PCL vs. USIG
PCL (PGIM Corporate Bond 10+ Year ETF) and USIG (iShares Broad USD Investment Grade Corporate Bond ETF) are both Corporate Bonds funds. PCL is actively managed, while USIG is passively managed. With a 0.96 correlation, they move nearly in lockstep. PCL charges 0.25%/yr vs 0.04%/yr for USIG.
Performance
PCL vs. USIG - Performance Comparison
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Returns By Period
In the year-to-date period, PCL achieves a 2.06% return, which is significantly higher than USIG's 0.83% return.
PCL
- 1D
- 0.18%
- 1M
- 1.57%
- YTD
- 2.06%
- 6M
- 1.90%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USIG
- 1D
- 0.12%
- 1M
- 0.78%
- YTD
- 0.83%
- 6M
- 0.89%
- 1Y
- 5.21%
- 3Y*
- 5.45%
- 5Y*
- 0.58%
- 10Y*
- 2.58%
PCL vs. USIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PCL PGIM Corporate Bond 10+ Year ETF | 2.06% | 2.51% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 0.83% | 3.33% |
Correlation
The correlation between PCL and USIG is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 1, 2025 | 0.96 |
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Return for Risk
PCL vs. USIG — Risk / Return Rank
PCL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
USIG
PCL vs. USIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Corporate Bond 10+ Year ETF (PCL) and iShares Broad USD Investment Grade Corporate Bond ETF (USIG). 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 | USIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.87 | — |
| Martin ratioReturn relative to average drawdown | — | 5.95 | — |
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Drawdowns
PCL vs. USIG - Drawdown Comparison
The maximum PCL drawdown since its inception was -5.14%, smaller than the maximum USIG drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for PCL and USIG.
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Drawdown Indicators
| PCL | USIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.14% | -22.21% | +17.07% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.79% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.10% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.45% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.45% | — |
Current DrawdownCurrent decline from peak | -0.91% | -0.70% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -1.73% | -3.41% | +1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.88% | — |
Volatility
PCL vs. USIG - Volatility Comparison
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Volatility by Period
| PCL | USIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.14% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.12% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.83% | 4.10% | +3.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.83% | 6.82% | +1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.83% | 6.83% | +1.00% |
PCL vs. USIG - Expense Ratio Comparison
PCL has a 0.25% expense ratio, which is higher than USIG's 0.04% 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. USIG - Dividend Comparison
PCL's dividend yield for the trailing twelve months is around 5.27%, more than USIG's 4.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCL PGIM Corporate Bond 10+ Year ETF | 5.27% | 2.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 4.73% | 4.62% | 4.51% | 3.94% | 3.14% | 2.33% | 2.82% | 3.37% | 3.44% | 3.03% | 2.87% | 3.24% |
Frequently Asked Questions
With a correlation of 0.96, PCL and USIG 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.
On fees, USIG is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USIG is cheaper with a 0.04% expense ratio, compared with 0.25% for PCL.
PCL has the higher dividend yield at 5.27%, compared with 4.73% for USIG.
They also come from different issuers: PGIM and iShares. Their fees differ too: 0.25% for PCL and 0.04% for USIG.
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