PCEF vs. SVBAX
PCEF (Invesco CEF Income Composite ETF) and SVBAX (John Hancock Balanced Fund) are both Diversified Portfolio funds. Over the past 10 years, PCEF returned 7.05%/yr vs 9.99%/yr for SVBAX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. PCEF charges 2.71%/yr vs 1.03%/yr for SVBAX.
Performance
PCEF vs. SVBAX - Performance Comparison
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Returns By Period
In the year-to-date period, PCEF achieves a 6.59% return, which is significantly lower than SVBAX's 12.85% return. Over the past 10 years, PCEF has underperformed SVBAX with an annualized return of 7.05%, while SVBAX has yielded a comparatively higher 9.99% annualized return.
PCEF
- 1D
- -0.11%
- 1M
- -0.05%
- 6M
- 5.06%
- YTD
- 6.59%
- 1Y
- 11.12%
- 3Y*
- 13.06%
- 5Y*
- 4.70%
- 10Y*
- 7.05%
- ALL TIME*
- 6.96%
SVBAX
- 1D
- 1.11%
- 1M
- 2.02%
- 6M
- 11.11%
- YTD
- 12.85%
- 1Y
- 22.07%
- 3Y*
- 16.38%
- 5Y*
- 8.78%
- 10Y*
- 9.99%
- ALL TIME*
- 7.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.83M | $2.51M | $2.37M | |
| $0.00 | $0.00 | $0.00 |
PCEF vs. SVBAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCEF Invesco CEF Income Composite ETF | 6.59% | 12.59% | 16.70% | 9.39% | -18.66% | 15.38% | 4.61% | 24.08% | -8.88% | 14.48% |
SVBAX John Hancock Balanced Fund | 12.85% | 15.69% | 13.31% | 18.22% | -15.79% | 14.49% | 15.97% | 21.28% | -5.02% | 13.40% |
Correlation
The correlation between PCEF and SVBAX is 0.81, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.81 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2010 | 0.76 |
The correlation between PCEF and SVBAX has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.
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Return for Risk
PCEF vs. SVBAX — Risk / Return Rank
PCEF
SVBAX
PCEF vs. SVBAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CEF Income Composite ETF (PCEF) and John Hancock Balanced Fund (SVBAX). 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.
| PCEF | SVBAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.43 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 3.92 | -2.57 |
| Martin ratioReturn relative to average drawdown | 6.07 | 17.84 | -11.77 |
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Drawdowns
PCEF vs. SVBAX - Drawdown Comparison
The maximum PCEF drawdown since its inception was -38.64%, smaller than the maximum SVBAX drawdown of -40.81%. Use the drawdown chart below to compare losses from any high point for PCEF and SVBAX.
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Drawdown Indicators
| PCEF | SVBAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.64% | -40.81% | +2.17% |
Max Drawdown (1Y)Largest decline over 1 year | -8.30% | -5.57% | -2.73% |
Max Drawdown (3Y)Largest decline over 3 years | -14.09% | -12.06% | -2.03% |
Max Drawdown (5Y)Largest decline over 5 years | -24.25% | -20.53% | -3.72% |
Max Drawdown (10Y)Largest decline over 10 years | -38.64% | -21.00% | -17.64% |
Current DrawdownCurrent decline from peak | -0.11% | 0.00% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -4.44% | -5.21% | +0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.83% | 1.22% | +0.61% |
Volatility
PCEF vs. SVBAX - Volatility Comparison
The current volatility for Invesco CEF Income Composite ETF (PCEF) is 2.48%, while John Hancock Balanced Fund (SVBAX) has a volatility of 3.19%. This indicates that PCEF experiences smaller price fluctuations and is considered to be less risky than SVBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCEF | SVBAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.48% | 3.19% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 7.88% | 7.54% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.25% | 9.16% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.55% | 10.94% | +0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.31% | 10.83% | +2.48% |
PCEF vs. SVBAX - Expense Ratio Comparison
PCEF has a 2.71% expense ratio, which is higher than SVBAX's 1.03% expense ratio.
Dividends
PCEF vs. SVBAX - Dividend Comparison
PCEF's dividend yield for the trailing twelve months is around 7.58%, less than SVBAX's 11.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCEF Invesco CEF Income Composite ETF | 7.58% | 7.96% | 8.79% | 9.86% | 8.93% | 6.67% | 7.54% | 7.12% | 8.21% | 6.96% | 7.72% | 9.18% |
SVBAX John Hancock Balanced Fund | 11.11% | 12.45% | 3.72% | 1.48% | 1.60% | 2.73% | 1.60% | 2.19% | 8.06% | 3.51% | 1.70% | 4.57% |
Frequently Asked Questions
PCEF and SVBAX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SVBAX has higher volatility (3.19%) compared to PCEF (2.48%). In terms of maximum drawdown, PCEF dropped -38.64% vs SVBAX's -40.81%.
SVBAX currently has the higher Sharpe Ratio (2.39 vs 1.21), 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.
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