GBF vs. PCRB
Compare and contrast key facts about iShares Government/Credit Bond ETF (GBF) and Putnam ESG Core Bond ETF - (PCRB).
GBF and PCRB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GBF is a passively managed fund by iShares that tracks the performance of the Bloomberg U.S. Government/Credit Bond Index. It was launched on Jan 11, 2007. PCRB is an actively managed fund by Putnam. It was launched on Jan 19, 2023.
Performance
GBF vs. PCRB - Performance Comparison
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GBF vs. PCRB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GBF iShares Government/Credit Bond ETF | 0.09% | 6.41% | 0.99% | 2.49% |
PCRB Putnam ESG Core Bond ETF - | 0.33% | 7.21% | 1.91% | 2.41% |
Returns By Period
In the year-to-date period, GBF achieves a 0.09% return, which is significantly lower than PCRB's 0.33% return.
GBF
- 1D
- 0.22%
- 1M
- -1.72%
- YTD
- 0.09%
- 6M
- 0.70%
- 1Y
- 3.82%
- 3Y*
- 3.20%
- 5Y*
- -0.03%
- 10Y*
- 1.58%
PCRB
- 1D
- 0.21%
- 1M
- -1.54%
- YTD
- 0.33%
- 6M
- 1.27%
- 1Y
- 4.65%
- 3Y*
- 3.99%
- 5Y*
- —
- 10Y*
- —
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GBF vs. PCRB - Expense Ratio Comparison
GBF has a 0.20% expense ratio, which is lower than PCRB's 0.35% expense ratio.
Return for Risk
GBF vs. PCRB — Risk / Return Rank
GBF
PCRB
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.
| GBF | PCRB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 1.09 | -0.19 |
Sortino ratioReturn per unit of downside risk | 1.29 | 1.58 | -0.28 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.19 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.63 | 2.06 | -0.43 |
Martin ratioReturn relative to average drawdown | 4.61 | 5.79 | -1.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GBF | PCRB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 1.09 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.65 | -0.07 |
Correlation
The correlation between GBF and PCRB is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
GBF vs. PCRB - Dividend Comparison
GBF's dividend yield for the trailing twelve months is around 3.74%, less than PCRB's 9.42% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBF iShares Government/Credit Bond ETF | 3.74% | 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% |
Drawdowns
GBF vs. PCRB - Drawdown Comparison
The maximum GBF drawdown since its inception was -19.67%, which is greater than PCRB's maximum drawdown of -7.20%. Use the drawdown chart below to compare losses from any high point for GBF and PCRB.
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Drawdown Indicators
| GBF | PCRB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.67% | -7.20% | -12.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -2.42% | -0.08% |
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 | -4.96% | -1.54% | -3.42% |
Average DrawdownAverage peak-to-trough decline | -3.66% | -1.64% | -2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.86% | +0.02% |
Volatility
GBF vs. PCRB - Volatility Comparison
iShares Government/Credit Bond ETF (GBF) has a higher volatility of 1.64% compared to Putnam ESG Core Bond ETF - (PCRB) at 1.56%. This indicates that GBF's price experiences larger fluctuations and is considered to be riskier than PCRB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBF | PCRB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.64% | 1.56% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 2.49% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.24% | 4.28% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 5.71% | +0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.28% | 5.71% | -0.43% |