PQTSX vs. PZRMX

Last updated Jun 3, 2026

PQTSX (PGIM TIPS Fund) and PZRMX (PIMCO Inflation Response Multi-Asset Fund) are both mutual funds - PQTSX is a Inflation-Protected Bonds fund managed by PGIM, while PZRMX is a Diversified Portfolio fund managed by PIMCO. Over the past 5 years, PQTSX returned 0.86%/yr vs 7.87%/yr for PZRMX. A 0.50 correlation means they provide meaningful diversification when combined. PQTSX charges 0.39%/yr vs 1.18%/yr for PZRMX.

Performance

PQTSX vs. PZRMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM TIPS Fund (PQTSX) and PIMCO Inflation Response Multi-Asset Fund (PZRMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PQTSX achieves a 1.83% return, which is significantly lower than PZRMX's 7.08% return.

PQTSX

• 1D: 0.00%
• 1M: 0.07%
• YTD: 1.83%
• 6M: 1.51%
• 1Y: 5.14%
• 3Y*: 3.72%
• 5Y*: 0.86%
• 10Y*: —

PZRMX

• 1D: -0.10%
• 1M: 0.00%
• YTD: 7.08%
• 6M: 7.54%
• 1Y: 17.20%
• 3Y*: 14.07%
• 5Y*: 7.87%
• 10Y*: 7.33%

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

PQTSX vs. PZRMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PQTSX PGIM TIPS Fund	1.83%	6.58%	1.74%	2.34%	-13.56%	7.91%	10.20%	8.19%	-1.64%	0.92%
PZRMX PIMCO Inflation Response Multi-Asset Fund	7.08%	16.18%	12.47%	5.95%	-5.42%	13.22%	8.92%	10.42%	-4.05%	7.96%

Correlation

The correlation between PQTSX and PZRMX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.50

The correlation between PQTSX and PZRMX shifts across timeframes, from 0.44 (1 year) to 0.55 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PQTSX vs. PZRMX — Risk / Return Rank

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

PQTSX

PQTSX Risk / Return Rank: 28
PQTSX Sharpe Ratio Rank: 19
PQTSX Sortino Ratio Rank: 22
PQTSX Omega Ratio Rank: 20
PQTSX Calmar Ratio Rank: 42
PQTSX Martin Ratio Rank: 36

PZRMX

PZRMX Risk / Return Rank: 91
PZRMX Sharpe Ratio Rank: 92
PZRMX Sortino Ratio Rank: 88
PZRMX Omega Ratio Rank: 86
PZRMX Calmar Ratio Rank: 94
PZRMX Martin Ratio Rank: 95

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. PZRMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM TIPS Fund (PQTSX) and PIMCO Inflation Response Multi-Asset Fund (PZRMX). 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	PZRMX	Difference
Sharpe ratio Return per unit of total volatility	1.25	3.07	-1.81
Sortino ratio Return per unit of downside risk	1.98	4.22	-2.24
Omega ratio Gain probability vs. loss probability	1.24	1.59	-0.35
Calmar ratio Return relative to maximum drawdown	2.49	5.42	-2.94
Martin ratio Return relative to average drawdown	8.11	22.29	-14.18
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. PZRMX - Sharpe Ratio Comparison

The current PQTSX Sharpe Ratio is 1.25, which is lower than the PZRMX Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of PQTSX and PZRMX, 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

	PQTSX	PZRMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	3.07	-1.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	0.95	-0.81
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.69	-0.27

Drawdowns

PQTSX vs. PZRMX - Drawdown Comparison

The maximum PQTSX drawdown since its inception was -16.40%, smaller than the maximum PZRMX drawdown of -19.71%. Use the drawdown chart below to compare losses from any high point for PQTSX and PZRMX.

Drawdown Indicators

	PQTSX	PZRMX	Difference
Max Drawdown Largest peak-to-trough decline	-16.40%	-19.71%	+3.31%
Max Drawdown (1Y) Largest decline over 1 year	-2.23%	-3.35%	+1.12%
Max Drawdown (3Y) Largest decline over 3 years	-4.53%	-4.96%	+0.43%
Max Drawdown (5Y) Largest decline over 5 years	-16.40%	-14.57%	-1.83%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.18%	—
Current Drawdown Current decline from peak	-2.67%	-0.92%	-1.75%
Average Drawdown Average peak-to-trough decline	-4.88%	-4.59%	-0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	0.82%	-0.14%

Volatility

PQTSX vs. PZRMX - Volatility Comparison

PGIM TIPS Fund (PQTSX) and PIMCO Inflation Response Multi-Asset Fund (PZRMX) have volatilities of 1.57% and 1.59%, 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	PZRMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.57%	1.59%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	4.66%	-1.85%
Volatility (1Y) Calculated over the trailing 1-year period	3.82%	5.90%	-2.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.34%	8.37%	-2.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.68%	7.55%	-1.87%

PQTSX vs. PZRMX - Expense Ratio Comparison

PQTSX has a 0.39% expense ratio, which is lower than PZRMX's 1.18% expense ratio.

Dividends

PQTSX vs. PZRMX - Dividend Comparison

PQTSX's dividend yield for the trailing twelve months is around 5.04%, more than PZRMX's 2.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PQTSX PGIM TIPS Fund	5.04%	4.95%	4.39%	3.25%	6.51%	9.54%	2.60%	2.48%	3.26%	1.11%	0.00%	0.00%
PZRMX PIMCO Inflation Response Multi-Asset Fund	2.19%	2.35%	9.84%	0.00%	13.86%	11.20%	0.54%	2.56%	11.15%	6.06%	0.16%	2.73%

Frequently Asked Questions

Can I hold both PQTSX and PZRMX in my portfolio?

PQTSX and PZRMX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PQTSX or PZRMX?

PZRMX has higher volatility (1.59%) compared to PQTSX (1.57%). In terms of maximum drawdown, PQTSX dropped -16.40% vs PZRMX's -19.71%.

Which has better risk-adjusted returns?

PZRMX currently has the higher Sharpe Ratio (3.07 vs 1.25), 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.