PRPZX vs. VENAX

Last updated Jun 6, 2026

PRPZX (PGIM Jennison MLP Fund) and VENAX (Vanguard Energy Index Fund Admiral Shares) are both Energy Equities funds. Over the past 10 years, PRPZX returned 9.58%/yr vs 9.39%/yr for VENAX. A 0.77 correlation means they provide meaningful diversification when combined. PRPZX charges 1.19%/yr vs 0.10%/yr for VENAX.

Performance

PRPZX vs. VENAX - Performance Comparison

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

Returns By Period

In the year-to-date period, PRPZX achieves a 21.25% return, which is significantly lower than VENAX's 32.50% return. Both investments have delivered pretty close results over the past 10 years, with PRPZX having a 9.58% annualized return and VENAX not far behind at 9.39%.

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%

VENAX

• 1D: 0.23%
• 1M: 2.12%
• YTD: 32.50%
• 6M: 29.58%
• 1Y: 48.74%
• 3Y*: 18.33%
• 5Y*: 20.40%
• 10Y*: 9.39%

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

PRPZX vs. VENAX - 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%
VENAX Vanguard Energy Index Fund Admiral Shares	32.50%	7.29%	6.57%	0.05%	62.94%	55.57%	-33.27%	9.36%	-19.90%	-2.39%

Correlation

The correlation between PRPZX and VENAX is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Dec 20, 2013	0.77

The correlation between PRPZX and VENAX shifts across timeframes, from 0.62 (1 year) to 0.79 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

PRPZX vs. VENAX — 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

VENAX

VENAX Risk / Return Rank: 67
VENAX Sharpe Ratio Rank: 73
VENAX Sortino Ratio Rank: 57
VENAX Omega Ratio Rank: 53
VENAX Calmar Ratio Rank: 87
VENAX Martin Ratio Rank: 64

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. VENAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison MLP Fund (PRPZX) and Vanguard Energy Index Fund Admiral Shares (VENAX). 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	VENAX	Difference
Sharpe ratio: Return per unit of total volatility	1.85	2.41	-0.56
Sortino ratio: Return per unit of downside risk	2.58	3.06	-0.47
Omega ratio: Gain probability vs. loss probability	1.32	1.38	-0.06
Calmar ratio: Return relative to maximum drawdown	3.91	4.14	-0.24
Martin ratio: Return relative to average drawdown	9.95	12.11	-2.16
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. VENAX - Sharpe Ratio Comparison

The current PRPZX Sharpe Ratio is 1.85, which is comparable to the VENAX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of PRPZX and VENAX, 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	VENAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	2.41	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.78	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.31	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.28	-0.04

Drawdowns

PRPZX vs. VENAX - Drawdown Comparison

The maximum PRPZX drawdown since its inception was -69.62%, smaller than the maximum VENAX drawdown of -74.42%. Use the drawdown chart below to compare losses from any high point for PRPZX and VENAX.

Drawdown Indicators

	PRPZX	VENAX	Difference
Max Drawdown Largest peak-to-trough decline	-69.62%	-74.42%	+4.80%
Max Drawdown (1Y) Largest decline over 1 year	-6.63%	-11.79%	+5.16%
Max Drawdown (3Y) Largest decline over 3 years	-34.52%	-21.44%	-13.08%
Max Drawdown (5Y) Largest decline over 5 years	-34.52%	-26.59%	-7.93%
Max Drawdown (10Y) Largest decline over 10 years	-62.23%	-69.58%	+7.35%
Current Drawdown Current decline from peak	-6.93%	-6.25%	-0.68%
Average Drawdown Average peak-to-trough decline	-20.07%	-19.98%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	4.02%	-1.42%

Volatility

PRPZX vs. VENAX - Volatility Comparison

The current volatility for PGIM Jennison MLP Fund (PRPZX) is 5.89%, while Vanguard Energy Index Fund Admiral Shares (VENAX) has a volatility of 7.93%. This indicates that PRPZX experiences smaller price fluctuations and is considered to be less risky than VENAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRPZX	VENAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.89%	7.93%	-2.04%
Volatility (6M) Calculated over the trailing 6-month period	10.71%	16.24%	-5.53%
Volatility (1Y) Calculated over the trailing 1-year period	14.04%	20.37%	-6.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.13%	26.44%	+2.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.81%	30.23%	-1.42%

PRPZX vs. VENAX - Expense Ratio Comparison

PRPZX has a 1.19% expense ratio, which is higher than VENAX's 0.10% expense ratio.

Dividends

PRPZX vs. VENAX - Dividend Comparison

PRPZX's dividend yield for the trailing twelve months is around 8.09%, more than VENAX's 2.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VENAX Vanguard Energy Index Fund Admiral Shares	2.37%	3.10%	3.24%	3.34%	3.65%	3.80%	4.76%	3.41%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both PRPZX and VENAX in my portfolio?

PRPZX and VENAX 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.

Which is riskier, PRPZX or VENAX?

VENAX has higher volatility (7.93%) compared to PRPZX (5.89%). In terms of maximum drawdown, PRPZX dropped -69.62% vs VENAX's -74.42%.

Which has better risk-adjusted returns?

VENAX currently has the higher Sharpe Ratio (2.41 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.