PCS vs SPSB: Grades, Fees and Holdings Compared

PGIM Corporate Bond 0-5 Year ETF

PCSCCboe

State Street SPDR Portfolio Short Term Corporate Bond ETF

SPSBANYSE Arca

Overlap

No data

Expense ratio

SPSB −0.16pt a year

PCS0.20%SPSB0.04%

Avg volume · 30D

SPSB 270.3×the volume

PCS18.6KSPSB5.03M

PCS vs SPSB Performance

Nov 7, 2025 – Nov 9, 2026

+2.5%PCS+2.8%SPSB

Expense ratio: PCS 0.20%; SPSB 0.04%, better
Fund size: PCS $710M; SPSB $11.1B
1Y total return: PCS +2.5%; SPSB +2.8%, better
Yield (12M): PCS 4.36%; SPSB 4.37%, better
Holdings: PCS 343; SPSB 1699
Avg volume (30D): PCS 18.6K sh; SPSB 5.03M sh, better
NAV per share: PCS $49.39; SPSB $29.71
52W range

ETF.net Grade

Pillar letters and Scores for PCS, SPSB, with each pillar’s weight
Pillar	PCS	SPSB
Cost30% weight	D26	A93Higher
Mission25% weight	A71Higher	A70
Risk15% weight	C47	B62Higher
Tradability15% weight	D34	A95Higher
Holdings10% weight	D37	A73Higher
Durability5% weight	D33	A83Higher

Rank among Investment Grade Corporate (0-5 Year) funds

How we build Categories ›

Same Category. PCS and SPSB are both graded against the same 23 Investment Grade Corporate (0-5 Year) funds, so their Grades compare head to head.

Investment Grade Corporate (0-5 Year)⁠

Category · 23 funds

See all 23 ›

SPSB ranks 1st and PCS 11th of 23 funds in the Investment Grade Corporate (0-5 Year) Category.

Rank 1ASPSBState Street SPDR Portfolio Short Term Corporate Bond ETFScore 80
Rank 2AIGSBiShares 1-5 Year Investment Grade Corporate Bond ETFScore 79
Rank 10CCGSDCapital Group Short Duration Income ETFScore 46
Rank 11CPCSPGIM Corporate Bond 0-5 Year ETFScore 42
Rank 12DFLTBFidelity Limited Term Bond ETFScore 40

Our read on each fund

ETF.net Research

PCSCPGIM Corporate Bond 0-5 Year ETF

SPSBAState Street SPDR Portfolio Short Term Corporate Bond ETF

In short

PCS No data

SPSB The short end of the corporate bond market, bought wholesale: roughly 1,600 investment-grade corporate bonds maturing in one to three years, for four basis points. Built as a cash-adjacent building block, not a yield swing.

Stated mandate

PCS No data

SPSB The fund seeks to track the price and yield performance of the Bloomberg U.S. 1-3 Year Corporate Bond Index before fees and expenses.

Why people hold it

PCS No data

SPSB Costs 0.04% a year against a 0.19% median for investment-grade corporate bond funds. At the short end, where yields are thin, that gap is a real slice of what you keep.
Nothing in the index matures past three years, so rate moves push the price around less than they do at intermediate corporate funds like SPIB or VCIT.ssga.com
Roughly 1,600 bonds, market-cap weighted, reconstituted at each month end, with a $300 million minimum issue size. Income arrives monthly.ssga.com
Trading since 2009 and now a multi-billion-dollar fund that changes hands actively, one of the sturdier implementations in its peer group.

Worth knowing

PCS No data

SPSB Pure corporate credit, no Treasury ballast. Investment-grade paper still reprices when spreads widen, short maturities or not.ssga.com
Bonds roll off fast and get replaced at whatever the market pays, so the income stream follows prevailing rates in both directions.ssga.com
The manager samples the index rather than buying every bond in it, so the portfolio can drift modestly from the benchmark.sec.gov

Full PCS profile⁠

Full SPSB profile⁠

PCS vs SPSB Holdings

How PCS and SPSB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile91.7%
Sector3 Sectors94.9%
Asset classBonds100%

Sector

Sector weights in PCS and SPSB, widest gap first
Sector	Gap	PCS	SPSB
Government	PCS +5.1 points	5.1%	0.0%
Corporate	SPSB +5.1 points	94.9%	100.0%
Securitized	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in PCS and SPSB, widest gap first
Country	Gap	PCS	SPSB
United States	PCS +5.1 points	88.9%	83.8%
United Kingdom	SPSB +1.9 points	2.9%	4.8%
Canada	SPSB +1.6 points	2.8%	4.4%
Norway	PCS +1.2 points	1.2%	0.0%
France	PCS +1.1 points	1.4%	0.3%
Japan	SPSB +0.9 points	1.5%	2.4%
Spain	SPSB +0.8 points	0.0%	0.8%
Ireland	SPSB +0.6 points	0.1%	0.7%
Other countries (13)	SPSB +1.5 points	1.3%	2.8%

Concentration

Weight in the 10 largest Holdings

PCS15.0%
SPSB4.5%

Securities held

PCS267
SPSB1,661

Asset class

PCS: Bonds
SPSB: Bonds

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. PCS holds 267 securities, SPSB 1,661.

All 308 PCS holdings⁠All 1,716 SPSB 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.

PCS vs SPSB Cost

Overpaying PCS vs SPSB

$3,306

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

PCS 0.20%
$4,155
SPSB 0.04%
$849

Amount$10,000

Years30 years

Cost over time

PCS 0.20%
SPSB 0.04%
Overpaying

Year by year

Year	PCS	SPSB	Overpaying
10	$365	$73	$292
20	$1,421	$288	$1,133
30	$4,155	$849	$3,306

Expense ratio

0.20%PCS
0.04%SPSB, cheaper

SPSB0.04%PCS0.20%

0.03%0.51%

Middle half of Investment Grade Corporate (0-5 Year) funds
Median 0.15%

SPSB 3rd cheapest of 23 funds

PCS 17th cheapest of 23 funds

PCS vs SPSB Dividends

Last 12 months to Nov 9, 2026

Yield (12M): PCS 4.36%; SPSB 4.37%, better
Payout (12M): PCS $2.16; SPSB $1.30
Last payment: PCS $0.19; SPSB $0.11
Ex-dividend: PCS Oct 30, 2026; SPSB Nov 2, 2026
Paid on: PCS Nov 3, 2026; SPSB Nov 5, 2026
Frequency: PCS Monthly; SPSB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

PCSMonthly · 15 paymentsAll PCS payments⁠

SPSBMonthly · 46 paymentsAll SPSB payments⁠

PCS vs SPSB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: PCS 1.9%since Sep 2025SPSB 1.7%
Return per unit of riskSharpe ratio, 3 years: PCS −0.60since Sep 2025SPSB 0.43
Worst fallMax drawdown, 5 years: PCS −1.2%since Aug 2025SPSB −5.7%
Market sensitivityBeta, 5 years: PCS 0.06SPSB 0.25; Market = 1

PCS and SPSB in the news

All news⁠

Bonds & Rates
The 2-year yield rose 13 basis points after the Fed hike. Long Treasuries still gained
Sep 19, 2026SPSB
Bonds & Rates
Extending from bills stopped paying after the 2-year yield rose 26 basis points
Sep 12, 2026SPSB

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PCS vs SPSB

In short

Stated mandate

Why people hold it

Worth knowing

How PCS and SPSB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The 2-year yield rose 13 basis points after the Fed hike. Long Treasuries still gained

Extending from bills stopped paying after the 2-year yield rose 26 basis points

How PCS and SPSB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings