GMMA vs PTBD

GMMABGammaRoad Market Navigation ETF

PTBDAPacer Trendpilot US Bond ETF

In short

GMMA One ticker that slides between US stock ETFs and Treasury bills as a daily rules-based signal dictates, instead of parking at a fixed mix. Actively run, 0.75% net of a waiver through December 29, 2026.

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

GMMA The Fund seeks capital appreciation through an actively managed strategy that generally tracks the MarketVector GammaRoad U.S. Equity Strategy Index.

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

• GMMA Rotates between US equity ETFs and T-bills on a signal reviewed daily, so the equity dial moves with the rulebook rather than sitting at a set weight.marketvector.commarketvector.com 2
• 0.75% net of a waiver through December 29, 2026 (0.86% gross) lands below the typical fee in its tactical multi-asset category.
• The index is built by MarketVector to a published rulebook, so the signal framework is documented rather than explained after the fact in a manager letter.marketvector.com
• Sits in the upper half of its tactical allocation peer group on our review.

• 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

• GMMA Small and thinly traded, so spreads can run wider than at headline index funds; the gap shows up most on big or hurried orders.
• Actively managed, so the portfolio can deviate from the index it generally tracks. Manager discretion is part of the package.sec.gov
• Listed in September 2024, so the live record is young, and any rotation signal can sit in T-bills through rallies or in stocks through drawdowns.marketvector.com

• 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 GMMA profile⁠

Full PTBD profile⁠