GBF vs. PCRB
GBF (iShares Government/Credit Bond ETF) and PCRB (Putnam ESG Core Bond ETF -) are both Intermediate Core Bond funds. GBF is passively managed, while PCRB is actively managed. Their correlation of 0.94 suggests significant overlap in exposure. GBF charges 0.20%/yr vs 0.35%/yr for PCRB.
Performance
GBF vs. PCRB - Performance Comparison
Loading charts...
Returns By Period
GBF
- 1D
- -0.05%
- 1M
- -0.51%
- 6M
- -0.32%
- YTD
- 0.12%
- 1Y
- 3.58%
- 3Y*
- 3.50%
- 5Y*
- -0.55%
- 10Y*
- 1.32%
PCRB
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GBF vs. PCRB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GBF iShares Government/Credit Bond ETF | 0.12% | 6.41% | 0.99% | 1.98% |
PCRB Putnam ESG Core Bond ETF - | -0.48% | 7.21% | 1.91% | 2.40% |
Correlation
The correlation between GBF and PCRB is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023 | 0.94 |
The correlation between GBF and PCRB has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GBF vs. PCRB — Risk / Return Rank
GBF
PCRB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GBF vs. PCRB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Government/Credit Bond ETF (GBF) 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.
| GBF | PCRB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.17 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | — | — |
| Martin ratioReturn relative to average drawdown | 3.49 | — | — |
Loading charts...
Drawdowns
GBF vs. PCRB - Drawdown Comparison
Loading charts...
Drawdown Indicators
| GBF | PCRB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.67% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.78% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.45% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.67% | — | — |
Current DrawdownCurrent decline from peak | -4.93% | — | — |
Average DrawdownAverage peak-to-trough decline | -3.68% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | — | — |
Volatility
GBF vs. PCRB - Volatility Comparison
Loading charts...
Volatility by Period
| GBF | PCRB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.69% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.27% | — | — |
GBF vs. PCRB - Expense Ratio Comparison
GBF has a 0.20% expense ratio, which is lower than PCRB's 0.35% expense ratio.
Dividends
GBF vs. PCRB - Dividend Comparison
GBF's dividend yield for the trailing twelve months is around 3.79%, while PCRB has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBF iShares Government/Credit Bond ETF | 3.79% | 3.81% | 3.94% | 3.03% | 2.13% | 1.22% | 1.64% | 2.64% | 2.59% | 2.31% | 2.09% | 2.04% |
PCRB Putnam ESG Core Bond ETF - | 9.42% | 4.30% | 4.38% | 3.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GBF and PCRB have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GBF is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GBF is cheaper with a 0.20% expense ratio, compared with 0.35% for PCRB.
PCRB has the higher dividend yield at 9.42%, compared with 3.79% for GBF.
They also come from different issuers: iShares and Putnam. Their fees differ too: 0.20% for GBF and 0.35% for PCRB.
Find the right allocation for GBF and PCRB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer