PCEB vs. PCFI

Last updated Jul 24, 2026

PCEB (Polen Euro High Yield Bond ETF) and PCFI (Polen Floating Rate Income ETF) are both exchange-traded funds - PCEB is a European High Yield Bonds fund actively managed by Polen, while PCFI is a Bank Loan fund actively managed by Polen. Both are actively managed. At a correlation of -0.02, they often move in opposite directions. PCEB charges 0.55%/yr vs 0.49%/yr for PCFI.

Performance

PCEB vs. PCFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Polen Euro High Yield Bond ETF (PCEB) and Polen Floating Rate Income ETF (PCFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PCEB

• 1D: -0.70%
• 1M: -0.69%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

PCFI

• 1D: 0.04%
• 1M: 1.24%
• 6M: -0.06%
• YTD: 1.10%
• 1Y: -0.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.05%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PCEB Polen Euro High Yield Bond ETF	$314.23K	$333.19K	$518.02K
PCFI Polen Floating Rate Income ETF	$2.22K	$2.75K	$57.49K

PCEB vs. PCFI - Yearly Performance Comparison

	2026 (YTD)
PCEB Polen Euro High Yield Bond ETF	-2.99%
PCFI Polen Floating Rate Income ETF	-0.39%

Correlation

The correlation between PCEB and PCFI is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 6, 2026	-0.02

Return for Risk

PCEB vs. PCFI — Risk / Return Rank

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

PCEB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PCFI

PCFI Risk / Return Rank: 10
PCFI Sharpe Ratio Rank: 11
PCFI Sortino Ratio Rank: 10
PCFI Omega Ratio Rank: 10
PCFI Calmar Ratio Rank: 10
PCFI Martin Ratio Rank: 11

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.

PCEB vs. PCFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Polen Euro High Yield Bond ETF (PCEB) and Polen Floating Rate Income ETF (PCFI). 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.

	PCEB	PCFI	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.11	—
Sortino ratio: Return per unit of downside risk	—	-0.10	—
Omega ratio: Gain probability vs. loss probability	—	0.99	—
Calmar ratio: Return relative to maximum drawdown	—	-0.15	—
Martin ratio: Return relative to average drawdown	—	-0.27	—

Drawdowns

PCEB vs. PCFI - Drawdown Comparison

The maximum PCEB drawdown since its inception was -3.19%, smaller than the maximum PCFI drawdown of -4.01%. Use the drawdown chart below to compare losses from any high point for PCEB and PCFI.

Drawdown Indicators

	PCEB	PCFI	Difference
Max Drawdown Largest peak-to-trough decline	-3.19%	-4.01%	+0.82%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.01%	—
Current Drawdown Current decline from peak	-3.19%	-1.40%	-1.79%
Average Drawdown Average peak-to-trough decline	-1.65%	-1.76%	+0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.27%	—

Volatility

Volatility by Period

	PCEB	PCFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.25%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.29%	5.87%	+0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.29%	7.04%	-0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.29%	7.04%	-0.75%

PCEB vs. PCFI - Expense Ratio Comparison

PCEB has a 0.55% expense ratio, which is higher than PCFI's 0.49% expense ratio.

Dividends

PCEB vs. PCFI - Dividend Comparison

PCEB's dividend yield for the trailing twelve months is around 0.52%, less than PCFI's 9.57% yield.

Position	TTM	2025
PCEB Polen Euro High Yield Bond ETF	0.52%	0.00%
PCFI Polen Floating Rate Income ETF	9.57%	7.83%

Frequently Asked Questions

Can I hold both PCEB and PCFI in my portfolio?

PCEB and PCFI have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PCEB or PCFI?

On fees, PCFI is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PCEB or PCFI?

PCFI is cheaper with a 0.49% expense ratio, compared with 0.55% for PCEB.

Which ETF pays a higher dividend yield, PCEB or PCFI?

PCFI has the higher dividend yield at 9.57%, compared with 0.52% for PCEB.

What is the main difference between PCEB and PCFI?

PCEB is categorized as European High Yield Bonds, while PCFI is Bank Loan. Their fees differ too: 0.55% for PCEB and 0.49% for PCFI.