TCPYX vs. TAIBX
TCPYX (Touchstone Impact Bond Fund) and TAIBX (PGIM Core Bond Fund) are both Intermediate Core Bond funds. Over the past 10 years, TCPYX returned 1.51%/yr vs 1.59%/yr for TAIBX. Their correlation of 0.88 suggests significant overlap in exposure. TCPYX charges 0.51%/yr vs 0.33%/yr for TAIBX.
Performance
TCPYX vs. TAIBX - Performance Comparison
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Returns By Period
In the year-to-date period, TCPYX achieves a 0.53% return, which is significantly higher than TAIBX's 0.13% return. Over the past 10 years, TCPYX has underperformed TAIBX with an annualized return of 1.51%, while TAIBX has yielded a comparatively higher 1.59% annualized return.
TCPYX
- 1D
- -0.22%
- 1M
- 0.90%
- YTD
- 0.53%
- 6M
- 0.70%
- 1Y
- 4.32%
- 3Y*
- 4.11%
- 5Y*
- -0.05%
- 10Y*
- 1.51%
TAIBX
- 1D
- -0.34%
- 1M
- 0.62%
- YTD
- 0.13%
- 6M
- 0.63%
- 1Y
- 4.55%
- 3Y*
- 4.07%
- 5Y*
- -0.23%
- 10Y*
- 1.59%
TCPYX vs. TAIBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TCPYX Touchstone Impact Bond Fund | 0.53% | 6.75% | 1.77% | 5.32% | -13.07% | -1.01% | 6.72% | 7.91% | 0.16% | 3.94% |
TAIBX PGIM Core Bond Fund | 0.13% | 7.36% | 1.44% | 5.89% | -14.59% | -1.73% | 8.40% | 9.13% | -0.44% | 4.03% |
Correlation
The correlation between TCPYX and TAIBX is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2009 | 0.88 |
The correlation between TCPYX and TAIBX has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.
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Return for Risk
TCPYX vs. TAIBX — Risk / Return Rank
TCPYX
TAIBX
TCPYX vs. TAIBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Touchstone Impact Bond Fund (TCPYX) and PGIM Core Bond Fund (TAIBX). 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.
| TCPYX | TAIBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.20 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 1.57 | +0.04 |
| Martin ratioReturn relative to average drawdown | 4.56 | 4.36 | +0.20 |
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Drawdowns
TCPYX vs. TAIBX - Drawdown Comparison
The maximum TCPYX drawdown since its inception was -18.12%, smaller than the maximum TAIBX drawdown of -20.09%. Use the drawdown chart below to compare losses from any high point for TCPYX and TAIBX.
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Drawdown Indicators
| TCPYX | TAIBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.12% | -20.09% | +1.97% |
Max Drawdown (1Y)Largest decline over 1 year | -2.92% | -3.07% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -5.79% | -6.23% | +0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -18.12% | -19.91% | +1.79% |
Max Drawdown (10Y)Largest decline over 10 years | -18.12% | -20.09% | +1.97% |
Current DrawdownCurrent decline from peak | -1.98% | -3.09% | +1.11% |
Average DrawdownAverage peak-to-trough decline | -3.22% | -2.32% | -0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 1.10% | -0.07% |
Volatility
TCPYX vs. TAIBX - Volatility Comparison
The current volatility for Touchstone Impact Bond Fund (TCPYX) is 1.06%, while PGIM Core Bond Fund (TAIBX) has a volatility of 2.46%. This indicates that TCPYX experiences smaller price fluctuations and is considered to be less risky than TAIBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCPYX | TAIBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 2.46% | -1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 2.85% | 3.67% | -0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.88% | 4.53% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.90% | 6.16% | -0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 5.08% | -0.23% |
TCPYX vs. TAIBX - Expense Ratio Comparison
TCPYX has a 0.51% expense ratio, which is higher than TAIBX's 0.33% expense ratio.
Dividends
TCPYX vs. TAIBX - Dividend Comparison
TCPYX's dividend yield for the trailing twelve months is around 3.93%, less than TAIBX's 4.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TCPYX Touchstone Impact Bond Fund | 3.93% | 3.52% | 3.68% | 3.22% | 2.63% | 1.91% | 2.13% | 2.63% | 2.86% | 2.77% | 2.98% | 2.91% |
Frequently Asked Questions
TCPYX and TAIBX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TAIBX has higher volatility (2.46%) compared to TCPYX (1.06%). In terms of maximum drawdown, TCPYX dropped -18.12% vs TAIBX's -20.09%.
TCPYX currently has the higher Sharpe Ratio (1.21 vs 1.06), 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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