PTBD vs THMR

PTBDAPacer Trendpilot US Bond ETF

THMRCTHOR AdaptiveRisk Dynamic 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.

THMR A machine-learning-assisted tactical allocator that roams across stocks, bonds, commodities and alternatives, and is allowed to reach for leveraged ETFs when it wants more punch. Fully active, unconstrained, and priced like it.

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.

THMR The Fund seeks capital appreciation through an actively managed, risk-managed multi-strategy approach. It dynamically allocates among strategies investing in stocks, ETFs and leveraged ETFs across equities, fixed income, commodities and alternatives, using machine-learning-assisted allocation optimization.

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.

• THMR One ticker, many markets: the manager can shift among equities, fixed income, commodities and alternatives instead of riding a fixed blend.
• The toolkit includes leveraged ETFs, so exposure can be dialed up or down inside the fund rather than by you placing the trades.
• Actively managed with machine-learning-assisted allocation optimization, so there is no index to hug when the tape turns.

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.

• THMR Costs 1.10% a year, above the typical tactical multi-asset fund and well above top-ranked peers such as ENDW (0.22%) and ONOF (0.39%).
• A small asset base and light trading can mean wider spreads, which shows up most on large or hurried orders.
• A 2026 launch built for capital appreciation, not income, and leveraged ETF positions amplify moves in both directions.

Full PTBD profile⁠

Full THMR profile⁠