ETF Evaluator:
Pacer Trendpilot US Bond ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Corporate Bond Over the Last Year
| 4.6% | Pacer US Cash Cows Bond ETF (MILK) |
| 3.8% | PGIM Corporate Bond 0-5 Year ETF (PCS) |
| 3.6% | Hilton BDC Corporate Bond ETF (HBDC) |
| 3.5% | iShares Invm Grd Crp Bd Buywrt Stgy ETF (LQDW) |
| 3.3% | State Street SPDR Port ItmtTermCorpBdETF (SPIB) |
Risk
Index
Risk
Index
ETF Details
Pacer Trendpilot US Bond ETF Overview
Pacer Trendpilot US Bond ETF (PTBD) is a passively managed Taxable Bond Corporate Bond exchange-traded fund (ETF). Pacer launched the ETF in 2019.
The investment seeks to track the total return performance, before fees and expenses, of the Pacer Trendpilot US Bond Index.
The index uses an objective, rules-based methodology to implement a systematic trend-following strategy that directs exposure to one of the following positions: (i) 100% to the S&P U.S. High Yield Corporate Bond Index, (ii) 50% to the S&P U.S. High Yield Corporate Bond Index and 50% to the S&P U.S. Treasury Bond 7-10 Year Index or (iii) 100% to S&P U.S. Treasury Bond 7-10 Year Index, depending on the “Risk Ratio". Normally at least 80% of the fund's total assets will be invested in the component securities of the index.
About Pacer Trendpilot US Bond ETF (PTBD)
There are 3 members of the management team with an average tenure of 3.93 years: Jeffrey Kernagis (2022), Jim Iredale (2019) and Devin Ryder (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P U.S. High Yield Corporate Bd TR USD index with a weighting of 100% and Pacer Trendpilot US Bond TR USD index with a weighting of 100%. Pacer Trendpilot US Bond ETF has 993 securities in its portfolio. The top 10 holdings constitute 3.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Pacer Trendpilot US Bond ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Pacer Trendpilot US Bond ETF has 12.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.6% (84.9% domestic bond, 12.7% foreign bond and 0.0% convertible bond). Pacer Trendpilot US Bond ETF has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $85 million in total assets, which is below the $3 billion average for the Corporate Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PTBD Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Pacer Trendpilot US Bond ETF expense ratio is above average compared to funds in the Corporate Bond category. Pacer Trendpilot US Bond ETF has an expense ratio of 0.60%, which is 144% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Pacer Trendpilot US Bond ETF has a portfolio turnover rate of 623%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 58% for the Corporate Bond category.
Recently, in the month of July 2026, Pacer Trendpilot US Bond ETF returned -0.4%, which earned it a grade of A, as the Corporate Bond category had an average return of -1.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Pacer Trendpilot US Bond ETF has a trailing yield of 5.93%, which is above the 5.07% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Pacer Trendpilot US Bond ETF Grades
Year to date, the ETF has returned 0.7%, 1.3 percentage points better than the category, which translates into a grade of A. The fund has returned 1.8% over the past year (grade of F), 4.4% over the past three years (grade of D) and -1.8% per year over the past five years (grade of F).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Pacer Trendpilot US Bond ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
PTBD Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PTBD Return (NAV) | -0.4% | 0.2% | 1.8% | 4.4% | -1.8% | na |
| PTBD Return (Price) | -0.3% | 0.5% | 2.2% | 4.5% | -1.7% | na |
| NAV +/- Price Return | -0.027% | -0.238% | -0.428% | -0.058% | -0.060% | na |
| Corporate Bond Avg | -1.4% | -0.6% | 2.6% | 4.8% | 0.1% | 2.3% |
| PTBD Grade (NAV) | A | A | F | D | F | na |
| +/- Category (NAV) | 1.1% | 0.9% | -0.8% | -0.3% | -1.9% | na |
| PTBD Tax-Cost Ratio | na | na | 2.3% | 2.5% | 2.4% | na |
PTBD Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PTBD Return (NAV) | 0.7% | 2.4% | 4.2% | 9.1% | -20.8% | 1.0% | 10.6% | na | na | na | na |
| PTBD Return (Price) | 1.1% | 2.5% | 4.2% | 8.8% | -20.9% | 0.5% | 10.6% | na | na | na | na |
| NAV +/- Price Ret | 0.526% | 0.020% | 0.018% | -0.029% | 0.002% | -0.541% | -0.003% | na | na | na | na |
| Corporate Bond Avg | -0.6% | 7.8% | 2.8% | 8.3% | -14.8% | -0.9% | 9.6% | 13.5% | -2.0% | 5.2% | 5.0% |
| PTBD Grade (NAV) | A | F | A | B | F | A | B | na | na | na | na |
| +/- Category | 1.3% | -5.4% | 1.3% | 0.8% | -6.1% | 1.9% | 1.1% | na | na | na | na |
| Risk Measures | |
| Beta: | 0.73 |
| R-Squared: | 73% |
| Standard Deviation: | 4.9% |
| Category Risk Index: | 0.83 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 0.40 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 5.9% |
| Total Assets: | $ 85 Mil |
| Share Class Assets: | $ 85 Mil |
| Turnover: | 623.0% |
| Expense Ratio: | 0.60% |
| Index Fund: | Yes |
| Index Tracked: | S&P U.S. High Yield Corporate Bd TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 6.8 years | |||
| Average Tenure: 3.9 years | |||
| Managers (Year): Iredale Jim (2019), Kernagis Jeffrey (2022), Ryder Devin (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 993 |
| % in Top 10 Holdings: | 3.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 12.7% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 84.9% |
| Foreign Bond: | 12.7% |
| Convertible Bond: | 0.0% |
| Other: | 1.8% |
| Cash: | 0.6% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Pacer |
| Phone Number: | 800-617-0004 |
| Website: | www.paceretfs.com |
| Inception Date: | October 22, 2019 |
Expenses and Fees
| Expense Ratio (%): | 0.60% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.25% |
