PCEF vs. AFIF
Compare and contrast key facts about Invesco CEF Income Composite ETF (PCEF) and Anfield Universal Fixed Income ETF (AFIF).
PCEF and AFIF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PCEF is a passively managed fund by Invesco that tracks the performance of the S-Network Composite Closed-End Fund Index. It was launched on Feb 19, 2010. AFIF is an actively managed fund by Regents Park Funds. It was launched on Sep 18, 2018.
Performance
PCEF vs. AFIF - Performance Comparison
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PCEF vs. AFIF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PCEF Invesco CEF Income Composite ETF | -3.43% | 12.59% | 16.70% | 9.39% | -18.66% | 15.38% | 4.61% | 24.08% | -9.61% |
AFIF Anfield Universal Fixed Income ETF | -0.17% | 6.56% | 7.06% | 9.73% | -5.38% | -0.50% | 2.14% | 0.41% | -0.27% |
Returns By Period
In the year-to-date period, PCEF achieves a -3.43% return, which is significantly lower than AFIF's -0.17% return.
PCEF
- 1D
- 2.51%
- 1M
- -5.48%
- YTD
- -3.43%
- 6M
- -1.94%
- 1Y
- 8.22%
- 3Y*
- 10.45%
- 5Y*
- 4.22%
- 10Y*
- 6.84%
AFIF
- 1D
- 0.27%
- 1M
- -1.20%
- YTD
- -0.17%
- 6M
- 1.51%
- 1Y
- 4.93%
- 3Y*
- 7.22%
- 5Y*
- 3.28%
- 10Y*
- —
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PCEF vs. AFIF - Expense Ratio Comparison
PCEF has a 2.71% expense ratio, which is higher than AFIF's 1.08% expense ratio.
Return for Risk
PCEF vs. AFIF — Risk / Return Rank
PCEF
AFIF
PCEF vs. AFIF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CEF Income Composite ETF (PCEF) and Anfield Universal Fixed Income ETF (AFIF). 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.
| PCEF | AFIF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.61 | 1.40 | -0.79 |
Sortino ratioReturn per unit of downside risk | 0.89 | 1.94 | -1.05 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.31 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 0.77 | 2.73 | -1.96 |
Martin ratioReturn relative to average drawdown | 3.65 | 11.45 | -7.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PCEF | AFIF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.61 | 1.40 | -0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.74 | -0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.40 | +0.14 |
Correlation
The correlation between PCEF and AFIF is 0.14, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PCEF vs. AFIF - Dividend Comparison
PCEF's dividend yield for the trailing twelve months is around 8.32%, more than AFIF's 3.70% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCEF Invesco CEF Income Composite ETF | 8.32% | 7.96% | 8.79% | 9.86% | 8.93% | 6.67% | 7.54% | 7.12% | 8.21% | 6.96% | 7.72% | 9.18% |
AFIF Anfield Universal Fixed Income ETF | 3.70% | 3.52% | 5.61% | 5.91% | 3.49% | 1.73% | 1.25% | 2.54% | 0.69% | 0.00% | 0.00% | 0.00% |
Drawdowns
PCEF vs. AFIF - Drawdown Comparison
The maximum PCEF drawdown since its inception was -38.64%, which is greater than AFIF's maximum drawdown of -10.29%. Use the drawdown chart below to compare losses from any high point for PCEF and AFIF.
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Drawdown Indicators
| PCEF | AFIF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.64% | -10.29% | -28.35% |
Max Drawdown (1Y)Largest decline over 1 year | -10.94% | -1.79% | -9.15% |
Max Drawdown (5Y)Largest decline over 5 years | -24.25% | -8.85% | -15.40% |
Max Drawdown (10Y)Largest decline over 10 years | -38.64% | — | — |
Current DrawdownCurrent decline from peak | -6.00% | -1.25% | -4.75% |
Average DrawdownAverage peak-to-trough decline | -4.51% | -2.27% | -2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.30% | 0.43% | +1.87% |
Volatility
PCEF vs. AFIF - Volatility Comparison
Invesco CEF Income Composite ETF (PCEF) has a higher volatility of 5.03% compared to Anfield Universal Fixed Income ETF (AFIF) at 1.25%. This indicates that PCEF's price experiences larger fluctuations and is considered to be riskier than AFIF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCEF | AFIF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.03% | 1.25% | +3.78% |
Volatility (6M)Calculated over the trailing 6-month period | 7.05% | 2.12% | +4.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.49% | 3.53% | +9.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.42% | 4.48% | +6.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.25% | 6.32% | +6.93% |