PCL vs. BLV

Last updated Jun 4, 2026

PCL (PGIM Corporate Bond 10+ Year ETF) and BLV (Vanguard Long-Term Bond ETF) are both exchange-traded funds - PCL is a Corporate Bonds fund actively managed by PGIM, while BLV is a Long-Term Bond fund tracking the Bloomberg U.S. Long Government/Credit Float Adjusted Index. PCL is actively managed, while BLV is passively managed. With a 0.97 correlation, they move nearly in lockstep. PCL charges 0.25%/yr vs 0.03%/yr for BLV.

Performance

PCL vs. BLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Corporate Bond 10+ Year ETF (PCL) and Vanguard Long-Term Bond ETF (BLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCL achieves a 1.46% return, which is significantly higher than BLV's 0.28% return.

PCL

• 1D: -0.35%
• 1M: 1.51%
• YTD: 1.46%
• 6M: 0.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BLV

• 1D: -0.31%
• 1M: 1.09%
• YTD: 0.28%
• 6M: -0.86%
• 1Y: 6.59%
• 3Y*: 2.02%
• 5Y*: -3.33%
• 10Y*: 0.99%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PCL vs. BLV - Yearly Performance Comparison

	2026 (YTD)	2025
PCL PGIM Corporate Bond 10+ Year ETF	1.46%	2.51%
BLV Vanguard Long-Term Bond ETF	0.28%	2.14%

Correlation

The correlation between PCL and BLV 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

PCL vs. BLV — Risk / Return Rank

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

BLV

BLV Risk / Return Rank: 23
BLV Sharpe Ratio Rank: 23
BLV Sortino Ratio Rank: 22
BLV Omega Ratio Rank: 21
BLV Calmar Ratio Rank: 24
BLV Martin Ratio Rank: 23

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.

PCL vs. BLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Corporate Bond 10+ Year ETF (PCL) and Vanguard Long-Term Bond ETF (BLV). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	PCL	BLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.81	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.26	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.37	+0.25

Drawdowns

PCL vs. BLV - Drawdown Comparison

The maximum PCL drawdown since its inception was -5.14%, smaller than the maximum BLV drawdown of -38.29%. Use the drawdown chart below to compare losses from any high point for PCL and BLV.

Drawdown Indicators

	PCL	BLV	Difference
Max Drawdown Largest peak-to-trough decline	-5.14%	-38.29%	+33.15%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.73%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.16%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.27%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.29%	—
Current Drawdown Current decline from peak	-1.49%	-24.14%	+22.65%
Average Drawdown Average peak-to-trough decline	-1.76%	-9.51%	+7.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.26%	—

Volatility

Volatility by Period

	PCL	BLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.50%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.62%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.89%	8.15%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.89%	12.97%	-5.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.89%	11.98%	-4.09%

PCL vs. BLV - Expense Ratio Comparison

PCL has a 0.25% expense ratio, which is higher than BLV's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PCL vs. BLV - Dividend Comparison

PCL's dividend yield for the trailing twelve months is around 5.31%, more than BLV's 4.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BLV Vanguard Long-Term Bond ETF	4.80%	4.67%	5.09%	4.06%	4.17%	3.37%	6.12%	3.57%	4.07%	3.63%	4.16%	4.37%
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 PCL and BLV in my portfolio?

With a correlation of 0.97, PCL and BLV 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, PCL or BLV?

On fees, BLV is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PCL or BLV?

BLV is cheaper with a 0.03% expense ratio, compared with 0.25% for PCL.

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

PCL has the higher dividend yield at 5.31%, compared with 4.80% for BLV.

What is the main difference between PCL and BLV?

PCL is categorized as Corporate Bonds, while BLV is Long-Term Bond. They also come from different issuers: PGIM and Vanguard. Their fees differ too: 0.25% for PCL and 0.03% for BLV.