PCEF vs. UTF
PCEF (Invesco CEF Income Composite ETF) is Diversified Portfolio fund tracking the S-Network Composite Closed-End Fund Index, while UTF (Cohen & Steers Infrastructure Fund, Inc) is a stock. Over the past 10 years, PCEF returned 7.03%/yr vs 11.49%/yr for UTF. Their 0.56 correlation means they have sometimes moved together and sometimes differently.
Performance
PCEF vs. UTF - Performance Comparison
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Returns By Period
In the year-to-date period, PCEF achieves a 5.32% return, which is significantly lower than UTF's 20.28% return. Over the past 10 years, PCEF has underperformed UTF with an annualized return of 7.03%, while UTF has yielded a comparatively higher 11.49% annualized return.
PCEF
- 1D
- 0.53%
- 1M
- -0.78%
- 6M
- 3.44%
- YTD
- 5.32%
- 1Y
- 10.52%
- 3Y*
- 12.11%
- 5Y*
- 4.63%
- 10Y*
- 7.03%
- ALL TIME*
- 6.89%
UTF
- 1D
- -0.11%
- 1M
- 1.47%
- 6M
- 11.47%
- YTD
- 20.28%
- 1Y
- 14.01%
- 3Y*
- 15.30%
- 5Y*
- 7.78%
- 10Y*
- 11.49%
- ALL TIME*
- 11.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.77M | $2.55M | $2.69M | |
| $6.45M | $6.34M | $7.48M |
PCEF vs. UTF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCEF Invesco CEF Income Composite ETF | 5.32% | 12.59% | 16.70% | 9.39% | -18.66% | 15.38% | 4.61% | 24.08% | -8.88% | 14.48% |
UTF Cohen & Steers Infrastructure Fund, Inc | 20.28% | 9.93% | 22.37% | -3.83% | -9.60% | 17.91% | 6.93% | 42.74% | -9.87% | 34.10% |
Correlation
The correlation between PCEF and UTF is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.49 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.50 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2010 | 0.56 |
Over the past year, the correlation between PCEF and UTF has dropped to 0.30 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.
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Return for Risk
PCEF vs. UTF — Risk / Return Rank
PCEF
UTF
PCEF vs. UTF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CEF Income Composite ETF (PCEF) and Cohen & Steers Infrastructure Fund, Inc (UTF). 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 | UTF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.20 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 1.41 | -0.18 |
| Martin ratioReturn relative to average drawdown | 5.53 | 2.88 | +2.66 |
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Drawdowns
PCEF vs. UTF - Drawdown Comparison
The maximum PCEF drawdown since its inception was -38.64%, smaller than the maximum UTF drawdown of -72.62%. Use the drawdown chart below to compare losses from any high point for PCEF and UTF.
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Drawdown Indicators
| PCEF | UTF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.64% | -72.62% | +33.98% |
Max Drawdown (1Y)Largest decline over 1 year | -8.30% | -10.33% | +2.03% |
Max Drawdown (3Y)Largest decline over 3 years | -14.09% | -19.00% | +4.91% |
Max Drawdown (5Y)Largest decline over 5 years | -24.25% | -30.28% | +6.03% |
Max Drawdown (10Y)Largest decline over 10 years | -38.64% | -52.53% | +13.89% |
Current DrawdownCurrent decline from peak | -1.24% | -1.00% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -4.44% | -10.30% | +5.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.83% | 5.05% | -3.22% |
Volatility
PCEF vs. UTF - Volatility Comparison
The current volatility for Invesco CEF Income Composite ETF (PCEF) is 2.43%, while Cohen & Steers Infrastructure Fund, Inc (UTF) has a volatility of 2.59%. This indicates that PCEF experiences smaller price fluctuations and is considered to be less risky than UTF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCEF | UTF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.43% | 2.59% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 7.84% | 7.98% | -0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.23% | 12.46% | -3.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.54% | 18.20% | -6.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.30% | 23.30% | -10.00% |
Dividends
PCEF vs. UTF - Dividend Comparison
PCEF's dividend yield for the trailing twelve months is around 7.67%, more than UTF's 6.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCEF Invesco CEF Income Composite ETF | 7.67% | 7.96% | 8.79% | 9.86% | 8.93% | 6.67% | 7.54% | 7.12% | 8.21% | 6.96% | 7.72% | 9.18% |
UTF Cohen & Steers Infrastructure Fund, Inc | 6.82% | 7.62% | 7.74% | 8.76% | 7.75% | 6.53% | 7.20% | 7.10% | 10.12% | 7.37% | 10.51% | 8.39% |
Frequently Asked Questions
PCEF and UTF have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTF has higher volatility (2.59%) compared to PCEF (2.43%). In terms of maximum drawdown, PCEF dropped -38.64% vs UTF's -72.62%.
UTF currently has the higher Sharpe Ratio (1.17 vs 1.10), 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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