FLCB vs PAB
Franklin US Core Bond ETF vs PGIM Active Aggregate Bond ETF
Which is better, FLCB or PAB?
Nearly the same fund. FLCB costs less.
FLCB has a lower expense ratio. PAB led over 1Y, 3Y, 5Y 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 | FLCB | PAB |
|---|---|---|
| Expense Ratio | 0.15%Best | 0.19% |
| AUM | $3.1B | $98M |
| Dividend Yield | 4.50% | 5.50% |
| Holdings | 642 | 466 |
| YTD Return | -2.14% | -2.03%Best |
| 1Y Return | -2.11% | -1.81%Best |
| 3Y Return (annualized) | +4.58% | +4.98%Best |
| 5Y Return (annualized) | -0.62% | -0.45%Best |
| Volatility (annualized) | 6.1%Best | 6.4% |
| Max Drawdown | -18.5%Best | -19.3% |
| $10,000 over 5 years | $9,694 | $9,777Best |
| Fund Family | Franklin Templeton Investments (US) | PGIM Investments |
| Category | Fixed Income | Fixed Income |
| Inception | Sep 17, 2019 | Apr 12, 2021 |
Not shown on this pair: Top 10 Weight, Style.
Volatility and max drawdown are measured over the window both funds cover: Apr 15, 2021 to Oct 14, 2026 (5.5 years).
FLCB 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 5.5 years both funds cover.
FLCB vs PAB Performance
Franklin US Core Bond ETF (FLCB) is an ETF from Franklin Templeton Investments (US) and PGIM Active Aggregate Bond ETF (PAB) is an ETF from PGIM Investments. Over the past year FLCB returned -2.11% while PAB returned -1.81%. Year to date, FLCB is down 2.14% versus a loss of 2.03% for PAB.
Over three years, FLCB compounded at +4.58% per year against +4.98% for PAB; over five years the annualized figures are -0.62% and -0.45% respectively. Across the full 6-year window we track, PAB has the edge at -0.23% annualized vs -0.42%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PAB has been the more volatile fund, with annualized monthly volatility of 6.4% compared with 6.1% for FLCB. 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 -18.5% for FLCB and -19.3% 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
FLCB charges 0.15% per year while PAB charges 0.19%. On a $10,000 position that is $15 vs $19 annually, a gap of $4 per year that compounds over a long holding period. On income, FLCB currently yields 4.50% against 5.50% for PAB.
Holdings Overlap
We hold position weights for 342 holdings in FLCB and 301 in PAB, totalling 61.0% 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, 23 positions appear in both.
23 positions in common, counted across the 342 positions we hold weights for in FLCB and 301 in PAB, against full books of 642 and 466.
Top Shared Holdings
| Stock | Weight in FLCB | Weight in PAB | Difference |
|---|---|---|---|
| FNCL 6 10/11Fannie Mae Or Freddie Mac 6 | 1.80% | 1.02% | 0.78% |
| T 2 11/15/41Us Treas Bds 2% 11/15/41 | 0.75% | 1.72% | 0.97% |
| FNCL 5 10/11Fncl 5 10/26 | 1.70% | 0.72% | 0.98% |
| T 3 02/15/49Government Of The United States Of America 3.0% 15-Feb-2049 | 0.73% | 1.28% | 0.55% |
| T 1.875 11/15/51Government Of The United States Of America 1.875% 15-Nov-2051 | 0.06% | 1.01% | 0.95% |
| BAC V2.687 04/22/32Bank Of America Corp 2.69% 22Apr2032 | 0.06% | 0.48% | 0.42% |
| T 1.875 02/15/51Treasury Bond 1.88% 02/15/2051 | 0.03% | 0.50% | 0.47% |
| MS V2.239 07/21/32 GMorgan Stanley 2.24% 21Jul2032 | 0.24% | 0.15% | 0.09% |
| JPM V1.953 02/04/32Jp Morgan, 1.953% 4Feb2032, USD | 0.22% | 0.17% | 0.05% |
| FR SD8160Umbs 2051-08-01 | 0.09% | 0.28% | 0.19% |
You are not choosing between two funds in isolation.
Whichever of FLCB 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, FLCB or PAB?
FLCB has an expense ratio of 0.15% while PAB charges 0.19%. FLCB is the cheaper option, by $4 a year on a $10,000 investment.
Which performed better, FLCB or PAB?
Over the past year FLCB returned -2.11% vs -1.81% for PAB, so PAB leads on 1-year performance. Over the longest common window we track (6 years), FLCB annualized -0.42% vs -0.23% for PAB. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FLCB or PAB?
PAB has been the more volatile fund at 6.4% annualized versus 6.1% for FLCB. Worst drawdown: FLCB -18.5% vs PAB -19.3%.
Should I hold both FLCB and PAB?
FLCB 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, FLCB or PAB?
FLCB yields 4.50% while PAB yields 5.50%, so PAB currently pays the higher dividend yield.
Is PAB better than FLCB?
FLCB has a lower expense ratio. PAB led over 1Y, 3Y, 5Y 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.