HCRB vs PAB
Hartford Core Bond ETF vs PGIM Active Aggregate Bond ETF
Which is better, HCRB or PAB?
Nearly the same fund. PAB costs less.
PAB 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 | HCRB | PAB |
|---|---|---|
| Expense Ratio | 0.29% | 0.19%Best |
| AUM | $437M | $98M |
| Dividend Yield | 4.22% | 5.50% |
| Holdings | 1,642 | 466 |
| YTD Return | -5.38% | -2.03%Best |
| 1Y Return | -5.81% | -1.81%Best |
| 3Y Return (annualized) | +3.63% | +4.98%Best |
| 5Y Return (annualized) | -1.26% | -0.45%Best |
| Volatility (annualized) | 6.6% | 6.4%Best |
| Max Drawdown | -19.4% | -19.3%Best |
| $10,000 over 5 years | $9,386 | $9,777Best |
| Fund Family | Hartford Funds | PGIM Investments |
| Category | Fixed Income | Fixed Income |
| Inception | Feb 19, 2020 | 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).
HCRB 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.
HCRB vs PAB Performance
Hartford Core Bond ETF (HCRB) is an ETF from Hartford Funds and PGIM Active Aggregate Bond ETF (PAB) is an ETF from PGIM Investments. Over the past year HCRB returned -5.81% while PAB returned -1.81%. Year to date, HCRB is down 5.38% versus a loss of 2.03% for PAB.
Over three years, HCRB compounded at +3.63% per year against +4.98% for PAB; over five years the annualized figures are -1.26% and -0.45% respectively. Across the full 6-year window we track, PAB has the edge at -0.23% annualized vs -1.03%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HCRB has been the more volatile fund, with annualized monthly volatility of 6.6% compared with 6.4% 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 -19.4% for HCRB 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
HCRB charges 0.29% per year while PAB charges 0.19%. On a $10,000 position that is $29 vs $19 annually, a gap of $10 per year that compounds over a long holding period. On income, HCRB currently yields 4.22% against 5.50% for PAB.
Holdings Overlap
We hold position weights for 493 holdings in HCRB and 301 in PAB, totalling 65.2% 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, 24 positions appear in both.
24 positions in common, counted across the 493 positions we hold weights for in HCRB and 301 in PAB, against full books of 1,642 and 466.
Top Shared Holdings
| Stock | Weight in HCRB | Weight in PAB | Difference |
|---|---|---|---|
| FNCL 6 10/11Fannie Mae Or Freddie Mac 6 | 1.69% | 1.02% | 0.67% |
| FNCL 5 10/11Fncl 5 10/26 | 1.28% | 0.72% | 0.56% |
| T 1.625 11/15/50US Treasury Bonds 1.62% 15-11-2050 | 0.29% | 0.65% | 0.36% |
| T 2.75 08/15/32Us Treas Nts 2.75% 08/15/32 | 0.45% | 0.14% | 0.31% |
| JPM V1.953 02/04/32Jp Morgan, 1.953% 4Feb2032, USD | 0.07% | 0.17% | 0.10% |
| MS V2.699 01/22/31 GMorgan Stanley 2.70% 2031-01-22 | 0.07% | 0.17% | 0.10% |
| MS V5.831 04/19/35Morgan Stanley | 0.04% | 0.18% | 0.14% |
| GS V1.992 01/27/32Goldman Sachs Group Inc Regd V/R 1.99200000 | 0.07% | 0.14% | 0.07% |
| ORCL 3.95 03/25/51Oracle Corp 3.95 3/51 | 0.19% | 0.00% | 0.19% |
| STACR 2022-DNA3 M1BFreddie Mac Stacr Remic Trust Series 2022-Dna3 Cl. M1B 3.15% Apr 25/42 3.15069% 4/25/2042 | 0.16% | 0.03% | 0.13% |
You are not choosing between two funds in isolation.
Whichever of HCRB 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, HCRB or PAB?
HCRB has an expense ratio of 0.29% while PAB charges 0.19%. PAB is the cheaper option, by $10 a year on a $10,000 investment.
Which performed better, HCRB or PAB?
Over the past year HCRB returned -5.81% vs -1.81% for PAB, so PAB leads on 1-year performance. Over the longest common window we track (6 years), HCRB annualized -1.03% vs -0.23% for PAB. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HCRB or PAB?
HCRB has been the more volatile fund at 6.6% annualized versus 6.4% for PAB. Worst drawdown: HCRB -19.4% vs PAB -19.3%.
Should I hold both HCRB and PAB?
HCRB 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, HCRB or PAB?
HCRB yields 4.22% while PAB yields 5.50%, so PAB currently pays the higher dividend yield.
Is PAB better than HCRB?
PAB 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.