PGIM Portfolio Ballast ETF (PBL) Performance
PBL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +8.3% since Dec 31, 2025
- 1 year
- +9.2% total return
- 3 years
- +15.8% a year
- Since first price
- +12.3% a year since 2022
PBL trailing returns vs SPY, QQQ, AGG
| Period | PBL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.6% | −0.6% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.6% | +1.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.4% | +5.4% | +7.8% | +8.4% | −1.5% |
| YTD | +8.3% | +8.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +9.2% | +6.9% | +14.4% | +15.9% | −1.1% |
| 3 years | +55.2%+15.8%/yr | +31.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionDec 14, 2022 | +56.5%+12.3%/yr | +32.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PBL vs SPY
From Dec 14, 2022: PBL grew to $15,654, SPY to $20,041.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PBL returns by calendar year
3 of 3 full years positive. Best 2024 (+16.7%), worst 2025 (+12.4%). 2026 is year to date.
PBL annual returns table
| Year | PBL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +8.3% | −5.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +12.4% | −11.5% | +17.7% | +20.8% | +7.2% |
| 2024 | +16.7% | −5.7% | +24.9% | +25.6% | +1.3% |
| 2023 | +14.3% | −7.9% | +26.2% | +54.9% | +5.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PBL largest drawdowns
Now 2.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 6, 2024 | −11.7% | Apr 8, 2025 | Jun 26, 2025 | 4 months | 7 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PBL risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | +15.2% | +13.7% |
| Volatility (annualized) | 9.0% | 8.8% |
| Sharpe ratio | 1.15 | 1.01 |
| Sortino ratio | 2.18 | 1.82 |
| Best month | +6.9% | +6.9% |
| Worst month | −3.7% | −3.7% |
| Best 12 months | +25.5% | +25.5% |
| Worst 12 months | +6.3% | +6.3% |
| Positive months | 61% | 62% |
| Beta vs S&P 500 | 0.71 | — |
| Correlation with S&P 500 | 0.99 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PBL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 35 | +6.3% | +13.5% | +25.5% | 100% |
| 3-year (a year) | 11 | +12.0% | +14.1% | +16.0% | 100% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
PBL performance overview
PGIM Portfolio Ballast ETF (PBL) returned +9.2% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned +12.3% a year, turning $10,000 into about $15,654. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −11.7%, from Dec 6, 2024 to Apr 8, 2025, and it took 3 months to get back to the old high. PBL finished 3 of its 3 full calendar years with a gain; the best year was 2024 (+16.7%) and the worst 2025 (+12.4%). Volatility has been 8.8% a year.
Related: PBL chart, PBL dividends. See the PBL overview for the latest quote and fund facts.
PBL performance FAQ
What is the PBL return over the past year?
PBL returned +9.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 6.9%.
How much would $10,000 invested in PBL be worth?
$10,000 invested in PBL at its first recorded close on December 14, 2022 would be worth about $15,654 on October 23, 2026 with distributions reinvested.
What was the worst year for PBL?
The worst calendar year was 2025, with a total return of +12.4%. The best was 2024 at +16.7%.
What is the biggest drawdown of PBL?
The largest peak-to-trough decline was −11.7% between December 6, 2024 and April 8, 2025. It recovered to the old high on June 26, 2025, 3 months after the bottom.
How volatile is PBL?
Over the past 3 years PBL had an annualized volatility of 9.0% and a Sharpe ratio of 1.15 (excess return over 1–3 month T-bills per unit of risk).