PCEF
Invesco CEF Income Composite ETF

Price: $24.34
Change: $0.03 (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 $18.39
  • 52 Week Hi $24.45
  • AUM $956.1 M
  • Shares 39.4 M

Historical Trading Data

  • 1 Month Avg. Volume 154,209
  • 3 Month Avg. Volume 144,838

Alternative ETFs in the ETF Database Total Bond Market Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest BKAG 0.00% $189.0 M 36,232 -1.91%
Largest (AUM) AGG 0.04% $88.7 B 5 M -2.16%
Most Liquid (Volume) AGG 0.04% $88.7 B 5 M -2.16%
Top YTD Performer RDFI 2.37% $68.4 M 18,392 13.95%

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% $292.4 M 15,962 10.99%
Largest (AUM) SWAN 0.49% $879.6 M 134,585 7.11%
Most Liquid (Volume) TAIL 0.59% $334.3 M 228,874 -12.01%
Top YTD Performer CVY 1.00% $130.5 M 7,714 27.00%

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 128 1467 77
% of Assets in Top 10 24.09% 36.20% 68.50%
% of Assets in Top 15 32.78% 41.28% 73.72%
% of Assets in Top 50 70.16% 59.62% 87.42%

Size Comparison

PCEF ETF Database Category Average FactSet Segment Average
Large (>12.9B) 0.00% 0.00% 2.95%
Mid (>2.7B) 3.99% 0.04% 2.19%
Small (>600M) 55.96% 0.61% 3.63%
Micro (<600M) 40.05% 0.44% 1.23%

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
0.47
FactSet Segment Average
P/E Ratio
16.56

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 $ 0.17
Dividend Date 2021-10-18 N/A N/A
Annual Dividend Rate $ 1.63 $ 0.98 $ 0.56
Annual Dividend Yield 6.69% 2.07% 1.94%

PCEF Price and Volume Chart

PCEF Fund Flows

View charts featuring ETF fund flow data.

5 Day Net Flows: 8.48 M 1 Month Net Flows: 12.8 M 3 Month Net Flows: 26.56 M 6 Month Net Flows: 75.24 M 1 Year Net Flows: 84.27 M 3 Year Net Flows: 169.97 M 5 Year Net Flows: 249.51 M 10 Year Net Flows: 719.67 M

PCEF Price vs Flows AUM Influence

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
0.43%
FactSet Segment Average
Expense Ratio
0.98%

