IUSB vs PTRB: Grades, Fees and Holdings Compared

iShares Core Universal USD Bond ETF

IUSBANasdaq

PGIM Total Return Bond ETF

PTRBBNYSE Arca

Overlap

No data

Expense ratio

IUSB −0.43pt a year

IUSB0.06%PTRB0.49%

Avg volume · 30D

IUSB 29.8×the volume

IUSB6.13MPTRB205K

3Y return · a year

PTRB +0.4pt

IUSB+5.8%PTRB+6.2%

IUSB vs PTRB Performance

Oct 31, 2025 – Oct 30, 2026

0.0%IUSB−0.4%PTRB

Expense ratio: IUSB 0.06%, better; PTRB 0.49%
Fund size: IUSB $50.2B; PTRB $1.2B
1Y total return: IUSB 0.0%, better; PTRB −0.4%
Yield (12M): IUSB 4.32%; PTRB 5.25%, better
Holdings: IUSB 18280; PTRB 1301
Avg volume (30D): IUSB 6.13M sh, better; PTRB 205K sh
NAV per share: IUSB $44.91; PTRB $40.18
52W range

ETF.net Grade

Pillar letters and Scores for IUSB, PTRB, with each pillar’s weight
Pillar	IUSB	PTRB
Cost30% weight	A92Higher	F18
Mission25% weight	A100	A100
Risk15% weight	C54Higher	C51
Tradability15% weight	A89Higher	A70
Holdings10% weight	A76Higher	B67
Durability5% weight	A94Higher	B66

Rank among US Aggregate Bond funds

How we build Categories ›

Same Category. IUSB and PTRB are both graded against the same 114 US Aggregate Bond funds, so their Grades compare head to head.

US Aggregate Bond⁠

Category · 114 funds

See all 114 ›

IUSB ranks 2nd and PTRB 61st of 114 funds in the US Aggregate Bond Category.

Rank 1AAGGiShares Core U.S. Aggregate Bond ETFScore 87
Rank 2AIUSBiShares Core Universal USD Bond ETFScore 86
Rank 2ASCHZSchwab U.S. Aggregate Bond ETFScore 86
Rank 61BGTOSInvesco Short Duration Total Return Bond ETFScore 58
Rank 61BPTRBPGIM Total Return Bond ETFScore 58
Rank 65BSCECSterling Capital Enhanced Core Bond ETFScore 57

Our read on each fund

ETF.net Research

IUSBAiShares Core Universal USD Bond ETF

PTRBBPGIM Total Return Bond ETF

In short

IUSB Most core bond funds stop at investment grade. IUSB keeps going, folding high-yield USD debt into the same wrapper across roughly 18,000 bonds, for 0.06% a year.

PTRB The ETF wrapper on PGIM Fixed Income's core-plus playbook: an active manager roaming multiple bond sectors in search of income and price gains, rather than cloning the Agg. You pay active freight for that freedom, and it pays monthly.

Stated mandate

IUSB The Fund seeks to track an index of U.S.-dollar-denominated bonds spanning investment-grade and high-yield sectors.

PTRB The Fund seeks total return through a diversified portfolio of bonds from multiple fixed-income sectors and may suit investors seeking current income and capital appreciation.

Why people hold it

IUSB 0.06% a year, a fraction of what the typical broad bond fund in its category charges, and iShares has run it since 2014.
Roughly 18,000 bonds spanning investment-grade and high-yield sectors, so one ticker covers ground a plain Agg tracker leaves on the table.ishares.com
Tracks its index closely, trades heavily, and sits on a multi-billion-dollar asset base. Income is paid monthly.
Among the strongest implementations in a crowded field of nearly 200 core bond funds.

PTRB Genuinely active: managers allocate across multiple fixed income sectors instead of tracking the Agg, so the portfolio can look quite different from index rivals like BND or SCHZ.pgim.com
Run by PGIM Fixed Income, and the same core-plus strategy is also offered as a mutual fund, so the ETF wraps an established process rather than a brand-new idea.pgim.com
What the documents advertise is what shows up: a diversified, mainly investment grade multi-sector bond portfolio, paying distributions monthly. It sits in the upper half of its cohort.pgim.com

Worth knowing

IUSB That high-yield sleeve is the trade-off: more credit risk than an investment-grade-only fund, and more movement when spreads widen.
BND, SPAB and SCHZ charge 0.03%, half IUSB's fee, but they stay inside investment grade.
Payouts land monthly, but the amount floats with the coupons underneath. Nothing about the income stream is fixed.

