IBGK vs. PCL

Last updated Jun 4, 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 0.92 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 -0.36% return, which is significantly lower than PCL's 1.46% return.

IBGK

• 1D: -0.34%
• 1M: 0.75%
• YTD: -0.36%
• 6M: -1.89%
• 1Y: 4.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PCL

• 1D: -0.35%
• 1M: 1.51%
• YTD: 1.46%
• 6M: 0.50%
• 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	-0.36%	1.25%
PCL PGIM Corporate Bond 10+ Year ETF	1.46%	2.51%

Correlation

The correlation between IBGK and PCL is 0.92, 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 4, 2025	0.92

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: 17
IBGK Sharpe Ratio Rank: 17
IBGK Sortino Ratio Rank: 17
IBGK Omega Ratio Rank: 16
IBGK Calmar Ratio Rank: 17
IBGK Martin Ratio Rank: 17

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.

	IBGK	PCL	Difference
Sharpe ratio: Return per unit of total volatility	0.51	—	—
Sortino ratio: Return per unit of downside risk	0.80	—	—
Omega ratio: Gain probability vs. loss probability	1.09	—	—
Calmar ratio: Return relative to maximum drawdown	0.65	—	—
Martin ratio: Return relative to average drawdown	1.63	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IBGK	PCL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.61	-0.59

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	-9.19%	-1.49%	-7.70%
Average Drawdown Average peak-to-trough decline	-8.06%	-1.76%	-6.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	—	—

Volatility

Volatility by Period

	IBGK	PCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.20%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.36%	7.89%	+1.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.81%	7.89%	+3.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.81%	7.89%	+3.92%

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 4.72%, less than PCL's 5.31% yield.

Position	TTM	2025	2024
IBGK iShares iBonds Dec 2054 Term Treasury ETF	4.72%	4.59%	3.15%
PCL PGIM Corporate Bond 10+ Year ETF	5.31%	2.52%	0.00%

Frequently Asked Questions

Can I hold both IBGK and PCL in my portfolio?

With a correlation of 0.92, 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 5.31%, compared with 4.72% 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.