PCL vs. FLRN
PCL (PGIM Corporate Bond 10+ Year ETF) and FLRN (State Street SPDR Bloomberg Investment Grade Floating Rate ETF) are both exchange-traded funds - PCL is a Corporate Bonds fund actively managed by PGIM, while FLRN is a Ultrashort Bond fund tracking the Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index. PCL is actively managed, while FLRN is passively managed. Over the past year, PCL returned 0.99% vs 4.52% for FLRN. Their 0.17 correlation means their historical movements had little consistent relationship. PCL charges 0.25%/yr vs 0.15%/yr for FLRN.
Performance
PCL vs. FLRN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PCL achieves a -1.48% return, which is significantly lower than FLRN's 2.48% return.
PCL
- 1D
- 0.63%
- 1M
- -3.27%
- 6M
- -1.88%
- YTD
- -1.48%
- 1Y
- 0.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.98%
FLRN
- 1D
- -0.01%
- 1M
- 0.29%
- 6M
- 2.02%
- YTD
- 2.48%
- 1Y
- 4.52%
- 3Y*
- 5.47%
- 5Y*
- 4.31%
- 10Y*
- 3.05%
- ALL TIME*
- 2.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $60.93M | $49.76M | $40.18M | |
| $983.78K | $474.50K | $658.91K |
PCL vs. FLRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PCL PGIM Corporate Bond 10+ Year ETF | -1.48% | 2.51% |
FLRN State Street SPDR Bloomberg Investment Grade Floating Rate ETF | 2.48% | 2.05% |
Correlation
The correlation between PCL and FLRN is 0.17, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.17 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2025 | 0.17 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PCL vs. FLRN — Risk / Return Rank
PCL
FLRN
PCL vs. FLRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Corporate Bond 10+ Year ETF (PCL) and State Street SPDR Bloomberg Investment Grade Floating Rate ETF (FLRN). 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.
| PCL | FLRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.39 | ||
| Sortino ratioReturn per unit of downside risk | -11.35 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 3.05 | -2.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 19.93 | -19.73 |
| Martin ratioReturn relative to average drawdown | 0.45 | 116.27 | -115.82 |
Loading charts...
Drawdowns
PCL vs. FLRN - Drawdown Comparison
The maximum PCL drawdown since its inception was -5.14%, smaller than the maximum FLRN drawdown of -14.64%. Use the drawdown chart below to compare losses from any high point for PCL and FLRN.
Loading charts...
Drawdown Indicators
| PCL | FLRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.14% | -14.64% | +9.50% |
Max Drawdown (1Y)Largest decline over 1 year | -5.14% | -0.23% | -4.91% |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.43% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -2.16% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.64% | — |
Current DrawdownCurrent decline from peak | -4.37% | -0.01% | -4.36% |
Average DrawdownAverage peak-to-trough decline | -1.84% | -1.81% | -0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 0.04% | +2.18% |
Volatility
PCL vs. FLRN - Volatility Comparison
PGIM Corporate Bond 10+ Year ETF (PCL) has a higher volatility of 2.18% compared to State Street SPDR Bloomberg Investment Grade Floating Rate ETF (FLRN) at 0.18%. This indicates that PCL's price experiences larger fluctuations and is considered to be riskier than FLRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PCL | FLRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 0.18% | +2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 6.16% | 0.56% | +5.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.84% | 0.70% | +7.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.83% | 1.69% | +6.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.83% | 4.20% | +3.63% |
PCL vs. FLRN - Expense Ratio Comparison
PCL has a 0.25% expense ratio, which is higher than FLRN's 0.15% 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. FLRN - Dividend Comparison
PCL's dividend yield for the trailing twelve months is around 6.47%, more than FLRN's 4.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRN State Street SPDR Bloomberg Investment Grade Floating Rate ETF | 4.39% | 4.89% | 5.67% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% |
PCL PGIM Corporate Bond 10+ Year ETF | 6.47% | 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
PCL and FLRN have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCL has higher volatility (2.18%) compared to FLRN (0.18%). In terms of maximum drawdown, PCL dropped -5.14% vs FLRN's -14.64%.
On 1-year performance, FLRN leads with 4.52% vs 0.99% for PCL. On fees, FLRN is cheaper at 0.15% per year. On volatility, FLRN has been the lower-risk option at 0.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FLRN has performed better with a 4.52% return vs 0.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLRN is cheaper with a 0.15% expense ratio, compared with 0.25% for PCL.
PCL has the higher dividend yield at 6.47%, compared with 4.39% for FLRN.
PCL is categorized as Corporate Bonds, while FLRN is Ultrashort Bond. They also come from different issuers: PGIM and State Street. Their fees differ too: 0.25% for PCL and 0.15% for FLRN.
FLRN currently has the higher Sharpe Ratio (6.52 vs 0.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for PCL and FLRN
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer