PRHAX vs. PDBZX
PRHAX (PGIM Muni High Income Fund) and PDBZX (PGIM Total Return Bond Fund Class Z) are both mutual funds - PRHAX is a High Yield Muni fund managed by PGIM, while PDBZX is a Intermediate Core-Plus Bond fund managed by PGIM. Over the past 10 years, PRHAX returned 2.31%/yr vs 2.49%/yr for PDBZX. Their 0.52 correlation means they have sometimes moved together and sometimes differently. PRHAX charges 0.81%/yr vs 0.49%/yr for PDBZX.
Performance
PRHAX vs. PDBZX - Performance Comparison
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Returns By Period
In the year-to-date period, PRHAX achieves a 1.41% return, which is significantly higher than PDBZX's -0.75% return. Over the past 10 years, PRHAX has underperformed PDBZX with an annualized return of 2.31%, while PDBZX has yielded a comparatively higher 2.49% annualized return.
PRHAX
- 1D
- -0.11%
- 1M
- -2.20%
- 6M
- 0.53%
- YTD
- 1.41%
- 1Y
- 5.93%
- 3Y*
- 4.66%
- 5Y*
- 0.46%
- 10Y*
- 2.31%
- ALL TIME*
- 4.78%
PDBZX
- 1D
- -0.25%
- 1M
- -1.50%
- 6M
- -0.96%
- YTD
- -0.75%
- 1Y
- 1.96%
- 3Y*
- 4.81%
- 5Y*
- 0.08%
- 10Y*
- 2.49%
- ALL TIME*
- 4.84%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PRHAX vs. PDBZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRHAX PGIM Muni High Income Fund | 1.41% | 4.42% | 4.74% | 8.02% | -14.37% | 4.07% | 4.57% | 8.67% | 0.99% | 7.80% |
PDBZX PGIM Total Return Bond Fund Class Z | -0.75% | 7.70% | 2.87% | 7.70% | -14.33% | -1.46% | 8.01% | 14.76% | -0.72% | 6.60% |
Correlation
The correlation between PRHAX and PDBZX is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.56 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.54 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 1996 | 0.52 |
The correlation between PRHAX and PDBZX shifts across timeframes, from 0.52 (all time) to 0.65 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PRHAX vs. PDBZX — Risk / Return Rank
PRHAX
PDBZX
PRHAX vs. PDBZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Muni High Income Fund (PRHAX) and PGIM Total Return Bond Fund Class Z (PDBZX). 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.
| PRHAX | PDBZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.47 | ||
| Sortino ratioReturn per unit of downside risk | +2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.12 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 0.94 | +1.17 |
| Martin ratioReturn relative to average drawdown | 7.62 | 2.33 | +5.29 |
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Drawdowns
PRHAX vs. PDBZX - Drawdown Comparison
The maximum PRHAX drawdown since its inception was -19.43%, smaller than the maximum PDBZX drawdown of -20.88%. Use the drawdown chart below to compare losses from any high point for PRHAX and PDBZX.
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Drawdown Indicators
| PRHAX | PDBZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.43% | -20.88% | +1.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -3.00% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -5.99% | -4.85% | -1.14% |
Max Drawdown (5Y)Largest decline over 5 years | -19.36% | -20.61% | +1.25% |
Max Drawdown (10Y)Largest decline over 10 years | -19.43% | -20.88% | +1.45% |
Current DrawdownCurrent decline from peak | -2.20% | -2.74% | +0.54% |
Average DrawdownAverage peak-to-trough decline | -2.25% | -2.30% | +0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 1.21% | -0.37% |
Volatility
PRHAX vs. PDBZX - Volatility Comparison
PGIM Muni High Income Fund (PRHAX) and PGIM Total Return Bond Fund Class Z (PDBZX) have volatilities of 0.99% and 1.01%, 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.
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Volatility by Period
| PRHAX | PDBZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 1.01% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 3.46% | -1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.03% | 4.22% | -1.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 6.05% | -1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.10% | 5.38% | -0.28% |
PRHAX vs. PDBZX - Expense Ratio Comparison
PRHAX has a 0.81% expense ratio, which is higher than PDBZX's 0.49% expense ratio.
Dividends
PRHAX vs. PDBZX - Dividend Comparison
PRHAX's dividend yield for the trailing twelve months is around 3.61%, less than PDBZX's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PDBZX PGIM Total Return Bond Fund Class Z | 4.23% | 4.54% | 4.79% | 4.60% | 5.73% | 2.73% | 2.94% | 10.36% | 4.01% | 2.87% | 3.92% | 3.33% |
PRHAX PGIM Muni High Income Fund | 3.61% | 5.23% | 3.89% | 2.93% | 2.92% | 2.68% | 3.41% | 3.39% | 3.87% | 3.80% | 4.14% | 4.19% |
Frequently Asked Questions
PRHAX and PDBZX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBZX has higher volatility (1.01%) compared to PRHAX (0.99%). In terms of maximum drawdown, PRHAX dropped -19.43% vs PDBZX's -20.88%.
PRHAX currently has the higher Sharpe Ratio (2.14 vs 0.67), 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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