PCEF vs. ASET

Last updated Jun 4, 2026

PCEF (Invesco CEF Income Composite ETF) and ASET (FlexShares Real Assets Allocation Index Fund) are both Diversified Portfolio funds - PCEF tracks the S-Network Composite Closed-End Fund Index while ASET tracks the Northern Trust Real Assets Allocation Total Return. Both are passively managed. PCEF charges 2.71%/yr vs 0.57%/yr for ASET.

Performance

PCEF vs. ASET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco CEF Income Composite ETF (PCEF) and FlexShares Real Assets Allocation Index Fund (ASET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PCEF

• 1D: -0.74%
• 1M: 2.15%
• YTD: 4.88%
• 6M: 5.42%
• 1Y: 14.12%
• 3Y*: 13.61%
• 5Y*: 4.82%
• 10Y*: 7.33%

ASET

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PCEF vs. ASET - Yearly Performance Comparison

	2026 (YTD)
PCEF Invesco CEF Income Composite ETF	3.10%
ASET FlexShares Real Assets Allocation Index Fund	0.00%

PCEF vs. ASET - Sectors Allocation Comparison

Sectors	PCEF	ASET
Financial Services	37.2%	-
Technology	22.0%	0.2%
Communication Services	7.0%	12.1%
Healthcare	6.7%	2.2%
Industrials	6.5%	16.3%
Consumer Cyclical	6.0%	0.1%
Energy	4.2%	7.8%
Utilities	3.5%	12.8%
Consumer Defensive	3.2%	1.1%
Basic Materials	2.8%	5.8%
Real Estate	0.9%	41.6%

Return for Risk

PCEF vs. ASET — Risk / Return Rank

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

PCEF

PCEF Risk / Return Rank: 45
PCEF Sharpe Ratio Rank: 47
PCEF Sortino Ratio Rank: 47
PCEF Omega Ratio Rank: 49
PCEF Calmar Ratio Rank: 34
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.

PCEF vs. ASET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco CEF Income Composite ETF (PCEF) and FlexShares Real Assets Allocation Index Fund (ASET). 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	ASET	Difference
Sharpe ratio: Return per unit of total volatility	1.65	—	—
Sortino ratio: Return per unit of downside risk	2.36	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	1.71	—	—
Martin ratio: Return relative to average drawdown	8.00	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PCEF	ASET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	—	—

Drawdowns

PCEF vs. ASET - Drawdown Comparison

The maximum PCEF drawdown since its inception was -38.64%, which is greater than ASET's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for PCEF and ASET.

Drawdown Indicators

	PCEF	ASET	Difference
Max Drawdown Largest peak-to-trough decline	-38.64%	0.00%	-38.64%
Max Drawdown (1Y) Largest decline over 1 year	-8.30%	—	—
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	-0.74%	0.00%	-0.74%
Average Drawdown Average peak-to-trough decline	-4.47%	0.00%	-4.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	—	—

Volatility

Volatility by Period

	PCEF	ASET	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.30%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.61%	0.00%	+8.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.48%	0.00%	+11.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.29%	0.00%	+13.29%

PCEF vs. ASET - Expense Ratio Comparison

PCEF has a 2.71% expense ratio, which is higher than ASET's 0.57% expense ratio.

Dividends

PCEF vs. ASET - Dividend Comparison

PCEF's dividend yield for the trailing twelve months is around 7.73%, while ASET has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASET FlexShares Real Assets Allocation Index Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PCEF Invesco CEF Income Composite ETF	7.73%	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

Which ETF is better, PCEF or ASET?

On fees, ASET is cheaper at 0.57% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PCEF or ASET?

ASET is cheaper with a 0.57% expense ratio, compared with 2.71% for PCEF.

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

PCEF has the higher dividend yield at 7.73%, compared with 0.00% for ASET.

What is the main difference between PCEF and ASET?

PCEF tracks S-Network Composite Closed-End Fund Index, while ASET tracks Northern Trust Real Assets Allocation Total Return. They also come from different issuers: Invesco and Northern Trust. Their fees differ too: 2.71% for PCEF and 0.57% for ASET.