PTRB vs. DBND

Last updated Aug 4, 2026

PTRB (PGIM Total Return Bond ETF) and DBND (DoubleLine Opportunistic Bond ETF) are both Intermediate Core-Plus Bond funds. PTRB is actively managed, while DBND is passively managed. Over the past 3 years, PTRB returned 4.95%/yr vs 4.60%/yr for DBND. Their correlation of 0.90 means they have usually moved in the same direction. PTRB charges 0.49%/yr vs 0.50%/yr for DBND.

Performance

PTRB vs. DBND - Performance Comparison

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

Returns By Period

In the year-to-date period, PTRB achieves a -0.27% return, which is significantly higher than DBND's -0.64% return.

PTRB

• 1D: 0.25%
• 1M: -1.14%
• 6M: -0.36%
• YTD: -0.27%
• 1Y: 2.49%
• 3Y*: 4.95%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 0.20%

DBND

• 1D: 0.25%
• 1M: -0.77%
• 6M: -0.90%
• YTD: -0.64%
• 1Y: 1.97%
• 3Y*: 4.60%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.23%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DBND DoubleLine Opportunistic Bond ETF	$3.45M	$3.07M	$3.38M
PTRB PGIM Total Return Bond ETF	$6.78M	$6.75M	$6.69M

PTRB vs. DBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PTRB PGIM Total Return Bond ETF	-0.27%	7.63%	2.67%	7.71%	-9.09%
DBND DoubleLine Opportunistic Bond ETF	-0.64%	7.41%	3.06%	6.33%	-5.93%

Correlation

The correlation between PTRB and DBND is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022	0.90

The correlation between PTRB and DBND has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

PTRB vs. DBND — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PTRB

PTRB Risk / Return Rank: 26
PTRB Sharpe Ratio Rank: 27
PTRB Sortino Ratio Rank: 25
PTRB Omega Ratio Rank: 23
PTRB Calmar Ratio Rank: 27
PTRB Martin Ratio Rank: 26

DBND

DBND Risk / Return Rank: 24
DBND Sharpe Ratio Rank: 27
DBND Sortino Ratio Rank: 24
DBND Omega Ratio Rank: 23
DBND Calmar Ratio Rank: 23
DBND Martin Ratio Rank: 23

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PTRB vs. DBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Total Return Bond ETF (PTRB) and DoubleLine Opportunistic Bond ETF (DBND). 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.

	PTRB	DBND	Difference
Sharpe ratio: Return per unit of total volatility	0.65	0.63	+0.02
Sortino ratio: Return per unit of downside risk	0.92	0.90	+0.03
Omega ratio: Gain probability vs. loss probability	1.11	1.11	0.00
Calmar ratio: Return relative to maximum drawdown	0.86	0.70	+0.16
Martin ratio: Return relative to average drawdown	2.14	1.64	+0.50

PTRB vs. DBND - Sharpe Ratio Comparison

The current PTRB Sharpe Ratio is 0.65, which is comparable to the DBND Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of PTRB and DBND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PTRB vs. DBND - Drawdown Comparison

The maximum PTRB drawdown since its inception was -19.17%, which is greater than DBND's maximum drawdown of -9.39%. Use the drawdown chart below to compare losses from any high point for PTRB and DBND.

Drawdown Indicators

	PTRB	DBND	Difference
Max Drawdown Largest peak-to-trough decline	-19.17%	-9.39%	-9.78%
Max Drawdown (1Y) Largest decline over 1 year	-2.90%	-2.83%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-4.91%	-5.03%	+0.12%
Current Drawdown Current decline from peak	-2.20%	-2.22%	+0.02%
Average Drawdown Average peak-to-trough decline	-7.42%	-2.25%	-5.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.16%	1.20%	-0.04%

Volatility

PTRB vs. DBND - Volatility Comparison

PGIM Total Return Bond ETF (PTRB) has a higher volatility of 1.06% compared to DoubleLine Opportunistic Bond ETF (DBND) at 0.94%. This indicates that PTRB's price experiences larger fluctuations and is considered to be riskier than DBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTRB	DBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	0.94%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	3.19%	2.60%	+0.59%
Volatility (1Y) Calculated over the trailing 1-year period	3.87%	3.15%	+0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.19%	5.04%	+1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.19%	5.04%	+1.15%

PTRB vs. DBND - Expense Ratio Comparison

PTRB has a 0.49% expense ratio, which is lower than DBND's 0.50% expense ratio.

Dividends

PTRB vs. DBND - Dividend Comparison

PTRB's dividend yield for the trailing twelve months is around 4.76%, less than DBND's 4.87% yield.

Position	TTM	2025	2024	2023	2022	2021
DBND DoubleLine Opportunistic Bond ETF	4.87%	4.78%	5.19%	4.39%	2.74%	0.00%
PTRB PGIM Total Return Bond ETF	4.76%	4.73%	5.10%	4.62%	4.07%	0.12%

Frequently Asked Questions

Can I hold both PTRB and DBND in my portfolio?

With a correlation of 0.92, PTRB and DBND move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PTRB or DBND?

PTRB has higher volatility (1.06%) compared to DBND (0.94%). In terms of maximum drawdown, PTRB dropped -19.17% vs DBND's -9.39%.

Which ETF is better, PTRB or DBND?

On 3-year performance, PTRB leads with 4.95% vs 4.60% for DBND. On fees, PTRB is cheaper at 0.49% per year. On volatility, DBND has been the lower-risk option at 0.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTRB or DBND?

Over the 3-year period, PTRB has performed better with a 4.95% return vs 4.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTRB or DBND?

PTRB is cheaper with a 0.49% expense ratio, compared with 0.50% for DBND.

Which ETF pays a higher dividend yield, PTRB or DBND?

DBND has the higher dividend yield at 4.87%, compared with 4.76% for PTRB.

What is the main difference between PTRB and DBND?

They also come from different issuers: PGIM and DoubleLine. Their fees differ too: 0.49% for PTRB and 0.50% for DBND.

Which has better risk-adjusted returns?

PTRB currently has the higher Sharpe Ratio (0.65 vs 0.63), 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.