Invesco International Corporate Bond ETF (PICB)

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Invesco International Corporate Bond ETF (PICB) is down 1.5% since the beginning of the year. PICB is currently trading at $23 per share. Investors who bought $1,000 worth of PICB shares 5 years ago would now be looking at an investment worth $889.

Invesco International Corporate Bond ETF (PICB) has returned -1.52% so far this year and 1.05% over the past 12 months. Over the last ten years, PICB has returned 0.58% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.

Based on dividend-adjusted daily data since Jun 3, 2010, PICB's average daily return is +0.01%, while the average monthly return is +0.20%. At this rate, an investment would double in approximately 28.9 years.

Historically, 56% of months were positive and 44% were negative. The best month was Nov 2022 with a return of +8.6%, while the worst month was Mar 2020 at -8.6%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 7 months.

On a daily basis, PICB closed higher 51% of trading days. The best single day was Mar 20, 2020 with a return of +4.2%, while the worst single day was Mar 18, 2020 at -8.7%.

Invesco International Corporate Bond ETF has an annualized alpha of 0.24%, beta of 0.16, and R2 of 0.08 versus S&P 500 Index. Calculated based on daily prices since June 03, 2010.

• This ETF participated in 59.19% of S&P 500 Index downside but only 32.05% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.16 may look defensive, but with R2 of 0.08 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
• R2 of 0.08 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

PICB has an expense ratio of 0.50%, placing it in the medium range.

PICB ranks 16 for risk / return — above 16% of ETFs peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.

Invesco International Corporate Bond ETF provided a 3.43% dividend yield over the last twelve months, with an annual payout of $0.79 per share. The fund has been increasing its distributions for 3 consecutive years.

The table displays the monthly dividend distributions for Invesco International Corporate Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Invesco International Corporate Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Invesco International Corporate Bond ETF was 37.10%, occurring on Sep 27, 2022. The portfolio has not yet recovered.

The current Invesco International Corporate Bond ETF drawdown is 12.62%.

The chart below shows the rolling one-month volatility.