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PTRB vs. BYLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PTRB vs. BYLD

Last updated Jun 4, 2026

PTRB (PGIM Total Return Bond ETF) and BYLD (iShares Yield Optimized Bond ETF) are both Intermediate Core-Plus Bond funds. PTRB is actively managed, while BYLD is passively managed. Over the past 3 years, PTRB returned 5.11%/yr vs 6.49%/yr for BYLD. Their correlation of 0.84 suggests significant overlap in exposure. PTRB charges 0.49%/yr vs 0.17%/yr for BYLD.

Performance

PTRB vs. BYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Total Return Bond ETF (PTRB) and iShares Yield Optimized Bond ETF (BYLD). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, PTRB achieves a 0.34% return, which is significantly lower than BYLD's 1.23% return.

PTRB

1D
-0.19%
1M
0.28%
YTD
0.34%
6M
0.41%
1Y
5.81%
3Y*
5.11%
5Y*
—
10Y*
—

BYLD

1D
-0.18%
1M
0.61%
YTD
1.23%
6M
1.35%
1Y
7.01%
3Y*
6.49%
5Y*
2.21%
10Y*
3.01%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PTRB vs. BYLD - Yearly Performance Comparison

2026 (YTD)20252024202320222021
PTRB
PGIM Total Return Bond ETF		0.34%7.63%2.67%7.71%-14.82%-0.15%
BYLD
iShares Yield Optimized Bond ETF		1.23%8.41%4.17%8.30%-10.33%0.10%

Correlation

The correlation between PTRB and BYLD is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.77

Correlation (3Y)
Calculated over the trailing 3-year period

0.83

Correlation (All Time)
Calculated using the full available price history since Dec 9, 2021

0.84

The correlation between PTRB and BYLD has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.

PTRB vs. BYLD - Sectors Allocation Comparison

Sectors
PTRB
BYLD

Financial Services

4.2%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

99.2%

Healthcare

-

-

Industrials

-

-

Real Estate

-

0.8%

Technology

-

-

Utilities

-

-

Financial Services

PTRB
4.2%
BYLD

-

Basic Materials

PTRB

-

BYLD

-

Communication Services

PTRB

-

BYLD

-

Consumer Cyclical

PTRB

-

BYLD

-

Consumer Defensive

PTRB

-

BYLD

-

Energy

PTRB

-

BYLD
99.2%

Healthcare

PTRB

-

BYLD

-

Industrials

PTRB

-

BYLD

-

Real Estate

PTRB

-

BYLD
0.8%

Technology

PTRB

-

BYLD

-

Utilities

PTRB

-

BYLD

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

PGIM Total Return Bond ETF

iShares Yield Optimized Bond ETF

Often compared with PTRB:
PTRB vs. EVTRPTRB vs. HWHIXPTRB vs. BNDPTRB vs. HCRBPTRB vs. PDBAXPTRB vs. PHYLPTRB vs. FBND
Often compared with BYLD:
BYLD vs. IGEBBYLD vs. FBNDBYLD vs. BONDBYLD vs. TOTLBYLD vs. BNDBYLD vs. USHYBYLD vs. AGG

Return for Risk

PTRB vs. BYLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PTRB
PTRB Risk / Return Rank: 4040
Overall Rank
PTRB Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
PTRB Sortino Ratio Rank: 4242
Sortino Ratio Rank
PTRB Omega Ratio Rank: 3939
Omega Ratio Rank
PTRB Calmar Ratio Rank: 4141
Calmar Ratio Rank
PTRB Martin Ratio Rank: 3838
Martin Ratio Rank
BYLD
BYLD Risk / Return Rank: 5555
Overall Rank
BYLD Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
BYLD Sortino Ratio Rank: 5757
Sortino Ratio Rank
BYLD Omega Ratio Rank: 5656
Omega Ratio Rank
BYLD Calmar Ratio Rank: 5252
Calmar Ratio Rank
BYLD Martin Ratio Rank: 5959
Martin Ratio Rank
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.

PTRB vs. BYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Total Return Bond ETF (PTRB) and iShares Yield Optimized Bond ETF (BYLD). 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.

PTRBBYLDDifference
Sharpe ratioReturn per unit of total volatility
1.46
1.85

-0.39

Sortino ratioReturn per unit of downside risk
2.13
2.76

-0.63

Omega ratioGain probability vs. loss probability

1.26

1.35

-0.09

Calmar ratioReturn relative to maximum drawdown

2.01

2.60

-0.58

Martin ratioReturn relative to average drawdown

6.00

10.54

-4.53

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PTRB vs. BYLD - Sharpe Ratio Comparison

The current PTRB Sharpe Ratio is 1.46, which is comparable to the BYLD Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of PTRB and BYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

PTRBBYLDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.46

1.85

-0.39

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.43

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.56

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.06

0.57

-0.51

Drawdowns

PTRB vs. BYLD - Drawdown Comparison

The maximum PTRB drawdown since its inception was -19.17%, which is greater than BYLD's maximum drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for PTRB and BYLD.

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Drawdown Indicators

PTRBBYLDDifference

Max Drawdown

Largest peak-to-trough decline

-19.17%

-14.75%

-4.42%

Max Drawdown (1Y)

Largest decline over 1 year

-2.90%

-2.71%

-0.19%

Max Drawdown (3Y)

Largest decline over 3 years

-5.52%

-3.94%

-1.58%

Max Drawdown (5Y)

Largest decline over 5 years

—

-14.65%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-14.75%

—

Current Drawdown

Current decline from peak

-1.61%

-0.34%

-1.27%

Average Drawdown

Average peak-to-trough decline

-7.64%

-2.51%

-5.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.97%

0.67%

+0.30%

Volatility

PTRB vs. BYLD - Volatility Comparison

PGIM Total Return Bond ETF (PTRB) and iShares Yield Optimized Bond ETF (BYLD) have volatilities of 1.37% and 1.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PTRBBYLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.37%

1.42%

-0.05%

Volatility (6M)

Calculated over the trailing 6-month period

2.83%

2.94%

-0.11%

Volatility (1Y)

Calculated over the trailing 1-year period

4.01%

3.82%

+0.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.25%

5.20%

+1.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.25%

5.43%

+0.82%

PTRB vs. BYLD - Expense Ratio Comparison

PTRB has a 0.49% expense ratio, which is higher than BYLD's 0.17% expense ratio.

Dividends

PTRB vs. BYLD - Dividend Comparison

PTRB's dividend yield for the trailing twelve months is around 4.74%, less than BYLD's 5.36% yield.

PositionTTM20252024202320222021202020192018201720162015
BYLD
iShares Yield Optimized Bond ETF		5.36%5.32%5.31%4.45%3.39%2.18%3.41%3.67%4.22%3.22%3.14%3.37%
PTRB
PGIM Total Return Bond ETF		4.74%4.73%5.10%4.62%4.07%0.12%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

PTRB and BYLD have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BYLD has higher volatility (1.42%) compared to PTRB (1.37%). In terms of maximum drawdown, PTRB dropped -19.17% vs BYLD's -14.75%.

On 3-year performance, BYLD leads with 6.49% vs 5.11% for PTRB. On fees, BYLD is cheaper at 0.17% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, BYLD has performed better with a 6.49% return vs 5.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BYLD is cheaper with a 0.17% expense ratio, compared with 0.49% for PTRB.

BYLD has the higher dividend yield at 5.36%, compared with 4.74% for PTRB.

They also come from different issuers: PGIM and iShares. Their fees differ too: 0.49% for PTRB and 0.17% for BYLD.

BYLD currently has the higher Sharpe Ratio (1.85 vs 1.46), 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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