PTRB Costs 0.49% a year, above the 0.36% median for aggregate bond funds and many times the 0.03% charged by index anchors like BND and SPAB.
Active means dispersion. Sector, credit and duration calls drive the outcome, so results can diverge from the Agg in either direction.pgim.com
Launched in 2021, so its live record as an ETF is short next to core bond funds with decades behind them. Trading is moderate, not the deepest in the category.

Full IUSB profile⁠

Full PTRB profile⁠

IUSB vs PTRB Holdings

How IUSB and PTRB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile93.7%
Asset classFixed Income100%

Sector

No Sector split for PTRB.

Country, concentration and asset class

Country by domicile

Country weights in IUSB and PTRB, widest gap first
Country	More in IUSBMore in PTRB	IUSB	PTRB
Cayman Islands	PTRB +3.2 points	3.1%	6.3%
United States	IUSB +2.0 points	88.1%	86.1%
Ireland	PTRB +1.5 points	0.2%	1.7%
Other countries (37)	IUSB +2.7 points	8.6%	5.9%

Concentration

Weight in the 10 largest Holdings

IUSB8.1%
PTRB20.1%

Securities held

IUSB17,809
PTRB765

Asset class

IUSB: Fixed Income
PTRB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. IUSB holds 17,809 securities, PTRB 765.

All 18,365 IUSB holdings⁠All PTRB holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IUSB vs PTRB Cost

Overpaying PTRB vs IUSB

$8,522

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

IUSB 0.06%
$1,270
PTRB 0.49%
$9,792

Amount$10,000

Years30 years

Cost over time

IUSB 0.06%
PTRB 0.49%
Overpaying

Year by year

Year	IUSB	PTRB	Overpaying
10	$110	$883	$773
20	$432	$3,394	$2,962
30	$1,270	$9,792	$8,522

Expense ratio

0.06%IUSB, cheaper
0.49%PTRB

IUSB0.06%PTRB0.49%

0.00%1.04%

Middle half of US Aggregate Bond funds
Median 0.34%

IUSB 10th cheapest of 114 funds

PTRB 92nd cheapest of 114 funds

IUSB vs PTRB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IUSB 4.32%; PTRB 5.25%, better
Payout (12M): IUSB $1.94; PTRB $2.11
Last payment: IUSB $0.15; PTRB $0.16
Ex-dividend: IUSB Oct 1, 2026; PTRB Oct 30, 2026
Paid on: IUSB Oct 6, 2026; PTRB Pays Nov 3, 2026
Frequency: IUSB Monthly; PTRB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

IUSBMonthly · 45 paymentsAll IUSB payments⁠

PTRBMonthly · 46 paymentsAll PTRB payments⁠

IUSB vs PTRB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IUSB 5.5%, betterPTRB 5.8%
Return per unit of riskSharpe ratio, 3 years: IUSB 0.25PTRB 0.30, better
Worst fallMax drawdown, 5 years: IUSB −17.4%PTRB −19.2%since Dec 2021
Market sensitivityBeta, 5 years: IUSB 0.96PTRB 1.02; Market = 1

IUSB and PTRB in the news

All news⁠

ETF Filings
BondBloxx registers a 0.22% core-plus bond ETF, and two funds still not for sale
Oct 21, 2026IUSB

Popular comparisons

IUSBAvsAGGA
iShares Core Universal USD Bond ETF · iShares Core U.S. Aggregate Bond ETF
Expense ratio
0.06% · 0.03%
Category
PTRBBvsAGGA
PGIM Total Return Bond ETF · iShares Core U.S. Aggregate Bond ETF
Expense ratio
0.49% · 0.03%
Category
IUSBAvsSCHZA
iShares Core Universal USD Bond ETF · Schwab U.S. Aggregate Bond ETF
Expense ratio
0.06% · 0.03%
Category
PTRBBvsSCHZA
PGIM Total Return Bond ETF · Schwab U.S. Aggregate Bond ETF
Expense ratio
0.49% · 0.03%
Category
IUSBAvsSPABA
iShares Core Universal USD Bond ETF · State Street SPDR Portfolio Aggregate Bond ETF
Expense ratio
0.06% · 0.03%
Category
PTRBBvsSPABA
PGIM Total Return Bond ETF · State Street SPDR Portfolio Aggregate Bond ETF
Expense ratio
0.49% · 0.03%
Category

IUSB vs PTRB

In short

Stated mandate

Why people hold it

Worth knowing

How IUSB and PTRB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

BondBloxx registers a 0.22% core-plus bond ETF, and two funds still not for sale

How IUSB and PTRB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings