PRT vs. PBT

Last updated Jun 4, 2026

PRT (PermRock Royalty Trust) and PBT (Permian Basin Royalty Trust) are both stocks. Both are in the Energy sector — PRT in Oil & Gas E&P, PBT in Oil & Gas Midstream. Over the past 5 years, PRT returned -12.84%/yr vs 50.39%/yr for PBT. At a 0.25 correlation, their price movements are largely independent.

Performance

PRT vs. PBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PermRock Royalty Trust (PRT) and Permian Basin Royalty Trust (PBT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRT achieves a -23.88% return, which is significantly lower than PBT's 71.24% return.

PRT

• 1D: -1.41%
• 1M: -25.43%
• YTD: -23.88%
• 6M: -44.67%
• 1Y: -43.10%
• 3Y*: -15.18%
• 5Y*: -12.84%
• 10Y*: —

PBT

• 1D: -0.21%
• 1M: 23.95%
• YTD: 71.24%
• 6M: 60.33%
• 1Y: 165.80%
• 3Y*: 8.68%
• 5Y*: 50.39%
• 10Y*: 21.81%

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

PRT vs. PBT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PRT PermRock Royalty Trust	-23.88%	-12.79%	-11.58%	-37.64%	24.09%	194.55%	-49.26%	-0.27%	-57.76%
PBT Permian Basin Royalty Trust	71.24%	56.75%	-16.91%	-42.84%	166.22%	218.45%	-7.68%	-29.15%	-36.61%

Correlation

The correlation between PRT and PBT is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (All Time) Calculated using the full available price history since May 3, 2018	0.25

The correlation between PRT and PBT shifts across timeframes, from 0.19 (3 years) to 0.29 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS PRT : $0.43 PBT : $0.33
PE Ratio PRT : 4.92 PBT : 86.35
PS Ratio PRT : 4.22 PBT : 77.40
Total Revenue (TTM) PRT : $4.54M PBT : $13.06M
Gross Profit (TTM) PRT : $3.88M PBT : $13.06M
EBITDA (TTM) PRT : $3.25M PBT : $11.70M

Return for Risk

PRT vs. PBT — Risk / Return Rank

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

PRT

PRT Risk / Return Rank: 4
PRT Sharpe Ratio Rank: 2
PRT Sortino Ratio Rank: 4
PRT Omega Ratio Rank: 4
PRT Calmar Ratio Rank: 10
PRT Martin Ratio Rank: 0

PBT

PBT Risk / Return Rank: 96
PBT Sharpe Ratio Rank: 97
PBT Sortino Ratio Rank: 96
PBT Omega Ratio Rank: 94
PBT Calmar Ratio Rank: 96
PBT Martin Ratio Rank: 97

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.

PRT vs. PBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PermRock Royalty Trust (PRT) and Permian Basin Royalty Trust (PBT). 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.

	PRT	PBT	Difference
Sharpe ratio Return per unit of total volatility	-1.20	3.97	-5.17
Sortino ratio Return per unit of downside risk	-1.75	4.48	-6.23
Omega ratio Gain probability vs. loss probability	0.77	1.55	-0.77
Calmar ratio Return relative to maximum drawdown	-0.81	8.76	-9.57
Martin ratio Return relative to average drawdown	-2.43	24.75	-27.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRT vs. PBT - Sharpe Ratio Comparison

The current PRT Sharpe Ratio is -1.20, which is lower than the PBT Sharpe Ratio of 3.97. The chart below compares the historical Sharpe Ratios of PRT and PBT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PRT	PBT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.20	3.97	-5.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.31	1.06	-1.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.24	0.34	-0.58

Drawdowns

PRT vs. PBT - Drawdown Comparison

The maximum PRT drawdown since its inception was -91.42%, which is greater than PBT's maximum drawdown of -83.17%. Use the drawdown chart below to compare losses from any high point for PRT and PBT.

Drawdown Indicators

	PRT	PBT	Difference
Max Drawdown Largest peak-to-trough decline	-91.42%	-83.17%	-8.25%
Max Drawdown (1Y) Largest decline over 1 year	-53.54%	-19.04%	-34.50%
Max Drawdown (3Y) Largest decline over 3 years	-66.13%	-62.52%	-3.61%
Max Drawdown (5Y) Largest decline over 5 years	-74.28%	-65.05%	-9.23%
Max Drawdown (10Y) Largest decline over 10 years	—	-73.87%	—
Current Drawdown Current decline from peak	-73.87%	-6.71%	-67.16%
Average Drawdown Average peak-to-trough decline	-48.92%	-25.68%	-23.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.72%	6.73%	+10.99%

Volatility

PRT vs. PBT - Volatility Comparison

The current volatility for PermRock Royalty Trust (PRT) is 16.81%, while Permian Basin Royalty Trust (PBT) has a volatility of 21.71%. This indicates that PRT experiences smaller price fluctuations and is considered to be less risky than PBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRT	PBT	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.81%	21.71%	-4.90%
Volatility (6M) Calculated over the trailing 6-month period	34.14%	31.21%	+2.93%
Volatility (1Y) Calculated over the trailing 1-year period	35.92%	42.08%	-6.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.16%	47.80%	-6.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.36%	42.78%	+17.58%

Dividends

PRT vs. PBT - Dividend Comparison

PRT's dividend yield for the trailing twelve months is around 11.85%, more than PBT's 1.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBT Permian Basin Royalty Trust	1.23%	1.92%	4.92%	4.30%	4.56%	2.28%	7.10%	10.80%	11.20%	7.09%	5.38%	6.81%
PRT PermRock Royalty Trust	11.85%	13.88%	12.05%	11.65%	13.12%	8.66%	6.01%	13.50%	21.65%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both PRT and PBT in my portfolio?

PRT and PBT have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRT or PBT?

PBT has higher volatility (21.71%) compared to PRT (16.81%). In terms of maximum drawdown, PRT dropped -91.42% vs PBT's -83.17%.

Which has better risk-adjusted returns?

PBT currently has the higher Sharpe Ratio (3.97 vs -1.20), 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.