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PTBD vs TSPX

Pacer Trendpilot US Bond ETF

PTBDANYSE Arca

Twin Oak Active Opportunities ETF

TSPXCCboe

Overlap

0.0%by weight

Expense ratio

PTBD −0.44pt a year

PTBD0.60%TSPX1.04%

Avg volume · 30D

PTBD 1.01×the volume

PTBD18.6KTSPX18.4K

PTBD vs TSPX Performance

Dec 31, 2025 – Oct 29, 2026

−0.3%PTBD+10.5%TSPX

Dec 31, 2025 to Oct 29, 2026. PTBD −0.3%. TSPX +10.5%. Use the arrow keys to read each point.−5%5%Dec 2025Jun 2026Oct 2026
Expense ratio
PTBD 0.60%, better
TSPX 1.04%
Fund size
PTBD $83M
TSPX $241M
1Y total return
PTBD −0.1%
TSPX +10.7%, better
Yield (12M)
PTBD 6.36%
TSPX No data
Holdings
PTBD 1047
TSPX 4
Avg volume (30D)
PTBD 18.6K sh, better
TSPX 18.4K sh
NAV per share
PTBD $18.34
TSPX $30.17
52W range

ETF.net Grade

PTBD: Cost 83, Risk 60, Mission not scored, Tradability 50, Holdings 90, Durability 83. TSPX: Cost 27, Risk 67, Mission not scored, Tradability 63, Holdings 34, Durability 67.
Pillar letters and Scores for PTBD, TSPX, with each pillar’s weight
PillarPTBDTSPX
Cost30% weightA83HigherD27
Mission25% weightNot scoredNot scored
Risk15% weightB60B67Higher
Tradability15% weightC50B63Higher
Holdings10% weightA90HigherD34
Durability5% weightA83HigherB67

Rank among Tactical Allocation funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. PTBD and TSPX are both graded against the same 46 Tactical Allocation funds, so their Grades compare head to head.

Tactical Allocation⁠

Category · 46 funds
See all 46 ›

PTBD ranks 3rd and TSPX 32nd of 46 funds in the Tactical Allocation Category.

  1. Rank 1AENDWCambria Endowment Style ETFScore 81
  2. Rank 2AGMODGMO Dynamic Allocation ETFScore 76
  3. Rank 3APTBDPacer Trendpilot US Bond ETFScore 72
  4. Rank 4ARISNInspire Capital Appreciation ETFScore 71
  5. Rank 29CMPROMonarch ProCap ETFScore 47
  6. Rank 32CTSPXTwin Oak Active Opportunities ETFScore 45
  7. Rank 33CBITCBitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETFScore 44

Our read on each fund

ETF.net Research

PTBDAPacer Trendpilot US Bond ETF

TSPXCTwin Oak Active Opportunities 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.

TSPX No data

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.

TSPX No data

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.

TSPX No data

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.

TSPX No data

Full PTBD profile⁠

Full TSPX profile⁠

PTBD vs TSPX Holdings

As of

How PTBD and TSPX differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of PTBD and 0.0% of TSPX.

Level by level

  • Asset classFixed Income, Equity0.0%
  • Holdings0 in both0.0%
  • Countryby domicile86.4%

Sector

No Sector split for PTBD.

Country, concentration and asset class

Country by domicile

Country weights in PTBD and TSPX, widest gap first
CountryMore in PTBDMore in TSPX
United StatesTSPX +13.4 points
CanadaPTBD +3.5 points
United KingdomPTBD +2.1 points
JapanPTBD +1.7 points
Cayman IslandsPTBD +1.4 points
LuxembourgPTBD +1.2 points
FrancePTBD +1.1 points
NetherlandsPTBD +0.7 points
Other countries (12)PTBD +1.8 points

Concentration

Weight in the 10 largest Holdings

  • PTBD5.8%
  • TSPX100.0%

Securities held

  • PTBD1,043
  • TSPX3

Asset class

PTBD
Fixed Income
TSPX
Equity

Holdings

  • Only in PTBD1,043
  • In both0
  • Only in TSPX3

Only in PTBD

1,043 securities, 97.5% of PTBD by weight

  • 1261229 BC Ltd 10% 04/15/20320.60%
  • EchoStar Corp 10.75% 11/30/20290.49%
  • Meridian Arc Holdco LLC 6.25% 04/30/20310.48%

Only in TSPX

3 securities, 99.6% of TSPX by weight

  • Vanguard S&P 500 ETF83.05%
  • JPMorgan Ultra-Short Income ETF8.70%
  • iShares Ultra Short Duration Bond Active ETF7.83%

Weight gaps

PTBD and TSPX share no securities.