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
5.96/10
ESG Score
40.22%
Global Percentile
12.12%
Peer Percentile
    • Revenue Exposure to Environmental Impact (%)
      Higher is better, no ESG score impact
    • Severe Environment Controversies (%)
      Lower improves ESG score
    • Sustainable Impact Solutions (%)
      1.84%
      Higher is better, no ESG score impact
    • Weighted Average Carbon Intensity (Tons of CO2e / $M Sales)
      297.59
      Higher is worse, no ESG score impact
    • Fossil Fuel Reserves (%)
      Higher is worse, no ESG score impact
    • High Impact Fossil Fuel Reserves (%)
      Higher is worse, no ESG score impact
    • Water Stress High Risk Business Segment (%)
      Lower improves ESG score
    • Water Stress High Risk Geography (%)
      Lower improves ESG score
    • Water Stress Exposure Moderate (%)
      Lower improves ESG score
    • Water Stress Exposure High (%)
      Lower improves ESG score
    • Water Stress Exposure Low (%)
      Higher improves ESG score
    • Revenue Exposure to Energy Efficiency (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Alternative Energy (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Green Building (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Pollution Prevention (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Water Sustainability (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Social Impact (%)
      Higher is better, no ESG score impact
    • Sustainable Impact Solutions (%)
      1.84%
      Higher is better, no ESG score impact
    • SRI Exclusion Criteria (%)
      4.51%
      Higher is worse, no ESG score impact
    • Revenue Exposure to Affordable Real Estate (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Education (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Major Disease Treatment (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Nutrition (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Sanitation (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to SME Finance (%)
      Higher is better, no ESG score impact
    • Human Rights Norms Violation (%)
      Higher is worse, no ESG score impact
    • Human Rights Norms Violation OR Watch List (%)
      Higher is worse, no ESG score impact
    • Severe Human Rights Controversies (%)
      Lower improves ESG score
    • Labor Norms Violation (%)
      Higher is worse, no ESG score impact
    • Labor Norms Violation OR Watch List (%)
      Higher is worse, no ESG score impact
    • Severe Labor Controversies (%)
      Lower improves ESG score
    • Severe Customer Controversies (%)
      Lower improves ESG score
    • Global Compact Compliance Violation (%)
      Higher is worse, no ESG score impact
    • Global Compact Compliance Violation OR Watch List (%)
      Higher is worse, no ESG score impact
    • Catholic Values Fail (%)
      Higher is worse, no ESG score impact
    • Islamic Non-Compliant (%)
      Higher is worse, no ESG score impact
    • Adult Entertainment Involvement (%)
      Higher is worse, no ESG score impact
    • Alcohol Involvement (%)
      Higher is worse, no ESG score impact
    • Gambling Involvement (%)
      Higher is worse, no ESG score impact
    • Nuclear Power Involvement (%)
      Higher is worse, no ESG score impact
    • Tobacco Involvement (%)
      Higher is worse, no ESG score impact
    • Weapons Involvement (%)
      Higher is worse, no ESG score impact
    • Controversies Weapons Involvement (%)
      Higher is worse, no ESG score impact
    • Civilian Firearms Involvement (%)
      Higher is worse, no ESG score impact
    • Civilian Firearms Retailer (%)
      Higher is worse, no ESG score impact
    • Civilian Firearms Producer (%)
      Higher is worse, no ESG score impact
    • Direct Predatory Lending Involvement (%)
      Higher is worse, no ESG score impact
    • Genetic Engineering Involvement (%)
      Higher is worse, no ESG score impact
    • Severe Governance Controversies (%)
      Lower improves ESG score
    • Board Flag (%)
      Lower improves ESG score
    • Lack of Independent Board Majority (%)
      Lower improves ESG score
    • Board Independence (0-25%) (%)
      Lower improves ESG score
    • Board Independence (25-50%) (%)
      Lower improves ESG score
    • Board Independence (50-75%) (%)
      Higher improves ESG score
    • Board Independence (75-100%) (%)
      Higher improves ESG score
    • No Female Directors (%)
      Lower improves ESG score
    • Three OR More Female Directors (%)
      Higher improves ESG score
    • Females Represent 30% of Directors (%)
      Higher improves ESG score
    • Entrenched Board (%)
      Lower improves ESG score
    • Overboarding (%)
      Lower improves ESG score
    • Negative Director Votes (%)
      Lower improves ESG score
    • Ownership AND Control Flag (%)
      Lower improves ESG score
    • One Share One Vote (%)
      Lower improves ESG score
    • No Annual Director Elections (%)
      Lower improves ESG score
    • Does Not Use Majority Voting (%)
      Lower improves ESG score
    • Significant Votes Against Pay Practices (%)
      Lower improves ESG score
    • Controlling Shareholder (%)
      Lower improves ESG score
    • Controlling Shareholder Concerns (%)
      Lower improves ESG score
    • Cross Shareholdings (%)
      Lower improves ESG score
    • Poison Pill (%)
      Lower improves ESG score
    • Pay Flag (%)
      Lower improves ESG score
    • No Pay Performance Link (%)
      Lower improves ESG score
    • Lack of Internal Pay Equity (%)
      Lower improves ESG score
    • Executive Pay Non-Disclosure (%)
      Lower improves ESG score
    • Accounting Flag (%)
      Lower improves ESG score

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 1.33% -1.12% 1.20%
3 Month Return 2.40% -0.73% 1.27%
YTD Return 14.87% -0.55% 7.28%
1 Year Return 27.76% 0.68% 12.76%
3 Year Return 39.82% 10.66% 10.11%
5 Year Return 58.31% 7.37% 8.38%

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 99.12%
Consumer Services 0.54%
Other 0.3%
CASH 0.0%
Market Cap Percentage
Small 55.96%
Micro 40.05%
Mid 3.99%
Large 0.0%
Region Percentage
North, Central and South America 99.66%
Other 0.3%
Region Percentage
Country Percentage
United States 99.66%
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%

PCEF Technicals

Volatility Analysis

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

5 Day Volatility
201.19%
Rank
1 of 90

20 Day Volatility
6.94%
Rank
6 of 90

50 Day Volatility
7.09%
Rank
4 of 90

200 Day Volatility
6.74%
Rank
4 of 90

Beta
0.78
Rank
2 of 90

Standard Deviation
1.59%
Rank
5 of 88

Technicals

  • 20 Day MA $24.01
  • 60 Day MA $24.14
  • MACD 15 Period 0.30
  • MACD 100 Period 0.33
  • Williams % Range 10 Day 7.15
  • Williams % Range 20 Day 4.65
  • RSI 10 Day 69
  • RSI 20 Day 59
  • RSI 30 Day 57
  • Ultimate Oscillator 60

Bollinger Bands

  • Lower Bollinger (10 Day) $23.88
  • Upper Bollinger (10 Day) $24.40
  • Lower Bollinger (20 Day) $23.65
  • Upper Bollinger (20 Day) $24.37
  • Lower Bollinger (30 Day) $23.67
  • Upper Bollinger (30 Day) $24.47

Support & Resistance

  • Support Level 1 $24.31
  • Support Level 2 $24.28
  • Resistance Level 1 $24.37
  • Resistance Level 2 $24.40

Stochastic

  • Stochastic Oscillator %D (1 Day) 57.39
  • Stochastic Oscillator %D (5 Day) 84.47
  • Stochastic Oscillator %K (1 Day) 55.89
  • Stochastic Oscillator %K (5 Day) 79.12

Financial Advisor Report

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 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.

Data Lineage

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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.

Disclosures

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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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