largest decline over 1 year	-2.81%	-2.91%	+0.10%
Max Drawdown (5Y) Largest decline over 5 years	-16.40%	—	—
Current Drawdown Current decline from peak	-4.20%	-1.27%	-2.93%
Average Drawdown Average peak-to-trough decline	-4.90%	-1.04%	-3.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.94%	+0.01%

Volatility

PQTSX vs. FSPWX - Volatility Comparison

PGIM TIPS Fund (PQTSX) and Fidelity SAI Inflation-Protected Bond Index Fund (FSPWX) have volatilities of 1.42% and 1.43%, 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

	PQTSX	FSPWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	1.43%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.39%	2.29%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	4.42%	4.09%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.32%	4.16%	+2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.69%	4.16%	+1.53%