IBDO vs. PCL

Last updated Jul 17, 2026

IBDO (iShares iBonds Dec 2023 Term Corporate ETF) and PCL (PGIM Corporate Bond 10+ Year ETF) are both Corporate Bonds funds. IBDO is passively managed, while PCL is actively managed. IBDO charges 0.10%/yr vs 0.25%/yr for PCL.

Performance

IBDO vs. PCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2023 Term Corporate ETF (IBDO) and PGIM Corporate Bond 10+ Year ETF (PCL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBDO

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PCL

• 1D: -0.08%
• 1M: -2.11%
• 6M: -1.22%
• YTD: -0.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBDO vs. PCL - Yearly Performance Comparison

	2026 (YTD)	2025
IBDO iShares iBonds Dec 2023 Term Corporate ETF	0.00%	0.00%
PCL PGIM Corporate Bond 10+ Year ETF	-0.03%	2.51%

Return for Risk

IBDO vs. PCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2023 Term Corporate ETF (IBDO) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

Drawdown Indicators

	IBDO	PCL	Difference
Max Drawdown Largest peak-to-trough decline	—	-5.14%	—
Current Drawdown Current decline from peak	—	-2.97%	—
Average Drawdown Average peak-to-trough decline	—	-1.73%	—

Volatility

Volatility by Period

	IBDO	PCL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	7.82%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	7.82%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	7.82%	—

IBDO vs. PCL - Expense Ratio Comparison

IBDO has a 0.10% 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

IBDO vs. PCL - Dividend Comparison

IBDO has not paid dividends to shareholders, while PCL's dividend yield for the trailing twelve months is around 5.87%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBDO iShares iBonds Dec 2023 Term Corporate ETF	0.00%	0.00%	0.00%	3.61%	1.85%	2.04%	2.47%	3.01%	3.10%	2.96%	3.01%	2.39%
PCL PGIM Corporate Bond 10+ Year ETF	5.87%	2.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, IBDO or PCL?

On fees, IBDO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBDO or PCL?

IBDO is cheaper with a 0.10% expense ratio, compared with 0.25% for PCL.

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

PCL has the higher dividend yield at 5.87%, compared with 0.00% for IBDO.

What is the main difference between IBDO and PCL?

They also come from different issuers: iShares and PGIM. Their fees differ too: 0.10% for IBDO and 0.25% for PCL.