SCFZX vs. ACFIX

Last updated Jun 3, 2026

SCFZX (PGIM Securitized Credit Fund) and ACFIX (Water Island Credit Opportunities Fund) are both Nontraditional Bonds funds. Over the past 5 years, SCFZX returned 5.28%/yr vs 3.52%/yr for ACFIX. At a 0.27 correlation, their price movements are largely independent. SCFZX charges 0.65%/yr vs 0.98%/yr for ACFIX.

Performance

SCFZX vs. ACFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Securitized Credit Fund (SCFZX) and Water Island Credit Opportunities Fund (ACFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SCFZX having a 2.28% return and ACFIX slightly lower at 2.25%.

SCFZX

• 1D: 0.00%
• 1M: 0.52%
• YTD: 2.28%
• 6M: 2.84%
• 1Y: 6.11%
• 3Y*: 7.69%
• 5Y*: 5.28%
• 10Y*: —

ACFIX

• 1D: 0.10%
• 1M: 0.62%
• YTD: 2.25%
• 6M: 2.40%
• 1Y: 4.80%
• 3Y*: 5.51%
• 5Y*: 3.52%
• 10Y*: 3.77%

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

SCFZX vs. ACFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SCFZX PGIM Securitized Credit Fund	2.28%	5.75%	9.41%	8.67%	-0.84%	5.27%	-0.33%	1.73%
ACFIX Water Island Credit Opportunities Fund	2.25%	4.79%	5.51%	6.54%	-2.70%	3.24%	6.71%	2.05%

Correlation

The correlation between SCFZX and ACFIX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jul 2, 2019	0.27

Return for Risk

SCFZX vs. ACFIX — Risk / Return Rank

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

SCFZX

SCFZX Risk / Return Rank: 99
SCFZX Sharpe Ratio Rank: 98
SCFZX Sortino Ratio Rank: 100
SCFZX Omega Ratio Rank: 100
SCFZX Calmar Ratio Rank: 100
SCFZX Martin Ratio Rank: 99

ACFIX

ACFIX Risk / Return Rank: 14
ACFIX Sharpe Ratio Rank: 3
ACFIX Sortino Ratio Rank: 4
ACFIX Omega Ratio Rank: 56
ACFIX Calmar Ratio Rank: 4
ACFIX Martin Ratio Rank: 3

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.

SCFZX vs. ACFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Securitized Credit Fund (SCFZX) and Water Island Credit Opportunities Fund (ACFIX). 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.

	SCFZX	ACFIX	Difference
Sharpe ratio Return per unit of total volatility	4.09	0.14	+3.95
Sortino ratio Return per unit of downside risk	17.53	0.49	+17.04
Omega ratio Gain probability vs. loss probability	6.28	1.42	+4.86
Calmar ratio Return relative to maximum drawdown	21.49	0.25	+21.25
Martin ratio Return relative to average drawdown	75.24	0.30	+74.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCFZX vs. ACFIX - Sharpe Ratio Comparison

The current SCFZX Sharpe Ratio is 4.09, which is higher than the ACFIX Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of SCFZX and ACFIX, 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

	SCFZX	ACFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.09	0.14	+3.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.78	0.23	+2.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.37	0.36	+1.01

Drawdowns

SCFZX vs. ACFIX - Drawdown Comparison

The maximum SCFZX drawdown since its inception was -17.20%, smaller than the maximum ACFIX drawdown of -20.82%. Use the drawdown chart below to compare losses from any high point for SCFZX and ACFIX.

Drawdown Indicators

	SCFZX	ACFIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.20%	-20.82%	+3.62%
Max Drawdown (1Y) Largest decline over 1 year	-0.31%	-20.82%	+20.51%
Max Drawdown (3Y) Largest decline over 3 years	-0.93%	-20.82%	+19.89%
Max Drawdown (5Y) Largest decline over 5 years	-4.13%	-20.82%	+16.69%
Max Drawdown (10Y) Largest decline over 10 years	—	-20.82%	—
Current Drawdown Current decline from peak	0.00%	-17.53%	+17.53%
Average Drawdown Average peak-to-trough decline	-1.06%	-1.68%	+0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.09%	17.05%	-16.96%

Volatility

SCFZX vs. ACFIX - Volatility Comparison

PGIM Securitized Credit Fund (SCFZX) and Water Island Credit Opportunities Fund (ACFIX) have volatilities of 0.42% and 0.43%, 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

	SCFZX	ACFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.42%	0.43%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	1.10%	1.12%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	1.50%	33.55%	-32.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.91%	15.13%	-13.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.35%	10.89%	-7.54%

SCFZX vs. ACFIX - Expense Ratio Comparison

SCFZX has a 0.65% expense ratio, which is lower than ACFIX's 0.98% expense ratio.

Dividends

SCFZX vs. ACFIX - Dividend Comparison

SCFZX's dividend yield for the trailing twelve months is around 5.08%, more than ACFIX's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACFIX Water Island Credit Opportunities Fund	3.85%	4.17%	4.71%	4.00%	3.55%	2.59%	2.95%	3.52%	2.92%	3.01%	2.38%	2.91%
SCFZX PGIM Securitized Credit Fund	5.08%	5.25%	6.55%	5.58%	4.97%	2.56%	3.08%	2.43%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SCFZX and ACFIX in my portfolio?

SCFZX and ACFIX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCFZX or ACFIX?

ACFIX has higher volatility (0.43%) compared to SCFZX (0.42%). In terms of maximum drawdown, SCFZX dropped -17.20% vs ACFIX's -20.82%.

Which has better risk-adjusted returns?

SCFZX currently has the higher Sharpe Ratio (4.09 vs 0.14), 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.