DMBS vs. PAB

Last updated Jun 4, 2026

DMBS (Doubleline Etf Trust - Mortgage ETF) and PAB (PGIM Active Aggregate Bond ETF) are both Intermediate Core Bond funds. Both are actively managed. Over the past 3 years, DMBS returned 4.62%/yr vs 4.45%/yr for PAB. Their correlation of 0.94 suggests significant overlap in exposure. DMBS charges 0.49%/yr vs 0.19%/yr for PAB.

Performance

DMBS vs. PAB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Doubleline Etf Trust - Mortgage ETF (DMBS) and PGIM Active Aggregate Bond ETF (PAB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DMBS achieves a 0.51% return, which is significantly higher than PAB's 0.17% return.

DMBS

• 1D: -0.20%
• 1M: 0.21%
• YTD: 0.51%
• 6M: 0.61%
• 1Y: 6.86%
• 3Y*: 4.62%
• 5Y*: —
• 10Y*: —

PAB

• 1D: -0.20%
• 1M: 0.26%
• YTD: 0.17%
• 6M: 0.12%
• 1Y: 5.49%
• 3Y*: 4.45%
• 5Y*: 0.15%
• 10Y*: —

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

DMBS vs. PAB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DMBS Doubleline Etf Trust - Mortgage ETF	0.51%	8.54%	2.09%	1.31%
PAB PGIM Active Aggregate Bond ETF	0.17%	7.55%	1.89%	2.35%

Correlation

The correlation between DMBS and PAB is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Apr 5, 2023	0.95

The correlation between DMBS and PAB has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

DMBS vs. PAB — Risk / Return Rank

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

DMBS

DMBS Risk / Return Rank: 48
DMBS Sharpe Ratio Rank: 48
DMBS Sortino Ratio Rank: 52
DMBS Omega Ratio Rank: 48
DMBS Calmar Ratio Rank: 44
DMBS Martin Ratio Rank: 47

PAB

PAB Risk / Return Rank: 40
PAB Sharpe Ratio Rank: 41
PAB Sortino Ratio Rank: 43
PAB Omega Ratio Rank: 39
PAB Calmar Ratio Rank: 39
PAB Martin Ratio Rank: 38

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.

DMBS vs. PAB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Doubleline Etf Trust - Mortgage ETF (DMBS) and PGIM Active Aggregate Bond ETF (PAB). 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.

	DMBS	PAB	Difference
Sharpe ratio Return per unit of total volatility	1.65	1.42	+0.23
Sortino ratio Return per unit of downside risk	2.49	2.14	+0.35
Omega ratio Gain probability vs. loss probability	1.30	1.25	+0.05
Calmar ratio Return relative to maximum drawdown	2.15	1.92	+0.23
Martin ratio Return relative to average drawdown	7.62	5.81	+1.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DMBS vs. PAB - Sharpe Ratio Comparison

The current DMBS Sharpe Ratio is 1.65, which is comparable to the PAB Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of DMBS and PAB, 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

	DMBS	PAB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	1.42	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.02	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.03	+0.59

Drawdowns

DMBS vs. PAB - Drawdown Comparison

The maximum DMBS drawdown since its inception was -8.14%, smaller than the maximum PAB drawdown of -19.27%. Use the drawdown chart below to compare losses from any high point for DMBS and PAB.

Drawdown Indicators

	DMBS	PAB	Difference
Max Drawdown Largest peak-to-trough decline	-8.14%	-19.27%	+11.13%
Max Drawdown (1Y) Largest decline over 1 year	-3.20%	-2.86%	-0.34%
Max Drawdown (3Y) Largest decline over 3 years	-7.24%	-5.95%	-1.29%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.27%	—
Current Drawdown Current decline from peak	-1.59%	-1.70%	+0.11%
Average Drawdown Average peak-to-trough decline	-1.70%	-7.83%	+6.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	0.95%	-0.05%

Volatility

DMBS vs. PAB - Volatility Comparison

Doubleline Etf Trust - Mortgage ETF (DMBS) has a higher volatility of 1.61% compared to PGIM Active Aggregate Bond ETF (PAB) at 1.35%. This indicates that DMBS's price experiences larger fluctuations and is considered to be riskier than PAB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DMBS	PAB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.61%	1.35%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	3.02%	2.79%	+0.23%
Volatility (1Y) Calculated over the trailing 1-year period	4.18%	3.89%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.28%	6.22%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.28%	6.16%	+0.12%

DMBS vs. PAB - Expense Ratio Comparison

DMBS has a 0.49% expense ratio, which is higher than PAB's 0.19% expense ratio.

Dividends

DMBS vs. PAB - Dividend Comparison

DMBS's dividend yield for the trailing twelve months is around 5.12%, more than PAB's 4.56% yield.

Position	TTM	2025	2024	2023	2022	2021
DMBS Doubleline Etf Trust - Mortgage ETF	5.12%	4.96%	4.97%	2.82%	0.00%	0.00%
PAB PGIM Active Aggregate Bond ETF	4.56%	4.28%	4.25%	3.70%	2.81%	2.34%

Frequently Asked Questions

Can I hold both DMBS and PAB in my portfolio?

With a correlation of 0.92, DMBS and PAB 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, DMBS or PAB?

DMBS has higher volatility (1.61%) compared to PAB (1.35%). In terms of maximum drawdown, DMBS dropped -8.14% vs PAB's -19.27%.

Which ETF is better, DMBS or PAB?

On 3-year performance, DMBS leads with 4.62% vs 4.45% for PAB. On fees, PAB is cheaper at 0.19% per year. On volatility, PAB has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DMBS or PAB?

Over the 3-year period, DMBS has performed better with a 4.62% return vs 4.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DMBS or PAB?

PAB is cheaper with a 0.19% expense ratio, compared with 0.49% for DMBS.

Which ETF pays a higher dividend yield, DMBS or PAB?

DMBS has the higher dividend yield at 5.12%, compared with 4.56% for PAB.

What is the main difference between DMBS and PAB?

They also come from different issuers: DoubleLine and PGIM. Their fees differ too: 0.49% for DMBS and 0.19% for PAB.

Which has better risk-adjusted returns?

DMBS currently has the higher Sharpe Ratio (1.65 vs 1.42), 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.