IBND vs. PCL
IBND (SPDR Bloomberg Barclays International Corporate Bond ETF) and PCL (PGIM Corporate Bond 10+ Year ETF) are both Corporate Bonds funds. IBND is passively managed, while PCL is actively managed. A 0.53 correlation means they provide meaningful diversification when combined. IBND charges 0.50%/yr vs 0.25%/yr for PCL.
Performance
IBND vs. PCL - Performance Comparison
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Returns By Period
In the year-to-date period, IBND achieves a -2.27% return, which is significantly lower than PCL's 2.74% return.
IBND
- 1D
- 0.03%
- 1M
- -1.10%
- YTD
- -2.27%
- 6M
- -2.40%
- 1Y
- -0.76%
- 3Y*
- 5.73%
- 5Y*
- -1.33%
- 10Y*
- 0.70%
PCL
- 1D
- 0.67%
- 1M
- 2.25%
- YTD
- 2.74%
- 6M
- 1.99%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBND vs. PCL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBND SPDR Bloomberg Barclays International Corporate Bond ETF | -2.27% | 3.24% |
PCL PGIM Corporate Bond 10+ Year ETF | 2.74% | 2.51% |
Correlation
The correlation between IBND and PCL is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 1, 2025 | 0.53 |
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Return for Risk
IBND vs. PCL — Risk / Return Rank
IBND
PCL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IBND vs. PCL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) 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.
| IBND | PCL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.99 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | — | — |
| Martin ratioReturn relative to average drawdown | -0.29 | — | — |
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Drawdowns
IBND vs. PCL - Drawdown Comparison
The maximum IBND drawdown since its inception was -35.62%, which is greater than PCL's maximum drawdown of -5.14%. Use the drawdown chart below to compare losses from any high point for IBND and PCL.
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Drawdown Indicators
| IBND | PCL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.62% | -5.14% | -30.48% |
Max Drawdown (1Y)Largest decline over 1 year | -6.75% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -9.18% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -33.49% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.62% | — | — |
Current DrawdownCurrent decline from peak | -10.55% | -0.24% | -10.31% |
Average DrawdownAverage peak-to-trough decline | -10.63% | -1.72% | -8.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | — | — |
Volatility
IBND vs. PCL - Volatility Comparison
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Volatility by Period
| IBND | PCL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 6.29% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 8.03% | 7.85% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.75% | 7.85% | +1.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.92% | 7.85% | +1.07% |
IBND vs. PCL - Expense Ratio Comparison
IBND has a 0.50% expense ratio, which is higher than PCL's 0.25% expense ratio.
Dividends
IBND vs. PCL - Dividend Comparison
IBND's dividend yield for the trailing twelve months is around 2.77%, less than PCL's 5.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBND SPDR Bloomberg Barclays International Corporate Bond ETF | 2.77% | 2.49% | 2.61% | 2.08% | 0.54% | 0.38% | 0.45% | 0.67% | 0.71% | 0.34% | 0.01% | 0.01% |
PCL PGIM Corporate Bond 10+ Year ETF | 5.24% | 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
IBND and PCL have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PCL is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PCL is cheaper with a 0.25% expense ratio, compared with 0.50% for IBND.
PCL has the higher dividend yield at 5.24%, compared with 2.77% for IBND.
They also come from different issuers: State Street and PGIM. Their fees differ too: 0.50% for IBND and 0.25% for PCL.
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