ILTB vs. PCL

Last updated Jun 4, 2026

ILTB (iShares Core 10+ Year USD Bond ETF) and PCL (PGIM Corporate Bond 10+ Year ETF) are both exchange-traded funds - ILTB is a Long-Term Bond fund tracking the Bloomberg U.S. Universal 10+ Year Index (USD), while PCL is a Corporate Bonds fund actively managed by PGIM. ILTB is passively managed, while PCL is actively managed. With a 0.97 correlation, they move nearly in lockstep. ILTB charges 0.06%/yr vs 0.25%/yr for PCL.

Performance

ILTB vs. PCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core 10+ Year USD Bond ETF (ILTB) 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, ILTB achieves a 0.30% return, which is significantly lower than PCL's 1.46% return.

ILTB

• 1D: -0.33%
• 1M: 1.04%
• YTD: 0.30%
• 6M: -0.71%
• 1Y: 7.17%
• 3Y*: 2.78%
• 5Y*: -2.88%
• 10Y*: 1.32%

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)

ILTB vs. PCL - Yearly Performance Comparison

	2026 (YTD)	2025
ILTB iShares Core 10+ Year USD Bond ETF	0.30%	2.92%
PCL PGIM Corporate Bond 10+ Year ETF	1.46%	2.51%

Correlation

The correlation between ILTB and PCL is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 4, 2025	0.97

Return for Risk

ILTB vs. PCL — Risk / Return Rank

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

ILTB

ILTB Risk / Return Rank: 25
ILTB Sharpe Ratio Rank: 25
ILTB Sortino Ratio Rank: 24
ILTB Omega Ratio Rank: 23
ILTB Calmar Ratio Rank: 27
ILTB Martin Ratio Rank: 25

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.

ILTB vs. PCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core 10+ Year USD Bond ETF (ILTB) 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.

	ILTB	PCL	Difference
Sharpe ratio: Return per unit of total volatility	0.91	—	—
Sortino ratio: Return per unit of downside risk	1.34	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	1.33	—	—
Martin ratio: Return relative to average drawdown	3.38	—	—
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

	ILTB	PCL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.23	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.11	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.61	-0.26

Drawdowns

ILTB vs. PCL - Drawdown Comparison

The maximum ILTB drawdown since its inception was -36.88%, which is greater than PCL's maximum drawdown of -5.14%. Use the drawdown chart below to compare losses from any high point for ILTB and PCL.

Drawdown Indicators

	ILTB	PCL	Difference
Max Drawdown Largest peak-to-trough decline	-36.88%	-5.14%	-31.74%
Max Drawdown (1Y) Largest decline over 1 year	-5.42%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.60%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.22%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.88%	—	—
Current Drawdown Current decline from peak	-21.28%	-1.49%	-19.79%
Average Drawdown Average peak-to-trough decline	-9.92%	-1.76%	-8.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	—	—

Volatility

Volatility by Period

	ILTB	PCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.54%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.88%	7.89%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.64%	7.89%	+4.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.56%	7.89%	+3.67%

ILTB vs. PCL - Expense Ratio Comparison

ILTB has a 0.06% 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

ILTB vs. PCL - Dividend Comparison

ILTB's dividend yield for the trailing twelve months is around 4.96%, less than PCL's 5.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILTB iShares Core 10+ Year USD Bond ETF	4.96%	4.83%	4.91%	4.38%	4.31%	3.04%	3.32%	3.45%	4.13%	3.97%	3.99%	4.20%
PCL PGIM Corporate Bond 10+ Year ETF	5.31%	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

Can I hold both ILTB and PCL in my portfolio?

With a correlation of 0.97, ILTB 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, ILTB or PCL?

On fees, ILTB is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ILTB or PCL?

ILTB is cheaper with a 0.06% expense ratio, compared with 0.25% for PCL.

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

PCL has the higher dividend yield at 5.31%, compared with 4.96% for ILTB.

What is the main difference between ILTB and PCL?

ILTB is categorized as Long-Term Bond, while PCL is Corporate Bonds. They also come from different issuers: iShares and PGIM. Their fees differ too: 0.06% for ILTB and 0.25% for PCL.