VBCF vs. PCL

Last updated Jul 12, 2026

VBCF (Vanguard Target Maturity 2032 Corporate Bond ETF) and PCL (PGIM Corporate Bond 10+ Year ETF) are both Corporate Bonds funds. VBCF is passively managed, while PCL is actively managed. Their correlation of 0.85 suggests significant overlap in exposure. VBCF charges 0.08%/yr vs 0.25%/yr for PCL.

Performance

VBCF vs. PCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Target Maturity 2032 Corporate Bond ETF (VBCF) and PGIM Corporate Bond 10+ Year ETF (PCL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

VBCF

• 1D: -0.20%
• 1M: -0.28%
• 6M: —
• YTD: —
• 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)

VBCF vs. PCL - Yearly Performance Comparison

	2026 (YTD)
VBCF Vanguard Target Maturity 2032 Corporate Bond ETF	1.27%
PCL PGIM Corporate Bond 10+ Year ETF	0.88%

Correlation

The correlation between VBCF and PCL is 0.85, 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	0.85

Return for Risk

VBCF vs. PCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Maturity 2032 Corporate Bond ETF (VBCF) 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

VBCF vs. PCL - Drawdown Comparison

The maximum VBCF drawdown since its inception was -1.86%, smaller than the maximum PCL drawdown of -5.14%. Use the drawdown chart below to compare losses from any high point for VBCF and PCL.

Drawdown Indicators

	VBCF	PCL	Difference
Max Drawdown Largest peak-to-trough decline	-1.86%	-5.14%	+3.28%
Current Drawdown Current decline from peak	-0.87%	-2.85%	+1.98%
Average Drawdown Average peak-to-trough decline	-0.60%	-1.70%	+1.10%

Volatility

Volatility by Period

	VBCF	PCL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.26%	7.84%	-3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.26%	7.84%	-3.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.26%	7.84%	-3.58%

VBCF vs. PCL - Expense Ratio Comparison

VBCF 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

VBCF vs. PCL - Dividend Comparison

VBCF's dividend yield for the trailing twelve months is around 0.89%, less than PCL's 5.86% yield.

Position	TTM	2025
PCL PGIM Corporate Bond 10+ Year ETF	5.86%	2.52%
VBCF Vanguard Target Maturity 2032 Corporate Bond ETF	0.89%	0.00%

Frequently Asked Questions

Can I hold both VBCF and PCL in my portfolio?

VBCF and PCL have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VBCF or PCL?

On fees, VBCF 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, VBCF or PCL?

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

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

PCL has the higher dividend yield at 5.86%, compared with 0.89% for VBCF.

What is the main difference between VBCF and PCL?

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