SDMZX vs. PRPZX
SDMZX (PGIM Short Duration Multi-Sector Bond Fund) and PRPZX (PGIM Jennison MLP Fund) are both mutual funds - SDMZX is a Short-Term Bond fund managed by PGIM, while PRPZX is a Energy Equities fund managed by PGIM. Over the past 10 years, SDMZX returned 3.06%/yr vs 9.50%/yr for PRPZX. At a 0.03 correlation, their price movements are largely independent. SDMZX charges 0.46%/yr vs 1.19%/yr for PRPZX.
Performance
SDMZX vs. PRPZX - Performance Comparison
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Returns By Period
In the year-to-date period, SDMZX achieves a 1.18% return, which is significantly lower than PRPZX's 22.06% return. Over the past 10 years, SDMZX has underperformed PRPZX with an annualized return of 3.06%, while PRPZX has yielded a comparatively higher 9.50% annualized return.
SDMZX
- 1D
- 0.00%
- 1M
- 0.15%
- 6M
- 1.18%
- YTD
- 1.18%
- 1Y
- 4.42%
- 3Y*
- 5.78%
- 5Y*
- 2.75%
- 10Y*
- 3.06%
PRPZX
- 1D
- -0.55%
- 1M
- 0.80%
- 6M
- 23.08%
- YTD
- 22.06%
- 1Y
- 26.61%
- 3Y*
- 22.57%
- 5Y*
- 18.67%
- 10Y*
- 9.50%
SDMZX vs. PRPZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDMZX PGIM Short Duration Multi-Sector Bond Fund | 1.18% | 6.18% | 5.64% | 6.25% | -4.82% | -0.19% | 3.97% | 7.92% | 0.95% | 3.96% |
PRPZX PGIM Jennison MLP Fund | 22.06% | 7.33% | 31.43% | 13.07% | 20.41% | 40.49% | -24.05% | 15.32% | -14.17% | -4.34% |
Correlation
The correlation between SDMZX and PRPZX is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.03 |
The correlation between SDMZX and PRPZX shifts across timeframes, from -0.13 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SDMZX vs. PRPZX — Risk / Return Rank
SDMZX
PRPZX
SDMZX vs. PRPZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Short Duration Multi-Sector Bond Fund (SDMZX) and PGIM Jennison MLP Fund (PRPZX). 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.
| SDMZX | PRPZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.33 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 4.13 | -1.62 |
| Martin ratioReturn relative to average drawdown | 7.42 | 9.46 | -2.03 |
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Drawdowns
SDMZX vs. PRPZX - Drawdown Comparison
The maximum SDMZX drawdown since its inception was -9.76%, smaller than the maximum PRPZX drawdown of -69.62%. Use the drawdown chart below to compare losses from any high point for SDMZX and PRPZX.
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Drawdown Indicators
| SDMZX | PRPZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.76% | -69.62% | +59.86% |
Max Drawdown (1Y)Largest decline over 1 year | -1.77% | -6.63% | +4.86% |
Max Drawdown (3Y)Largest decline over 3 years | -1.77% | -34.52% | +32.75% |
Max Drawdown (5Y)Largest decline over 5 years | -8.51% | -34.52% | +26.01% |
Max Drawdown (10Y)Largest decline over 10 years | -9.76% | -62.23% | +52.47% |
Current DrawdownCurrent decline from peak | -1.40% | -6.32% | +4.92% |
Average DrawdownAverage peak-to-trough decline | -0.99% | -19.97% | +18.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 2.89% | -2.29% |
Volatility
SDMZX vs. PRPZX - Volatility Comparison
The current volatility for PGIM Short Duration Multi-Sector Bond Fund (SDMZX) is 0.55%, while PGIM Jennison MLP Fund (PRPZX) has a volatility of 4.63%. This indicates that SDMZX experiences smaller price fluctuations and is considered to be less risky than PRPZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDMZX | PRPZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.55% | 4.63% | -4.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.83% | 10.93% | -8.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.13% | 14.08% | -10.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.57% | 29.01% | -26.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.58% | 28.75% | -26.17% |
SDMZX vs. PRPZX - Expense Ratio Comparison
SDMZX has a 0.46% expense ratio, which is lower than PRPZX's 1.19% expense ratio.
Dividends
SDMZX vs. PRPZX - Dividend Comparison
SDMZX's dividend yield for the trailing twelve months is around 4.69%, less than PRPZX's 8.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRPZX PGIM Jennison MLP Fund | 8.90% | 11.68% | 52.02% | 6.53% | 5.72% | 5.23% | 7.62% | 6.95% | 7.59% | 6.24% | 5.57% | 6.43% |
SDMZX PGIM Short Duration Multi-Sector Bond Fund | 4.69% | 4.62% | 4.57% | 3.36% | 4.70% | 2.76% | 3.10% | 6.18% | 3.47% | 2.64% | 2.76% | 3.34% |
Frequently Asked Questions
SDMZX and PRPZX have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRPZX has higher volatility (4.63%) compared to SDMZX (0.55%). In terms of maximum drawdown, SDMZX dropped -9.76% vs PRPZX's -69.62%.
PRPZX currently has the higher Sharpe Ratio (1.94 vs 1.42), 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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