PUCZX vs. FYBTX
PUCZX (PGIM Strategic Bond Fund Class Z) and FYBTX (Fidelity Series Short-Term Credit Fund) are both Total Bond Market funds. Over the past 10 years, PUCZX returned 4.09%/yr vs 2.57%/yr for FYBTX. A 0.57 correlation means they provide meaningful diversification when combined. PUCZX charges 0.62%/yr vs 0.00%/yr for FYBTX.
Performance
PUCZX vs. FYBTX - Performance Comparison
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Returns By Period
In the year-to-date period, PUCZX achieves a 0.87% return, which is significantly lower than FYBTX's 1.18% return. Over the past 10 years, PUCZX has outperformed FYBTX with an annualized return of 4.09%, while FYBTX has yielded a comparatively lower 2.57% annualized return.
PUCZX
- 1D
- 0.24%
- 1M
- -0.19%
- 6M
- 0.87%
- YTD
- 0.87%
- 1Y
- 5.71%
- 3Y*
- 7.14%
- 5Y*
- 1.62%
- 10Y*
- 4.09%
FYBTX
- 1D
- 0.10%
- 1M
- 0.26%
- 6M
- 1.28%
- YTD
- 1.18%
- 1Y
- 4.09%
- 3Y*
- 5.24%
- 5Y*
- 2.78%
- 10Y*
- 2.57%
PUCZX vs. FYBTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PUCZX PGIM Strategic Bond Fund Class Z | 0.87% | 8.47% | 6.46% | 8.20% | -13.74% | 0.05% | 6.28% | 14.89% | 1.09% | 7.48% |
FYBTX Fidelity Series Short-Term Credit Fund | 1.18% | 5.72% | 5.13% | 6.08% | -3.50% | -0.54% | 3.99% | 5.07% | 1.66% | 1.50% |
Correlation
The correlation between PUCZX and FYBTX is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.57 |
Over the past year, PUCZX and FYBTX have become more correlated (0.80) than their long-term average of 0.57, meaning their price movements have been converging.
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Return for Risk
PUCZX vs. FYBTX — Risk / Return Rank
PUCZX
FYBTX
PUCZX vs. FYBTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Strategic Bond Fund Class Z (PUCZX) and Fidelity Series Short-Term Credit Fund (FYBTX). 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.
| PUCZX | FYBTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.59 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 3.54 | -1.65 |
| Martin ratioReturn relative to average drawdown | 6.52 | 14.16 | -7.64 |
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Drawdowns
PUCZX vs. FYBTX - Drawdown Comparison
The maximum PUCZX drawdown since its inception was -18.60%, which is greater than FYBTX's maximum drawdown of -6.00%. Use the drawdown chart below to compare losses from any high point for PUCZX and FYBTX.
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Drawdown Indicators
| PUCZX | FYBTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.60% | -6.00% | -12.60% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -1.19% | -1.92% |
Max Drawdown (3Y)Largest decline over 3 years | -3.58% | -1.19% | -2.39% |
Max Drawdown (5Y)Largest decline over 5 years | -18.60% | -6.00% | -12.60% |
Max Drawdown (10Y)Largest decline over 10 years | -18.60% | -6.00% | -12.60% |
Current DrawdownCurrent decline from peak | -0.87% | -0.10% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -3.34% | -0.71% | -2.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 0.30% | +0.60% |
Volatility
PUCZX vs. FYBTX - Volatility Comparison
PGIM Strategic Bond Fund Class Z (PUCZX) has a higher volatility of 1.03% compared to Fidelity Series Short-Term Credit Fund (FYBTX) at 0.49%. This indicates that PUCZX's price experiences larger fluctuations and is considered to be riskier than FYBTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PUCZX | FYBTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 0.49% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | 1.38% | +1.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 1.87% | +1.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.66% | 2.20% | +2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.69% | 1.92% | +2.77% |
PUCZX vs. FYBTX - Expense Ratio Comparison
PUCZX has a 0.62% expense ratio, which is higher than FYBTX's 0.00% expense ratio.
Dividends
PUCZX vs. FYBTX - Dividend Comparison
PUCZX's dividend yield for the trailing twelve months is around 5.12%, more than FYBTX's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FYBTX Fidelity Series Short-Term Credit Fund | 4.74% | 4.66% | 3.67% | 2.76% | 1.26% | 1.65% | 2.31% | 2.72% | 2.45% | 1.59% | 1.24% |
PUCZX PGIM Strategic Bond Fund Class Z | 5.12% | 5.12% | 6.40% | 7.62% | 5.17% | 3.65% | 5.06% | 8.81% | 4.56% | 4.52% | 6.49% |
Frequently Asked Questions
PUCZX and FYBTX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PUCZX has higher volatility (1.03%) compared to FYBTX (0.49%). In terms of maximum drawdown, PUCZX dropped -18.60% vs FYBTX's -6.00%.
FYBTX currently has the higher Sharpe Ratio (2.25 vs 1.57), 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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