PTRB vs. FBND

Last updated Jun 6, 2026

PTRB (PGIM Total Return Bond ETF) and FBND (Fidelity Total Bond ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past 3 years, PTRB returned 4.94%/yr vs 4.57%/yr for FBND. Their correlation of 0.93 suggests significant overlap in exposure. PTRB charges 0.49%/yr vs 0.36%/yr for FBND.

Performance

PTRB vs. FBND - Performance Comparison

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

Returns By Period

In the year-to-date period, PTRB achieves a -0.08% return, which is significantly lower than FBND's 0.17% return.

PTRB

• 1D: -0.53%
• 1M: -0.71%
• YTD: -0.08%
• 6M: 0.09%
• 1Y: 4.94%
• 3Y*: 4.94%
• 5Y*: —
• 10Y*: —

FBND

• 1D: -0.44%
• 1M: -0.63%
• YTD: 0.17%
• 6M: 0.33%
• 1Y: 4.87%
• 3Y*: 4.57%
• 5Y*: 0.77%
• 10Y*: 2.51%

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

PTRB vs. FBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PTRB PGIM Total Return Bond ETF	-0.08%	7.63%	2.67%	7.71%	-14.82%	-0.15%
FBND Fidelity Total Bond ETF	0.17%	7.57%	2.13%	6.81%	-12.54%	0.24%

Correlation

The correlation between PTRB and FBND is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 9, 2021	0.93

The correlation between PTRB and FBND has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

PTRB vs. FBND - Sectors Allocation Comparison

Sectors	PTRB	FBND
Financial Services	4.2%	0.2%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	1.1%
Healthcare	-	-
Industrials	-	71.4%
Real Estate	-	-
Technology	-	-
Utilities	-	27.5%

Return for Risk

PTRB vs. FBND — Risk / Return Rank

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

PTRB

PTRB Risk / Return Rank: 36
PTRB Sharpe Ratio Rank: 37
PTRB Sortino Ratio Rank: 36
PTRB Omega Ratio Rank: 35
PTRB Calmar Ratio Rank: 37
PTRB Martin Ratio Rank: 35

FBND

FBND Risk / Return Rank: 36
FBND Sharpe Ratio Rank: 36
FBND Sortino Ratio Rank: 37
FBND Omega Ratio Rank: 34
FBND Calmar Ratio Rank: 38
FBND Martin Ratio Rank: 36

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. FBND - Risk-Adjusted Trends Comparison

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

	PTRB	FBND	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.28	-0.03
Sortino ratio: Return per unit of downside risk	1.80	1.88	-0.08
Omega ratio: Gain probability vs. loss probability	1.22	1.22	0.00
Calmar ratio: Return relative to maximum drawdown	1.71	1.83	-0.12
Martin ratio: Return relative to average drawdown	5.05	5.49	-0.45
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. FBND - Sharpe Ratio Comparison

The current PTRB Sharpe Ratio is 1.24, which is comparable to the FBND Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of PTRB and FBND, 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

	PTRB	FBND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	1.28	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.13	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.44	-0.40

Drawdowns

PTRB vs. FBND - Drawdown Comparison

The maximum PTRB drawdown since its inception was -19.17%, which is greater than FBND's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for PTRB and FBND.

Drawdown Indicators

	PTRB	FBND	Difference
Max Drawdown Largest peak-to-trough decline	-19.17%	-17.25%	-1.92%
Max Drawdown (1Y) Largest decline over 1 year	-2.90%	-2.66%	-0.24%
Max Drawdown (3Y) Largest decline over 3 years	-5.52%	-5.94%	+0.42%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.25%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-17.25%	—
Current Drawdown Current decline from peak	-2.01%	-1.75%	-0.26%
Average Drawdown Average peak-to-trough decline	-7.63%	-3.35%	-4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	0.89%	+0.09%

Volatility

PTRB vs. FBND - Volatility Comparison

PGIM Total Return Bond ETF (PTRB) has a higher volatility of 1.40% compared to Fidelity Total Bond ETF (FBND) at 1.25%. This indicates that PTRB's price experiences larger fluctuations and is considered to be riskier than FBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTRB	FBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.40%	1.25%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	2.88%	2.76%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	4.00%	3.84%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.25%	5.92%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.25%	6.10%	+0.15%

PTRB vs. FBND - Expense Ratio Comparison

PTRB has a 0.49% expense ratio, which is higher than FBND's 0.36% expense ratio.

Dividends

PTRB vs. FBND - Dividend Comparison

PTRB's dividend yield for the trailing twelve months is around 4.76%, which matches FBND's 4.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBND Fidelity Total Bond ETF	4.72%	4.70%	4.73%	4.26%	3.07%	1.86%	4.25%	2.90%	2.93%	2.56%	2.84%	3.26%
PTRB PGIM Total Return Bond ETF	4.76%	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

Can I hold both PTRB and FBND in my portfolio?

With a correlation of 0.94, PTRB and FBND 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 FBND?

PTRB has higher volatility (1.40%) compared to FBND (1.25%). In terms of maximum drawdown, PTRB dropped -19.17% vs FBND's -17.25%.

Which ETF is better, PTRB or FBND?

On 3-year performance, PTRB leads with 4.94% vs 4.57% for FBND. On fees, FBND is cheaper at 0.36% per year. On volatility, FBND has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTRB or FBND?

Over the 3-year period, PTRB has performed better with a 4.94% return vs 4.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTRB or FBND?

FBND is cheaper with a 0.36% expense ratio, compared with 0.49% for PTRB.

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

PTRB has the higher dividend yield at 4.76%, compared with 4.72% for FBND.

What is the main difference between PTRB and FBND?

They also come from different issuers: PGIM and Fidelity. Their fees differ too: 0.49% for PTRB and 0.36% for FBND.

Which has better risk-adjusted returns?

FBND currently has the higher Sharpe Ratio (1.28 vs 1.24), 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.