PCMM vs. XTRE

Last updated Apr 1, 2026

Compare and contrast key facts about BondBloxx Private Credit CLO ETF (PCMM) and Bondbloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE).

PCMM and XTRE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PCMM is an actively managed fund by BondBloxx. It was launched on Dec 2, 2024. XTRE is a passively managed fund by BondBloxx that tracks the performance of the Bloomberg US Treasury 3 Year Target Duration Index. It was launched on Sep 13, 2022.

Performance

PCMM vs. XTRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx Private Credit CLO ETF (PCMM) and Bondbloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE). The values are adjusted to include any dividend payments, if applicable.

PCMM vs. XTRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PCMM BondBloxx Private Credit CLO ETF	-0.92%	6.30%	0.50%
XTRE Bondbloxx Bloomberg Three Year Target Duration US Treasury ETF	0.11%	6.05%	-0.08%

Returns By Period

In the year-to-date period, PCMM achieves a -0.92% return, which is significantly lower than XTRE's 0.11% return.

PCMM

• 1D: -0.63%
• 1M: -1.81%
• YTD: -0.92%
• 6M: 0.37%
• 1Y: 3.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XTRE

• 1D: 0.10%
• 1M: -0.97%
• YTD: 0.11%
• 6M: 1.24%
• 1Y: 3.90%
• 3Y*: 3.83%
• 5Y*: —
• 10Y*: —

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

PCMM vs. XTRE - Expense Ratio Comparison

PCMM has a 0.68% expense ratio, which is higher than XTRE's 0.05% expense ratio.

PCMM

BondBloxx Private Credit CLO ETF

XTRE

Bondbloxx Bloomberg Three Year Target Duration US Treasury ETF

Return for Risk

PCMM vs. XTRE — Risk / Return Rank

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

PCMM

PCMM Risk / Return Rank: 34
PCMM Sharpe Ratio Rank: 32
PCMM Sortino Ratio Rank: 31
PCMM Omega Ratio Rank: 31
PCMM Calmar Ratio Rank: 31
PCMM Martin Ratio Rank: 45

XTRE

XTRE Risk / Return Rank: 83
XTRE Sharpe Ratio Rank: 83
XTRE Sortino Ratio Rank: 89
XTRE Omega Ratio Rank: 79
XTRE Calmar Ratio Rank: 85
XTRE Martin Ratio Rank: 80

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.

PCMM vs. XTRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx Private Credit CLO ETF (PCMM) and Bondbloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE). 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.

	PCMM	XTRE	Difference
Sharpe ratio Return per unit of total volatility	0.60	1.63	-1.02
Sortino ratio Return per unit of downside risk	0.90	2.50	-1.60
Omega ratio Gain probability vs. loss probability	1.12	1.31	-0.18
Calmar ratio Return relative to maximum drawdown	0.77	2.61	-1.84
Martin ratio Return relative to average drawdown	4.26	8.99	-4.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PCMM vs. XTRE - Sharpe Ratio Comparison

The current PCMM Sharpe Ratio is 0.60, which is lower than the XTRE Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of PCMM and XTRE, 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

	PCMM	XTRE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.60	1.63	-1.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	1.15	-0.28

Correlation

The correlation between PCMM and XTRE is 0.00, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PCMM vs. XTRE - Dividend Comparison

PCMM's dividend yield for the trailing twelve months is around 6.83%, more than XTRE's 3.89% yield.

	TTM	2025	2024	2023	2022
PCMM BondBloxx Private Credit CLO ETF	6.83%	7.02%	0.00%	0.00%	0.00%
XTRE Bondbloxx Bloomberg Three Year Target Duration US Treasury ETF	3.89%	3.85%	4.19%	3.97%	1.16%

Drawdowns

PCMM vs. XTRE - Drawdown Comparison

The maximum PCMM drawdown since its inception was -4.32%, which is greater than XTRE's maximum drawdown of -2.89%. Use the drawdown chart below to compare losses from any high point for PCMM and XTRE.

Drawdown Indicators

	PCMM	XTRE	Difference
Max Drawdown Largest peak-to-trough decline	-4.32%	-2.89%	-1.43%
Max Drawdown (1Y) Largest decline over 1 year	-3.99%	-1.53%	-2.46%
Current Drawdown Current decline from peak	-2.16%	-0.97%	-1.19%
Average Drawdown Average peak-to-trough decline	-0.39%	-0.82%	+0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	0.44%	+0.28%

Volatility

PCMM vs. XTRE - Volatility Comparison

BondBloxx Private Credit CLO ETF (PCMM) has a higher volatility of 1.48% compared to Bondbloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) at 0.84%. This indicates that PCMM's price experiences larger fluctuations and is considered to be riskier than XTRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCMM	XTRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.48%	0.84%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	2.34%	1.44%	+0.90%
Volatility (1Y) Calculated over the trailing 1-year period	5.49%	2.41%	+3.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.11%	3.37%	+1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.11%	3.37%	+1.74%