FSEC vs. PCRB
FSEC (Fidelity Investment Grade Securitized ETF) and PCRB (Putnam ESG Core Bond ETF -) are both Intermediate Core Bond funds. Both are actively managed. Their correlation of 0.82 suggests significant overlap in exposure. FSEC charges 0.36%/yr vs 0.35%/yr for PCRB.
Performance
FSEC vs. PCRB - Performance Comparison
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Returns By Period
FSEC
- 1D
- -0.41%
- 1M
- -0.47%
- 6M
- -0.09%
- YTD
- 0.41%
- 1Y
- 5.36%
- 3Y*
- 4.62%
- 5Y*
- 0.38%
- 10Y*
- —
PCRB
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FSEC vs. PCRB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FSEC Fidelity Investment Grade Securitized ETF | 0.41% | 8.33% | 2.40% | 1.54% |
PCRB Putnam ESG Core Bond ETF - | -0.48% | 7.21% | 1.91% | 2.40% |
Correlation
The correlation between FSEC and PCRB is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023 | 0.82 |
The correlation between FSEC and PCRB shifts across timeframes, from 0.72 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FSEC vs. PCRB — Risk / Return Rank
FSEC
PCRB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FSEC vs. PCRB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Investment Grade Securitized ETF (FSEC) 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.
| FSEC | PCRB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.21 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | — | — |
| Martin ratioReturn relative to average drawdown | 5.99 | — | — |
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Drawdowns
FSEC vs. PCRB - Drawdown Comparison
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Drawdown Indicators
| FSEC | PCRB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.97% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -2.52% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -7.26% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.97% | — | — |
Current DrawdownCurrent decline from peak | -1.64% | — | — |
Average DrawdownAverage peak-to-trough decline | -6.52% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | — | — |
Volatility
FSEC vs. PCRB - Volatility Comparison
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Volatility by Period
| FSEC | PCRB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.37% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.70% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.80% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.58% | — | — |
FSEC vs. PCRB - Expense Ratio Comparison
FSEC has a 0.36% expense ratio, which is higher than PCRB's 0.35% expense ratio.
Dividends
FSEC vs. PCRB - Dividend Comparison
FSEC's dividend yield for the trailing twelve months is around 4.46%, while PCRB has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FSEC Fidelity Investment Grade Securitized ETF | 4.46% | 4.22% | 3.22% | 3.41% | 2.21% | 0.96% |
PCRB Putnam ESG Core Bond ETF - | 9.42% | 4.30% | 4.38% | 3.65% | 0.00% | 0.00% |
Frequently Asked Questions
FSEC and PCRB have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PCRB is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PCRB is cheaper with a 0.35% expense ratio, compared with 0.36% for FSEC.
PCRB has the higher dividend yield at 9.42%, compared with 4.46% for FSEC.
They also come from different issuers: Fidelity and Putnam. Their fees differ too: 0.36% for FSEC and 0.35% for PCRB.
Find the right allocation for FSEC and PCRB
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