PAB vs. BBAG

Last updated Jun 4, 2026

PAB (PGIM Active Aggregate Bond ETF) and BBAG (JPMorgan BetaBuilders U.S. Aggregate Bond ETF) are both Intermediate Core Bond funds. PAB is actively managed, while BBAG is passively managed. Over the past 5 years, PAB returned 0.15%/yr vs -0.01%/yr for BBAG. With a 0.96 correlation, they move nearly in lockstep. PAB charges 0.19%/yr vs 0.03%/yr for BBAG.

Performance

PAB vs. BBAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Active Aggregate Bond ETF (PAB) and JPMorgan BetaBuilders U.S. Aggregate Bond ETF (BBAG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with PAB at 0.17% and BBAG at 0.17%.

PAB

• 1D: -0.20%
• 1M: 0.26%
• YTD: 0.17%
• 6M: 0.12%
• 1Y: 5.49%
• 3Y*: 4.45%
• 5Y*: 0.15%
• 10Y*: —

BBAG

• 1D: -0.23%
• 1M: 0.21%
• YTD: 0.17%
• 6M: 0.02%
• 1Y: 5.12%
• 3Y*: 3.86%
• 5Y*: -0.01%
• 10Y*: —

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

PAB vs. BBAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PAB PGIM Active Aggregate Bond ETF	0.17%	7.55%	1.89%	6.37%	-14.24%	0.90%
BBAG JPMorgan BetaBuilders U.S. Aggregate Bond ETF	0.17%	7.27%	1.26%	5.41%	-13.26%	0.60%

Correlation

The correlation between PAB and BBAG is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Apr 16, 2021	0.96

The correlation between PAB and BBAG has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

PAB vs. BBAG - Sectors Allocation Comparison

Sectors	PAB	BBAG
Financial Services	4.3%	6.5%
Basic Materials	-	0.5%
Communication Services	-	46.6%
Consumer Cyclical	-	1.6%
Consumer Defensive	-	1.0%
Energy	-	1.2%
Healthcare	-	2.6%
Industrials	-	1.6%
Real Estate	-	6.8%
Technology	-	12.0%
Utilities	-	2.3%

Return for Risk

PAB vs. BBAG — Risk / Return Rank

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

PAB

PAB Risk / Return Rank: 40
PAB Sharpe Ratio Rank: 41
PAB Sortino Ratio Rank: 43
PAB Omega Ratio Rank: 39
PAB Calmar Ratio Rank: 39
PAB Martin Ratio Rank: 38

BBAG

BBAG Risk / Return Rank: 37
BBAG Sharpe Ratio Rank: 37
BBAG Sortino Ratio Rank: 38
BBAG Omega Ratio Rank: 35
BBAG Calmar Ratio Rank: 38
BBAG Martin Ratio Rank: 36

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.

PAB vs. BBAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Active Aggregate Bond ETF (PAB) and JPMorgan BetaBuilders U.S. Aggregate Bond ETF (BBAG). 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.

	PAB	BBAG	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.31	+0.11
Sortino ratio: Return per unit of downside risk	2.14	1.96	+0.18
Omega ratio: Gain probability vs. loss probability	1.25	1.23	+0.02
Calmar ratio: Return relative to maximum drawdown	1.92	1.85	+0.07
Martin ratio: Return relative to average drawdown	5.81	5.54	+0.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAB vs. BBAG - Sharpe Ratio Comparison

The current PAB Sharpe Ratio is 1.42, which is comparable to the BBAG Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of PAB and BBAG, 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

	PAB	BBAG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	1.31	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	-0.00	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.32	-0.29

Drawdowns

PAB vs. BBAG - Drawdown Comparison

The maximum PAB drawdown since its inception was -19.27%, roughly equal to the maximum BBAG drawdown of -18.73%. Use the drawdown chart below to compare losses from any high point for PAB and BBAG.

Drawdown Indicators

	PAB	BBAG	Difference
Max Drawdown Largest peak-to-trough decline	-19.27%	-18.73%	-0.54%
Max Drawdown (1Y) Largest decline over 1 year	-2.86%	-2.78%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	-5.95%	-6.18%	+0.23%
Max Drawdown (5Y) Largest decline over 5 years	-19.27%	-18.06%	-1.21%
Current Drawdown Current decline from peak	-1.70%	-2.84%	+1.14%
Average Drawdown Average peak-to-trough decline	-7.83%	-6.22%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.93%	+0.02%

Volatility

PAB vs. BBAG - Volatility Comparison

PGIM Active Aggregate Bond ETF (PAB) has a higher volatility of 1.35% compared to JPMorgan BetaBuilders U.S. Aggregate Bond ETF (BBAG) at 1.24%. This indicates that PAB's price experiences larger fluctuations and is considered to be riskier than BBAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAB	BBAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	1.24%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	2.79%	2.82%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	3.89%	3.92%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.22%	5.93%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.16%	5.80%	+0.36%

PAB vs. BBAG - Expense Ratio Comparison

PAB has a 0.19% expense ratio, which is higher than BBAG's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PAB vs. BBAG - Dividend Comparison

PAB's dividend yield for the trailing twelve months is around 4.56%, more than BBAG's 4.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BBAG JPMorgan BetaBuilders U.S. Aggregate Bond ETF	4.37%	4.29%	4.25%	3.60%	2.23%	1.44%	2.26%	2.92%	0.16%
PAB PGIM Active Aggregate Bond ETF	4.56%	4.28%	4.25%	3.70%	2.81%	2.34%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PAB and BBAG in my portfolio?

With a correlation of 0.93, PAB and BBAG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PAB or BBAG?

PAB has higher volatility (1.35%) compared to BBAG (1.24%). In terms of maximum drawdown, PAB dropped -19.27% vs BBAG's -18.73%.

Which ETF is better, PAB or BBAG?

On 5-year performance, PAB leads with 0.15% vs -0.01% for BBAG. On fees, BBAG is cheaper at 0.03% per year. On volatility, BBAG has been the lower-risk option at 1.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PAB or BBAG?

Over the 5-year period, PAB has performed better with a 0.15% return vs -0.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PAB or BBAG?

BBAG is cheaper with a 0.03% expense ratio, compared with 0.19% for PAB.

Which ETF pays a higher dividend yield, PAB or BBAG?

PAB has the higher dividend yield at 4.56%, compared with 4.37% for BBAG.

What is the main difference between PAB and BBAG?

They also come from different issuers: PGIM and JPMorgan. Their fees differ too: 0.19% for PAB and 0.03% for BBAG.

Which has better risk-adjusted returns?

PAB currently has the higher Sharpe Ratio (1.42 vs 1.31), 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.