PCS vs. FLRN
PCS (PGIM Corporate Bond 0-5 Year ETF) and FLRN (State Street SPDR Bloomberg Investment Grade Floating Rate ETF) are both exchange-traded funds - PCS is a Corporate Bonds fund actively managed by PGIM, while FLRN is a Ultrashort Bond fund tracking the Bloomberg U.S. Dollar Floating Rate Note < 5 Years Index. PCS is actively managed, while FLRN is passively managed. At a 0.13 correlation, their price movements are largely independent. PCS charges 0.20%/yr vs 0.15%/yr for FLRN.
Performance
PCS vs. FLRN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PCS achieves a 1.51% return, which is significantly lower than FLRN's 2.28% return.
PCS
- 1D
- -0.03%
- 1M
- 0.08%
- 6M
- 1.45%
- YTD
- 1.51%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FLRN
- 1D
- 0.00%
- 1M
- 0.34%
- 6M
- 2.05%
- YTD
- 2.28%
- 1Y
- 4.55%
- 3Y*
- 5.53%
- 5Y*
- 4.27%
- 10Y*
- 3.04%
PCS vs. FLRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PCS PGIM Corporate Bond 0-5 Year ETF | 1.51% | 2.22% |
FLRN State Street SPDR Bloomberg Investment Grade Floating Rate ETF | 2.28% | 2.05% |
Correlation
The correlation between PCS and FLRN is 0.13, 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 | 0.13 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PCS vs. FLRN — Risk / Return Rank
PCS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FLRN
PCS vs. FLRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Corporate Bond 0-5 Year ETF (PCS) and State Street SPDR Bloomberg Investment Grade Floating Rate ETF (FLRN). 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 | FLRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 3.13 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 20.07 | — |
| Martin ratioReturn relative to average drawdown | — | 118.41 | — |
Loading charts...
Drawdowns
PCS vs. FLRN - Drawdown Comparison
The maximum PCS drawdown since its inception was -1.12%, smaller than the maximum FLRN drawdown of -14.64%. Use the drawdown chart below to compare losses from any high point for PCS and FLRN.
Loading charts...
Drawdown Indicators
| PCS | FLRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.12% | -14.64% | +13.52% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.23% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.43% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -2.16% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.64% | — |
Current DrawdownCurrent decline from peak | -0.13% | -0.03% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -0.13% | -1.81% | +1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.04% | — |
Volatility
PCS vs. FLRN - Volatility Comparison
Loading charts...
Volatility by Period
| PCS | FLRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.17% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.54% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.60% | 0.69% | +0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.60% | 1.69% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.60% | 4.20% | -2.60% |
PCS vs. FLRN - Expense Ratio Comparison
PCS has a 0.20% expense ratio, which is higher than FLRN'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. FLRN - Dividend Comparison
PCS's dividend yield for the trailing twelve months is around 4.38%, less than FLRN's 4.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRN State Street SPDR Bloomberg Investment Grade Floating Rate ETF | 4.45% | 4.89% | 5.67% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% |
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 FLRN have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLRN is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLRN is cheaper with a 0.15% expense ratio, compared with 0.20% for PCS.
FLRN has the higher dividend yield at 4.45%, compared with 4.38% for PCS.
PCS is categorized as Corporate Bonds, while FLRN is Ultrashort Bond. They also come from different issuers: PGIM and State Street. Their fees differ too: 0.20% for PCS and 0.15% for FLRN.
Find the right allocation for PCS and FLRN
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer