AFIX vs. PCRB

Last updated Jul 14, 2026

AFIX (Allspring Broad Market Core Bond ETF) and PCRB (Putnam ESG Core Bond ETF -) are both Intermediate Core Bond funds. Both are actively managed. Their correlation of 0.92 suggests significant overlap in exposure. AFIX charges 0.20%/yr vs 0.35%/yr for PCRB.

Performance

AFIX vs. PCRB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Broad Market Core Bond ETF (AFIX) and Putnam ESG Core Bond ETF - (PCRB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AFIX

• 1D: -0.37%
• 1M: -0.70%
• 6M: -0.38%
• YTD: -0.10%
• 1Y: 4.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PCRB

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AFIX vs. PCRB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AFIX Allspring Broad Market Core Bond ETF	-0.10%	7.52%	-1.56%
PCRB Putnam ESG Core Bond ETF -	-0.48%	7.21%	-1.76%

Correlation

The correlation between AFIX and PCRB is 0.89, 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	0.89
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024	0.92

The correlation between AFIX and PCRB has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

AFIX vs. PCRB — Risk / Return Rank

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

AFIX

AFIX Risk / Return Rank: 34
AFIX Sharpe Ratio Rank: 36
AFIX Sortino Ratio Rank: 35
AFIX Omega Ratio Rank: 33
AFIX Calmar Ratio Rank: 32
AFIX Martin Ratio Rank: 32

PCRB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

AFIX vs. PCRB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Broad Market Core Bond ETF (AFIX) and Putnam ESG Core Bond ETF - (PCRB). 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.

	AFIX	PCRB	Difference
Sharpe ratio: Return per unit of total volatility	1.04	—	—
Sortino ratio: Return per unit of downside risk	1.54	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.31	—	—
Martin ratio: Return relative to average drawdown	3.64	—	—

Drawdowns

Drawdown Indicators

	AFIX	PCRB	Difference
Max Drawdown Largest peak-to-trough decline	-3.33%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.10%	—	—
Current Drawdown Current decline from peak	-2.27%	—	—
Average Drawdown Average peak-to-trough decline	-1.00%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.12%	—	—

Volatility

Volatility by Period

	AFIX	PCRB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.94%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.53%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.53%	—	—

AFIX vs. PCRB - Expense Ratio Comparison

AFIX has a 0.20% expense ratio, which is lower than PCRB's 0.35% expense ratio.

Dividends

AFIX vs. PCRB - Dividend Comparison

AFIX's dividend yield for the trailing twelve months is around 5.07%, while PCRB has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
AFIX Allspring Broad Market Core Bond ETF	5.07%	4.94%	0.38%	0.00%
PCRB Putnam ESG Core Bond ETF -	9.42%	4.30%	4.38%	3.65%

Frequently Asked Questions

Can I hold both AFIX and PCRB in my portfolio?

AFIX and PCRB have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AFIX or PCRB?

On fees, AFIX is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AFIX or PCRB?

AFIX is cheaper with a 0.20% expense ratio, compared with 0.35% for PCRB.

Which ETF pays a higher dividend yield, AFIX or PCRB?

PCRB has the higher dividend yield at 9.42%, compared with 5.07% for AFIX.

What is the main difference between AFIX and PCRB?

They also come from different issuers: Allspring and Putnam. Their fees differ too: 0.20% for AFIX and 0.35% for PCRB.