VBCE vs. PCL

Last updated Jun 26, 2026

VBCE (Vanguard Target Maturity 2031 Corporate Bond ETF) and PCL (PGIM Corporate Bond 10+ Year ETF) are both Corporate Bonds funds. VBCE is passively managed, while PCL is actively managed. Their correlation of 0.86 suggests significant overlap in exposure. VBCE charges 0.08%/yr vs 0.25%/yr for PCL.

Performance

VBCE vs. PCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Target Maturity 2031 Corporate Bond ETF (VBCE) and PGIM Corporate Bond 10+ Year ETF (PCL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

VBCE

• 1D: 0.11%
• 1M: 0.52%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PCL

• 1D: 0.03%
• 1M: 1.83%
• YTD: 2.77%
• 6M: 2.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VBCE vs. PCL - Yearly Performance Comparison

	2026 (YTD)
VBCE Vanguard Target Maturity 2031 Corporate Bond ETF	1.31%
PCL PGIM Corporate Bond 10+ Year ETF	3.57%

Correlation

The correlation between VBCE and PCL is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 26, 2026	0.86

Return for Risk

VBCE vs. PCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Maturity 2031 Corporate Bond ETF (VBCE) 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

VBCE vs. PCL - Drawdown Comparison

The maximum VBCE drawdown since its inception was -1.53%, smaller than the maximum PCL drawdown of -5.14%. Use the drawdown chart below to compare losses from any high point for VBCE and PCL.

Drawdown Indicators

	VBCE	PCL	Difference
Max Drawdown Largest peak-to-trough decline	-1.53%	-5.14%	+3.61%
Current Drawdown Current decline from peak	-0.21%	-0.22%	+0.01%
Average Drawdown Average peak-to-trough decline	-0.49%	-1.71%	+1.22%

Volatility

Volatility by Period

	VBCE	PCL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.82%	7.83%	-4.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.82%	7.83%	-4.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.82%	7.83%	-4.01%

VBCE vs. PCL - Expense Ratio Comparison

VBCE has a 0.08% 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

VBCE vs. PCL - Dividend Comparison

VBCE's dividend yield for the trailing twelve months is around 0.47%, less than PCL's 5.24% yield.

Position	TTM	2025
PCL PGIM Corporate Bond 10+ Year ETF	5.24%	2.52%
VBCE Vanguard Target Maturity 2031 Corporate Bond ETF	0.47%	0.00%

Frequently Asked Questions

Can I hold both VBCE and PCL in my portfolio?

VBCE and PCL have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VBCE or PCL?

On fees, VBCE is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VBCE or PCL?

VBCE is cheaper with a 0.08% expense ratio, compared with 0.25% for PCL.

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

PCL has the higher dividend yield at 5.24%, compared with 0.47% for VBCE.

What is the main difference between VBCE and PCL?

They also come from different issuers: Vanguard and PGIM. Their fees differ too: 0.08% for VBCE and 0.25% for PCL.