All 1,050 PTBD holdings⁠All 5 TSPX 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.

PTBD vs TSPX Cost

Overpaying TSPX vs PTBD

$7,517

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

  • PTBD 0.60%

    $11,817

  • TSPX 1.04%

    $19,334

$10,000
30 years

Cost over time

  • PTBD 0.60%
  • TSPX 1.04%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TSPX $19,334PTBD $11,817

Year by year

YearPTBDTSPXOverpaying
10$1,076$1,831$755
20$4,116$6,867$2,751
30$11,817$19,334$7,517

Expense ratio

  • 0.60%PTBD, cheaper
  • 1.04%TSPX
  • Middle half of Tactical Allocation funds
  • Median 0.93%

PTBD 8th cheapest of 46 funds

TSPX 34th cheapest of 46 funds

PTBD vs TSPX Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
PTBD 6.36%
TSPX No data
Payout (12M)
PTBD $1.17
TSPX No data
Last payment
PTBD $0.10
TSPX $0.60
Ex-dividend
PTBD Oct 22, 2026
TSPX Dec 31, 2025
Paid on
PTBD Oct 26, 2026
TSPX No data
Frequency
PTBD Monthly
TSPX Irregular

Distribution history

Per share, 2023 to 2026, same scale for both

PTBDMonthly · 46 paymentsAll PTBD payments⁠
One bar per payment. 46 payments from 2023 to 2026 YTD. Jan 26, 2023 $0.09; Feb 23, 2023 $0.11; Mar 23, 2023 $0.12; Apr 27, 2023 $0.07; May 25, 2023 $0.04; Jun 22, 2023 $0.09; Jul 27, 2023 $0.16; Aug 24, 2023 $0.12; Sep 21, 2023 $0.12; Oct 26, 2023 $0.14; Nov 22, 2023 $0.11; Dec 27, 2023 $0.17; Jan 25, 2024 $0.09; Feb 22, 2024 $0.11; Mar 21, 2024 $0.12; Apr 25, 2024 $0.14; May 23, 2024 $0.09; Jun 27, 2024 $0.18; Jul 25, 2024 $0.11; Aug 22, 2024 $0.09; Sep 26, 2024 $0.06; Oct 24, 2024 $0.08; Nov 21, 2024 $0.10; Dec 27, 2024 $0.15; Jan 23, 2025 $0.07; Feb 26, 2025 $0.12; Mar 27, 2025 $0.10; Apr 24, 2025 $0.03; May 22, 2025 $0.04; Jun 26, 2025 $0.12; Jul 24, 2025 $0.10; Aug 27, 2025 $0.12; Sep 25, 2025 $0.09; Oct 23, 2025 $0.09; Nov 25, 2025 $0.06; Dec 23, 2025 $0.15; Jan 22, 2026 $0.06; Feb 25, 2026 $0.11; Mar 26, 2026 $0.07; Apr 23, 2026 $0.09; May 21, 2026 $0.07; Jun 25, 2026 $0.12; Jul 23, 2026 $0.10; Aug 27, 2026 $0.15; Sep 24, 2026 $0.09; Oct 22, 2026 $0.10. Use the arrow keys to read each point.$0$0.5020232026YTD
TSPXIrregular · 1 paymentAll TSPX payments⁠
One bar per payment. 1 payment from 2023 to 2026 YTD. Dec 31, 2025 $0.60. Use the arrow keys to read each point.$0$0.5020232026YTD

PTBD vs TSPX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PTBD 5.2%TSPX 8.9%since Mar 2025
Return per unit of riskSharpe ratio, 3 years
PTBD 0.08TSPX 1.32since Mar 2025
Worst fallMax drawdown, 5 years
PTBD −24.8%TSPX −6.9%since Feb 2025
Market sensitivityBeta, 5 years
PTBD 0.74TSPX 0.69

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