SREZX vs. BND

Last updated Jun 23, 2026

SREZX (PGIM Select Real Estate Fund) and BND (Vanguard Total Bond Market ETF) are both funds - SREZX is a REIT fund managed by PGIM, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, SREZX returned 6.89%/yr vs 1.55%/yr for BND. At a 0.22 correlation, their price movements are largely independent. SREZX charges 1.01%/yr vs 0.03%/yr for BND.

Performance

SREZX vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Select Real Estate Fund (SREZX) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SREZX achieves a 9.76% return, which is significantly higher than BND's 0.38% return. Over the past 10 years, SREZX has outperformed BND with an annualized return of 6.89%, while BND has yielded a comparatively lower 1.55% annualized return.

SREZX

• 1D: 0.20%
• 1M: -1.66%
• YTD: 9.76%
• 6M: 10.16%
• 1Y: 12.37%
• 3Y*: 10.54%
• 5Y*: 3.35%
• 10Y*: 6.89%

BND

• 1D: -0.27%
• 1M: 0.53%
• YTD: 0.38%
• 6M: 0.45%
• 1Y: 4.37%
• 3Y*: 3.92%
• 5Y*: 0.04%
• 10Y*: 1.55%

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

SREZX vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SREZX PGIM Select Real Estate Fund	9.76%	7.31%	6.58%	13.02%	-26.16%	28.83%	3.63%	30.87%	-4.12%	10.38%
BND Vanguard Total Bond Market ETF	0.38%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	-0.12%	3.57%

Correlation

The correlation between SREZX and BND is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Aug 4, 2014	0.22

Over the past year, SREZX and BND have become more correlated (0.47) than their long-term average of 0.22, meaning their price movements have been converging.

Return for Risk

SREZX vs. BND — Risk / Return Rank

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

SREZX

SREZX Risk / Return Rank: 15
SREZX Sharpe Ratio Rank: 14
SREZX Sortino Ratio Rank: 13
SREZX Omega Ratio Rank: 13
SREZX Calmar Ratio Rank: 15
SREZX Martin Ratio Rank: 18

BND

BND Risk / Return Rank: 33
BND Sharpe Ratio Rank: 33
BND Sortino Ratio Rank: 34
BND Omega Ratio Rank: 31
BND Calmar Ratio Rank: 33
BND Martin Ratio Rank: 33

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.

SREZX vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Select Real Estate Fund (SREZX) and Vanguard Total Bond Market ETF (BND). 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.

	SREZX	BND	Difference
Sharpe ratio: Return per unit of total volatility	0.98	1.18	-0.20
Sortino ratio: Return per unit of downside risk	1.40	1.76	-0.36
Omega ratio: Gain probability vs. loss probability	1.18	1.21	-0.03
Calmar ratio: Return relative to maximum drawdown	1.27	1.64	-0.37
Martin ratio: Return relative to average drawdown	4.32	4.69	-0.37

SREZX vs. BND - Sharpe Ratio Comparison

The current SREZX Sharpe Ratio is 0.98, which is comparable to the BND Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of SREZX and BND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SREZX vs. BND - Drawdown Comparison

The maximum SREZX drawdown since its inception was -39.13%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for SREZX and BND.

Drawdown Indicators

	SREZX	BND	Difference
Max Drawdown Largest peak-to-trough decline	-39.13%	-18.58%	-20.55%
Max Drawdown (1Y) Largest decline over 1 year	-9.60%	-2.68%	-6.92%
Max Drawdown (3Y) Largest decline over 3 years	-18.15%	-5.92%	-12.23%
Max Drawdown (5Y) Largest decline over 5 years	-34.10%	-17.91%	-16.19%
Max Drawdown (10Y) Largest decline over 10 years	-39.13%	-18.58%	-20.55%
Current Drawdown Current decline from peak	-3.38%	-2.26%	-1.12%
Average Drawdown Average peak-to-trough decline	-7.76%	-3.06%	-4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	0.93%	+1.88%

Volatility

SREZX vs. BND - Volatility Comparison

PGIM Select Real Estate Fund (SREZX) has a higher volatility of 3.95% compared to Vanguard Total Bond Market ETF (BND) at 1.08%. This indicates that SREZX's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SREZX	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	1.08%	+2.87%
Volatility (6M) Calculated over the trailing 6-month period	9.50%	2.77%	+6.73%
Volatility (1Y) Calculated over the trailing 1-year period	12.45%	3.74%	+8.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.46%	6.03%	+10.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.35%	5.54%	+11.81%

SREZX vs. BND - Expense Ratio Comparison

SREZX has a 1.01% expense ratio, which is higher than BND's 0.03% expense ratio.

Dividends

SREZX vs. BND - Dividend Comparison

SREZX's dividend yield for the trailing twelve months is around 2.26%, less than BND's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BND Vanguard Total Bond Market ETF	3.96%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
SREZX PGIM Select Real Estate Fund	2.26%	2.50%	2.55%	2.81%	1.59%	4.54%	2.12%	3.41%	4.58%	1.36%	4.15%	6.11%

Frequently Asked Questions

Can I hold both SREZX and BND in my portfolio?

SREZX and BND have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SREZX or BND?

SREZX has higher volatility (3.95%) compared to BND (1.08%). In terms of maximum drawdown, SREZX dropped -39.13% vs BND's -18.58%.

Which has better risk-adjusted returns?

BND currently has the higher Sharpe Ratio (1.18 vs 0.98), 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.