LKOR vs PCL: Grades, Fees and Holdings Compared

Northern Trust Credit-Scored US Long Corporate Bond ETF

LKORBCboe

PGIM Corporate Bond 10+ Year ETF

PCLCCboe

Overlap

No data

Expense ratio

LKOR −0.10pt a year

LKOR0.15%PCL0.25%

Avg volume · 30D

LKOR 1.7×the volume

LKOR4.75KPCL2.73K

LKOR vs PCL Performance

Nov 3, 2025 – Nov 3, 2026

−3.6%LKOR−3.3%PCL

Expense ratio: LKOR 0.15%, better; PCL 0.25%
Fund size: LKOR $25M; PCL $72M
1Y total return: LKOR −3.6%; PCL −3.3%, better
Yield (12M): LKOR 6.30%, better; PCL 6.15%
Holdings: LKOR 771; PCL 187
Avg volume (30D): LKOR 4.75K sh, better; PCL 2.73K sh
NAV per share: LKOR $39.05; PCL $46.68
52W range

ETF.net Grade

Pillar letters and Scores for LKOR, PCL, with each pillar’s weight
Pillar	LKOR	PCL
Cost30% weight	C47Higher	F14
Mission25% weight	A100	A100
Risk15% weight	C41	C45Higher
Tradability15% weight	D37Higher	D34
Holdings10% weight	C45Higher	F24
Durability5% weight	C52Higher	D34

Rank among Investment Grade Corporate (10+ Year) funds

How we build Categories ›

Same Category. LKOR and PCL are both graded against the same 7 Investment Grade Corporate (10+ Year) funds, so their Grades compare head to head.

Investment Grade Corporate (10+ Year)⁠

Category · 7 funds

See all 7 ›

LKOR ranks 5th and PCL 7th of 7 funds in the Investment Grade Corporate (10+ Year) Category.

Rank 4BZTENF/M 10-Year Investment Grade Corporate Bond EtfScore 58
Rank 5BLKORNorthern Trust Credit-Scored US Long Corporate Bond ETFScore 57
Rank 6CBBBLBondBloxx BBB Rated 10+ Year Corporate Bond ETFScore 50
Rank 7CPCLPGIM Corporate Bond 10+ Year ETFScore 44

Our read on each fund

ETF.net Research

LKORBNorthern Trust Credit-Scored US Long Corporate Bond ETF

PCLCPGIM Corporate Bond 10+ Year ETF

In short

LKOR Most long-corporate bond funds simply buy the market's biggest borrowers. LKOR scores issuers on quality and value first, then builds a 10-year-plus portfolio, for 0.15% net of a waiver through March 1, 2027.

PCL No data

Stated mandate

LKOR The Fund seeks to track, before fees and expenses, the Northern Trust US Long Corporate Bond Quality Value Index.

PCL No data

Why people hold it

LKOR Bonds get graded on issuer quality (solvency, profitability, management efficiency) and valuation, then optimized toward the best composite scores and rebuilt monthly.northerntrust.com
Hard eligibility rules: investment grade, ten-year-plus final maturity, $250 million minimum outstanding per bond. Roughly 800 holdings spread the single-name risk.northerntrust.com
0.15% net of a waiver through March 1, 2027 (0.16% gross) lands near the category's typical fee and matches screened peer ZTEN at 0.15%. Pays monthly.
No style drift. The portfolio holds what the name promises: long-dated US investment-grade corporates, tracked by representative sampling, no credit reaching, no overlays.flexshares.com

PCL No data

Worth knowing

LKOR Plain market-weighted rivals cost far less: VCLT at 0.03%, IGLB and SPLB at 0.04%. The credit screen carries the burden of justifying the gap.
A small fund that trades lightly. On any given order the bid-ask spread can cost you more than a year of the expense ratio.
Ten-year-plus maturities mean heavy interest-rate sensitivity. Prices move sharply when yields shift, and no quality score offsets that.northerntrust.com flexshares.com

PCL No data

Full LKOR profile⁠

Full PCL profile⁠

LKOR vs PCL Holdings

How LKOR and PCL differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile94.6%
Asset classFixed Income100%

Sector

No Sector split for LKOR.

Country, concentration and asset class

Country by domicile

Country weights in LKOR and PCL, widest gap first
Country	Gap	LKOR	PCL
Canada	PCL +2.2 points	2.3%	4.5%
United States	LKOR +2.0 points	91.8%	89.8%
United Kingdom	LKOR +1.6 points	2.1%	0.5%
Norway	PCL +1.2 points	0.0%	1.2%
Singapore	LKOR +0.8 points	0.8%	0.0%
Switzerland	PCL +0.6 points	0.0%	0.6%
Ireland	LKOR +0.5 points	0.5%	0.0%
Other countries (8)	PCL +0.8 points	2.5%	3.3%

Concentration

Weight in the 10 largest Holdings

LKOR10.8%
PCL23.2%

Securities held

LKOR670
PCL144

Asset class

LKOR: Fixed Income
PCL: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. LKOR holds 670 securities, PCL 144.

All 771 LKOR holdings⁠All PCL holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

LKOR vs PCL Cost

Overpaying PCL vs LKOR

$2,022

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

LKOR 0.15%
$3,137
PCL 0.25%
$5,159

Amount$10,000

Years30 years

Cost over time

LKOR 0.15%
PCL 0.25%
Overpaying

Year by year

Year	LKOR	PCL	Overpaying
10	$274	$455	$181
20	$1,071	$1,769	$698
30	$3,137	$5,159	$2,022

Expense ratio

0.15%LKOR, cheaper
0.25%PCL

LKOR0.15%PCL0.25%

0.03%0.25%

Middle half of Investment Grade Corporate (10+ Year) funds
Median 0.15%

LKOR 4th cheapest of 7 funds

PCL 7th cheapest of 7 funds

LKOR vs PCL Dividends

Last 12 months to Nov 3, 2026

Yield (12M): LKOR 6.30%, better; PCL 6.15%
Payout (12M): LKOR $2.46; PCL $2.86
Last payment: LKOR $0.25; PCL $0.23
Ex-dividend: LKOR Nov 2, 2026; PCL Oct 30, 2026
Paid on: LKOR Pays Nov 6, 2026; PCL Nov 3, 2026
Frequency: LKOR Monthly; PCL Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

LKORMonthly · 46 paymentsAll LKOR payments⁠

PCLMonthly · 15 paymentsAll PCL payments⁠

LKOR vs PCL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: LKOR 11.3%PCL 8.6%since Sep 2025
Return per unit of riskSharpe ratio, 3 years: LKOR 0.24PCL −0.43since Sep 2025
Worst fallMax drawdown, 5 years: LKOR −34.6%PCL −9.2%since Aug 2025
Market sensitivityBeta, 5 years: LKOR 1.94PCL 0.23; Market = 1

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