PCL vs. LQDH

Last updated Jun 4, 2026

PCL (PGIM Corporate Bond 10+ Year ETF) and LQDH (iShares Interest Rate Hedged Corporate Bond ETF) are both Corporate Bonds funds. Both are actively managed. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.

Performance

PCL vs. LQDH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Corporate Bond 10+ Year ETF (PCL) and iShares Interest Rate Hedged Corporate Bond ETF (LQDH). 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 LQDH's 2.31% return.

PCL

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

LQDH

• 1D: 0.00%
• 1M: 1.09%
• YTD: 2.31%
• 6M: 3.00%
• 1Y: 7.55%
• 3Y*: 8.05%
• 5Y*: 5.28%
• 10Y*: 4.64%

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

PCL vs. LQDH - Yearly Performance Comparison

	2026 (YTD)	2025
PCL PGIM Corporate Bond 10+ Year ETF	1.46%	2.51%
LQDH iShares Interest Rate Hedged Corporate Bond ETF	2.31%	3.62%

Correlation

The correlation between PCL and LQDH is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 4, 2025	0.51

Return for Risk

PCL vs. LQDH — Risk / Return Rank

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

LQDH

LQDH Risk / Return Rank: 81
LQDH Sharpe Ratio Rank: 86
LQDH Sortino Ratio Rank: 91
LQDH Omega Ratio Rank: 89
LQDH Calmar Ratio Rank: 66
LQDH Martin Ratio Rank: 74

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. LQDH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Corporate Bond 10+ Year ETF (PCL) and iShares Interest Rate Hedged Corporate Bond ETF (LQDH). 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	LQDH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.80	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.20	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.58	+0.03

Drawdowns

PCL vs. LQDH - Drawdown Comparison

The maximum PCL drawdown since its inception was -5.14%, smaller than the maximum LQDH drawdown of -24.63%. Use the drawdown chart below to compare losses from any high point for PCL and LQDH.

Drawdown Indicators

	PCL	LQDH	Difference
Max Drawdown Largest peak-to-trough decline	-5.14%	-24.63%	+19.49%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.34%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.86%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-7.08%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-24.63%	—
Current Drawdown Current decline from peak	-1.49%	-0.09%	-1.40%
Average Drawdown Average peak-to-trough decline	-1.76%	-1.68%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.55%	—

Volatility

Volatility by Period

	PCL	LQDH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.49%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.89%	2.70%	+5.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.89%	4.41%	+3.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.89%	6.44%	+1.45%

PCL vs. LQDH - Expense Ratio Comparison

Both PCL and LQDH have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

PCL vs. LQDH - Dividend Comparison

PCL's dividend yield for the trailing twelve months is around 5.31%, less than LQDH's 5.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LQDH iShares Interest Rate Hedged Corporate Bond ETF	5.95%	6.06%	7.57%	7.69%	3.73%	1.65%	2.22%	3.09%	5.08%	2.37%	2.33%	2.98%
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 LQDH in my portfolio?

PCL and LQDH have a correlation of 0.51, 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 LQDH?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PCL or LQDH?

PCL and LQDH have the same expense ratio: 0.25% per year.

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

LQDH has the higher dividend yield at 5.95%, compared with 5.31% for PCL.

What is the main difference between PCL and LQDH?

They also come from different issuers: PGIM and iShares.