PCY vs. VWOB
Compare and contrast key facts about Invesco Emerging Markets Sovereign Debt ETF (PCY) and Vanguard Emerging Markets Government Bond ETF (VWOB).
PCY and VWOB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PCY is a passively managed fund by Invesco that tracks the performance of the DB Emerging Market USD Liquid Balanced Index. It was launched on Oct 11, 2007. VWOB is a passively managed fund by Vanguard that tracks the performance of the Barclays USD Emerging Markets Government RIC Capped Index. It was launched on May 31, 2013. Both PCY and VWOB 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: PCY or VWOB.
Key characteristics
| PCY | VWOB | |
|---|---|---|
| YTD Return | 4.84% | 6.05% |
| 1Y Return | 16.48% | 13.74% |
| 3Y Return (Ann) | -2.29% | -0.82% |
| 5Y Return (Ann) | -1.16% | 0.62% |
| 10Y Return (Ann) | 2.05% | 2.85% |
| Sharpe Ratio | 1.85 | 2.15 |
| Sortino Ratio | 2.69 | 3.19 |
| Omega Ratio | 1.32 | 1.39 |
| Calmar Ratio | 0.80 | 0.93 |
| Martin Ratio | 9.24 | 11.64 |
| Ulcer Index | 2.07% | 1.36% |
| Daily Std Dev | 10.29% | 7.37% |
| Max Drawdown | -49.14% | -26.97% |
| Current Drawdown | -10.69% | -5.14% |
Correlation
The correlation between PCY and VWOB is 0.87, 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
PCY vs. VWOB - Performance Comparison
In the year-to-date period, PCY achieves a 4.84% return, which is significantly lower than VWOB's 6.05% return. Over the past 10 years, PCY has underperformed VWOB with an annualized return of 2.05%, while VWOB has yielded a comparatively higher 2.85% 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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PCY vs. VWOB - Expense Ratio Comparison
PCY has a 0.50% expense ratio, which is higher than VWOB's 0.20% expense ratio.
Risk-Adjusted Performance
PCY vs. VWOB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Emerging Markets Sovereign Debt ETF (PCY) and Vanguard Emerging Markets Government Bond ETF (VWOB). 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
PCY vs. VWOB - Dividend Comparison
PCY's dividend yield for the trailing twelve months is around 6.53%, more than VWOB's 5.86% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCY Invesco Emerging Markets Sovereign Debt ETF | 6.53% | 6.48% | 6.81% | 4.80% | 4.45% | 4.79% | 4.93% | 4.80% | 5.20% | 5.46% | 4.58% | 4.69% |
VWOB Vanguard Emerging Markets Government Bond ETF | 5.86% | 5.50% | 5.31% | 4.04% | 4.18% | 4.58% | 4.53% | 4.61% | 4.71% | 4.93% | 4.49% | 2.39% |
Drawdowns
PCY vs. VWOB - Drawdown Comparison
The maximum PCY drawdown since its inception was -49.14%, which is greater than VWOB's maximum drawdown of -26.97%. Use the drawdown chart below to compare losses from any high point for PCY and VWOB. For additional features, visit the drawdowns tool.
Volatility
PCY vs. VWOB - Volatility Comparison
Invesco Emerging Markets Sovereign Debt ETF (PCY) has a higher volatility of 3.17% compared to Vanguard Emerging Markets Government Bond ETF (VWOB) at 2.07%. This indicates that PCY's price experiences larger fluctuations and is considered to be riskier than VWOB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.