APCB vs PAB
ActivePassive Core Bond ETF vs PGIM Active Aggregate Bond ETF
Which is better, APCB or PAB?
Nearly the same fund. PAB costs less.
PAB has a lower expense ratio. PAB led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.99.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | APCB | PAB |
|---|---|---|
| Expense Ratio | 0.36% | 0.19%Best |
| AUM | $989M | $98M |
| Dividend Yield | 4.44% | 5.50% |
| Holdings | 3,770 | 466 |
| YTD Return | -2.08% | -2.03%Best |
| 1Y Return | -1.94% | -1.81%Best |
| 3Y Return (annualized) | +3.95% | +4.98%Best |
| 5Y Return (annualized) | - | -0.45% |
| Volatility (annualized) | 5.2%Best | 5.6% |
| Max Drawdown | -6.4%Best | -6.9% |
| $10,000 over 3.4 years | $10,632 | $10,930Best |
| Fund Family | Envestnet Asset Management | PGIM Investments |
| Category | Fixed Income | Fixed Income |
| Inception | May 3, 2023 | Apr 12, 2021 |
Not shown on this pair: Top 10 Weight, Style.
Volatility and max drawdown, and the $10,000 over 3.4 years row, are measured over the window both funds cover: May 3, 2023 to Oct 14, 2026 (3.4 years).
APCB vs PAB growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.4 years both funds cover.
APCB vs PAB Performance
ActivePassive Core Bond ETF (APCB) is an ETF from Envestnet Asset Management and PGIM Active Aggregate Bond ETF (PAB) is an ETF from PGIM Investments. Over the past year APCB returned -1.94% while PAB returned -1.81%. Year to date, APCB is down 2.08% versus a loss of 2.03% for PAB.
Over three years, APCB compounded at +3.95% per year against +4.98% for PAB.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PAB has been the more volatile fund, with annualized monthly volatility of 5.6% compared with 5.2% for APCB. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -6.4% for APCB and -6.9% for PAB. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
APCB charges 0.36% per year while PAB charges 0.19%. On a $10,000 position that is $36 vs $19 annually, a gap of $17 per year that compounds over a long holding period. On income, APCB currently yields 4.44% against 5.50% for PAB.
Holdings Overlap
We hold position weights for 1,221 holdings in APCB and 301 in PAB, totalling 75.9% and 64.9% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 28 positions appear in both.
28 positions in common, counted across the 1,221 positions we hold weights for in APCB and 301 in PAB, against full books of 3,770 and 466.
Top Shared Holdings
| Stock | Weight in APCB | Weight in PAB | Difference |
|---|---|---|---|
| T 2 11/15/41Us Treas Bds 2% 11/15/41 | 0.22% | 1.72% | 1.50% |
| T 1.25 08/15/31U.S. Treasury Note, 1.25%, Due 08/15/2031 | 0.40% | 1.17% | 0.77% |
| T 3 02/15/49Government Of The United States Of America 3.0% 15-Feb-2049 | 0.11% | 1.28% | 1.17% |
| T 1.875 11/15/51Government Of The United States Of America 1.875% 15-Nov-2051 | 0.27% | 1.01% | 0.74% |
| T 4.75 11/15/53Us Treasury N/B 4.75 11/15/2053 | 0.26% | 0.95% | 0.69% |
| T 3.25 05/15/42Us Treas Bds 3.25% 05/15/42 | 0.05% | 1.06% | 1.01% |
| T 1.625 11/15/50US Treasury Bonds 1.62% 15-11-2050 | 0.25% | 0.65% | 0.40% |
| FR SD8245Fhlmc 30Yr Umbs Super 4.5 2052-09-01 | 0.01% | 0.69% | 0.68% |
| T 1.875 02/15/51Treasury Bond 1.88% 02/15/2051 | 0.07% | 0.50% | 0.43% |
| FR SD8288Fr Sd8288 | 0.00% | 0.48% | 0.48% |
You are not choosing between two funds in isolation.
Whichever of APCB and PAB you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, APCB or PAB?
APCB has an expense ratio of 0.36% while PAB charges 0.19%. PAB is the cheaper option, by $17 a year on a $10,000 investment.
Which performed better, APCB or PAB?
Over the past year APCB returned -1.94% vs -1.81% for PAB, so PAB leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, APCB or PAB?
PAB has been the more volatile fund at 5.6% annualized versus 5.2% for APCB. Worst drawdown: APCB -6.4% vs PAB -6.9%.
Should I hold both APCB and PAB?
APCB and PAB have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, APCB or PAB?
APCB yields 4.44% while PAB yields 5.50%, so PAB currently pays the higher dividend yield.
Is PAB better than APCB?
PAB has a lower expense ratio. PAB led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.99. Which one suits a particular account depends on what it is for. This is information, not a recommendation.