This ETF is one of the more unique offerings within the ETP lineup, offering exposure to a basket of closed-end funds that invest in various types of fixed income securities. Unlike ETFs, closed-end funds often trade at a premium or discount to their NAV, introducing both another risk factor and an opportunity to enhance current returns. By focusing on CEFs trading at a big discount to NAV, PCEF is able to sport an impressive distribution yield that may make this fund an intriguing option for those looking to beef up current returns. The juicy yields offered by this fund might make PCEF an appealing option to include within a long-term portfolio as a source of additional yield; this ETF may also be attractive for those looking to establish a shorter-term tactical tilt towards high yielding securities. One potential drawback is the relatively high expense ratio charged, and the layered exposure strategy results in multiple layers of fees on this product. Still, the yield offered by PCEF will be hard to find anywhere else.
| Segment | Asset Allocation: Global Target Outcome |
| Category | Asset Allocation |
| Focus | Target Outcome |
| Niche | Income |
| Strategy | Multi-factor |
| Weighting Scheme | Multi-Factor |
This section compares how balanced and deep this ETF is relative to its peers.
| PCEF | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Number of Holdings | 113 | 1483 | 54 |
| % of Assets in Top 10 | 27.51% | 35.45% | 76.99% |
| % of Assets in Top 15 | 38.11% | 39.65% | 83.16% |
| % of Assets in Top 50 | 76.03% | 56.19% | 96.21% |
| PCEF | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Large (>12.9B) | N/A | N/A | 0.11% |
| Mid (>2.7B) | N/A | N/A | 0.15% |
| Small (>600M) | N/A | N/A | 0.01% |
| Micro (<600M) | N/A | N/A | 0.00% |
This section compares the P/E ratio of this ETF to its peers.
This section compares the dividend yield of this ETF to its peers.
| PCEF | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Dividend | $ 0.13 | $ 0.18 | $ 1.06 |
| Dividend Date | 2025-05-19 | N/A | N/A |
| Annual Dividend Rate | $ 1.64 | $ 2.05 | $ 1.56 |
| Annual Dividend Yield | 8.52% | 4.91% | 4.88% |
View charts featuring PCEF price and volume data.
View charts featuring ETF fund flow data.
5 Day Net Flows: 764.72 K 1 Month Net Flows: 2.99 M 3 Month Net Flows: 2.87 M 6 Month Net Flows: -7.36 M 1 Year Net Flows: 27.59 M 3 Year Net Flows: 76 M 5 Year Net Flows: 110.68 M 10 Year Net Flows: 285.38 MView charts that break down the influence that fund flows and price had on overall assets.
5 Day Net AUM Change: 6.51 MThe adjacent table gives investors an individual Realtime Rating for PCEF on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETF Database Pro members, shows the ETF in the Total Bond Market with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.
This section compares the cost efficiency of this ETF to its peers.
| Max ST Capital Gains Rate | 39.60% |
| Max LT Capital Gains Rate | 20.00% |
| Tax On Distributions | Ordinary income |
| Distributes K1 | No |
PCEF does not have an ESG score. There are no ESG themes that map to this ETF.
This section shows how this ETF has performed relative to its peers. Returns over 1 year are annualized.
| PCEF |
ETF Database
Category Average |
Factset Segment
Average |
|
|---|---|---|---|
| 1 Month Return | 4.12% | 1.03% | 3.26% |
| 3 Month Return | 4.83% | 0.99% | 5.59% |
| YTD Return | 4.55% | 2.56% | 3.11% |
| 1 Year Return | 12.27% | 4.98% | 4.99% |
| 3 Year Return | 8.51% | 3.10% | 3.56% |
| 5 Year Return | 8.40% | 0.51% | 1.89% |
The following charts reflect the geographic spread of PCEF's underlying holdings.
The following charts reflect the allocation of PCEF's underlying holdings.
| Asset | Percentage |
|---|---|
| U.S. Listed Stocks | 99.93% |
| Cash | 0.07% |
| Sector | Percentage |
|---|---|
| Miscellaneous | 99.05% |
| Finance | 0.62% |
| Consumer Services | 0.37% |
| CASH | 0.0% |
| Market Cap | Percentage |
|---|---|
| Large | 0.0% |
| Mid | 0.0% |
| Small | 0.0% |
| Micro | 0.0% |
| Region | Percentage |
|---|---|
| North, Central and South America | 100.04% |
| Other | 0.0% |
| Region | Percentage |
|---|
| Country | Percentage |
|---|---|
| United States | 99.74% |
| Other | 0.3% |
| Credit | Percentage |
|---|---|
| AAA | 0.0% |
| AA | 0.0% |
| A | 0.0% |
| BBB | 0.0% |
| BB | 0.0% |
| B | 0.0% |
| Below B | 0.0% |
| Not Rated | 0.0% |
| Maturity | Percentage |
|---|---|
| Less Than 1 Year | 0.0% |
| 1-3 Years | 0.0% |
| 3-5 Years | 0.0% |
| 5-7 Years | 0.0% |
| 7-10 Years | 0.0% |
| 10-15 Years | 0.0% |
| 15-20 Years | 0.0% |
| 20-30 Years | 0.0% |
| 30+ Years | 0.0% |
| Maturity | Percentage |
|---|---|
| Less Than 1 Year | 0.0% |
| 1-3 Years | 0.0% |
| 3-5 Years | 0.0% |
| 5-7 Years | 0.0% |
| 7-10 Years | 0.0% |
| 10-15 Years | 0.0% |
| 15-20 Years | 0.0% |
| 20-30 Years | 0.0% |
| 30+ Years | 0.0% |
| Asset | Percentage |
|---|---|
| U.S. Listed Stocks | 99.93% |
| Cash | 0.07% |
This section shows how the volatility of this ETF compares to the peer group ETF Database Category.
| 5 Day Volatility | 84.21% |
| 20 Day Volatility | 6.80% |
| 50 Day Volatility | 25.14% |
| 200 Day Volatility | 18.67% |
| Beta | 0.8 |
| Standard Deviation | 0.62% |
ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.
Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.
On this week’s episode of “ETF of the Week,” Chuck Jaffe of “Money Life” discussed the Invesco...
Roxanna Islam of VettaFi dives into what’s driving a popular closed-end ETF on this week’s “ETF...
The Invesco CEF Income Composite ETF (PCEF ), the oldest and largest ETF of closed-end funds,...
ETF Trends and ETF Database , the preeminent digital platforms for ETF news, research, tools, video, webcasts, native content channels, and more. The ETF Trends and ETF Database brands have been trusted amongst advisors, institutional investors, and individual investors for a combined 25 years. The firms are uniquely positioned to aid advisor’s education, adoption, and usage of ETFs, as well as the asset management community’s transition from traditionally analog to digital interactions with the advisor community.
Our team at ETF Database is committed to making our website the premier source of information on ETF investing with the world’s highest quality ETF tools, content, and resources.
ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.
Copyright © 2025 FactSet Research Systems Inc. All rights reserved.
A long-running debate in asset allocation circles is how much of a portfolio an investor should...
In a digital age where information moves in milliseconds and millions of participants can transact...