PBL vs. MDIV
PBL (PGIM Portfolio Ballast ETF) and MDIV (First Trust Multi-Asset Diversified Income Index Fund) are both Diversified Portfolio funds. PBL is actively managed, while MDIV is passively managed. Over the past 3 years, PBL returned 15.09%/yr vs 11.41%/yr for MDIV. A 0.54 correlation means they provide meaningful diversification when combined. PBL charges 0.45%/yr vs 0.73%/yr for MDIV.
Performance
PBL vs. MDIV - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with PBL having a 7.85% return and MDIV slightly lower at 7.68%.
PBL
- 1D
- -0.21%
- 1M
- 4.07%
- YTD
- 7.85%
- 6M
- 8.56%
- 1Y
- 19.49%
- 3Y*
- 15.09%
- 5Y*
- —
- 10Y*
- —
MDIV
- 1D
- -0.65%
- 1M
- 0.10%
- YTD
- 7.68%
- 6M
- 7.38%
- 1Y
- 11.03%
- 3Y*
- 11.41%
- 5Y*
- 5.65%
- 10Y*
- 4.66%
PBL vs. MDIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PBL PGIM Portfolio Ballast ETF | 7.85% | 12.35% | 16.70% | 14.28% | -3.52% |
MDIV First Trust Multi-Asset Diversified Income Index Fund | 7.68% | 3.77% | 10.05% | 11.50% | -1.87% |
Correlation
The correlation between PBL and MDIV is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2022 | 0.54 |
The correlation between PBL and MDIV shifts across timeframes, from 0.37 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PBL vs. MDIV — Risk / Return Rank
PBL
MDIV
PBL vs. MDIV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Portfolio Ballast ETF (PBL) and First Trust Multi-Asset Diversified Income Index Fund (MDIV). 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.
| PBL | MDIV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.29 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.37 | 3.27 | +0.10 |
| Martin ratioReturn relative to average drawdown | 13.56 | 9.10 | +4.46 |
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
| PBL | MDIV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.21 | 1.65 | +0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.52 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.31 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.40 | 0.34 | +1.06 |
Drawdowns
PBL vs. MDIV - Drawdown Comparison
The maximum PBL drawdown since its inception was -11.69%, smaller than the maximum MDIV drawdown of -48.50%. Use the drawdown chart below to compare losses from any high point for PBL and MDIV.
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Drawdown Indicators
| PBL | MDIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.69% | -48.50% | +36.81% |
Max Drawdown (1Y)Largest decline over 1 year | -5.82% | -3.39% | -2.43% |
Max Drawdown (3Y)Largest decline over 3 years | -11.69% | -9.62% | -2.07% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.02% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.50% | — |
Current DrawdownCurrent decline from peak | -0.21% | -1.14% | +0.93% |
Average DrawdownAverage peak-to-trough decline | -1.65% | -4.58% | +2.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.44% | 1.22% | +0.22% |
Volatility
PBL vs. MDIV - Volatility Comparison
PGIM Portfolio Ballast ETF (PBL) has a higher volatility of 2.51% compared to First Trust Multi-Asset Diversified Income Index Fund (MDIV) at 1.62%. This indicates that PBL's price experiences larger fluctuations and is considered to be riskier than MDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBL | MDIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.51% | 1.62% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 6.56% | 4.32% | +2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.87% | 6.71% | +2.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.83% | 10.93% | -1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.83% | 15.23% | -5.40% |
PBL vs. MDIV - Expense Ratio Comparison
PBL has a 0.45% expense ratio, which is lower than MDIV's 0.73% expense ratio.
Dividends
PBL vs. MDIV - Dividend Comparison
PBL's dividend yield for the trailing twelve months is around 2.05%, less than MDIV's 6.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDIV First Trust Multi-Asset Diversified Income Index Fund | 6.39% | 6.51% | 6.40% | 6.08% | 6.71% | 5.30% | 6.00% | 5.90% | 6.76% | 6.04% | 6.35% | 7.38% |
PBL PGIM Portfolio Ballast ETF | 2.05% | 2.21% | 6.89% | 7.92% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PBL and MDIV have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBL has higher volatility (2.51%) compared to MDIV (1.62%). In terms of maximum drawdown, PBL dropped -11.69% vs MDIV's -48.50%.
On 3-year performance, PBL leads with 15.09% vs 11.41% for MDIV. On fees, PBL is cheaper at 0.45% per year. On volatility, MDIV has been the lower-risk option at 1.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PBL has performed better with a 15.09% return vs 11.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PBL is cheaper with a 0.45% expense ratio, compared with 0.73% for MDIV.
MDIV has the higher dividend yield at 6.39%, compared with 2.05% for PBL.
They also come from different issuers: PGIM and First Trust. Their fees differ too: 0.45% for PBL and 0.73% for MDIV.
PBL currently has the higher Sharpe Ratio (2.21 vs 1.65), 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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