PTRB vs. PJIO

Last updated Jun 4, 2026

PTRB (PGIM Total Return Bond ETF) and PJIO (PGIM Jennison International Opportunities ETF) are both exchange-traded funds - PTRB is a Intermediate Core-Plus Bond fund actively managed by PGIM, while PJIO is a Foreign Large Cap Equities fund actively managed by PGIM. Both are actively managed. Over the past year, PTRB returned 5.81% vs 10.77% for PJIO. At a 0.21 correlation, their price movements are largely independent. PTRB charges 0.49%/yr vs 0.90%/yr for PJIO.

Performance

PTRB vs. PJIO - Performance Comparison

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

Returns By Period

In the year-to-date period, PTRB achieves a 0.34% return, which is significantly lower than PJIO's 9.45% return.

PTRB

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

PJIO

• 1D: -1.00%
• 1M: 9.29%
• YTD: 9.45%
• 6M: 7.89%
• 1Y: 10.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PTRB vs. PJIO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PTRB PGIM Total Return Bond ETF	0.34%	7.63%	2.67%	0.65%
PJIO PGIM Jennison International Opportunities ETF	9.45%	17.75%	4.59%	-0.44%

Correlation

The correlation between PTRB and PJIO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Dec 20, 2023	0.21

The correlation between PTRB and PJIO shifts across timeframes, from 0.21 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.

PTRB vs. PJIO - Sectors Allocation Comparison

Sectors	PTRB	PJIO
Financial Services	4.2%	4.0%
Basic Materials	-	-
Communication Services	-	8.1%
Consumer Cyclical	-	19.1%
Consumer Defensive	-	5.9%
Energy	-	-
Healthcare	-	9.8%
Industrials	-	20.2%
Real Estate	-	-
Technology	-	32.4%
Utilities	-	-

Return for Risk

PTRB vs. PJIO — Risk / Return Rank

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

PTRB

PTRB Risk / Return Rank: 40
PTRB Sharpe Ratio Rank: 41
PTRB Sortino Ratio Rank: 42
PTRB Omega Ratio Rank: 39
PTRB Calmar Ratio Rank: 41
PTRB Martin Ratio Rank: 38

PJIO

PJIO Risk / Return Rank: 17
PJIO Sharpe Ratio Rank: 17
PJIO Sortino Ratio Rank: 18
PJIO Omega Ratio Rank: 18
PJIO Calmar Ratio Rank: 16
PJIO Martin Ratio Rank: 18

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. PJIO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Total Return Bond ETF (PTRB) and PGIM Jennison International Opportunities ETF (PJIO). 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	PJIO	Difference
Sharpe ratio: Return per unit of total volatility	1.46	0.50	+0.95
Sortino ratio: Return per unit of downside risk	2.13	0.88	+1.25
Omega ratio: Gain probability vs. loss probability	1.26	1.11	+0.15
Calmar ratio: Return relative to maximum drawdown	2.01	0.56	+1.45
Martin ratio: Return relative to average drawdown	6.00	1.81	+4.19
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. PJIO - Sharpe Ratio Comparison

The current PTRB Sharpe Ratio is 1.46, which is higher than the PJIO Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of PTRB and PJIO, 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	PJIO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	0.50	+0.95
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.62	-0.56

Drawdowns

PTRB vs. PJIO - Drawdown Comparison

The maximum PTRB drawdown since its inception was -19.17%, roughly equal to the maximum PJIO drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for PTRB and PJIO.

Drawdown Indicators

	PTRB	PJIO	Difference
Max Drawdown Largest peak-to-trough decline	-19.17%	-19.26%	+0.09%
Max Drawdown (1Y) Largest decline over 1 year	-2.90%	-19.26%	+16.36%
Max Drawdown (3Y) Largest decline over 3 years	-5.52%	—	—
Current Drawdown Current decline from peak	-1.61%	-1.00%	-0.61%
Average Drawdown Average peak-to-trough decline	-7.64%	-4.27%	-3.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	5.95%	-4.98%

Volatility

PTRB vs. PJIO - Volatility Comparison

The current volatility for PGIM Total Return Bond ETF (PTRB) is 1.37%, while PGIM Jennison International Opportunities ETF (PJIO) has a volatility of 9.10%. This indicates that PTRB experiences smaller price fluctuations and is considered to be less risky than PJIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTRB	PJIO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	9.10%	-7.73%
Volatility (6M) Calculated over the trailing 6-month period	2.83%	18.76%	-15.93%
Volatility (1Y) Calculated over the trailing 1-year period	4.01%	21.52%	-17.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.25%	20.71%	-14.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.25%	20.71%	-14.46%

PTRB vs. PJIO - Expense Ratio Comparison

PTRB has a 0.49% expense ratio, which is lower than PJIO's 0.90% expense ratio.

Dividends

PTRB vs. PJIO - Dividend Comparison

PTRB's dividend yield for the trailing twelve months is around 4.74%, more than PJIO's 0.17% yield.

Position	TTM	2025	2024	2023	2022	2021
PJIO PGIM Jennison International Opportunities ETF	0.17%	0.19%	0.22%	0.00%	0.00%	0.00%
PTRB PGIM Total Return Bond ETF	4.74%	4.73%	5.10%	4.62%	4.07%	0.12%

Frequently Asked Questions

Can I hold both PTRB and PJIO in my portfolio?

PTRB and PJIO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTRB or PJIO?

PJIO has higher volatility (9.10%) compared to PTRB (1.37%). In terms of maximum drawdown, PTRB dropped -19.17% vs PJIO's -19.26%.

Which ETF is better, PTRB or PJIO?

On 1-year performance, PJIO leads with 10.77% vs 5.81% for PTRB. On fees, PTRB is cheaper at 0.49% per year. On volatility, PTRB has been the lower-risk option at 1.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTRB or PJIO?

Over the 1-year period, PJIO has performed better with a 10.77% return vs 5.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTRB or PJIO?

PTRB is cheaper with a 0.49% expense ratio, compared with 0.90% for PJIO.

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

PTRB has the higher dividend yield at 4.74%, compared with 0.17% for PJIO.

What is the main difference between PTRB and PJIO?

PTRB is categorized as Intermediate Core-Plus Bond, while PJIO is Foreign Large Cap Equities. Their fees differ too: 0.49% for PTRB and 0.90% for PJIO.

Which has better risk-adjusted returns?

PTRB currently has the higher Sharpe Ratio (1.46 vs 0.50), 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.