PCEF
Invesco CEF Income Composite ETF

Price: $23.26
Change: $0.08 (-0.0%)
Category: Total Bond Market
Last Updated:

Vitals

Issuer Invesco
Brand Invesco
Structure ETF
Expense Ratio 2.34%
ETF Home Page Home page
Inception Feb 19, 2010

Analyst Report

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.

ETF Database Themes

Asset Class Multi-Asset
Asset Class Size Multi-Cap
Asset Class Style Blend
Region (General) North America
Region (Specific) U.S.

FactSet Classifications

  • Segment Asset Allocation: Global Target Outcome
  • Category Asset Allocation
  • Focus Target Outcome
  • Niche Income
  • Strategy Multi-factor
  • Weighting Scheme Multi-Factor

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $20.86
  • 52 Week Hi $24.34
  • AUM $937.5 M
  • Shares 40.1 M

Historical Trading Data

  • 1 Month Avg. Volume 175,818
  • 3 Month Avg. Volume 163,292

Alternative ETFs in the ETF Database Total Bond Market Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest BKAG 0.00% $240.3 M 39,339 -2.04%
Largest (AUM) AGG 0.04% $90.4 B 7 M -2.01%
Most Liquid (Volume) AGG 0.04% $90.4 B 7 M -2.01%
Top YTD Performer SEIX 0.57% $52.8 M 8,863 0.16%

Alternative ETFs in the FactSet Asset Allocation: Global Target Outcome Segment

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest GAL 0.35% $282.6 M 13,920 -2.65%
Largest (AUM) TDSC 0.69% $850.5 M 123,756 -6.11%
Most Liquid (Volume) YYY 2.45% $419.5 M 182,784 -3.01%
Top YTD Performer GYLD 0.75% $37.1 M 6,300 1.15%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

PCEF ETF Database Category Average FactSet Segment Average
Number of Holdings 122 1480 34
% of Assets in Top 10 27.25% 34.91% 73.90%
% of Assets in Top 15 35.88% 39.87% 80.69%
% of Assets in Top 50 73.47% 58.32% 93.16%

Size Comparison

PCEF ETF Database Category Average FactSet Segment Average
Large (>12.9B) 0.00% 0.00% 3.69%
Mid (>2.7B) 3.99% 0.04% 2.73%
Small (>600M) 55.96% 0.59% 4.54%
Micro (<600M) 40.05% 0.42% 1.53%

PCEF Valuation

This section compares the P/E ratio of this ETF to its peers.

PCEF
P/E Ratio
22.61
ETF Database Category Average
P/E Ratio
0.45
FactSet Segment Average
P/E Ratio
7.48

PCEF Dividend

This section compares the dividend yield of this ETF to its peers.

PCEF ETF Database Category Average FactSet Segment Average
Dividend $ 0.13 $ 0.07 $ 0.11
Dividend Date 2021-10-18 N/A N/A
Annual Dividend Rate $ 1.63 $ 1.00 $ 0.44
Annual Dividend Yield 6.64% 2.07% 1.67%

PCEF Price and Volume Charts

View charts featuring PCEF price and volume data.

PCEF Fund Flows Charts

View charts featuring ETF fund flow data.

5 Day Net Flows: 0 1 Month Net Flows: 16.21 M 3 Month Net Flows: 23.5 M 6 Month Net Flows: 45.7 M 1 Year Net Flows: 108.73 M 3 Year Net Flows: 176.93 M 5 Year Net Flows: 274.02 M 10 Year Net Flows: 742.3 M

PCEF Price vs Flows AUM Influence Charts

View charts that break down the influence that fund flows and price had on overall assets.

Realtime Rating

The 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.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity A- n/a
Expenses C n/a
Performance
Volatility
Dividend
Concentration

A+ Overall Rated ETF:

PCEF Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

PCEF
Expense Ratio
2.34%
ETF Database Category Average
Expense Ratio
0.41%
FactSet Segment Average
Expense Ratio
1.02%

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions Ordinary income
Distributes K1 No
ESG Themes and Scores

PCEF does not have an ESG score. There are no ESG themes that map to this ETF.

PCEF Performance

This section shows how this ETF has performed relative to its peers.

PCEF ETF Database
Category Average
Factset Segment
Average
1 Month Return -1.66% -1.68% -1.16%
3 Month Return -3.28% -1.35% -2.80%
YTD Return -3.80% -1.57% -2.97%
1 Year Return 9.95% -1.47% 3.37%
3 Year Return 36.13% 8.42% 8.55%
5 Year Return 47.97% 7.35% 9.28%

Geographic Exposure

The following charts reflect the geographic spread of PCEF's underlying holdings.

Holdings Analysis

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 99.59%
Consumer Services 0.54%
CASH -0.11%
Market Cap Percentage
Small 55.96%
Micro 40.05%
Mid 3.99%
Large 0.0%
Region Percentage
North, Central and South America 100.13%
Other -0.11%
Region Percentage
Country Percentage
United States 100.13%
Other -0.11%
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%

PCEF Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETF Database Category.

5 Day Volatility 220.29%
20 Day Volatility 9.30%
50 Day Volatility 8.54%
200 Day Volatility 7.74%
Beta 0.77
Standard Deviation 0.94%
5 Day Volatility
220.29%
Rank
1 of 95

20 Day Volatility
9.30%
Rank
3 of 94

50 Day Volatility
8.54%
Rank
5 of 94

200 Day Volatility
7.74%
Rank
5 of 92

Beta
0.77
Rank
1 of 92

Standard Deviation
0.94%
Rank
8 of 89

Technicals

  • 20 Day MA $23.89
  • 60 Day MA $23.90
  • MACD 15 Period -0.61
  • MACD 100 Period -0.63
  • Williams % Range 10 Day 97.74
  • Williams % Range 20 Day 97.98
  • RSI 10 Day 27
  • RSI 20 Day 37
  • RSI 30 Day 40
  • Ultimate Oscillator 32

Bollinger Bands

  • Lower Bollinger (10 Day) $23.33
  • Upper Bollinger (10 Day) $24.25
  • Lower Bollinger (20 Day) $23.45
  • Upper Bollinger (20 Day) $24.34
  • Lower Bollinger (30 Day) $23.34
  • Upper Bollinger (30 Day) $24.27

Support & Resistance

  • Support Level 1 $23.14
  • Support Level 2 $23.03
  • Resistance Level 1 $23.47
  • Resistance Level 2 $23.69

Stochastic

  • Stochastic Oscillator %D (1 Day) 18.66
  • Stochastic Oscillator %D (5 Day) 16.32
  • Stochastic Oscillator %K (1 Day) 33.18
  • Stochastic Oscillator %K (5 Day) 31.61

Tradability

  • Tracking Difference Median (%) n/a
  • Tracking Difference Max Upside (%) n/a
  • Tracking Difference Max Downside (%) n/a
  • Median Premium Discount (%) 0.10
  • Maximum Premium Discount (%) 1.96
  • Average Spread (%) 2.32
  • Average Spread ($) 2.32

Financial Advisor Report

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Fact Sheet

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.

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Analyst Report Authors

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.

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Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at https://www.msci.com/esg-fund-metrics.
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