PCS vs. PCL

Last updated Jul 11, 2026

PCS (PGIM Corporate Bond 0-5 Year ETF) and PCL (PGIM Corporate Bond 10+ Year ETF) are both Corporate Bonds funds from PGIM. Both are actively managed. A 0.77 correlation means they provide meaningful diversification when combined. PCS charges 0.20%/yr vs 0.25%/yr for PCL.

Performance

PCS vs. PCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Corporate Bond 0-5 Year ETF (PCS) and PGIM Corporate Bond 10+ Year ETF (PCL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCS achieves a 1.39% return, which is significantly higher than PCL's 0.10% return.

PCS

• 1D: -0.07%
• 1M: 0.03%
• 6M: 1.37%
• YTD: 1.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PCL

• 1D: -0.30%
• 1M: -1.79%
• 6M: -0.66%
• YTD: 0.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PCS vs. PCL - Yearly Performance Comparison

	2026 (YTD)	2025
PCS PGIM Corporate Bond 0-5 Year ETF	1.39%	2.22%
PCL PGIM Corporate Bond 10+ Year ETF	0.10%	2.51%

Correlation

The correlation between PCS and PCL is 0.77, 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 1, 2025	0.77

Return for Risk

PCS vs. PCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Corporate Bond 0-5 Year ETF (PCS) and PGIM Corporate Bond 10+ Year ETF (PCL). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

PCS vs. PCL - Drawdown Comparison

The maximum PCS drawdown since its inception was -1.12%, smaller than the maximum PCL drawdown of -5.14%. Use the drawdown chart below to compare losses from any high point for PCS and PCL.

Drawdown Indicators

	PCS	PCL	Difference
Max Drawdown Largest peak-to-trough decline	-1.12%	-5.14%	+4.02%
Current Drawdown Current decline from peak	-0.24%	-2.85%	+2.61%
Average Drawdown Average peak-to-trough decline	-0.13%	-1.70%	+1.57%

Volatility

Volatility by Period

	PCS	PCL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.59%	7.84%	-6.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.59%	7.84%	-6.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.59%	7.84%	-6.25%

PCS vs. PCL - Expense Ratio Comparison

PCS has a 0.20% expense ratio, which is lower than PCL's 0.25% expense ratio. Despite the difference, 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. PCL - Dividend Comparison

PCS's dividend yield for the trailing twelve months is around 4.38%, less than PCL's 5.86% yield.

Position	TTM	2025
PCL PGIM Corporate Bond 10+ Year ETF	5.86%	2.52%
PCS PGIM Corporate Bond 0-5 Year ETF	4.38%	1.92%

Frequently Asked Questions

Can I hold both PCS and PCL in my portfolio?

PCS and PCL have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PCS or PCL?

On fees, PCS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PCS or PCL?

PCS is cheaper with a 0.20% expense ratio, compared with 0.25% for PCL.

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

PCL has the higher dividend yield at 5.86%, compared with 4.38% for PCS.

What is the main difference between PCS and PCL?

Their fees differ too: 0.20% for PCS and 0.25% for PCL.