PHYD vs. PCRB
PHYD (Putnam ESG High Yield ETF -) and PCRB (Putnam ESG Core Bond ETF -) are both exchange-traded funds - PHYD is a High Yield Bonds fund actively managed by Putnam, while PCRB is a Intermediate Core Bond fund actively managed by Putnam. Both are actively managed. At a 0.50 correlation, their price movements are largely independent. PHYD charges 0.55%/yr vs 0.35%/yr for PCRB.
Performance
PHYD vs. PCRB - Performance Comparison
Loading charts...
Returns By Period
PHYD
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PCRB
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PHYD vs. PCRB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PHYD Putnam ESG High Yield ETF - | 2.32% | 8.84% | 7.35% | 8.30% |
PCRB Putnam ESG Core Bond ETF - | -0.48% | 7.21% | 1.91% | 2.40% |
Correlation
The correlation between PHYD and PCRB is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023 | 0.50 |
The correlation between PHYD and PCRB has been stable across timeframes, ranging from 0.49 to 0.53 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PHYD vs. PCRB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam ESG High Yield ETF - (PHYD) and Putnam ESG Core Bond ETF - (PCRB). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Loading charts...
Drawdowns
PHYD vs. PCRB - Drawdown Comparison
Loading charts...
Volatility
PHYD vs. PCRB - Volatility Comparison
Loading charts...
PHYD vs. PCRB - Expense Ratio Comparison
PHYD has a 0.55% expense ratio, which is higher than PCRB's 0.35% expense ratio.
Dividends
PHYD vs. PCRB - Dividend Comparison
Neither PHYD nor PCRB has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
PCRB Putnam ESG Core Bond ETF - | 9.42% | 4.30% | 4.38% | 3.65% |
PHYD Putnam ESG High Yield ETF - | 8.52% | 6.63% | 6.80% | 6.15% |
Frequently Asked Questions
PHYD and PCRB have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
PCRB is cheaper with a 0.35% expense ratio, compared with 0.55% for PHYD.
PCRB has the higher dividend yield at 9.42%, compared with 8.52% for PHYD.
PHYD is categorized as High Yield Bonds, while PCRB is Intermediate Core Bond. Their fees differ too: 0.55% for PHYD and 0.35% for PCRB.
Find the right allocation for PHYD and PCRB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer