MRCP vs. PTRB

Last updated Jun 4, 2026

MRCP (PGIM US Large-Cap Buffer 12 ETF - March) and PTRB (PGIM Total Return Bond ETF) are both exchange-traded funds - MRCP is a Options Trading fund actively managed by PGIM, while PTRB is a Intermediate Core-Plus Bond fund actively managed by PGIM. Both are actively managed. Over the past year, MRCP returned 18.03% vs 5.81% for PTRB. At a 0.23 correlation, their price movements are largely independent. MRCP charges 0.50%/yr vs 0.49%/yr for PTRB.

Performance

MRCP vs. PTRB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM US Large-Cap Buffer 12 ETF - March (MRCP) and PGIM Total Return Bond ETF (PTRB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MRCP achieves a 7.27% return, which is significantly higher than PTRB's 0.34% return.

MRCP

• 1D: -0.22%
• 1M: 2.27%
• YTD: 7.27%
• 6M: 8.29%
• 1Y: 18.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PTRB

• 1D: -0.19%
• 1M: 0.28%
• YTD: 0.34%
• 6M: 0.41%
• 1Y: 5.81%
• 3Y*: 5.11%
• 5Y*: —
• 10Y*: —

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

MRCP vs. PTRB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MRCP PGIM US Large-Cap Buffer 12 ETF - March	7.27%	14.13%	11.42%
PTRB PGIM Total Return Bond ETF	0.34%	7.63%	3.35%

Correlation

The correlation between MRCP and PTRB is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (All Time) Calculated using the full available price history since Mar 4, 2024	0.23

Return for Risk

MRCP vs. PTRB — Risk / Return Rank

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

MRCP

MRCP Risk / Return Rank: 87
MRCP Sharpe Ratio Rank: 88
MRCP Sortino Ratio Rank: 91
MRCP Omega Ratio Rank: 92
MRCP Calmar Ratio Rank: 75
MRCP Martin Ratio Rank: 91

PTRB

PTRB Risk / Return Rank: 40
PTRB Sharpe Ratio Rank: 41
PTRB Sortino Ratio Rank: 42
PTRB Omega Ratio Rank: 39
PTRB Calmar Ratio Rank: 41
PTRB 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.

MRCP vs. PTRB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM US Large-Cap Buffer 12 ETF - March (MRCP) and PGIM Total Return Bond ETF (PTRB). 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.

	MRCP	PTRB	Difference
Sharpe ratio: Return per unit of total volatility	2.91	1.46	+1.45
Sortino ratio: Return per unit of downside risk	4.29	2.13	+2.16
Omega ratio: Gain probability vs. loss probability	1.61	1.26	+0.36
Calmar ratio: Return relative to maximum drawdown	3.76	2.01	+1.75
Martin ratio: Return relative to average drawdown	21.57	6.00	+15.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MRCP vs. PTRB - Sharpe Ratio Comparison

The current MRCP Sharpe Ratio is 2.91, which is higher than the PTRB Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of MRCP and PTRB, 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

	MRCP	PTRB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.91	1.46	+1.45
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	0.06	+1.55

Drawdowns

MRCP vs. PTRB - Drawdown Comparison

The maximum MRCP drawdown since its inception was -10.73%, smaller than the maximum PTRB drawdown of -19.17%. Use the drawdown chart below to compare losses from any high point for MRCP and PTRB.

Drawdown Indicators

	MRCP	PTRB	Difference
Max Drawdown Largest peak-to-trough decline	-10.73%	-19.17%	+8.44%
Max Drawdown (1Y) Largest decline over 1 year	-4.81%	-2.90%	-1.91%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.52%	—
Current Drawdown Current decline from peak	-0.22%	-1.61%	+1.39%
Average Drawdown Average peak-to-trough decline	-0.77%	-7.64%	+6.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	0.97%	-0.13%

Volatility

MRCP vs. PTRB - Volatility Comparison

PGIM US Large-Cap Buffer 12 ETF - March (MRCP) and PGIM Total Return Bond ETF (PTRB) have volatilities of 1.36% and 1.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MRCP	PTRB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	1.37%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	4.95%	2.83%	+2.12%
Volatility (1Y) Calculated over the trailing 1-year period	6.24%	4.01%	+2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.27%	6.25%	+3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.27%	6.25%	+3.02%

MRCP vs. PTRB - Expense Ratio Comparison

MRCP has a 0.50% expense ratio, which is higher than PTRB's 0.49% expense ratio.

Dividends

MRCP vs. PTRB - Dividend Comparison

MRCP has not paid dividends to shareholders, while PTRB's dividend yield for the trailing twelve months is around 4.74%.

Position	TTM	2025	2024	2023	2022	2021
MRCP PGIM US Large-Cap Buffer 12 ETF - March	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PTRB PGIM Total Return Bond ETF	4.74%	4.73%	5.10%	4.62%	4.07%	0.12%

Frequently Asked Questions

Can I hold both MRCP and PTRB in my portfolio?

MRCP and PTRB have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MRCP or PTRB?

PTRB has higher volatility (1.37%) compared to MRCP (1.36%). In terms of maximum drawdown, MRCP dropped -10.73% vs PTRB's -19.17%.

Which ETF is better, MRCP or PTRB?

On 1-year performance, MRCP leads with 18.03% vs 5.81% for PTRB. On fees, PTRB is cheaper at 0.49% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MRCP or PTRB?

Over the 1-year period, MRCP has performed better with a 18.03% return vs 5.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MRCP or PTRB?

PTRB is cheaper with a 0.49% expense ratio, compared with 0.50% for MRCP.

Which ETF pays a higher dividend yield, MRCP or PTRB?

PTRB has the higher dividend yield at 4.74%, compared with 0.00% for MRCP.

What is the main difference between MRCP and PTRB?

MRCP is categorized as Options Trading, while PTRB is Intermediate Core-Plus Bond. Their fees differ too: 0.50% for MRCP and 0.49% for PTRB.

Which has better risk-adjusted returns?

MRCP currently has the higher Sharpe Ratio (2.91 vs 1.46), 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.