PBTP vs. EVLN

Last updated Jun 23, 2026

PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) and EVLN (Eaton Vance Floating-Rate ETF) are both exchange-traded funds - PBTP is a Inflation-Protected Bonds fund tracking the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y), while EVLN is a Bank Loan fund actively managed by Eaton Vance. PBTP is passively managed, while EVLN is actively managed. Over the past year, PBTP returned 3.62% vs 4.65% for EVLN. At a correlation of -0.02, they often move in opposite directions. PBTP charges 0.07%/yr vs 0.60%/yr for EVLN.

Performance

PBTP vs. EVLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) and Eaton Vance Floating-Rate ETF (EVLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PBTP having a 1.42% return and EVLN slightly higher at 1.49%.

PBTP

• 1D: -0.18%
• 1M: -0.30%
• YTD: 1.42%
• 6M: 1.44%
• 1Y: 3.62%
• 3Y*: 4.97%
• 5Y*: 3.22%
• 10Y*: —

EVLN

• 1D: -0.10%
• 1M: 0.32%
• YTD: 1.49%
• 6M: 1.59%
• 1Y: 4.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PBTP vs. EVLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF	1.42%	5.98%	4.70%
EVLN Eaton Vance Floating-Rate ETF	1.49%	5.59%	7.35%

Correlation

The correlation between PBTP and EVLN is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (All Time) Calculated using the full available price history since Feb 8, 2024	-0.02

The correlation between PBTP and EVLN shifts across timeframes, from -0.15 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PBTP vs. EVLN — Risk / Return Rank

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

PBTP

PBTP Risk / Return Rank: 82
PBTP Sharpe Ratio Rank: 73
PBTP Sortino Ratio Rank: 82
PBTP Omega Ratio Rank: 82
PBTP Calmar Ratio Rank: 88
PBTP Martin Ratio Rank: 86

EVLN

EVLN Risk / Return Rank: 73
EVLN Sharpe Ratio Rank: 81
EVLN Sortino Ratio Rank: 91
EVLN Omega Ratio Rank: 88
EVLN Calmar Ratio Rank: 55
EVLN Martin Ratio Rank: 52

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.

PBTP vs. EVLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) and Eaton Vance Floating-Rate ETF (EVLN). 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.

	PBTP	EVLN	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.50	-0.25
Sortino ratio: Return per unit of downside risk	3.46	4.12	-0.67
Omega ratio: Gain probability vs. loss probability	1.47	1.53	-0.06
Calmar ratio: Return relative to maximum drawdown	4.98	2.64	+2.34
Martin ratio: Return relative to average drawdown	17.63	8.61	+9.02

PBTP vs. EVLN - Sharpe Ratio Comparison

The current PBTP Sharpe Ratio is 2.25, which is comparable to the EVLN Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of PBTP and EVLN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PBTP vs. EVLN - Drawdown Comparison

The maximum PBTP drawdown since its inception was -5.44%, which is greater than EVLN's maximum drawdown of -2.78%. Use the drawdown chart below to compare losses from any high point for PBTP and EVLN.

Drawdown Indicators

	PBTP	EVLN	Difference
Max Drawdown Largest peak-to-trough decline	-5.44%	-2.78%	-2.66%
Max Drawdown (1Y) Largest decline over 1 year	-0.73%	-1.77%	+1.04%
Max Drawdown (3Y) Largest decline over 3 years	-1.03%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-5.44%	—	—
Current Drawdown Current decline from peak	-0.73%	-0.10%	-0.63%
Average Drawdown Average peak-to-trough decline	-0.75%	-0.21%	-0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	0.54%	-0.33%

Volatility

PBTP vs. EVLN - Volatility Comparison

Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) has a higher volatility of 0.63% compared to Eaton Vance Floating-Rate ETF (EVLN) at 0.41%. This indicates that PBTP's price experiences larger fluctuations and is considered to be riskier than EVLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBTP	EVLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	0.41%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	1.17%	1.64%	-0.47%
Volatility (1Y) Calculated over the trailing 1-year period	1.62%	1.88%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.85%	2.41%	+0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.64%	2.41%	+0.23%

PBTP vs. EVLN - Expense Ratio Comparison

PBTP has a 0.07% expense ratio, which is lower than EVLN's 0.60% expense ratio.

Dividends

PBTP vs. EVLN - Dividend Comparison

PBTP's dividend yield for the trailing twelve months is around 5.86%, less than EVLN's 6.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EVLN Eaton Vance Floating-Rate ETF	6.91%	7.28%	6.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF	5.86%	3.82%	2.59%	2.36%	5.33%	3.12%	1.25%	2.12%	2.33%	0.73%

Frequently Asked Questions

Can I hold both PBTP and EVLN in my portfolio?

PBTP and EVLN have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBTP or EVLN?

PBTP has higher volatility (0.63%) compared to EVLN (0.41%). In terms of maximum drawdown, PBTP dropped -5.44% vs EVLN's -2.78%.

Which ETF is better, PBTP or EVLN?

On 1-year performance, EVLN leads with 4.65% vs 3.62% for PBTP. On fees, PBTP is cheaper at 0.07% per year. On volatility, EVLN has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBTP or EVLN?

Over the 1-year period, EVLN has performed better with a 4.65% return vs 3.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBTP or EVLN?

PBTP is cheaper with a 0.07% expense ratio, compared with 0.60% for EVLN.

Which ETF pays a higher dividend yield, PBTP or EVLN?

EVLN has the higher dividend yield at 6.91%, compared with 5.86% for PBTP.

What is the main difference between PBTP and EVLN?

PBTP is categorized as Inflation-Protected Bonds, while EVLN is Bank Loan. They also come from different issuers: Invesco and Eaton Vance. Their fees differ too: 0.07% for PBTP and 0.60% for EVLN.

Which has better risk-adjusted returns?

EVLN currently has the higher Sharpe Ratio (2.50 vs 2.25), 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.