PCL vs. PUSH

Last updated Jun 4, 2026

PCL (PGIM Corporate Bond 10+ Year ETF) and PUSH (PGIM Ultra Short Municipal Bond ETF) are both exchange-traded funds - PCL is a Corporate Bonds fund actively managed by PGIM, while PUSH is a Municipal Bonds fund actively managed by PGIM. Both are actively managed. At a 0.20 correlation, their price movements are largely independent. PCL charges 0.25%/yr vs 0.15%/yr for PUSH.

Performance

PCL vs. PUSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Corporate Bond 10+ Year ETF (PCL) and PGIM Ultra Short Municipal Bond ETF (PUSH). 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 PUSH's 1.32% return.

PCL

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

PUSH

• 1D: 0.04%
• 1M: 0.38%
• YTD: 1.32%
• 6M: 1.66%
• 1Y: 3.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PCL vs. PUSH - Yearly Performance Comparison

	2026 (YTD)	2025
PCL PGIM Corporate Bond 10+ Year ETF	1.46%	2.51%
PUSH PGIM Ultra Short Municipal Bond ETF	1.32%	1.47%

Correlation

The correlation between PCL and PUSH is 0.20, 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	0.20

Return for Risk

PCL vs. PUSH — Risk / Return Rank

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

PUSH

PUSH Risk / Return Rank: 88
PUSH Sharpe Ratio Rank: 78
PUSH Sortino Ratio Rank: 85
PUSH Omega Ratio Rank: 94
PUSH Calmar Ratio Rank: 95
PUSH Martin Ratio Rank: 88

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. PUSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Corporate Bond 10+ Year ETF (PCL) and PGIM Ultra Short Municipal Bond ETF (PUSH). 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	PUSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	2.91	-2.30

Drawdowns

PCL vs. PUSH - Drawdown Comparison

The maximum PCL drawdown since its inception was -5.14%, which is greater than PUSH's maximum drawdown of -0.85%. Use the drawdown chart below to compare losses from any high point for PCL and PUSH.

Drawdown Indicators

	PCL	PUSH	Difference
Max Drawdown Largest peak-to-trough decline	-5.14%	-0.85%	-4.29%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.50%	—
Current Drawdown Current decline from peak	-1.49%	0.00%	-1.49%
Average Drawdown Average peak-to-trough decline	-1.76%	-0.11%	-1.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.20%	—

Volatility

Volatility by Period

	PCL	PUSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.98%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.89%	1.52%	+6.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.89%	1.30%	+6.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.89%	1.30%	+6.59%

PCL vs. PUSH - Expense Ratio Comparison

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

PCL's dividend yield for the trailing twelve months is around 5.31%, more than PUSH's 3.23% yield.

Position	TTM	2025	2024
PCL PGIM Corporate Bond 10+ Year ETF	5.31%	2.52%	0.00%
PUSH PGIM Ultra Short Municipal Bond ETF	3.23%	3.45%	1.86%

Frequently Asked Questions

Can I hold both PCL and PUSH in my portfolio?

PCL and PUSH have a correlation of 0.20, 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 PUSH?

On fees, PUSH is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PCL or PUSH?

PUSH is cheaper with a 0.15% expense ratio, compared with 0.25% for PCL.

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

PCL has the higher dividend yield at 5.31%, compared with 3.23% for PUSH.

What is the main difference between PCL and PUSH?

PCL is categorized as Corporate Bonds, while PUSH is Municipal Bonds. Their fees differ too: 0.25% for PCL and 0.15% for PUSH.