VBCI vs. PCL

Last updated Aug 2, 2026

VBCI (Vanguard Target Maturity 2035 Corporate Bond ETF) and PCL (PGIM Corporate Bond 10+ Year ETF) are both Corporate Bonds funds. VBCI is passively managed, while PCL is actively managed. Their correlation of 0.94 means they have usually moved in the same direction. VBCI charges 0.08%/yr vs 0.25%/yr for PCL.

Performance

VBCI vs. PCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Target Maturity 2035 Corporate Bond ETF (VBCI) and PGIM Corporate Bond 10+ Year ETF (PCL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

VBCI

• 1D: -0.22%
• 1M: -1.75%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

PCL

• 1D: -0.42%
• 1M: -3.88%
• 6M: -2.70%
• YTD: -2.10%
• 1Y: 0.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PCL PGIM Corporate Bond 10+ Year ETF	$982.81K	$474.09K	$648.14K
VBCI Vanguard Target Maturity 2035 Corporate Bond ETF	$105.20K	$130.97K	$180.77K

VBCI vs. PCL - Yearly Performance Comparison

	2026 (YTD)
VBCI Vanguard Target Maturity 2035 Corporate Bond ETF	0.23%
PCL PGIM Corporate Bond 10+ Year ETF	-1.34%

Correlation

The correlation between VBCI and PCL is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 26, 2026	0.94

Return for Risk

VBCI vs. PCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Maturity 2035 Corporate Bond ETF (VBCI) 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

VBCI vs. PCL - Drawdown Comparison

The maximum VBCI drawdown since its inception was -2.24%, smaller than the maximum PCL drawdown of -5.14%. Use the drawdown chart below to compare losses from any high point for VBCI and PCL.

Drawdown Indicators

	VBCI	PCL	Difference
Max Drawdown Largest peak-to-trough decline	-2.24%	-5.14%	+2.90%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.14%	—
Current Drawdown Current decline from peak	-2.14%	-4.98%	+2.84%
Average Drawdown Average peak-to-trough decline	-0.79%	-1.83%	+1.04%

Volatility

Volatility by Period

	VBCI	PCL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	5.24%	7.82%	-2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.24%	7.82%	-2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.24%	7.82%	-2.58%

VBCI vs. PCL - Expense Ratio Comparison

VBCI 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

VBCI vs. PCL - Dividend Comparison

VBCI's dividend yield for the trailing twelve months is around 1.30%, less than PCL's 6.51% yield.

Position	TTM	2025
PCL PGIM Corporate Bond 10+ Year ETF	6.51%	2.52%
VBCI Vanguard Target Maturity 2035 Corporate Bond ETF	1.30%	0.00%

Frequently Asked Questions

Can I hold both VBCI and PCL in my portfolio?

With a correlation of 0.94, VBCI and PCL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, VBCI or PCL?

On fees, VBCI 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, VBCI or PCL?

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

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

PCL has the higher dividend yield at 6.51%, compared with 1.30% for VBCI.

What is the main difference between VBCI and PCL?

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