PCI vs. HYGH
PCI (PGIM Corporate Bond 5-10 Year ETF) and HYGH (iShares Interest Rate Hedged High Yield Bond ETF) are both exchange-traded funds - PCI is a Corporate Bonds fund actively managed by PGIM, while HYGH is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Interest Hedged Index. PCI is actively managed, while HYGH is passively managed. At a 0.25 correlation, their price movements are largely independent. PCI charges 0.25%/yr vs 0.52%/yr for HYGH.
Performance
PCI vs. HYGH - Performance Comparison
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Returns By Period
In the year-to-date period, PCI achieves a 0.54% return, which is significantly lower than HYGH's 3.58% return.
PCI
- 1D
- -0.19%
- 1M
- -0.49%
- 6M
- 0.40%
- YTD
- 0.54%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYGH
- 1D
- -0.05%
- 1M
- 0.49%
- 6M
- 3.15%
- YTD
- 3.58%
- 1Y
- 7.13%
- 3Y*
- 9.32%
- 5Y*
- 6.92%
- 10Y*
- 6.13%
PCI vs. HYGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PCI PGIM Corporate Bond 5-10 Year ETF | 0.54% | 2.96% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 3.58% | 3.05% |
Correlation
The correlation between PCI and HYGH is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 1, 2025 | 0.25 |
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Return for Risk
PCI vs. HYGH — Risk / Return Rank
PCI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYGH
PCI vs. HYGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Corporate Bond 5-10 Year ETF (PCI) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH). 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.
| PCI | HYGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.44 | — |
| Martin ratioReturn relative to average drawdown | — | 17.37 | — |
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Drawdowns
PCI vs. HYGH - Drawdown Comparison
The maximum PCI drawdown since its inception was -3.04%, smaller than the maximum HYGH drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for PCI and HYGH.
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Drawdown Indicators
| PCI | HYGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.04% | -23.88% | +20.84% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.62% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -8.06% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.24% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.88% | — |
Current DrawdownCurrent decline from peak | -1.11% | -0.05% | -1.06% |
Average DrawdownAverage peak-to-trough decline | -0.60% | -2.21% | +1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.41% | — |
Volatility
PCI vs. HYGH - Volatility Comparison
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Volatility by Period
| PCI | HYGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.61% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.75% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 3.63% | +0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.16% | 7.07% | -2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.16% | 8.22% | -4.06% |
PCI vs. HYGH - Expense Ratio Comparison
PCI has a 0.25% expense ratio, which is lower than HYGH's 0.52% expense ratio.
Dividends
PCI vs. HYGH - Dividend Comparison
PCI's dividend yield for the trailing twelve months is around 5.01%, less than HYGH's 6.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 6.57% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
PCI PGIM Corporate Bond 5-10 Year ETF | 5.01% | 2.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PCI and HYGH have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PCI is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PCI is cheaper with a 0.25% expense ratio, compared with 0.52% for HYGH.
HYGH has the higher dividend yield at 6.57%, compared with 5.01% for PCI.
PCI is categorized as Corporate Bonds, while HYGH is High Yield Bonds. They also come from different issuers: PGIM and iShares. Their fees differ too: 0.25% for PCI and 0.52% for HYGH.
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