XTR vs. PTBD
XTR (Global X S&P 500 Tail Risk ETF) and PTBD (Pacer Trendpilot US Bond ETF) are both exchange-traded funds - XTR is a Equity Hedged fund tracking the Cboe S&P 500 Tail Risk Index, while PTBD is a High Yield Bonds fund tracking the Pacer Trendpilot US Bond Index. Both are passively managed. Over the past 3 years, XTR returned 18.80%/yr vs 5.04%/yr for PTBD. At a 0.48 correlation, their price movements are largely independent. XTR charges 0.25%/yr vs 0.60%/yr for PTBD.
Performance
XTR vs. PTBD - Performance Comparison
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Returns By Period
In the year-to-date period, XTR achieves a 9.12% return, which is significantly higher than PTBD's 0.89% return.
XTR
- 1D
- 0.41%
- 1M
- 4.62%
- YTD
- 9.12%
- 6M
- 8.93%
- 1Y
- 23.35%
- 3Y*
- 18.80%
- 5Y*
- —
- 10Y*
- —
PTBD
- 1D
- 0.10%
- 1M
- 0.42%
- YTD
- 0.89%
- 6M
- 0.97%
- 1Y
- 3.46%
- 3Y*
- 5.04%
- 5Y*
- -1.56%
- 10Y*
- —
XTR vs. PTBD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XTR Global X S&P 500 Tail Risk ETF | 9.12% | 13.66% | 21.85% | 21.16% | -17.67% | 4.43% |
PTBD Pacer Trendpilot US Bond ETF | 0.89% | 2.49% | 4.24% | 8.84% | -20.88% | -0.88% |
Correlation
The correlation between XTR and PTBD is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 2021 | 0.48 |
The correlation between XTR and PTBD shifts across timeframes, from 0.48 (all time) to 0.59 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XTR vs. PTBD — Risk / Return Rank
XTR
PTBD
XTR vs. PTBD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Tail Risk ETF (XTR) and Pacer Trendpilot US Bond ETF (PTBD). 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.
| XTR | PTBD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.17 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | 1.11 | +1.64 |
| Martin ratioReturn relative to average drawdown | 11.76 | 4.22 | +7.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XTR | PTBD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.18 | 0.93 | +1.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.11 | +0.62 |
Drawdowns
XTR vs. PTBD - Drawdown Comparison
The maximum XTR drawdown since its inception was -20.83%, smaller than the maximum PTBD drawdown of -26.00%. Use the drawdown chart below to compare losses from any high point for XTR and PTBD.
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Drawdown Indicators
| XTR | PTBD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.83% | -26.00% | +5.17% |
Max Drawdown (1Y)Largest decline over 1 year | -8.51% | -3.12% | -5.39% |
Max Drawdown (3Y)Largest decline over 3 years | -14.35% | -3.82% | -10.53% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.00% | — |
Current DrawdownCurrent decline from peak | -0.23% | -8.96% | +8.73% |
Average DrawdownAverage peak-to-trough decline | -5.94% | -10.16% | +4.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 0.82% | +1.17% |
Volatility
XTR vs. PTBD - Volatility Comparison
Global X S&P 500 Tail Risk ETF (XTR) has a higher volatility of 2.94% compared to Pacer Trendpilot US Bond ETF (PTBD) at 1.24%. This indicates that XTR's price experiences larger fluctuations and is considered to be riskier than PTBD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XTR | PTBD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.94% | 1.24% | +1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 8.16% | 2.83% | +5.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.75% | 3.72% | +7.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.78% | 7.25% | +6.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.78% | 7.80% | +5.98% |
XTR vs. PTBD - Expense Ratio Comparison
XTR has a 0.25% expense ratio, which is lower than PTBD's 0.60% expense ratio.
Dividends
XTR vs. PTBD - Dividend Comparison
XTR's dividend yield for the trailing twelve months is around 16.33%, more than PTBD's 5.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
PTBD Pacer Trendpilot US Bond ETF | 5.88% | 5.62% | 6.56% | 6.55% | 6.14% | 2.70% | 2.50% | 0.62% |
XTR Global X S&P 500 Tail Risk ETF | 16.33% | 17.82% | 20.89% | 1.09% | 1.08% | 2.32% | 0.00% | 0.00% |
Frequently Asked Questions
XTR and PTBD have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XTR has higher volatility (2.94%) compared to PTBD (1.24%). In terms of maximum drawdown, XTR dropped -20.83% vs PTBD's -26.00%.
On 3-year performance, XTR leads with 18.80% vs 5.04% for PTBD. On fees, XTR is cheaper at 0.25% per year. On volatility, PTBD has been the lower-risk option at 1.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XTR has performed better with a 18.80% return vs 5.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XTR is cheaper with a 0.25% expense ratio, compared with 0.60% for PTBD.
XTR has the higher dividend yield at 16.33%, compared with 5.88% for PTBD.
XTR is categorized as Equity Hedged, while PTBD is High Yield Bonds. XTR tracks Cboe S&P 500 Tail Risk Index, while PTBD tracks Pacer Trendpilot US Bond Index. They also come from different issuers: Global X and Pacer. Their fees differ too: 0.25% for XTR and 0.60% for PTBD.
XTR currently has the higher Sharpe Ratio (2.18 vs 0.93), 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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