PBLvsGMMFETF Comparison
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PGIM Portfolio Ballast ETF (PBL) belongs to the Options Strategies segment. iShares Government Money Market ETF (GMMF) is part of the Money Market Bonds segment. PBL's top 3 sector exposures are Sovereign, Non-Corporate and Technology. In contrast, GMMF's top sector exposures are Sovereign and Government Agencies. PBL is more expensive with a Total Expense Ratio (TER) of 0.45%, versus 0.2% for GMMF. PBL is up 8.67% year-to-date (YTD) with -$2M in YTD flows. GMMF performs worse with 2.34% YTD performance, and +$99M in YTD flows. Run a side-by-side ETF comparison of PBL and GMMF below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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PBL vs GMMF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PBL GMMF | +1.30%+0.29% | +0.60%+0.89% | +8.67%+2.34% | +14.05%+3.66% | +47.72%n/a | n/an/a |
| Flows | PBL GMMF | -+$5M | -$2M+$24M | -$2M+$99M | +$2M+$128M | +$37M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PBL GMMF | +9.54%+0.10% | +8.83%+0.10% | +9.17%n/a | n/an/a |
| Max drawdown | PBL GMMF | -3.11%n/a | -5.85%n/a | -11.66%n/a | n/an/a |
| Max drawdown duration | PBL GMMF | 62dn/a | 75dn/a | 200dn/a | n/an/a |
Trading data
PBL | GMMF | |
Last sale 9/2/2026 at 1:30 PM | $33.53 | |
| Previous close 09/02/2026 | $33.43 | |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
PBL | GMMF | |
|---|---|---|
| Last price | $33.53 | – |
| 1D performance | +0.30% | – |
| AuM | $79.27 M | $190.49 M |
| E/R | 0.45% | 0.2% |
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Exposure
Countries
PBL
USA
73.54%
Other
26.46%
GMMF
USA
98.55%
Other
1.45%
Sectors
PBL
Sovereign
56.66%
Non-Corporate
13.75%
Other
29.6%
GMMF
Sovereign
81.73%
Government Agenci.
16.82%
Other
1.45%
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Diversification
PBL
Total weight of top 15 holdings out of 15
63.97%
GMMF
Total weight of top 15 holdings out of 15
67.45%
Top 15 holdings
Data as of July 31, 2026
PBL
USA, Notes 4.125% 31oct2029, USD (AF-2029)
19.84%
USA, Notes 3.625% 30sep2031, USD (Q-2031)
16.25%
PGIM Core Government Money Market Fund
13.74%
USA, Notes 4.125% 31oct2026, USD (BJ-2026)
7.21%
USA, Notes 3.875% 15aug2034, USD (E-2034)
5.14%
NVIDIA Corp.
0.24%
Apple, Inc.
0.24%
Microsoft Corp.
0.17%
USA, Notes 4.625% 15feb2035, USD (B-2035)
0.17%
USA, Notes 4.375% 15may2034, USD (C-2034)
0.16%
USA, Notes 4.25% 15nov2034, USD (F-2034)
0.16%
USA, Notes 4.375% 15may2036, USD (C-2036)
0.16%
USA, Notes 4.125% 15feb2036, USD (B-2036)
0.16%
USA, Notes 4.25% 15may2035, USD (C-2035)
0.16%
USA, Notes 4.25% 15aug2035, USD (E-2035)
0.16%
GMMF
USA, Bills 0% 4aug2026, USD (119D)
16.57%
USA, Bills 0% 11aug2026, USD (119D)
13.09%
USA, Bills 0% 1oct2026, USD (364D)
6.52%
USA, Bills 0% 25aug2026, USD (119D)
5.97%
USA, Bills 0% 20aug2026, USD (182D)
5.65%
USA, Bills 0% 15sep2026, USD (119D)
3.65%
USA, Bills 0% 1sep2026, USD (119D)
2.39%
USA, Bills 0% 27aug2026, USD (182D)
2.21%
USA, Bills 0% 28jan2027, USD (182D)
1.96%
USA, Notes FRN 30apr2028, USD (BB-2028)
1.89%
USA, Bills 0% 18aug2026, USD (119D)
1.88%
USA, Bills 0% 3sep2026, USD (364D)
1.75%
USA, Bills 0% 6aug2026, USD (364D)
1.46%
USA, Bills 0% 17nov2026, USD (119D)
1.39%
Federal Farm Credit Banks, FRN 20oct2026, USD
1.08%
Frequently asked questions about PBL and GMMF
How have the PBL and GMMF ETFs performed in 2026?
As of September 1, 2026, PBL is up 8.67% year-to-date (YTD), while GMMF has returned 2.34%. That puts PBL better performer ahead so far this year.
Which ETF is attracting more investor money: PBL or GMMF?
Year-to-date, the PBL ETF saw -$2M in flows, compared to +$99M for GMMF.
Which ETF is more volatile: PBL or GMMF?
Over the past year, PBL had a volatility of 8.83%, while GMMF experienced 0.1%.
Which ETF is bigger: PBL or GMMF?
As of September 1, 2026, PBL holds $79.27 M in assets under management (AUM), while GMMF manages $190.49 M.
What sectors do the PBL and GMMF ETFs invest in?
PBL leans toward sectors like Sovereign and Non-Corporate. Meanwhile, GMMF focuses on Sovereign and Government Agencies.
What are the top holdings of the PBL ETF and GMMF ETF?
PBL top holdings include USA, Notes 4.125% 31oct2029, USD (AF-2029), USA, Notes 3.625% 30sep2031, USD (Q-2031) and PGIM Core Government Money Market Fund. GMMF holds in its top three: USA, Bills 0% 4aug2026, USD (119D), USA, Bills 0% 11aug2026, USD (119D) and USA, Bills 0% 1oct2026, USD (364D).
Which ETF is more diversified: PBL or GMMF?
PBL holds 609 securities with 63.97% of its assets in the top 15. GMMF has 141 securities and a top 15 weight of 67.45%.
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