PMMF vs. BRTR
PMMF (iShares Prime Money Market ETF) and BRTR (iShares Total Return Active ETF) are both exchange-traded funds - PMMF is a Money Market fund actively managed by BlackRock, while BRTR is a Intermediate Core-Plus Bond fund actively managed by iShares. Both are actively managed. Over the past year, PMMF returned 3.89% vs 2.94% for BRTR. Their -0.00 correlation means they have often moved in opposite directions in the past. PMMF charges 0.20%/yr vs 0.38%/yr for BRTR.
Performance
PMMF vs. BRTR - Performance Comparison
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Returns By Period
In the year-to-date period, PMMF achieves a 2.14% return, which is significantly higher than BRTR's -0.22% return.
PMMF
- 1D
- 0.02%
- 1M
- 0.31%
- 6M
- 1.81%
- YTD
- 2.14%
- 1Y
- 3.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.98%
BRTR
- 1D
- 0.23%
- 1M
- -1.03%
- 6M
- -0.63%
- YTD
- -0.22%
- 1Y
- 2.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.38M | $3.70M | $5.26M | |
| $11.61M | $12.34M | $15.91M |
PMMF vs. BRTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PMMF iShares Prime Money Market ETF | 2.14% | 3.75% |
BRTR iShares Total Return Active ETF | -0.22% | 6.45% |
Correlation
The correlation between PMMF and BRTR is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025 | -0.00 |
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Return for Risk
PMMF vs. BRTR — Risk / Return Rank
PMMF
BRTR
PMMF vs. BRTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Prime Money Market ETF (PMMF) and iShares Total Return Active ETF (BRTR). 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.
| PMMF | BRTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +20.21 | ||
| Sortino ratioReturn per unit of downside risk | +106.53 | ||
| Omega ratioGain probability vs. loss probability | 50.57 | 1.14 | +49.43 |
| Calmar ratioReturn relative to maximum drawdown | 156.87 | 0.91 | +155.96 |
| Martin ratioReturn relative to average drawdown | 1,677.66 | 2.31 | +1,675.36 |
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Drawdowns
PMMF vs. BRTR - Drawdown Comparison
The maximum PMMF drawdown since its inception was -0.13%, smaller than the maximum BRTR drawdown of -5.07%. Use the drawdown chart below to compare losses from any high point for PMMF and BRTR.
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Drawdown Indicators
| PMMF | BRTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.13% | -5.07% | +4.94% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -3.26% | +3.24% |
Current DrawdownCurrent decline from peak | 0.00% | -2.29% | +2.29% |
Average DrawdownAverage peak-to-trough decline | 0.00% | -1.37% | +1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 1.28% | -1.28% |
Volatility
PMMF vs. BRTR - Volatility Comparison
The current volatility for iShares Prime Money Market ETF (PMMF) is 0.05%, while iShares Total Return Active ETF (BRTR) has a volatility of 1.01%. This indicates that PMMF experiences smaller price fluctuations and is considered to be less risky than BRTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMMF | BRTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 1.01% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 0.13% | 2.97% | -2.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.19% | 3.67% | -3.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.34% | 4.63% | -4.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.34% | 4.63% | -4.29% |
PMMF vs. BRTR - Expense Ratio Comparison
PMMF has a 0.20% expense ratio, which is lower than BRTR's 0.38% expense ratio.
Dividends
PMMF vs. BRTR - Dividend Comparison
PMMF's dividend yield for the trailing twelve months is around 3.69%, less than BRTR's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BRTR iShares Total Return Active ETF | 4.74% | 4.86% | 5.58% | 0.22% |
PMMF iShares Prime Money Market ETF | 3.69% | 3.59% | 0.00% | 0.00% |
Frequently Asked Questions
PMMF and BRTR have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRTR has higher volatility (1.01%) compared to PMMF (0.05%). In terms of maximum drawdown, PMMF dropped -0.13% vs BRTR's -5.07%.
On 1-year performance, PMMF leads with 3.89% vs 2.94% for BRTR. On fees, PMMF is cheaper at 0.20% per year. On volatility, PMMF has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PMMF has performed better with a 3.89% return vs 2.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PMMF is cheaper with a 0.20% expense ratio, compared with 0.38% for BRTR.
BRTR has the higher dividend yield at 4.74%, compared with 3.69% for PMMF.
PMMF is categorized as Money Market, while BRTR is Intermediate Core-Plus Bond. They also come from different issuers: BlackRock and iShares. Their fees differ too: 0.20% for PMMF and 0.38% for BRTR.
PMMF currently has the higher Sharpe Ratio (21.01 vs 0.81), 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.
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