IQ
PCL
PGIM Corporate Bond 10+ Year ETF
Category BondsIssuer PGIMNet assets $72mFee 0.25%

PCL bid-ask spread and liquidity

See what PCL costs to trade and how closely it tracks its value.

·
Not scored

IQ Liquidity Score

· 2 of 6 measured · Nov 11, 2026
$7.50
one way, a $10,000 order
0 · Hard to trade100 · Trades like a giant

How easily this fund trades, from 0 to 100 on the same anchors for every fund; 100 is best. Method →

Cost to trade
0.15% median spread, 30 days to Nov 11, 2026
56.2
Capacity
Not measured · its holdings are bonds, which have no volume source here
·
Price fidelity
Not measured · no closing premium is held for this fund
·
Primary market
4 active dealers of 11; largest 40% of creations and redemptions, N-CEN to Aug 31, 2025
65.0
Bad-day behaviour
Not measured · no daily closing premium is held for this fund
·
Depth
Not measured · needs trade and quote data
·

Capacity: what its holdings can absorb in a day. Price fidelity: how close its price stays to NAV, the value of what it holds. Primary market: the dealers who create and redeem its shares. Bad-day behaviour: its premium on the market’s worst days. Depth: the dollars quoted at the bid and the ask. How to read the score →

PCL is not scored: its spread is not read, so it has no point on this chart. 340 scored Bonds ETFs are plotted for comparison, Nov 12, 2026.

Spread against score

PCL among Bonds ETFs

Cheaper to trade sits left, easier to trade sits up.

340 scored
Hard to tradeThinLiquid with careLiquidTrades like a giantNov 12, 2026

What a trade costs

One way, half its 30-day median spread; sizes above $10,000 are estimates
PCL: cost for your order at each size, one way
OrderDollarsPercentBasis
$1,000$0.750.075%spread
$10,000$7.500.075%spread
Spread 0.15%, the median over the 30 days to Nov 11, 2026. A round trip costs twice this. Above $10,000 it adds an estimate of price impact.
CapacityWhat the holdings can absorb a day

Not measured: its holdings are bonds, which have no volume source here.

Who makes the market

Authorized participants · N-CEN, the year to Aug 31, 2025
Active dealers
4
of 11 authorized
Largest
40%
of creations and redemptions
One dealer
No
4 active

4 of 11 authorized participants created or redeemed PCL shares in the year to Aug 31, 2025. From the fund’s Form N-CEN, filed Nov 13, 2025.

APs create and redeem shares. Every AP →

Active APs, largest first, by share of dollars created and redeemed: BofA Securities, Inc. (40.0%), Goldman Sachs & Co. LLC (20.0%), J.P. Morgan Securities LLC (20.0%), Morgan Stanley & Co. LLC (20.0%). 7 more were listed and created or redeemed nothing.

Where it trades

Q2 2026, 62 trading days
Odd lots, of exchange volume
58.2%

In Q2 2026, odd lots were 58.2% of PCL’s exchange volume.

Off exchange means wholesalers and dark pools. Odd lots are orders under 100 shares, a sign of retail trading.

How to place the order

To buy or to sell, up to $100,000
When
ETF spreads are usually widest in the first minutes after the open and the last before the close.
Why low volume does not mean illiquid →Limit orders vs market orders for ETFs →
Not measured yet: these need trade data
Spread through the day

Median spread by half hour, 30 days.

Buyers against sellers

Volume bought at the ask against volume sold at the bid.

Retail flow, estimated

Trades priced in fractions of a cent, a sign of retail orders.

Large trades

Trades above $500k: how many, and their share of volume.

Closing auction

Share of the day’s volume at the close.

Questions people ask

What is PCL’s bid-ask spread?

0.15% of the midpoint, the median over the 30 days to Nov 11, 2026, as its issuer states it.

Who is the AP for PCL?

PCL’s latest Form N-CEN, for the period ending Aug 31, 2025, lists 11 authorized participants (APs), and 4 created or redeemed shares. The largest were BofA Securities, Inc. (40.0%), Goldman Sachs & Co. LLC (20.0%), J.P. Morgan Securities LLC (20.0%) of the dollars its APs created and redeemed.

Who is the LMM for PCL?

PCL’s lead market maker (LMM) on Cboe BZX is Citadel Securities LLC. Lead market maker per Cboe BZX, as of Nov 9, 2026.

What does it cost to trade $10,000 of PCL?

About $7.50 one way, 0.075%: half its 30-day median spread. In and out costs twice that.
Where to next
ETF trading costs and liquidity→Cost-to-trade checker→Why low volume does not mean illiquidguide →Limit orders vs market orders for ETFsguide →How the IQ Liquidity Score is builtmethod →PCL fund page→
Sources and dates
SpreadPGIM (fund page), 30-day median · to Nov 11, 2026
DealersForm N-CEN · the year to Aug 31, 2025
Where it tradesSEC MIDAS · Q2 2026

The score measures trading conditions, not the fund. ETFIQ makes no recommendations.

Cite this pageCitation, APA and Markdown

ETFIQ, PCL trading: cost, capacity, premium and dealers, data as of Nov 11, 2026. https://etfiq.com/funds/pcl/trading/

Open data →

The score measures trading conditions, not the fund. ETFIQ makes no recommendations.