IGEB vs. PTBD
IGEB (iShares Investment Grade Bond Factor ETF) and PTBD (Pacer Trendpilot US Bond ETF) are both exchange-traded funds - IGEB is a Corporate Bonds fund tracking the BlackRock Investment Grade Enhanced Bond Index, while PTBD is a High Yield Bonds fund tracking the Pacer Trendpilot US Bond Index. Both are passively managed. Over the past 5 years, IGEB returned 0.96%/yr vs -1.63%/yr for PTBD. A 0.57 correlation means they provide meaningful diversification when combined. IGEB charges 0.18%/yr vs 0.60%/yr for PTBD.
Performance
IGEB vs. PTBD - Performance Comparison
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Returns By Period
In the year-to-date period, IGEB achieves a 0.63% return, which is significantly lower than PTBD's 1.25% return.
IGEB
- 1D
- 0.11%
- 1M
- 0.70%
- YTD
- 0.63%
- 6M
- 0.75%
- 1Y
- 5.09%
- 3Y*
- 5.88%
- 5Y*
- 0.96%
- 10Y*
- —
PTBD
- 1D
- -0.06%
- 1M
- 0.70%
- YTD
- 1.25%
- 6M
- 1.46%
- 1Y
- 3.39%
- 3Y*
- 5.42%
- 5Y*
- -1.63%
- 10Y*
- —
IGEB vs. PTBD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IGEB iShares Investment Grade Bond Factor ETF | 0.63% | 8.17% | 3.10% | 9.56% | -14.85% | -1.14% | 11.23% | 1.30% |
PTBD Pacer Trendpilot US Bond ETF | 1.25% | 2.49% | 4.24% | 8.84% | -20.88% | 0.47% | 10.62% | 2.16% |
Correlation
The correlation between IGEB and PTBD is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2019 | 0.57 |
The correlation between IGEB and PTBD shifts across timeframes, from 0.57 (all time) to 0.71 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IGEB vs. PTBD — Risk / Return Rank
IGEB
PTBD
IGEB vs. PTBD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Investment Grade Bond Factor ETF (IGEB) and Pacer Trendpilot US Bond ETF (PTBD). 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.
| IGEB | PTBD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.16 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.77 | 1.09 | +0.68 |
| Martin ratioReturn relative to average drawdown | 5.64 | 4.12 | +1.52 |
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Drawdowns
IGEB vs. PTBD - Drawdown Comparison
The maximum IGEB drawdown since its inception was -21.13%, smaller than the maximum PTBD drawdown of -26.00%. Use the drawdown chart below to compare losses from any high point for IGEB and PTBD.
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Drawdown Indicators
| IGEB | PTBD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.13% | -26.00% | +4.87% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -3.12% | +0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -5.95% | -3.82% | -2.13% |
Max Drawdown (5Y)Largest decline over 5 years | -21.13% | -26.00% | +4.87% |
Current DrawdownCurrent decline from peak | -0.82% | -8.64% | +7.82% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -10.15% | +5.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 0.82% | +0.09% |
Volatility
IGEB vs. PTBD - Volatility Comparison
The current volatility for iShares Investment Grade Bond Factor ETF (IGEB) is 1.17%, while Pacer Trendpilot US Bond ETF (PTBD) has a volatility of 1.24%. This indicates that IGEB experiences smaller price fluctuations and is considered to be less risky than PTBD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGEB | PTBD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.24% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 3.15% | 2.94% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.15% | 3.83% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.70% | 7.27% | -0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.51% | 7.79% | -1.28% |
IGEB vs. PTBD - Expense Ratio Comparison
IGEB has a 0.18% expense ratio, which is lower than PTBD's 0.60% expense ratio.
Dividends
IGEB vs. PTBD - Dividend Comparison
IGEB's dividend yield for the trailing twelve months is around 5.05%, less than PTBD's 5.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IGEB iShares Investment Grade Bond Factor ETF | 5.05% | 4.92% | 5.09% | 4.60% | 3.64% | 3.84% | 3.78% | 5.61% | 3.59% | 1.62% |
PTBD Pacer Trendpilot US Bond ETF | 5.86% | 5.62% | 6.56% | 6.55% | 6.14% | 2.70% | 2.50% | 0.62% | 0.00% | 0.00% |
Frequently Asked Questions
IGEB and PTBD have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTBD has higher volatility (1.24%) compared to IGEB (1.17%). In terms of maximum drawdown, IGEB dropped -21.13% vs PTBD's -26.00%.
On 5-year performance, IGEB leads with 0.96% vs -1.63% for PTBD. On fees, IGEB is cheaper at 0.18% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IGEB has performed better with a 0.96% return vs -1.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGEB is cheaper with a 0.18% expense ratio, compared with 0.60% for PTBD.
PTBD has the higher dividend yield at 5.86%, compared with 5.05% for IGEB.
IGEB is categorized as Corporate Bonds, while PTBD is High Yield Bonds. IGEB tracks BlackRock Investment Grade Enhanced Bond Index, while PTBD tracks Pacer Trendpilot US Bond Index. They also come from different issuers: iShares and Pacer. Their fees differ too: 0.18% for IGEB and 0.60% for PTBD.
IGEB currently has the higher Sharpe Ratio (1.23 vs 0.89), 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.
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