PTBD vs. HYZD
PTBD (Pacer Trendpilot US Bond ETF) and HYZD (WisdomTree Interest Rate Hedged High Yield Bond Fund) are both High Yield Bonds funds - PTBD tracks the Pacer Trendpilot US Bond Index while HYZD tracks the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. Both are passively managed. Over the past 5 years, PTBD returned -1.63%/yr vs 6.09%/yr for HYZD. At a 0.31 correlation, their price movements are largely independent. PTBD charges 0.60%/yr vs 0.43%/yr for HYZD.
Performance
PTBD vs. HYZD - Performance Comparison
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Returns By Period
In the year-to-date period, PTBD achieves a 1.23% return, which is significantly lower than HYZD's 2.72% return.
PTBD
- 1D
- -0.02%
- 1M
- 0.68%
- YTD
- 1.23%
- 6M
- 1.39%
- 1Y
- 3.04%
- 3Y*
- 5.42%
- 5Y*
- -1.63%
- 10Y*
- —
HYZD
- 1D
- -0.22%
- 1M
- 0.18%
- YTD
- 2.72%
- 6M
- 2.83%
- 1Y
- 7.10%
- 3Y*
- 9.37%
- 5Y*
- 6.09%
- 10Y*
- 5.65%
PTBD vs. HYZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PTBD Pacer Trendpilot US Bond ETF | 1.23% | 2.49% | 4.24% | 8.84% | -20.88% | 0.47% | 10.62% | 2.16% |
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 2.72% | 7.67% | 9.39% | 11.17% | -2.35% | 6.27% | -0.63% | 1.16% |
Correlation
The correlation between PTBD and HYZD is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2019 | 0.31 |
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Return for Risk
PTBD vs. HYZD — Risk / Return Rank
PTBD
HYZD
PTBD vs. HYZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacer Trendpilot US Bond ETF (PTBD) and WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD). 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.
| PTBD | HYZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -2.59 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.48 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 0.98 | 3.73 | -2.76 |
| Martin ratioReturn relative to average drawdown | 3.70 | 15.97 | -12.27 |
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Drawdowns
PTBD vs. HYZD - Drawdown Comparison
The maximum PTBD drawdown since its inception was -26.00%, roughly equal to the maximum HYZD drawdown of -25.66%. Use the drawdown chart below to compare losses from any high point for PTBD and HYZD.
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Drawdown Indicators
| PTBD | HYZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.00% | -25.66% | -0.34% |
Max Drawdown (1Y)Largest decline over 1 year | -3.12% | -1.91% | -1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -3.82% | -5.85% | +2.03% |
Max Drawdown (5Y)Largest decline over 5 years | -26.00% | -8.97% | -17.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.66% | — |
Current DrawdownCurrent decline from peak | -8.66% | -0.40% | -8.26% |
Average DrawdownAverage peak-to-trough decline | -10.15% | -2.19% | -7.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.45% | +0.37% |
Volatility
PTBD vs. HYZD - Volatility Comparison
Pacer Trendpilot US Bond ETF (PTBD) has a higher volatility of 1.25% compared to WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) at 1.12%. This indicates that PTBD's price experiences larger fluctuations and is considered to be riskier than HYZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PTBD | HYZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.12% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 2.44% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 3.04% | +0.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.26% | 6.71% | +0.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.78% | 8.54% | -0.76% |
PTBD vs. HYZD - Expense Ratio Comparison
PTBD has a 0.60% expense ratio, which is higher than HYZD's 0.43% expense ratio.
Dividends
PTBD vs. HYZD - Dividend Comparison
PTBD's dividend yield for the trailing twelve months is around 5.86%, which matches HYZD's 5.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 5.88% | 6.05% | 6.08% | 5.94% | 5.14% | 4.02% | 5.13% | 5.50% | 5.58% | 4.94% | 5.07% | 4.38% |
PTBD Pacer Trendpilot US Bond ETF | 5.86% | 5.62% | 6.56% | 6.55% | 6.14% | 2.70% | 2.50% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PTBD and HYZD have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTBD has higher volatility (1.25%) compared to HYZD (1.12%). In terms of maximum drawdown, PTBD dropped -26.00% vs HYZD's -25.66%.
On 5-year performance, HYZD leads with 6.09% vs -1.63% for PTBD. On fees, HYZD is cheaper at 0.43% per year. On volatility, HYZD has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYZD has performed better with a 6.09% return vs -1.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYZD is cheaper with a 0.43% expense ratio, compared with 0.60% for PTBD.
HYZD has the higher dividend yield at 5.88%, compared with 5.86% for PTBD.
PTBD tracks Pacer Trendpilot US Bond Index, while HYZD tracks WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. They also come from different issuers: Pacer and WisdomTree. Their fees differ too: 0.60% for PTBD and 0.43% for HYZD.
HYZD currently has the higher Sharpe Ratio (2.34 vs 0.80), 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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