PCS vs. FLOT
PCS (PGIM Corporate Bond 0-5 Year ETF) and FLOT (iShares Floating Rate Bond ETF) are both exchange-traded funds - PCS is a Corporate Bonds fund actively managed by PGIM, while FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years Index. PCS is actively managed, while FLOT is passively managed. At a 0.19 correlation, their price movements are largely independent. PCS charges 0.20%/yr vs 0.15%/yr for FLOT.
Performance
PCS vs. FLOT - Performance Comparison
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Returns By Period
In the year-to-date period, PCS achieves a 1.39% return, which is significantly lower than FLOT's 2.31% return.
PCS
- 1D
- -0.07%
- 1M
- 0.03%
- 6M
- 1.37%
- YTD
- 1.39%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FLOT
- 1D
- 0.02%
- 1M
- 0.34%
- 6M
- 2.19%
- YTD
- 2.31%
- 1Y
- 4.64%
- 3Y*
- 5.59%
- 5Y*
- 4.28%
- 10Y*
- 3.06%
PCS vs. FLOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PCS PGIM Corporate Bond 0-5 Year ETF | 1.39% | 2.22% |
FLOT iShares Floating Rate Bond ETF | 2.31% | 2.09% |
Correlation
The correlation between PCS and FLOT is 0.19, 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 1, 2025 | 0.19 |
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Return for Risk
PCS vs. FLOT — Risk / Return Rank
PCS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FLOT
PCS vs. FLOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Corporate Bond 0-5 Year ETF (PCS) and iShares Floating Rate Bond ETF (FLOT). 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.
| PCS | FLOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 3.08 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 10.88 | — |
| Martin ratioReturn relative to average drawdown | — | 100.63 | — |
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Drawdowns
PCS vs. FLOT - Drawdown Comparison
The maximum PCS drawdown since its inception was -1.12%, smaller than the maximum FLOT drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for PCS and FLOT.
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Drawdown Indicators
| PCS | FLOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.12% | -13.54% | +12.42% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.43% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.57% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -2.36% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.54% | — |
Current DrawdownCurrent decline from peak | -0.24% | 0.00% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -0.13% | -0.21% | +0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.05% | — |
Volatility
PCS vs. FLOT - Volatility Comparison
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Volatility by Period
| PCS | FLOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.16% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.63% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.59% | 0.75% | +0.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.59% | 1.77% | -0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.59% | 4.15% | -2.56% |
PCS vs. FLOT - Expense Ratio Comparison
PCS has a 0.20% expense ratio, which is higher than FLOT'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
PCS vs. FLOT - Dividend Comparison
PCS's dividend yield for the trailing twelve months is around 4.38%, less than FLOT's 4.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 4.47% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
PCS PGIM Corporate Bond 0-5 Year ETF | 4.38% | 1.92% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PCS and FLOT have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLOT is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLOT is cheaper with a 0.15% expense ratio, compared with 0.20% for PCS.
FLOT has the higher dividend yield at 4.47%, compared with 4.38% for PCS.
PCS is categorized as Corporate Bonds, while FLOT is Ultrashort Bond. They also come from different issuers: PGIM and iShares. Their fees differ too: 0.20% for PCS and 0.15% for FLOT.
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