PBL vs. PFRL

Last updated Apr 1, 2026

Compare and contrast key facts about PGIM Portfolio Ballast ETF (PBL) and PGIM Floating Rate Income ETF (PFRL).

PBL and PFRL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PBL is an actively managed fund by PGIM. It was launched on Dec 12, 2022. PFRL is an actively managed fund by PGIM. It was launched on May 17, 2022.

Performance

PBL vs. PFRL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Portfolio Ballast ETF (PBL) and PGIM Floating Rate Income ETF (PFRL). The values are adjusted to include any dividend payments, if applicable.

PBL vs. PFRL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PBL PGIM Portfolio Ballast ETF	-2.98%	12.35%	16.70%	14.28%	-3.52%
PFRL PGIM Floating Rate Income ETF	-0.51%	6.25%	9.40%	13.75%	-0.17%

Returns By Period

In the year-to-date period, PBL achieves a -2.98% return, which is significantly lower than PFRL's -0.51% return.

PBL

• 1D: 1.41%
• 1M: -3.30%
• YTD: -2.98%
• 6M: -1.20%
• 1Y: 11.71%
• 3Y*: 11.99%
• 5Y*: —
• 10Y*: —

PFRL

• 1D: 0.12%
• 1M: 0.48%
• YTD: -0.51%
• 6M: 1.06%
• 1Y: 5.35%
• 3Y*: 8.43%
• 5Y*: —
• 10Y*: —

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

PBL vs. PFRL - Expense Ratio Comparison

PBL has a 0.45% expense ratio, which is lower than PFRL's 0.72% expense ratio.

PFRL

PGIM Floating Rate Income ETF

PBL

PGIM Portfolio Ballast ETF

Return for Risk

PBL vs. PFRL — Risk / Return Rank

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

PBL

PBL Risk / Return Rank: 63
PBL Sharpe Ratio Rank: 58
PBL Sortino Ratio Rank: 59
PBL Omega Ratio Rank: 54
PBL Calmar Ratio Rank: 71
PBL Martin Ratio Rank: 72

PFRL

PFRL Risk / Return Rank: 48
PFRL Sharpe Ratio Rank: 35
PFRL Sortino Ratio Rank: 27
PFRL Omega Ratio Rank: 86
PFRL Calmar Ratio Rank: 29
PFRL Martin Ratio Rank: 63

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.

PBL vs. PFRL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Portfolio Ballast ETF (PBL) and PGIM Floating Rate Income ETF (PFRL). 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	PFRL	Difference
Sharpe ratio Return per unit of total volatility	1.04	0.63	+0.41
Sortino ratio Return per unit of downside risk	1.55	0.77	+0.78
Omega ratio Gain probability vs. loss probability	1.21	1.34	-0.13
Calmar ratio Return relative to maximum drawdown	1.86	0.67	+1.19
Martin ratio Return relative to average drawdown	7.64	6.10	+1.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PBL vs. PFRL - Sharpe Ratio Comparison

The current PBL Sharpe Ratio is 1.04, which is higher than the PFRL Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of PBL and PFRL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PBL	PFRL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	0.63	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	1.57	-0.47

Correlation

The correlation between PBL and PFRL is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PBL vs. PFRL - Dividend Comparison

PBL's dividend yield for the trailing twelve months is around 2.28%, less than PFRL's 7.83% yield.

	TTM	2025	2024	2023	2022
PBL PGIM Portfolio Ballast ETF	2.28%	2.21%	6.89%	7.92%	0.16%
PFRL PGIM Floating Rate Income ETF	7.83%	7.34%	8.96%	9.84%	3.55%

Drawdowns

PBL vs. PFRL - Drawdown Comparison

The maximum PBL drawdown since its inception was -11.69%, which is greater than PFRL's maximum drawdown of -8.83%. Use the drawdown chart below to compare losses from any high point for PBL and PFRL.

Drawdown Indicators

	PBL	PFRL	Difference
Max Drawdown Largest peak-to-trough decline	-11.69%	-8.83%	-2.86%
Max Drawdown (1Y) Largest decline over 1 year	-6.63%	-7.87%	+1.24%
Current Drawdown Current decline from peak	-4.49%	-0.78%	-3.71%
Average Drawdown Average peak-to-trough decline	-1.69%	-0.46%	-1.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	0.86%	+0.75%

Volatility

PBL vs. PFRL - Volatility Comparison

PGIM Portfolio Ballast ETF (PBL) has a higher volatility of 3.20% compared to PGIM Floating Rate Income ETF (PFRL) at 0.74%. This indicates that PBL's price experiences larger fluctuations and is considered to be riskier than PFRL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBL	PFRL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.20%	0.74%	+2.46%
Volatility (6M) Calculated over the trailing 6-month period	6.85%	1.61%	+5.24%
Volatility (1Y) Calculated over the trailing 1-year period	11.36%	8.53%	+2.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.88%	4.96%	+4.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.88%	4.96%	+4.92%