GHTA vs PTBD

GHTADGoose Hollow Tactical Allocation ETF

PTBDAPacer Trendpilot US Bond ETF

In short

GHTA A boutique macro shop's one-ticker answer to 60/40: GHTA actively shuffles global stock and bond ETFs as the business cycle turns, and measures itself against a plain 60% MSCI World / 40% Bloomberg U.S. Aggregate blend.

PTBD Trend following, pointed at bonds instead of stocks. A published rulebook shifts PTBD between high yield corporates and intermediate Treasuries as their relative strength changes, dialing credit risk up or down by formula rather than by opinion.

Stated mandate

GHTA The Fund seeks total return. It uses an actively managed tactical, go-anywhere approach across a wide variety of asset classes, including individual equities and ETFs, with exposure determined by market capitalization and/or industry classification.

PTBD The Fund seeks to track, before fees and expenses, the total return of the Pacer Trendpilot US Bond Index through a rules-based strategy that alternates between high-yield corporate bonds and U.S. Treasury bonds.

Why people hold it

• GHTA Go-anywhere by design. One ticker buys an actively managed mix across asset classes and geographies instead of a fixed stock-bond split.gham.co
• Honest yardstick: the fund names a 60% MSCI World / 40% Bloomberg U.S. Aggregate blend as its reference, so the manager's calls are judged against a simple mix anyone can replicate.
• Built on ETFs, not a black box. The portfolio holds equity and fixed income funds, and the adviser runs a macro and business-cycle framework it has applied since the 2021 launch.gham.cogham.co 2

• PTBD The rulebook is public and mechanical: high yield measured against Treasuries, compared to its 100-day average, with five straight closes needed to confirm. No manager hunch involved.paceretfs.com
• 0.60% a year, comfortably below the median for tactical multi-asset funds. Cheap for a strategy that does the reallocating for you.
• Holds roughly 1,000 bonds in whichever sleeve the signal points to, so no single issuer carries much weight. Income is distributed monthly.
• Trading since 2019, long enough to have run the rules through a rate shock and a credit wobble, and it sits in the upper tier of the tactical funds we cover.

Worth knowing

• GHTA Cost is the sticking point: 1.77% net of a waiver through January 31, 2027 (1.84% gross), above the median of its 46-fund tactical group. ENDW charges 0.22%; GMOD 0.50% net of a waiver through June 30, 2027.
• Small and lightly traded, so bid-ask spreads can be wider than on household-name allocation funds, and size moves with flows.
• Everything rides on the manager's timing, not an index rulebook, and cash comes back once or twice a year rather than monthly.gham.co

• PTBD Trend rules react, they don't anticipate. A sharp reversal can flip the signal after the move has happened, and the confirmation window means the switch lands days later.paceretfs.com
• In its risk-on position the portfolio is high yield corporate debt, full stop. That is credit risk, a different animal from Treasury rate risk.paceretfs.com
• Not one of the heavily traded names in its category, so the spread and a limit order matter more here than with a mega-fund.

Full GHTA profile⁠

Full PTBD profile⁠