BBBL vs. PCL

Last updated Aug 4, 2026

BBBL (Bondbloxx BBB Rated 10+ Year Corporate Bond ETF) and PCL (PGIM Corporate Bond 10+ Year ETF) are both exchange-traded funds - BBBL is a Long-Term Bond fund tracking the Bloomberg U.S. Corporate BBB 10+ Year Index - Benchmark TR Gross, while PCL is a Corporate Bonds fund actively managed by PGIM. BBBL is passively managed, while PCL is actively managed. Over the past year, BBBL returned 0.55% vs 0.99% for PCL. Their 0.99 correlation means they have historically moved very closely together. BBBL charges 0.19%/yr vs 0.25%/yr for PCL.

Performance

BBBL vs. PCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bondbloxx BBB Rated 10+ Year Corporate Bond ETF (BBBL) and PGIM Corporate Bond 10+ Year ETF (PCL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBBL achieves a -1.75% return, which is significantly lower than PCL's -1.48% return.

BBBL

• 1D: 0.57%
• 1M: -3.26%
• 6M: -2.49%
• YTD: -1.75%
• 1Y: 0.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.39%

PCL

• 1D: 0.63%
• 1M: -3.27%
• 6M: -1.88%
• YTD: -1.48%
• 1Y: 0.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 0.98%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BBBL Bondbloxx BBB Rated 10+ Year Corporate Bond ETF	$37.44K	$88.79K	$60.52K
PCL PGIM Corporate Bond 10+ Year ETF	$983.78K	$474.50K	$658.91K

BBBL vs. PCL - Yearly Performance Comparison

	2026 (YTD)	2025
BBBL Bondbloxx BBB Rated 10+ Year Corporate Bond ETF	-1.75%	3.33%
PCL PGIM Corporate Bond 10+ Year ETF	-1.48%	2.51%

Correlation

The correlation between BBBL and PCL is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (All Time) Calculated using the full available price history since Aug 1, 2025	0.99

The correlation between BBBL and PCL has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

BBBL vs. PCL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BBBL

BBBL Risk / Return Rank: 12
BBBL Sharpe Ratio Rank: 12
BBBL Sortino Ratio Rank: 11
BBBL Omega Ratio Rank: 11
BBBL Calmar Ratio Rank: 12
BBBL Martin Ratio Rank: 12

PCL

PCL Risk / Return Rank: 12
PCL Sharpe Ratio Rank: 13
PCL Sortino Ratio Rank: 12
PCL Omega Ratio Rank: 11
PCL Calmar Ratio Rank: 13
PCL Martin Ratio Rank: 13

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BBBL vs. PCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bondbloxx BBB Rated 10+ Year Corporate Bond ETF (BBBL) and PGIM Corporate Bond 10+ Year ETF (PCL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BBBL	PCL	Difference
Sharpe ratio: Return per unit of total volatility	0.07	0.13	-0.06
Sortino ratio: Return per unit of downside risk	0.15	0.23	-0.08
Omega ratio: Gain probability vs. loss probability	1.02	1.03	-0.01
Calmar ratio: Return relative to maximum drawdown	0.10	0.19	-0.09
Martin ratio: Return relative to average drawdown	0.22	0.45	-0.22

BBBL vs. PCL - Sharpe Ratio Comparison

The current BBBL Sharpe Ratio is 0.07, which is lower than the PCL Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of BBBL and PCL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BBBL vs. PCL - Drawdown Comparison

The maximum BBBL drawdown since its inception was -9.43%, which is greater than PCL's maximum drawdown of -5.14%. Use the drawdown chart below to compare losses from any high point for BBBL and PCL.

Drawdown Indicators

	BBBL	PCL	Difference
Max Drawdown Largest peak-to-trough decline	-9.43%	-5.14%	-4.29%
Max Drawdown (1Y) Largest decline over 1 year	-5.45%	-5.14%	-0.31%
Current Drawdown Current decline from peak	-4.77%	-4.37%	-0.40%
Average Drawdown Average peak-to-trough decline	-3.26%	-1.84%	-1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.47%	2.22%	+0.25%

Volatility

BBBL vs. PCL - Volatility Comparison

Bondbloxx BBB Rated 10+ Year Corporate Bond ETF (BBBL) and PGIM Corporate Bond 10+ Year ETF (PCL) have volatilities of 2.09% and 2.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBBL	PCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	2.18%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	5.97%	6.16%	-0.19%
Volatility (1Y) Calculated over the trailing 1-year period	7.64%	7.84%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.66%	7.83%	+1.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.66%	7.83%	+1.83%

BBBL vs. PCL - Expense Ratio Comparison

BBBL has a 0.19% expense ratio, which is lower than PCL's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BBBL vs. PCL - Dividend Comparison

BBBL's dividend yield for the trailing twelve months is around 5.92%, less than PCL's 6.47% yield.

Position	TTM	2025	2024
BBBL Bondbloxx BBB Rated 10+ Year Corporate Bond ETF	5.92%	5.77%	5.19%
PCL PGIM Corporate Bond 10+ Year ETF	6.47%	2.52%	0.00%

Frequently Asked Questions

Can I hold both BBBL and PCL in my portfolio?

With a correlation of 0.99, BBBL and PCL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BBBL or PCL?

PCL has higher volatility (2.18%) compared to BBBL (2.09%). In terms of maximum drawdown, BBBL dropped -9.43% vs PCL's -5.14%.

Which ETF is better, BBBL or PCL?

On 1-year performance, PCL leads with 0.99% vs 0.55% for BBBL. On fees, BBBL is cheaper at 0.19% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBBL or PCL?

Over the 1-year period, PCL has performed better with a 0.99% return vs 0.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBBL or PCL?

BBBL is cheaper with a 0.19% expense ratio, compared with 0.25% for PCL.

Which ETF pays a higher dividend yield, BBBL or PCL?

PCL has the higher dividend yield at 6.47%, compared with 5.92% for BBBL.

What is the main difference between BBBL and PCL?

BBBL is categorized as Long-Term Bond, while PCL is Corporate Bonds. They also come from different issuers: BondBloxx and PGIM. Their fees differ too: 0.19% for BBBL and 0.25% for PCL.

Which has better risk-adjusted returns?

PCL currently has the higher Sharpe Ratio (0.13 vs 0.07), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.