PTBD vs RHTX

PTBDAPacer Trendpilot US Bond ETF

RHTXFRH Tactical Outlook ETF

In short

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.

RHTX A go-anywhere allocator: it can sit anywhere from all stocks to all bonds, built from plain index ETFs and steered by the adviser's own macro and technical read. Running since 2012.

Stated mandate

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.

RHTX The Fund seeks total return from capital appreciation and current income, with a secondary goal of downside protection. It uses tactical asset allocation across equity and fixed-income ETFs and may use alternative-investment ETFs and options for risk management.

Why people hold it

• 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.

• RHTX Can shift 0% to 100% between equity and fixed-income ETFs, with up to 20% in alternatives (REITs, commodities, long/short, global macro) used as a hedge.ncfunds.com
• Built from mainstream index ETFs, selected on how closely they track large-cap, S&P MidCap 400 and small-cap benchmarks rather than on star-manager picks.ncfunds.com
• Downside protection is a stated secondary goal, and the adviser may use options on ETFs and equities for risk management.ncfunds.com
• Trading since 2012, so this tactical mandate has been live through several very different market regimes.

Worth knowing

• 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.

• RHTX Costs 1.54% net of a waiver through September 30, 2027 (3.50% gross), above the category median and above peers such as ENDW at 0.22%.
• No index to measure it against. Results hinge on the adviser's technical and macro calls, and the mix can look nothing like a standard 60/40.ncfunds.com
• A small, thinly traded fund, so bid-ask spreads can run wider than the category's heavily traded names.

Full PTBD profile⁠

Full RHTX profile⁠