PTBD vs THY

PTBDAPacer Trendpilot US Bond ETF

THYCToews Agility Shares Dynamic Tactical Income 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.

THY A junk-bond market timer in ETF form: all-in on high yield when its momentum signals say go, and the prospectus lets it sit 100% in cash and Treasuries for long stretches when they say stop. Income first, defense second, by design.

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.

THY The fund seeks income as its primary objective and seeks secondarily to limit risk during unfavorable market conditions.

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.

• THY The defensive setting is literal: filings allow a 100% allocation to cash, Treasuries or short-term fixed income for significant stretches when high-yield signals turn.sec.gov
• Signals are mechanical, not vibes. The adviser reads price movement and momentum in high-yield bond markets to set the fund's weighting.sec.gov
• Pays monthly, and can hedge long positions with futures and ETFs instead of only selling out of them.sec.gov

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.

• THY Costs 1.04% net of a waiver through August 31, 2027 (1.27% gross), above the category median. Cheaper tactical peers include PTBD at 0.60%.
• Timing cuts both ways: a long defensive stretch in cash and Treasuries can mean a thinner payout and a missed high-yield rebound.sec.gov
• Thinly traded, so the bid-ask spread is a real part of the cost of getting in and out.

Full PTBD profile⁠

Full THY profile⁠