MILK vs. PCL

Last updated Jun 4, 2026

MILK (Pacer US Cash Cows Bond ETF) and PCL (PGIM Corporate Bond 10+ Year ETF) are both Corporate Bonds funds. MILK is passively managed, while PCL is actively managed. Their correlation of 0.94 suggests significant overlap in exposure. MILK charges 0.49%/yr vs 0.25%/yr for PCL.

Performance

MILK vs. PCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer US Cash Cows Bond ETF (MILK) 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, MILK achieves a 2.18% return, which is significantly higher than PCL's 1.46% return.

MILK

• 1D: -0.24%
• 1M: 1.10%
• YTD: 2.18%
• 6M: 1.55%
• 1Y: 9.23%
• 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)

MILK vs. PCL - Yearly Performance Comparison

	2026 (YTD)	2025
MILK Pacer US Cash Cows Bond ETF	2.18%	3.15%
PCL PGIM Corporate Bond 10+ Year ETF	1.46%	2.51%

Correlation

The correlation between MILK and PCL is 0.94, 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	0.94

Return for Risk

MILK vs. PCL — Risk / Return Rank

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

MILK

MILK Risk / Return Rank: 52
MILK Sharpe Ratio Rank: 53
MILK Sortino Ratio Rank: 55
MILK Omega Ratio Rank: 51
MILK Calmar Ratio Rank: 50
MILK Martin Ratio Rank: 53

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.

MILK vs. PCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer US Cash Cows Bond ETF (MILK) 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.

	MILK	PCL	Difference
Sharpe ratio: Return per unit of total volatility	1.78	—	—
Sortino ratio: Return per unit of downside risk	2.59	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.47	—	—
Martin ratio: Return relative to average drawdown	8.90	—	—
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

	MILK	PCL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	0.61	+0.36

Drawdowns

MILK vs. PCL - Drawdown Comparison

The maximum MILK drawdown since its inception was -6.16%, which is greater than PCL's maximum drawdown of -5.14%. Use the drawdown chart below to compare losses from any high point for MILK and PCL.

Drawdown Indicators

	MILK	PCL	Difference
Max Drawdown Largest peak-to-trough decline	-6.16%	-5.14%	-1.02%
Max Drawdown (1Y) Largest decline over 1 year	-3.75%	—	—
Current Drawdown Current decline from peak	-0.24%	-1.49%	+1.25%
Average Drawdown Average peak-to-trough decline	-1.09%	-1.76%	+0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	—	—

Volatility

Volatility by Period

	MILK	PCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.58%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.78%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.21%	7.89%	-2.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.69%	7.89%	-1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.69%	7.89%	-1.20%

MILK vs. PCL - Expense Ratio Comparison

MILK has a 0.49% expense ratio, which is higher than PCL's 0.25% expense ratio.

Dividends

MILK vs. PCL - Dividend Comparison

MILK's dividend yield for the trailing twelve months is around 7.04%, more than PCL's 5.31% yield.

Position	TTM	2025
MILK Pacer US Cash Cows Bond ETF	7.04%	6.97%
PCL PGIM Corporate Bond 10+ Year ETF	5.31%	2.52%

Frequently Asked Questions

Can I hold both MILK and PCL in my portfolio?

With a correlation of 0.94, MILK 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, MILK or PCL?

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.

Which ETF is cheaper, MILK or PCL?

PCL is cheaper with a 0.25% expense ratio, compared with 0.49% for MILK.

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

MILK has the higher dividend yield at 7.04%, compared with 5.31% for PCL.

What is the main difference between MILK and PCL?

They also come from different issuers: Pacer and PGIM. Their fees differ too: 0.49% for MILK and 0.25% for PCL.