TAIBX vs. PCGTX

Last updated Jun 5, 2026

TAIBX (PGIM Core Bond Fund) and PCGTX (PACE Mortgage-Backed Securities Fixed Income Investments) are both Intermediate Core Bond funds. Over the past 10 years, TAIBX returned 1.65%/yr vs 1.53%/yr for PCGTX. A 0.77 correlation means they provide meaningful diversification when combined. TAIBX charges 0.33%/yr vs 0.73%/yr for PCGTX.

Performance

TAIBX vs. PCGTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Core Bond Fund (TAIBX) and PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TAIBX achieves a 0.24% return, which is significantly lower than PCGTX's 2.82% return. Over the past 10 years, TAIBX has outperformed PCGTX with an annualized return of 1.65%, while PCGTX has yielded a comparatively lower 1.53% annualized return.

TAIBX

• 1D: -0.23%
• 1M: 0.15%
• YTD: 0.24%
• 6M: 0.52%
• 1Y: 4.91%
• 3Y*: 4.15%
• 5Y*: -0.15%
• 10Y*: 1.65%

PCGTX

• 1D: -0.19%
• 1M: 0.11%
• YTD: 2.82%
• 6M: 3.30%
• 1Y: 8.55%
• 3Y*: 4.91%
• 5Y*: 0.28%
• 10Y*: 1.53%

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

TAIBX vs. PCGTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TAIBX PGIM Core Bond Fund	0.24%	7.36%	1.44%	5.89%	-14.59%	-1.73%	8.40%	9.13%	-0.44%	4.03%
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments	2.82%	7.84%	0.98%	5.12%	-13.48%	-0.61%	5.75%	6.55%	0.17%	2.83%

Correlation

The correlation between TAIBX and PCGTX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Aug 21, 1995	0.77

The correlation between TAIBX and PCGTX shifts across timeframes, from 0.77 (all time) to 0.88 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TAIBX vs. PCGTX — Risk / Return Rank

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

TAIBX

TAIBX Risk / Return Rank: 22
TAIBX Sharpe Ratio Rank: 20
TAIBX Sortino Ratio Rank: 21
TAIBX Omega Ratio Rank: 22
TAIBX Calmar Ratio Rank: 27
TAIBX Martin Ratio Rank: 23

PCGTX

PCGTX Risk / Return Rank: 56
PCGTX Sharpe Ratio Rank: 40
PCGTX Sortino Ratio Rank: 56
PCGTX Omega Ratio Rank: 52
PCGTX Calmar Ratio Rank: 74
PCGTX Martin Ratio Rank: 57

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.

TAIBX vs. PCGTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Core Bond Fund (TAIBX) and PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX). 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.

	TAIBX	PCGTX	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.79	-0.56
Sortino ratio: Return per unit of downside risk	1.87	3.13	-1.25
Omega ratio: Gain probability vs. loss probability	1.24	1.39	-0.15
Calmar ratio: Return relative to maximum drawdown	1.85	3.29	-1.45
Martin ratio: Return relative to average drawdown	5.45	11.29	-5.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TAIBX vs. PCGTX - Sharpe Ratio Comparison

The current TAIBX Sharpe Ratio is 1.24, which is lower than the PCGTX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of TAIBX and PCGTX, 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

	TAIBX	PCGTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	1.79	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	0.04	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.29	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	0.96	+0.06

Drawdowns

TAIBX vs. PCGTX - Drawdown Comparison

The maximum TAIBX drawdown since its inception was -20.09%, roughly equal to the maximum PCGTX drawdown of -19.34%. Use the drawdown chart below to compare losses from any high point for TAIBX and PCGTX.

Drawdown Indicators

	TAIBX	PCGTX	Difference
Max Drawdown Largest peak-to-trough decline	-20.09%	-19.34%	-0.75%
Max Drawdown (1Y) Largest decline over 1 year	-3.07%	-3.09%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-6.23%	-7.94%	+1.71%
Max Drawdown (5Y) Largest decline over 5 years	-19.91%	-19.20%	-0.71%
Max Drawdown (10Y) Largest decline over 10 years	-20.09%	-19.34%	-0.75%
Current Drawdown Current decline from peak	-2.98%	-1.49%	-1.49%
Average Drawdown Average peak-to-trough decline	-2.32%	-1.85%	-0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	0.89%	+0.15%

Volatility

TAIBX vs. PCGTX - Volatility Comparison

PGIM Core Bond Fund (TAIBX) has a higher volatility of 2.54% compared to PACE Mortgage-Backed Securities Fixed Income Investments (PCGTX) at 1.79%. This indicates that TAIBX's price experiences larger fluctuations and is considered to be riskier than PCGTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TAIBX	PCGTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	1.79%	+0.75%
Volatility (6M) Calculated over the trailing 6-month period	3.58%	4.41%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	4.57%	5.67%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.15%	7.16%	-1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.08%	5.39%	-0.31%

TAIBX vs. PCGTX - Expense Ratio Comparison

TAIBX has a 0.33% expense ratio, which is lower than PCGTX's 0.73% expense ratio.

Dividends

TAIBX vs. PCGTX - Dividend Comparison

TAIBX's dividend yield for the trailing twelve months is around 4.49%, which matches PCGTX's 4.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCGTX PACE Mortgage-Backed Securities Fixed Income Investments	4.49%	3.78%	5.36%	5.02%	3.67%	2.87%	3.23%	3.53%	3.34%	2.96%	2.71%	2.21%
TAIBX PGIM Core Bond Fund	4.49%	4.41%	3.77%	3.47%	2.48%	1.98%	3.14%	3.03%	3.03%	2.53%	2.55%	2.49%

Frequently Asked Questions

Can I hold both TAIBX and PCGTX in my portfolio?

TAIBX and PCGTX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TAIBX or PCGTX?

TAIBX has higher volatility (2.54%) compared to PCGTX (1.79%). In terms of maximum drawdown, TAIBX dropped -20.09% vs PCGTX's -19.34%.

Which has better risk-adjusted returns?

PCGTX currently has the higher Sharpe Ratio (1.79 vs 1.24), 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.