MILK vs. PCL

Last updated Jun 24, 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 2.49% return, which is significantly higher than PCL's 2.06% return.

MILK

• 1D: 0.11%
• 1M: 0.97%
• YTD: 2.49%
• 6M: 2.57%
• 1Y: 7.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PCL

• 1D: 0.18%
• 1M: 1.57%
• YTD: 2.06%
• 6M: 1.90%
• 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	2.49%	3.81%
PCL PGIM Corporate Bond 10+ Year ETF	2.06%	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 1, 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: 46
MILK Sharpe Ratio Rank: 47
MILK Sortino Ratio Rank: 47
MILK Omega Ratio Rank: 45
MILK Calmar Ratio Rank: 45
MILK Martin Ratio Rank: 47

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.

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.

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.

	MILK	PCL	Difference
Sharpe ratio: Return per unit of total volatility	1.50	—	—
Sortino ratio: Return per unit of downside risk	2.17	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	2.05	—	—
Martin ratio: Return relative to average drawdown	7.38	—	—

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	-0.23%	-0.91%	+0.68%
Average Drawdown Average peak-to-trough decline	-1.13%	-1.73%	+0.60%
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	1.26%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.80%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.15%	7.83%	-2.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.69%	7.83%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.69%	7.83%	-1.14%

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 7.02%, more than PCL's 5.27% yield.

Position	TTM	2025
MILK Pacer US Cash Cows Bond ETF	7.02%	6.97%
PCL PGIM Corporate Bond 10+ Year ETF	5.27%	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 7.02%, compared with 5.27% 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.