PRPZX vs. IEYYX

Last updated Jun 6, 2026

PRPZX (PGIM Jennison MLP Fund) and IEYYX (Delaware Ivy Energy Fund) are both Energy Equities funds. Over the past 10 years, PRPZX returned 9.58%/yr vs 1.53%/yr for IEYYX. A 0.73 correlation means they provide meaningful diversification when combined. PRPZX charges 1.19%/yr vs 1.28%/yr for IEYYX.

Performance

PRPZX vs. IEYYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison MLP Fund (PRPZX) and Delaware Ivy Energy Fund (IEYYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PRPZX having a 21.25% return and IEYYX slightly higher at 21.78%. Over the past 10 years, PRPZX has outperformed IEYYX with an annualized return of 9.58%, while IEYYX has yielded a comparatively lower 1.53% annualized return.

PRPZX

• 1D: 1.26%
• 1M: 1.41%
• YTD: 21.25%
• 6M: 19.26%
• 1Y: 25.18%
• 3Y*: 24.09%
• 5Y*: 18.56%
• 10Y*: 9.58%

IEYYX

• 1D: -0.52%
• 1M: 1.13%
• YTD: 21.78%
• 6M: 23.63%
• 1Y: 46.67%
• 3Y*: 13.59%
• 5Y*: 14.43%
• 10Y*: 1.53%

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

PRPZX vs. IEYYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRPZX PGIM Jennison MLP Fund	21.25%	7.33%	31.43%	13.07%	20.41%	40.49%	-24.05%	15.32%	-14.17%	-4.34%
IEYYX Delaware Ivy Energy Fund	21.78%	22.56%	-3.60%	-4.08%	41.14%	43.34%	-38.68%	4.25%	-34.47%	-12.98%

Correlation

The correlation between PRPZX and IEYYX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Dec 20, 2013	0.73

Over the past year, the correlation between PRPZX and IEYYX has dropped to 0.26 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.

Return for Risk

PRPZX vs. IEYYX — Risk / Return Rank

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

PRPZX

PRPZX Risk / Return Rank: 52
PRPZX Sharpe Ratio Rank: 43
PRPZX Sortino Ratio Rank: 41
PRPZX Omega Ratio Rank: 39
PRPZX Calmar Ratio Rank: 85
PRPZX Martin Ratio Rank: 50

IEYYX

IEYYX Risk / Return Rank: 96
IEYYX Sharpe Ratio Rank: 98
IEYYX Sortino Ratio Rank: 95
IEYYX Omega Ratio Rank: 90
IEYYX Calmar Ratio Rank: 99
IEYYX Martin Ratio Rank: 98

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.

PRPZX vs. IEYYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison MLP Fund (PRPZX) and Delaware Ivy Energy Fund (IEYYX). 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.

	PRPZX	IEYYX	Difference
Sharpe ratio: Return per unit of total volatility	1.85	3.72	-1.86
Sortino ratio: Return per unit of downside risk	2.58	4.95	-2.36
Omega ratio: Gain probability vs. loss probability	1.32	1.65	-0.33
Calmar ratio: Return relative to maximum drawdown	3.91	10.56	-6.65
Martin ratio: Return relative to average drawdown	9.95	35.89	-25.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRPZX vs. IEYYX - Sharpe Ratio Comparison

The current PRPZX Sharpe Ratio is 1.85, which is lower than the IEYYX Sharpe Ratio of 3.72. The chart below compares the historical Sharpe Ratios of PRPZX and IEYYX, 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

	PRPZX	IEYYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	3.72	-1.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.67	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.05	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.06	+0.18

Drawdowns

PRPZX vs. IEYYX - Drawdown Comparison

The maximum PRPZX drawdown since its inception was -69.62%, smaller than the maximum IEYYX drawdown of -85.16%. Use the drawdown chart below to compare losses from any high point for PRPZX and IEYYX.

Drawdown Indicators

	PRPZX	IEYYX	Difference
Max Drawdown Largest peak-to-trough decline	-69.62%	-85.16%	+15.54%
Max Drawdown (1Y) Largest decline over 1 year	-6.63%	-4.55%	-2.08%
Max Drawdown (3Y) Largest decline over 3 years	-34.52%	-22.71%	-11.81%
Max Drawdown (5Y) Largest decline over 5 years	-34.52%	-30.43%	-4.09%
Max Drawdown (10Y) Largest decline over 10 years	-62.23%	-81.45%	+19.22%
Current Drawdown Current decline from peak	-6.93%	-21.30%	+14.37%
Average Drawdown Average peak-to-trough decline	-20.07%	-35.17%	+15.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	1.33%	+1.27%

Volatility

PRPZX vs. IEYYX - Volatility Comparison

PGIM Jennison MLP Fund (PRPZX) has a higher volatility of 5.89% compared to Delaware Ivy Energy Fund (IEYYX) at 4.28%. This indicates that PRPZX's price experiences larger fluctuations and is considered to be riskier than IEYYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRPZX	IEYYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.89%	4.28%	+1.61%
Volatility (6M) Calculated over the trailing 6-month period	10.71%	9.69%	+1.02%
Volatility (1Y) Calculated over the trailing 1-year period	14.04%	12.94%	+1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.13%	21.73%	+7.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.81%	30.86%	-2.05%

PRPZX vs. IEYYX - Expense Ratio Comparison

PRPZX has a 1.19% expense ratio, which is lower than IEYYX's 1.28% expense ratio.

Dividends

PRPZX vs. IEYYX - Dividend Comparison

PRPZX's dividend yield for the trailing twelve months is around 8.09%, more than IEYYX's 0.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEYYX Delaware Ivy Energy Fund	0.71%	0.87%	0.91%	2.37%	1.33%	1.49%	2.17%	0.00%	0.00%	0.36%	0.00%	0.00%
PRPZX PGIM Jennison MLP Fund	8.09%	11.68%	52.02%	6.53%	5.72%	5.23%	7.62%	6.95%	7.59%	6.24%	5.57%	6.43%

Frequently Asked Questions

Can I hold both PRPZX and IEYYX in my portfolio?

PRPZX and IEYYX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRPZX or IEYYX?

PRPZX has higher volatility (5.89%) compared to IEYYX (4.28%). In terms of maximum drawdown, PRPZX dropped -69.62% vs IEYYX's -85.16%.

Which has better risk-adjusted returns?

IEYYX currently has the higher Sharpe Ratio (3.72 vs 1.85), 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.