PCEF vs. NSTLX
Compare and contrast key facts about Invesco CEF Income Composite ETF (PCEF) and Neuberger Berman Strategic Income Fund (NSTLX).
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. NSTLX is managed by Neuberger Berman. It was launched on Jul 10, 2003.
Performance
PCEF vs. NSTLX - Performance Comparison
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PCEF vs. NSTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCEF Invesco CEF Income Composite ETF | -3.43% | 12.59% | 16.70% | 9.39% | -18.66% | 15.38% | 4.61% | 24.08% | -8.88% | 14.48% |
NSTLX Neuberger Berman Strategic Income Fund | -1.42% | 9.44% | 6.02% | 10.07% | -11.81% | 2.94% | 7.78% | 10.55% | -2.34% | 7.00% |
Returns By Period
In the year-to-date period, PCEF achieves a -3.43% return, which is significantly lower than NSTLX's -1.42% return. Over the past 10 years, PCEF has outperformed NSTLX with an annualized return of 6.84%, while NSTLX has yielded a comparatively lower 4.05% annualized 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%
NSTLX
- 1D
- 0.30%
- 1M
- -3.01%
- YTD
- -1.42%
- 6M
- -0.08%
- 1Y
- 5.29%
- 3Y*
- 6.63%
- 5Y*
- 2.68%
- 10Y*
- 4.05%
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PCEF vs. NSTLX - Expense Ratio Comparison
PCEF has a 2.71% expense ratio, which is higher than NSTLX's 0.59% expense ratio.
Return for Risk
PCEF vs. NSTLX — Risk / Return Rank
PCEF
NSTLX
PCEF vs. NSTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CEF Income Composite ETF (PCEF) and Neuberger Berman Strategic Income Fund (NSTLX). 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 | NSTLX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.61 | 1.61 | -1.00 |
Sortino ratioReturn per unit of downside risk | 0.89 | 2.34 | -1.45 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.31 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | 0.77 | 1.78 | -1.02 |
Martin ratioReturn relative to average drawdown | 3.65 | 7.74 | -4.09 |
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 | NSTLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.61 | 1.61 | -1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.54 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 0.82 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.86 | -0.33 |
Correlation
The correlation between PCEF and NSTLX is 0.37, 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. NSTLX - Dividend Comparison
PCEF's dividend yield for the trailing twelve months is around 8.32%, more than NSTLX's 5.13% 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% |
NSTLX Neuberger Berman Strategic Income Fund | 5.13% | 5.46% | 5.31% | 5.38% | 3.92% | 6.29% | 3.81% | 4.02% | 4.33% | 3.64% | 3.54% | 4.09% |
Drawdowns
PCEF vs. NSTLX - Drawdown Comparison
The maximum PCEF drawdown since its inception was -38.64%, which is greater than NSTLX's maximum drawdown of -19.00%. Use the drawdown chart below to compare losses from any high point for PCEF and NSTLX.
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Drawdown Indicators
| PCEF | NSTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.64% | -19.00% | -19.64% |
Max Drawdown (1Y)Largest decline over 1 year | -10.94% | -3.30% | -7.64% |
Max Drawdown (5Y)Largest decline over 5 years | -24.25% | -16.65% | -7.60% |
Max Drawdown (10Y)Largest decline over 10 years | -38.64% | -19.00% | -19.64% |
Current DrawdownCurrent decline from peak | -6.00% | -3.01% | -2.99% |
Average DrawdownAverage peak-to-trough decline | -4.51% | -2.71% | -1.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.30% | 0.76% | +1.54% |
Volatility
PCEF vs. NSTLX - Volatility Comparison
Invesco CEF Income Composite ETF (PCEF) has a higher volatility of 5.03% compared to Neuberger Berman Strategic Income Fund (NSTLX) at 1.55%. This indicates that PCEF's price experiences larger fluctuations and is considered to be riskier than NSTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCEF | NSTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.03% | 1.55% | +3.48% |
Volatility (6M)Calculated over the trailing 6-month period | 7.05% | 2.32% | +4.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.49% | 3.62% | +9.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.42% | 5.01% | +6.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.25% | 4.96% | +8.29% |