GBND vs PAB
Goldman Sachs Core Bond ETF vs PGIM Active Aggregate Bond ETF
Which is better, GBND or PAB?
Nearly the same fund. PAB costs less.
PAB has a lower expense ratio. PAB led over 1Y 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 | GBND | PAB |
|---|---|---|
| Expense Ratio | 0.25% | 0.19%Best |
| AUM | $601M | $98M |
| Dividend Yield | 4.01% | 5.50% |
| Holdings | 747 | 466 |
| YTD Return | -2.40% | -2.03%Best |
| 1Y Return | -2.18% | -1.81%Best |
| 3Y Return (annualized) | - | +4.98% |
| 5Y Return (annualized) | - | -0.45% |
| Volatility (annualized) | 4.0% | 3.9%Best |
| Max Drawdown | -4.9% | -4.8%Best |
| $10,000 over 1.3 years | $10,090 | $10,126Best |
| Fund Family | Goldman Sachs Asset Management | PGIM Investments |
| Category | Fixed Income | Fixed Income |
| Inception | Jun 24, 2025 | Apr 12, 2021 |
Not shown on this pair: Top 10 Weight, Style.
Volatility and max drawdown, and the $10,000 over 1.3 years row, are measured over the window both funds cover: Jun 26, 2025 to Oct 14, 2026 (1.3 years).
GBND 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 1.3 years both funds cover.
GBND vs PAB Performance
Goldman Sachs Core Bond ETF (GBND) is an ETF from Goldman Sachs Asset Management and PGIM Active Aggregate Bond ETF (PAB) is an ETF from PGIM Investments. Over the past year GBND returned -2.18% while PAB returned -1.81%. Year to date, GBND is down 2.40% versus a loss of 2.03% for PAB.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GBND has been the more volatile fund, with annualized monthly volatility of 4.0% compared with 3.9% for PAB. 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 -4.9% for GBND and -4.8% 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
GBND charges 0.25% per year while PAB charges 0.19%. On a $10,000 position that is $25 vs $19 annually, a gap of $6 per year that compounds over a long holding period. On income, GBND currently yields 4.01% against 5.50% for PAB.
Holdings Overlap
We hold position weights for 480 holdings in GBND and 301 in PAB, totalling 52.2% 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, 30 positions appear in both.
30 positions in common, counted across the 480 positions we hold weights for in GBND and 301 in PAB, against full books of 747 and 466.
Top Shared Holdings
| Stock | Weight in GBND | Weight in PAB | Difference |
|---|---|---|---|
| FNCL 5 10/11Fncl 5 10/26 | 0.61% | 0.72% | 0.11% |
| FN MA4437Fannie Mae Pool Umbs P#Ma4437 2.00000000 | 0.15% | 0.69% | 0.54% |
| FR SD8146Fhlmc 30Yr Umbs Super 2% Apr 01, 2051 | 0.06% | 0.70% | 0.64% |
| FNCL 5 9/11Fncl 5 9/25 Mtge | 0.00% | 0.72% | 0.72% |
| BAC V2.687 04/22/32Bank Of America Corp 2.69% 22Apr2032 | 0.01% | 0.48% | 0.47% |
| BANK5 2025-5YR14 A3Bank5 2025-5Yr14 5.646 04/14/2058 | 0.03% | 0.32% | 0.29% |
| C V3.057 01/25/33Citigroup Inc Regd V/R 3.05700000 | 0.12% | 0.13% | 0.01% |
| TRGP 4.2 02/01/33Targa Resources Corp | 0.03% | 0.22% | 0.19% |
| RCL 6.25 03/15/32 14Royal Caribbean 6.25% 03/15/32 | 0.17% | 0.06% | 0.11% |
| C V2.666 01/29/31Citigroup Inc. 2.666% 29-Jan-2031 | 0.01% | 0.20% | 0.19% |
You are not choosing between two funds in isolation.
Whichever of GBND 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, GBND or PAB?
GBND has an expense ratio of 0.25% while PAB charges 0.19%. PAB is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, GBND or PAB?
Over the past year GBND returned -2.18% vs -1.81% for PAB, so PAB leads on 1-year performance. Over the longest common window we track (1 years), GBND annualized +0.69% vs +0.97% for PAB. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GBND or PAB?
GBND has been the more volatile fund at 4.0% annualized versus 3.9% for PAB. Worst drawdown: GBND -4.9% vs PAB -4.8%.
Should I hold both GBND and PAB?
GBND 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, GBND or PAB?
GBND yields 4.01% while PAB yields 5.50%, so PAB currently pays the higher dividend yield.
Is PAB better than GBND?
PAB has a lower expense ratio. PAB led over 1Y 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.