PCL vs. IBGK

Last updated Jun 24, 2026

PCL (PGIM Corporate Bond 10+ Year ETF) and IBGK (iShares iBonds Dec 2054 Term Treasury ETF) are both exchange-traded funds - PCL is a Corporate Bonds fund actively managed by PGIM, while IBGK is a Long-Term Bond fund tracking the ICE 2054 Maturity US Treasury Index. PCL is actively managed, while IBGK is passively managed. Their correlation of 0.91 suggests significant overlap in exposure. PCL charges 0.25%/yr vs 0.07%/yr for IBGK.

Performance

PCL vs. IBGK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Corporate Bond 10+ Year ETF (PCL) and iShares iBonds Dec 2054 Term Treasury ETF (IBGK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCL achieves a 2.06% return, which is significantly higher than IBGK's 0.68% return.

PCL

• 1D: 0.18%
• 1M: 1.57%
• YTD: 2.06%
• 6M: 1.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBGK

• 1D: 0.11%
• 1M: 2.23%
• YTD: 0.68%
• 6M: 0.42%
• 1Y: 3.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PCL vs. IBGK - Yearly Performance Comparison

	2026 (YTD)	2025
PCL PGIM Corporate Bond 10+ Year ETF	2.06%	2.51%
IBGK iShares iBonds Dec 2054 Term Treasury ETF	0.68%	2.57%

Correlation

The correlation between PCL and IBGK is 0.91, 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	0.91

Return for Risk

PCL vs. IBGK — Risk / Return Rank

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

PCL

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

IBGK

IBGK Risk / Return Rank: 14
IBGK Sharpe Ratio Rank: 15
IBGK Sortino Ratio Rank: 14
IBGK Omega Ratio Rank: 13
IBGK Calmar Ratio Rank: 15
IBGK Martin Ratio Rank: 15

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. IBGK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Corporate Bond 10+ Year ETF (PCL) and iShares iBonds Dec 2054 Term Treasury ETF (IBGK). 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	IBGK	Difference
Sharpe ratio: Return per unit of total volatility	—	0.41	—
Sortino ratio: Return per unit of downside risk	—	0.66	—
Omega ratio: Gain probability vs. loss probability	—	1.07	—
Calmar ratio: Return relative to maximum drawdown	—	0.51	—
Martin ratio: Return relative to average drawdown	—	1.22	—

Drawdowns

PCL vs. IBGK - Drawdown Comparison

The maximum PCL drawdown since its inception was -5.14%, smaller than the maximum IBGK drawdown of -14.62%. Use the drawdown chart below to compare losses from any high point for PCL and IBGK.

Drawdown Indicators

	PCL	IBGK	Difference
Max Drawdown Largest peak-to-trough decline	-5.14%	-14.62%	+9.48%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.29%	—
Current Drawdown Current decline from peak	-0.91%	-8.25%	+7.34%
Average Drawdown Average peak-to-trough decline	-1.73%	-8.07%	+6.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.05%	—

Volatility

Volatility by Period

	PCL	IBGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.83%	9.06%	-1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.83%	11.73%	-3.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.83%	11.73%	-3.90%

PCL vs. IBGK - Expense Ratio Comparison

PCL has a 0.25% expense ratio, which is higher than IBGK's 0.07% 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. IBGK - Dividend Comparison

PCL's dividend yield for the trailing twelve months is around 5.27%, more than IBGK's 4.67% yield.

Position	TTM	2025	2024
IBGK iShares iBonds Dec 2054 Term Treasury ETF	4.67%	4.59%	3.15%
PCL PGIM Corporate Bond 10+ Year ETF	5.27%	2.52%	0.00%

Frequently Asked Questions

Can I hold both PCL and IBGK in my portfolio?

With a correlation of 0.91, PCL and IBGK 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 IBGK?

On fees, IBGK is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PCL or IBGK?

IBGK is cheaper with a 0.07% expense ratio, compared with 0.25% for PCL.

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

PCL has the higher dividend yield at 5.27%, compared with 4.67% for IBGK.

What is the main difference between PCL and IBGK?

PCL is categorized as Corporate Bonds, while IBGK is Long-Term Bond. They also come from different issuers: PGIM and iShares. Their fees differ too: 0.25% for PCL and 0.07% for IBGK.