PCRB vs. PIFI

Last updated Jul 15, 2026

PCRB (Putnam ESG Core Bond ETF -) and PIFI (ClearShares Piton Intermediate Fixed Income ETF) are both Intermediate Core Bond funds. Both are actively managed. Their correlation of 0.92 suggests significant overlap in exposure. PCRB charges 0.35%/yr vs 0.45%/yr for PIFI.

Performance

PCRB vs. PIFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam ESG Core Bond ETF - (PCRB) and ClearShares Piton Intermediate Fixed Income ETF (PIFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PCRB

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PIFI

• 1D: 0.20%
• 1M: -0.09%
• 6M: -0.17%
• YTD: -0.12%
• 1Y: 2.84%
• 3Y*: 3.73%
• 5Y*: 0.97%
• 10Y*: —

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

PCRB vs. PIFI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PCRB Putnam ESG Core Bond ETF -	-0.48%	7.21%	1.91%	2.40%
PIFI ClearShares Piton Intermediate Fixed Income ETF	-0.12%	6.29%	2.52%	2.52%

Correlation

The correlation between PCRB and PIFI is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023	0.92

The correlation between PCRB and PIFI has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

Return for Risk

PCRB vs. PIFI — Risk / Return Rank

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

PCRB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PIFI

PIFI Risk / Return Rank: 35
PIFI Sharpe Ratio Rank: 37
PIFI Sortino Ratio Rank: 38
PIFI Omega Ratio Rank: 34
PIFI Calmar Ratio Rank: 36
PIFI Martin Ratio Rank: 31

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.

PCRB vs. PIFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam ESG Core Bond ETF - (PCRB) and ClearShares Piton Intermediate Fixed Income ETF (PIFI). 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.

	PCRB	PIFI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.09	—
Sortino ratio: Return per unit of downside risk	—	1.63	—
Omega ratio: Gain probability vs. loss probability	—	1.19	—
Calmar ratio: Return relative to maximum drawdown	—	1.48	—
Martin ratio: Return relative to average drawdown	—	3.68	—

Drawdowns

Drawdown Indicators

	PCRB	PIFI	Difference
Max Drawdown Largest peak-to-trough decline	—	-10.59%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-1.93%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-2.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-10.41%	—
Current Drawdown Current decline from peak	—	-1.43%	—
Average Drawdown Average peak-to-trough decline	—	-3.19%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.77%	—

Volatility

Volatility by Period

	PCRB	PIFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.86%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.00%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	2.62%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	3.68%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	3.47%	—

PCRB vs. PIFI - Expense Ratio Comparison

PCRB has a 0.35% expense ratio, which is lower than PIFI's 0.45% expense ratio.

Dividends

PCRB vs. PIFI - Dividend Comparison

PCRB has not paid dividends to shareholders, while PIFI's dividend yield for the trailing twelve months is around 4.48%.

Position	TTM	2025	2024	2023	2022	2021
PCRB Putnam ESG Core Bond ETF -	9.42%	4.30%	4.38%	3.65%	0.00%	0.00%
PIFI ClearShares Piton Intermediate Fixed Income ETF	4.48%	3.16%	2.92%	2.29%	1.22%	0.25%

Frequently Asked Questions

Can I hold both PCRB and PIFI in my portfolio?

PCRB and PIFI have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PCRB or PIFI?

On fees, PCRB is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PCRB or PIFI?

PCRB is cheaper with a 0.35% expense ratio, compared with 0.45% for PIFI.

Which ETF pays a higher dividend yield, PCRB or PIFI?

PCRB has the higher dividend yield at 9.42%, compared with 4.48% for PIFI.

What is the main difference between PCRB and PIFI?

They also come from different issuers: Putnam and ClearShares. Their fees differ too: 0.35% for PCRB and 0.45% for PIFI.