XTEN vs. PCMM

Last updated Apr 1, 2026

Compare and contrast key facts about Bondbloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) and BondBloxx Private Credit CLO ETF (PCMM).

XTEN and PCMM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XTEN is a passively managed fund by BondBloxx that tracks the performance of the Bloomberg US Treasury 10 Year Target Duration Index. It was launched on Sep 13, 2022. PCMM is an actively managed fund by BondBloxx. It was launched on Dec 2, 2024.

Performance

XTEN vs. PCMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bondbloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) and BondBloxx Private Credit CLO ETF (PCMM). The values are adjusted to include any dividend payments, if applicable.

XTEN vs. PCMM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XTEN Bondbloxx Bloomberg Ten Year Target Duration US Treasury ETF	-0.11%	7.37%	-3.09%
PCMM BondBloxx Private Credit CLO ETF	-0.92%	6.30%	0.50%

Returns By Period

In the year-to-date period, XTEN achieves a -0.11% return, which is significantly higher than PCMM's -0.92% return.

XTEN

• 1D: 0.17%
• 1M: -3.09%
• YTD: -0.11%
• 6M: 0.41%
• 1Y: 2.68%
• 3Y*: 1.32%
• 5Y*: —
• 10Y*: —

PCMM

• 1D: -0.63%
• 1M: -1.81%
• YTD: -0.92%
• 6M: 0.37%
• 1Y: 3.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XTEN vs. PCMM - Expense Ratio Comparison

XTEN has a 0.08% expense ratio, which is lower than PCMM's 0.68% expense ratio.

PCMM

BondBloxx Private Credit CLO ETF

XTEN

Bondbloxx Bloomberg Ten Year Target Duration US Treasury ETF

Return for Risk

XTEN vs. PCMM — Risk / Return Rank

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

XTEN

XTEN Risk / Return Rank: 22
XTEN Sharpe Ratio Rank: 23
XTEN Sortino Ratio Rank: 21
XTEN Omega Ratio Rank: 19
XTEN Calmar Ratio Rank: 26
XTEN Martin Ratio Rank: 22

PCMM

PCMM Risk / Return Rank: 34
PCMM Sharpe Ratio Rank: 32
PCMM Sortino Ratio Rank: 31
PCMM Omega Ratio Rank: 31
PCMM Calmar Ratio Rank: 31
PCMM Martin Ratio Rank: 45

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.

XTEN vs. PCMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bondbloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) and BondBloxx Private Credit CLO ETF (PCMM). 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.

	XTEN	PCMM	Difference
Sharpe ratio Return per unit of total volatility	0.38	0.60	-0.23
Sortino ratio Return per unit of downside risk	0.57	0.90	-0.33
Omega ratio Gain probability vs. loss probability	1.07	1.12	-0.06
Calmar ratio Return relative to maximum drawdown	0.60	0.77	-0.17
Martin ratio Return relative to average drawdown	1.45	4.26	-2.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XTEN vs. PCMM - Sharpe Ratio Comparison

The current XTEN Sharpe Ratio is 0.38, which is lower than the PCMM Sharpe Ratio of 0.60. The chart below compares the historical Sharpe Ratios of XTEN and PCMM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XTEN	PCMM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.38	0.60	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.87	-0.70

Correlation

The correlation between XTEN and PCMM is -0.01. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

XTEN vs. PCMM - Dividend Comparison

XTEN's dividend yield for the trailing twelve months is around 4.22%, less than PCMM's 6.83% yield.

	TTM	2025	2024	2023	2022
XTEN Bondbloxx Bloomberg Ten Year Target Duration US Treasury ETF	4.22%	4.05%	4.21%	3.71%	1.04%
PCMM BondBloxx Private Credit CLO ETF	6.83%	7.02%	0.00%	0.00%	0.00%

Drawdowns

XTEN vs. PCMM - Drawdown Comparison

The maximum XTEN drawdown since its inception was -13.86%, which is greater than PCMM's maximum drawdown of -4.32%. Use the drawdown chart below to compare losses from any high point for XTEN and PCMM.

Drawdown Indicators

	XTEN	PCMM	Difference
Max Drawdown Largest peak-to-trough decline	-13.86%	-4.32%	-9.54%
Max Drawdown (1Y) Largest decline over 1 year	-5.27%	-3.99%	-1.28%
Current Drawdown Current decline from peak	-3.09%	-2.16%	-0.93%
Average Drawdown Average peak-to-trough decline	-4.07%	-0.39%	-3.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	0.72%	+1.44%

Volatility

XTEN vs. PCMM - Volatility Comparison

Bondbloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) has a higher volatility of 2.54% compared to BondBloxx Private Credit CLO ETF (PCMM) at 1.48%. This indicates that XTEN's price experiences larger fluctuations and is considered to be riskier than PCMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTEN	PCMM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	1.48%	+1.06%
Volatility (6M) Calculated over the trailing 6-month period	4.29%	2.34%	+1.95%
Volatility (1Y) Calculated over the trailing 1-year period	7.15%	5.49%	+1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.70%	5.11%	+4.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.70%	5.11%	+4.59%