PCEF vs. YYY
PCEF (Invesco CEF Income Composite ETF) and YYY (Amplify CEF High Income ETF) are both Diversified Portfolio funds - PCEF tracks the S-Network Composite Closed-End Fund Index while YYY tracks the Nasdaq CEF High Income™ Index. Both are passively managed. Over the past 10 years, PCEF returned 7.33%/yr vs 5.73%/yr for YYY. A 0.79 correlation means they provide meaningful diversification when combined. PCEF charges 2.71%/yr vs 3.23%/yr for YYY.
Performance
PCEF vs. YYY - Performance Comparison
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Returns By Period
In the year-to-date period, PCEF achieves a 5.15% return, which is significantly higher than YYY's 4.86% return. Over the past 10 years, PCEF has outperformed YYY with an annualized return of 7.33%, while YYY has yielded a comparatively lower 5.73% annualized return.
PCEF
- 1D
- -0.29%
- 1M
- 1.56%
- YTD
- 5.15%
- 6M
- 5.39%
- 1Y
- 13.93%
- 3Y*
- 13.40%
- 5Y*
- 4.85%
- 10Y*
- 7.33%
YYY
- 1D
- -0.15%
- 1M
- 0.02%
- YTD
- 4.86%
- 6M
- 4.67%
- 1Y
- 12.27%
- 3Y*
- 12.38%
- 5Y*
- 3.14%
- 10Y*
- 5.73%
PCEF vs. YYY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCEF Invesco CEF Income Composite ETF | 5.15% | 12.59% | 16.70% | 9.39% | -18.66% | 15.38% | 4.61% | 24.08% | -8.88% | 14.48% |
YYY Amplify CEF High Income ETF | 4.86% | 13.08% | 11.86% | 12.98% | -21.78% | 14.13% | -0.86% | 21.87% | -10.21% | 13.86% |
Correlation
The correlation between PCEF and YYY is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2012 | 0.79 |
The correlation between PCEF and YYY has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.
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Return for Risk
PCEF vs. YYY — Risk / Return Rank
PCEF
YYY
PCEF vs. YYY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CEF Income Composite ETF (PCEF) and Amplify CEF High Income ETF (YYY). 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 | YYY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.27 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 1.53 | +0.16 |
| Martin ratioReturn relative to average drawdown | 7.79 | 6.58 | +1.20 |
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Drawdowns
PCEF vs. YYY - Drawdown Comparison
The maximum PCEF drawdown since its inception was -38.64%, smaller than the maximum YYY drawdown of -42.52%. Use the drawdown chart below to compare losses from any high point for PCEF and YYY.
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Drawdown Indicators
| PCEF | YYY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.64% | -42.52% | +3.88% |
Max Drawdown (1Y)Largest decline over 1 year | -8.30% | -8.07% | -0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -14.09% | -13.47% | -0.62% |
Max Drawdown (5Y)Largest decline over 5 years | -24.25% | -27.92% | +3.67% |
Max Drawdown (10Y)Largest decline over 10 years | -38.64% | -42.52% | +3.88% |
Current DrawdownCurrent decline from peak | -0.58% | -0.93% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -4.46% | -6.82% | +2.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 1.87% | -0.08% |
Volatility
PCEF vs. YYY - Volatility Comparison
Invesco CEF Income Composite ETF (PCEF) has a higher volatility of 2.86% compared to Amplify CEF High Income ETF (YYY) at 2.55%. This indicates that PCEF's price experiences larger fluctuations and is considered to be riskier than YYY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCEF | YYY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 2.55% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 7.55% | 7.23% | +0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.92% | 8.71% | +0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.52% | 11.37% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.31% | 13.90% | -0.59% |
PCEF vs. YYY - Expense Ratio Comparison
PCEF has a 2.71% expense ratio, which is lower than YYY's 3.23% expense ratio.
Dividends
PCEF vs. YYY - Dividend Comparison
PCEF's dividend yield for the trailing twelve months is around 8.36%, less than YYY's 12.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCEF Invesco CEF Income Composite ETF | 8.36% | 7.96% | 8.79% | 9.86% | 8.93% | 6.67% | 7.54% | 7.12% | 8.21% | 6.96% | 7.72% | 9.18% |
YYY Amplify CEF High Income ETF | 12.57% | 12.51% | 12.50% | 12.39% | 12.36% | 9.08% | 9.79% | 9.10% | 9.73% | 8.16% | 10.34% | 10.77% |
Frequently Asked Questions
PCEF and YYY have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCEF has higher volatility (2.86%) compared to YYY (2.55%). In terms of maximum drawdown, PCEF dropped -38.64% vs YYY's -42.52%.
On 10-year performance, PCEF leads with 7.33% vs 5.73% for YYY. On fees, PCEF is cheaper at 2.71% per year. On volatility, YYY has been the lower-risk option at 2.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PCEF has performed better with a 7.33% return vs 5.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PCEF is cheaper with a 2.71% expense ratio, compared with 3.23% for YYY.
YYY has the higher dividend yield at 12.57%, compared with 8.36% for PCEF.
PCEF tracks S-Network Composite Closed-End Fund Index, while YYY tracks Nasdaq CEF High Income™ Index. They also come from different issuers: Invesco and Amplify. Their fees differ too: 2.71% for PCEF and 3.23% for YYY.
PCEF currently has the higher Sharpe Ratio (1.57 vs 1.42), 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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