PCL vs. IGHG

Last updated Jun 4, 2026

PCL (PGIM Corporate Bond 10+ Year ETF) and IGHG (ProShares Investment Grade-Interest Rate Hedged) are both Corporate Bonds funds. PCL is actively managed, while IGHG is passively managed. At a 0.22 correlation, their price movements are largely independent. PCL charges 0.25%/yr vs 0.30%/yr for IGHG.

Performance

PCL vs. IGHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Corporate Bond 10+ Year ETF (PCL) and ProShares Investment Grade-Interest Rate Hedged (IGHG). 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 lower than IGHG's 2.17% return.

PCL

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

IGHG

• 1D: 0.05%
• 1M: 0.76%
• YTD: 2.17%
• 6M: 2.54%
• 1Y: 5.77%
• 3Y*: 8.57%
• 5Y*: 5.24%
• 10Y*: 4.72%

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

PCL vs. IGHG - Yearly Performance Comparison

	2026 (YTD)	2025
PCL PGIM Corporate Bond 10+ Year ETF	1.46%	2.51%
IGHG ProShares Investment Grade-Interest Rate Hedged	2.17%	2.58%

Correlation

The correlation between PCL and IGHG is 0.22, 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 4, 2025	0.22

Return for Risk

PCL vs. IGHG — Risk / Return Rank

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

IGHG

IGHG Risk / Return Rank: 56
IGHG Sharpe Ratio Rank: 48
IGHG Sortino Ratio Rank: 52
IGHG Omega Ratio Rank: 50
IGHG Calmar Ratio Rank: 66
IGHG Martin Ratio Rank: 64

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. IGHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Corporate Bond 10+ Year ETF (PCL) and ProShares Investment Grade-Interest Rate Hedged (IGHG). 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	IGHG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.68	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.05	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.54	+0.08

Drawdowns

PCL vs. IGHG - Drawdown Comparison

The maximum PCL drawdown since its inception was -5.14%, smaller than the maximum IGHG drawdown of -25.16%. Use the drawdown chart below to compare losses from any high point for PCL and IGHG.

Drawdown Indicators

	PCL	IGHG	Difference
Max Drawdown Largest peak-to-trough decline	-5.14%	-25.16%	+20.02%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.75%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-8.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-25.16%	—
Current Drawdown Current decline from peak	-1.49%	-0.11%	-1.38%
Average Drawdown Average peak-to-trough decline	-1.76%	-2.30%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.50%	—

Volatility

Volatility by Period

	PCL	IGHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.53%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.89%	3.44%	+4.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.89%	5.02%	+2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.89%	7.46%	+0.43%

PCL vs. IGHG - Expense Ratio Comparison

PCL has a 0.25% expense ratio, which is lower than IGHG's 0.30% expense ratio.

Dividends

PCL vs. IGHG - Dividend Comparison

PCL's dividend yield for the trailing twelve months is around 5.31%, more than IGHG's 5.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGHG ProShares Investment Grade-Interest Rate Hedged	5.11%	5.14%	5.06%	4.99%	3.55%	2.50%	2.79%	3.48%	4.13%	3.36%	3.37%	3.65%
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 IGHG in my portfolio?

PCL and IGHG have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PCL or IGHG?

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, PCL or IGHG?

PCL is cheaper with a 0.25% expense ratio, compared with 0.30% for IGHG.

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

PCL has the higher dividend yield at 5.31%, compared with 5.11% for IGHG.

What is the main difference between PCL and IGHG?

They also come from different issuers: PGIM and ProShares. Their fees differ too: 0.25% for PCL and 0.30% for IGHG.