PFRL vs. IGHG
PFRL (PGIM Floating Rate Income ETF) and IGHG (ProShares Investment Grade-Interest Rate Hedged) are both exchange-traded funds - PFRL is a Bank Loan fund actively managed by PGIM, while IGHG is a Corporate Bonds fund tracking the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index. PFRL is actively managed, while IGHG is passively managed. Over the past 3 years, PFRL returned 7.95%/yr vs 7.47%/yr for IGHG. Their 0.30 correlation means their historical movements had little consistent relationship. PFRL charges 0.72%/yr vs 0.30%/yr for IGHG.
Performance
PFRL vs. IGHG - Performance Comparison
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Returns By Period
In the year-to-date period, PFRL achieves a 2.97% return, which is significantly higher than IGHG's 2.20% return.
PFRL
- 1D
- 0.05%
- 1M
- 0.42%
- 6M
- 3.01%
- YTD
- 2.97%
- 1Y
- 5.60%
- 3Y*
- 7.95%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.98%
IGHG
- 1D
- 0.17%
- 1M
- -0.05%
- 6M
- 1.60%
- YTD
- 2.20%
- 1Y
- 4.84%
- 3Y*
- 7.47%
- 5Y*
- 5.38%
- 10Y*
- 4.76%
- ALL TIME*
- 3.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.19M | $1.15M | $1.90M | |
| $887.82K | $834.06K | $677.61K |
PFRL vs. IGHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PFRL PGIM Floating Rate Income ETF | 2.97% | 6.25% | 9.40% | 13.75% | 1.27% |
IGHG ProShares Investment Grade-Interest Rate Hedged | 2.20% | 5.65% | 9.20% | 11.58% | 4.19% |
Correlation
The correlation between PFRL and IGHG is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.29 |
Correlation (All Time) Calculated using the full available price history since May 24, 2022 | 0.30 |
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Return for Risk
PFRL vs. IGHG — Risk / Return Rank
PFRL
IGHG
PFRL vs. IGHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Floating Rate Income ETF (PFRL) and ProShares Investment Grade-Interest Rate Hedged (IGHG). 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.
| PFRL | IGHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.40 | ||
| Sortino ratioReturn per unit of downside risk | +1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.26 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 4.40 | 2.66 | +1.74 |
| Martin ratioReturn relative to average drawdown | 14.96 | 9.17 | +5.79 |
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Drawdowns
PFRL vs. IGHG - Drawdown Comparison
The maximum PFRL drawdown since its inception was -8.83%, smaller than the maximum IGHG drawdown of -25.16%. Use the drawdown chart below to compare losses from any high point for PFRL and IGHG.
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Drawdown Indicators
| PFRL | IGHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.83% | -25.16% | +16.33% |
Max Drawdown (1Y)Largest decline over 1 year | -1.25% | -1.75% | +0.50% |
Max Drawdown (3Y)Largest decline over 3 years | -8.83% | -3.74% | -5.09% |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.75% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.16% | — |
Current DrawdownCurrent decline from peak | -0.27% | -0.17% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -0.42% | -2.27% | +1.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 0.51% | -0.14% |
Volatility
PFRL vs. IGHG - Volatility Comparison
PGIM Floating Rate Income ETF (PFRL) and ProShares Investment Grade-Interest Rate Hedged (IGHG) have volatilities of 0.57% and 0.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFRL | IGHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 0.58% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.61% | 2.06% | -0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.97% | 3.32% | -1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.78% | 4.99% | -0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.78% | 7.31% | -2.53% |
PFRL vs. IGHG - Expense Ratio Comparison
PFRL has a 0.72% expense ratio, which is higher than IGHG's 0.30% expense ratio.
Dividends
PFRL vs. IGHG - Dividend Comparison
PFRL's dividend yield for the trailing twelve months is around 7.15%, more than IGHG's 5.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | 4.67% | 5.14% | 5.06% | 4.99% | 3.55% | 2.50% | 2.79% | 3.48% | 4.13% | 3.36% | 3.37% | 3.65% |
PFRL PGIM Floating Rate Income ETF | 6.49% | 7.34% | 8.96% | 9.84% | 3.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PFRL and IGHG have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGHG has higher volatility (0.58%) compared to PFRL (0.57%). In terms of maximum drawdown, PFRL dropped -8.83% vs IGHG's -25.16%.
On 3-year performance, PFRL leads with 7.95% vs 7.47% for IGHG. On fees, IGHG is cheaper at 0.30% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PFRL has performed better with a 7.95% return vs 7.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGHG is cheaper with a 0.30% expense ratio, compared with 0.72% for PFRL.
PFRL has the higher dividend yield at 6.49%, compared with 4.67% for IGHG.
PFRL is categorized as Bank Loan, while IGHG is Corporate Bonds. They also come from different issuers: PGIM and ProShares. Their fees differ too: 0.72% for PFRL and 0.30% for IGHG.
PFRL currently has the higher Sharpe Ratio (2.81 vs 1.40), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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