DRAI vs. PCEF

Last updated Jun 23, 2026

DRAI (Draco Evolution AI ETF) and PCEF (Invesco CEF Income Composite ETF) are both Diversified Portfolio funds. DRAI is actively managed, while PCEF is passively managed. Over the past year, DRAI returned 37.40% vs 13.93% for PCEF. A 0.70 correlation means they provide meaningful diversification when combined. DRAI charges 1.50%/yr vs 2.71%/yr for PCEF.

Performance

DRAI vs. PCEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Draco Evolution AI ETF (DRAI) and Invesco CEF Income Composite ETF (PCEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DRAI achieves a 14.87% return, which is significantly higher than PCEF's 5.15% return.

DRAI

• 1D: -0.32%
• 1M: -1.11%
• YTD: 14.87%
• 6M: 13.70%
• 1Y: 37.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PCEF

• 1D: -0.29%
• 1M: 1.56%
• YTD: 5.15%
• 6M: 5.39%
• 1Y: 13.93%
• 3Y*: 13.40%
• 5Y*: 4.85%
• 10Y*: 7.33%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DRAI vs. PCEF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DRAI Draco Evolution AI ETF	14.87%	33.68%	-6.79%
PCEF Invesco CEF Income Composite ETF	5.15%	12.59%	5.56%

Correlation

The correlation between DRAI and PCEF is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024	0.70

The correlation between DRAI and PCEF has been stable across timeframes, ranging from 0.70 to 0.72 - a consistent structural relationship.

Return for Risk

DRAI vs. PCEF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DRAI

DRAI Risk / Return Rank: 81
DRAI Sharpe Ratio Rank: 81
DRAI Sortino Ratio Rank: 77
DRAI Omega Ratio Rank: 83
DRAI Calmar Ratio Rank: 89
DRAI Martin Ratio Rank: 74

PCEF

PCEF Risk / Return Rank: 45
PCEF Sharpe Ratio Rank: 47
PCEF Sortino Ratio Rank: 46
PCEF Omega Ratio Rank: 48
PCEF Calmar Ratio Rank: 35
PCEF Martin Ratio Rank: 48

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DRAI vs. PCEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Draco Evolution AI ETF (DRAI) and Invesco CEF Income Composite ETF (PCEF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DRAI	PCEF	Difference
Sharpe ratio: Return per unit of total volatility	2.49	1.57	+0.92
Sortino ratio: Return per unit of downside risk	3.26	2.25	+1.01
Omega ratio: Gain probability vs. loss probability	1.48	1.30	+0.18
Calmar ratio: Return relative to maximum drawdown	5.20	1.69	+3.52
Martin ratio: Return relative to average drawdown	13.51	7.79	+5.73

DRAI vs. PCEF - Sharpe Ratio Comparison

The current DRAI Sharpe Ratio is 2.49, which is higher than the PCEF Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of DRAI and PCEF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DRAI vs. PCEF - Drawdown Comparison

The maximum DRAI drawdown since its inception was -13.69%, smaller than the maximum PCEF drawdown of -38.64%. Use the drawdown chart below to compare losses from any high point for DRAI and PCEF.

Drawdown Indicators

	DRAI	PCEF	Difference
Max Drawdown Largest peak-to-trough decline	-13.69%	-38.64%	+24.95%
Max Drawdown (1Y) Largest decline over 1 year	-7.22%	-8.30%	+1.08%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.09%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.25%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.64%	—
Current Drawdown Current decline from peak	-3.55%	-0.58%	-2.97%
Average Drawdown Average peak-to-trough decline	-4.08%	-4.46%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	1.79%	+0.98%

Volatility

DRAI vs. PCEF - Volatility Comparison

Draco Evolution AI ETF (DRAI) has a higher volatility of 6.81% compared to Invesco CEF Income Composite ETF (PCEF) at 2.86%. This indicates that DRAI's price experiences larger fluctuations and is considered to be riskier than PCEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRAI	PCEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.81%	2.86%	+3.95%
Volatility (6M) Calculated over the trailing 6-month period	11.65%	7.55%	+4.10%
Volatility (1Y) Calculated over the trailing 1-year period	15.13%	8.92%	+6.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.18%	11.52%	+5.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.18%	13.31%	+3.87%

DRAI vs. PCEF - Expense Ratio Comparison

DRAI has a 1.50% expense ratio, which is lower than PCEF's 2.71% expense ratio.

Dividends

DRAI vs. PCEF - Dividend Comparison

DRAI's dividend yield for the trailing twelve months is around 1.34%, less than PCEF's 8.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DRAI Draco Evolution AI ETF	1.34%	1.48%	2.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PCEF Invesco CEF Income Composite ETF	8.36%	7.96%	8.79%	9.86%	8.93%	6.67%	7.54%	7.12%	8.21%	6.96%	7.72%	9.18%

Frequently Asked Questions

Can I hold both DRAI and PCEF in my portfolio?

DRAI and PCEF have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DRAI or PCEF?

DRAI has higher volatility (6.81%) compared to PCEF (2.86%). In terms of maximum drawdown, DRAI dropped -13.69% vs PCEF's -38.64%.

Which ETF is better, DRAI or PCEF?

On 1-year performance, DRAI leads with 37.40% vs 13.93% for PCEF. On fees, DRAI is cheaper at 1.50% per year. On volatility, PCEF has been the lower-risk option at 2.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DRAI or PCEF?

Over the 1-year period, DRAI has performed better with a 37.40% return vs 13.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DRAI or PCEF?

DRAI is cheaper with a 1.50% expense ratio, compared with 2.71% for PCEF.

Which ETF pays a higher dividend yield, DRAI or PCEF?

PCEF has the higher dividend yield at 8.36%, compared with 1.34% for DRAI.

What is the main difference between DRAI and PCEF?

They also come from different issuers: Draco Evolution and Invesco. Their fees differ too: 1.50% for DRAI and 2.71% for PCEF.

Which has better risk-adjusted returns?

DRAI currently has the higher Sharpe Ratio (2.49 vs 1.57), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.