IBGK vs. PCL

Last updated Jun 25, 2026

IBGK (iShares iBonds Dec 2054 Term Treasury ETF) and PCL (PGIM Corporate Bond 10+ Year ETF) are both exchange-traded funds - IBGK is a Long-Term Bond fund tracking the ICE 2054 Maturity US Treasury Index, while PCL is a Corporate Bonds fund actively managed by PGIM. IBGK is passively managed, while PCL is actively managed. Their correlation of 0.91 suggests significant overlap in exposure. IBGK charges 0.07%/yr vs 0.25%/yr for PCL.

Performance

IBGK vs. PCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2054 Term Treasury ETF (IBGK) 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, IBGK achieves a 2.01% return, which is significantly lower than PCL's 2.74% return.

IBGK

• 1D: 1.33%
• 1M: 3.58%
• YTD: 2.01%
• 6M: 1.14%
• 1Y: 4.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PCL

• 1D: 0.67%
• 1M: 2.25%
• YTD: 2.74%
• 6M: 1.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBGK vs. PCL - Yearly Performance Comparison

	2026 (YTD)	2025
IBGK iShares iBonds Dec 2054 Term Treasury ETF	2.01%	2.57%
PCL PGIM Corporate Bond 10+ Year ETF	2.74%	2.51%

Correlation

The correlation between IBGK and PCL is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 1, 2025	0.91

Return for Risk

IBGK vs. PCL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBGK

IBGK Risk / Return Rank: 16
IBGK Sharpe Ratio Rank: 16
IBGK Sortino Ratio Rank: 15
IBGK Omega Ratio Rank: 14
IBGK Calmar Ratio Rank: 16
IBGK Martin Ratio Rank: 16

PCL

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBGK vs. PCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2054 Term Treasury ETF (IBGK) 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.

	IBGK	PCL	Difference
Sharpe ratio: Return per unit of total volatility	0.48	—	—
Sortino ratio: Return per unit of downside risk	0.76	—	—
Omega ratio: Gain probability vs. loss probability	1.09	—	—
Calmar ratio: Return relative to maximum drawdown	0.60	—	—
Martin ratio: Return relative to average drawdown	1.44	—	—

Drawdowns

IBGK vs. PCL - Drawdown Comparison

The maximum IBGK drawdown since its inception was -14.62%, which is greater than PCL's maximum drawdown of -5.14%. Use the drawdown chart below to compare losses from any high point for IBGK and PCL.

Drawdown Indicators

	IBGK	PCL	Difference
Max Drawdown Largest peak-to-trough decline	-14.62%	-5.14%	-9.48%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	—	—
Current Drawdown Current decline from peak	-7.03%	-0.24%	-6.79%
Average Drawdown Average peak-to-trough decline	-8.06%	-1.72%	-6.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	—	—

Volatility

Volatility by Period

	IBGK	PCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.38%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.43%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.15%	7.85%	+1.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.76%	7.85%	+3.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.76%	7.85%	+3.91%

IBGK vs. PCL - Expense Ratio Comparison

IBGK has a 0.07% 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

IBGK vs. PCL - Dividend Comparison

IBGK's dividend yield for the trailing twelve months is around 4.61%, less than PCL's 5.24% yield.

Position	TTM	2025	2024
IBGK iShares iBonds Dec 2054 Term Treasury ETF	4.61%	4.59%	3.15%
PCL PGIM Corporate Bond 10+ Year ETF	5.24%	2.52%	0.00%

Frequently Asked Questions

Can I hold both IBGK and PCL in my portfolio?

With a correlation of 0.91, IBGK 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 ETF is better, IBGK or PCL?

On fees, IBGK is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBGK or PCL?

IBGK is cheaper with a 0.07% expense ratio, compared with 0.25% for PCL.

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

PCL has the higher dividend yield at 5.24%, compared with 4.61% for IBGK.

What is the main difference between IBGK and PCL?

IBGK is categorized as Long-Term Bond, while PCL is Corporate Bonds. They also come from different issuers: iShares and PGIM. Their fees differ too: 0.07% for IBGK and 0.25% for PCL.