SPFZX vs. PJFAX

Last updated Jun 3, 2026

SPFZX (PGIM Jennison Focused Growth Fund) and PJFAX (PGIM Jennison Growth Fund) are both Large Cap Growth Equities funds from PGIM. Over the past 10 years, SPFZX returned 18.45%/yr vs 20.36%/yr for PJFAX. With a 0.99 correlation, they move nearly in lockstep. SPFZX charges 0.75%/yr vs 0.97%/yr for PJFAX.

Performance

SPFZX vs. PJFAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison Focused Growth Fund (SPFZX) and PGIM Jennison Growth Fund (PJFAX). 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 SPFZX having a 9.73% return and PJFAX slightly higher at 9.93%. Over the past 10 years, SPFZX has underperformed PJFAX with an annualized return of 18.45%, while PJFAX has yielded a comparatively higher 20.36% annualized return.

SPFZX

• 1D: 0.84%
• 1M: 8.98%
• YTD: 9.73%
• 6M: 8.40%
• 1Y: 24.63%
• 3Y*: 24.79%
• 5Y*: 11.14%
• 10Y*: 18.45%

PJFAX

• 1D: 0.73%
• 1M: 8.22%
• YTD: 9.93%
• 6M: 8.66%
• 1Y: 22.62%
• 3Y*: 29.55%
• 5Y*: 15.07%
• 10Y*: 20.36%

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

SPFZX vs. PJFAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPFZX PGIM Jennison Focused Growth Fund	9.73%	16.15%	31.90%	52.74%	-40.55%	6.47%	67.31%	40.68%	2.53%	36.31%
PJFAX PGIM Jennison Growth Fund	9.93%	14.53%	48.10%	52.76%	-37.89%	15.65%	55.66%	45.04%	-1.24%	36.41%

Correlation

The correlation between SPFZX and PJFAX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 3, 2001	0.99

The correlation between SPFZX and PJFAX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

SPFZX vs. PJFAX — Risk / Return Rank

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

SPFZX

SPFZX Risk / Return Rank: 22
SPFZX Sharpe Ratio Rank: 29
SPFZX Sortino Ratio Rank: 26
SPFZX Omega Ratio Rank: 27
SPFZX Calmar Ratio Rank: 15
SPFZX Martin Ratio Rank: 15

PJFAX

PJFAX Risk / Return Rank: 20
PJFAX Sharpe Ratio Rank: 25
PJFAX Sortino Ratio Rank: 22
PJFAX Omega Ratio Rank: 24
PJFAX Calmar Ratio Rank: 14
PJFAX Martin Ratio Rank: 14

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.

SPFZX vs. PJFAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison Focused Growth Fund (SPFZX) and PGIM Jennison Growth Fund (PJFAX). 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.

	SPFZX	PJFAX	Difference
Sharpe ratio Return per unit of total volatility	1.55	1.47	+0.08
Sortino ratio Return per unit of downside risk	2.12	2.03	+0.09
Omega ratio Gain probability vs. loss probability	1.27	1.26	+0.01
Calmar ratio Return relative to maximum drawdown	1.38	1.35	+0.03
Martin ratio Return relative to average drawdown	4.32	4.32	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPFZX vs. PJFAX - Sharpe Ratio Comparison

The current SPFZX Sharpe Ratio is 1.55, which is comparable to the PJFAX Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of SPFZX and PJFAX, 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

	SPFZX	PJFAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	1.47	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.61	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.85	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.52	-0.07

Drawdowns

SPFZX vs. PJFAX - Drawdown Comparison

The maximum SPFZX drawdown since its inception was -50.87%, smaller than the maximum PJFAX drawdown of -64.07%. Use the drawdown chart below to compare losses from any high point for SPFZX and PJFAX.

Drawdown Indicators

	SPFZX	PJFAX	Difference
Max Drawdown Largest peak-to-trough decline	-50.87%	-64.07%	+13.20%
Max Drawdown (1Y) Largest decline over 1 year	-18.97%	-17.76%	-1.21%
Max Drawdown (3Y) Largest decline over 3 years	-24.77%	-24.05%	-0.72%
Max Drawdown (5Y) Largest decline over 5 years	-48.70%	-43.56%	-5.14%
Max Drawdown (10Y) Largest decline over 10 years	-48.70%	-43.56%	-5.14%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-14.61%	-20.35%	+5.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.07%	5.55%	+0.52%

Volatility

SPFZX vs. PJFAX - Volatility Comparison

PGIM Jennison Focused Growth Fund (SPFZX) and PGIM Jennison Growth Fund (PJFAX) have volatilities of 3.88% and 3.73%, 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

	SPFZX	PJFAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.88%	3.73%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	12.74%	12.33%	+0.41%
Volatility (1Y) Calculated over the trailing 1-year period	16.82%	16.29%	+0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.79%	24.69%	+1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.06%	24.01%	+1.05%

SPFZX vs. PJFAX - Expense Ratio Comparison

SPFZX has a 0.75% expense ratio, which is lower than PJFAX's 0.97% expense ratio.

Dividends

SPFZX vs. PJFAX - Dividend Comparison

SPFZX's dividend yield for the trailing twelve months is around 3.39%, less than PJFAX's 12.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PJFAX PGIM Jennison Growth Fund	12.20%	13.42%	24.62%	7.23%	2.77%	14.67%	9.02%	16.27%	6.06%	5.85%	4.12%	6.90%
SPFZX PGIM Jennison Focused Growth Fund	3.39%	3.72%	0.00%	0.00%	0.00%	14.24%	8.03%	10.64%	10.65%	10.91%	10.23%	11.93%

Frequently Asked Questions

Can I hold both SPFZX and PJFAX in my portfolio?

With a correlation of 0.99, SPFZX and PJFAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SPFZX or PJFAX?

SPFZX has higher volatility (3.88%) compared to PJFAX (3.73%). In terms of maximum drawdown, SPFZX dropped -50.87% vs PJFAX's -64.07%.

Which has better risk-adjusted returns?

SPFZX currently has the higher Sharpe Ratio (1.55 vs 1.47), 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.