PCEF vs. VOO
Compare and contrast key facts about Invesco CEF Income Composite ETF (PCEF) and Vanguard S&P 500 ETF (VOO).
PCEF and VOO 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. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010. Both PCEF and VOO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PCEF or VOO.
Key characteristics
| PCEF | VOO | |
|---|---|---|
| YTD Return | 17.64% | 26.88% |
| 1Y Return | 26.86% | 37.59% |
| 3Y Return (Ann) | 1.39% | 10.23% |
| 5Y Return (Ann) | 5.49% | 15.93% |
| 10Y Return (Ann) | 6.01% | 13.41% |
| Sharpe Ratio | 3.25 | 3.06 |
| Sortino Ratio | 4.46 | 4.08 |
| Omega Ratio | 1.66 | 1.58 |
| Calmar Ratio | 1.50 | 4.43 |
| Martin Ratio | 20.62 | 20.25 |
| Ulcer Index | 1.30% | 1.85% |
| Daily Std Dev | 8.27% | 12.23% |
| Max Drawdown | -38.64% | -33.99% |
| Current Drawdown | -0.81% | -0.30% |
Correlation
The correlation between PCEF and VOO is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
PCEF vs. VOO - Performance Comparison
In the year-to-date period, PCEF achieves a 17.64% return, which is significantly lower than VOO's 26.88% return. Over the past 10 years, PCEF has underperformed VOO with an annualized return of 6.01%, while VOO has yielded a comparatively higher 13.41% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PCEF vs. VOO - Expense Ratio Comparison
PCEF has a 2.34% expense ratio, which is higher than VOO's 0.03% expense ratio.
Risk-Adjusted Performance
PCEF vs. VOO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CEF Income Composite ETF (PCEF) and Vanguard S&P 500 ETF (VOO). 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.
Dividends
PCEF vs. VOO - Dividend Comparison
PCEF's dividend yield for the trailing twelve months is around 8.58%, more than VOO's 1.23% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCEF Invesco CEF Income Composite ETF | 8.58% | 9.85% | 8.93% | 6.67% | 7.55% | 7.12% | 8.21% | 6.96% | 7.12% | 9.18% | 8.03% | 8.13% |
VOO Vanguard S&P 500 ETF | 1.23% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% | 1.85% | 1.84% |
Drawdowns
PCEF vs. VOO - Drawdown Comparison
The maximum PCEF drawdown since its inception was -38.64%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for PCEF and VOO. For additional features, visit the drawdowns tool.
Volatility
PCEF vs. VOO - Volatility Comparison
The current volatility for Invesco CEF Income Composite ETF (PCEF) is 2.11%, while Vanguard S&P 500 ETF (VOO) has a volatility of 3.89%. This indicates that PCEF experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.