PGX vs. PCEF
Compare and contrast key facts about Invesco Preferred ETF (PGX) and Invesco CEF Income Composite ETF (PCEF).
PGX and PCEF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PGX is a passively managed fund by Invesco that tracks the performance of the BofA Merrill Lynch Core Fixed Rate Preferred Securities Index. It was launched on Jan 31, 2008. 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. Both PGX and PCEF 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: PGX or PCEF.
Correlation
The correlation between PGX and PCEF is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
PGX vs. PCEF - Performance Comparison
Key characteristics
PGX:
0.19
PCEF:
0.78
PGX:
0.34
PCEF:
1.10
PGX:
1.04
PCEF:
1.19
PGX:
0.14
PCEF:
0.75
PGX:
0.45
PCEF:
3.74
PGX:
4.14%
PCEF:
2.82%
PGX:
9.79%
PCEF:
13.50%
PGX:
-66.40%
PCEF:
-38.64%
PGX:
-10.13%
PCEF:
-5.99%
Returns By Period
In the year-to-date period, PGX achieves a -1.98% return, which is significantly lower than PCEF's -1.72% return. Over the past 10 years, PGX has underperformed PCEF with an annualized return of 2.76%, while PCEF has yielded a comparatively higher 5.46% annualized return.
PGX
-1.98%
-2.23%
-6.47%
3.03%
1.00%
2.76%
PCEF
-1.72%
-2.80%
-1.71%
11.46%
8.57%
5.46%
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PGX vs. PCEF - Expense Ratio Comparison
PGX has a 0.52% expense ratio, which is lower than PCEF's 2.34% expense ratio.
Risk-Adjusted Performance
PGX vs. PCEF — Risk-Adjusted Performance Rank
PGX
PCEF
PGX vs. PCEF - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Preferred ETF (PGX) and Invesco CEF Income Composite ETF (PCEF). 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
PGX vs. PCEF - Dividend Comparison
PGX's dividend yield for the trailing twelve months is around 6.18%, less than PCEF's 9.03% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGX Invesco Preferred ETF | 6.18% | 5.95% | 6.42% | 6.29% | 4.82% | 4.89% | 5.31% | 6.09% | 5.66% | 6.02% | 5.84% | 5.98% |
PCEF Invesco CEF Income Composite ETF | 9.03% | 8.79% | 9.86% | 8.93% | 6.67% | 7.54% | 7.12% | 8.21% | 6.96% | 7.72% | 9.18% | 8.02% |
Drawdowns
PGX vs. PCEF - Drawdown Comparison
The maximum PGX drawdown since its inception was -66.40%, which is greater than PCEF's maximum drawdown of -38.64%. Use the drawdown chart below to compare losses from any high point for PGX and PCEF. For additional features, visit the drawdowns tool.
Volatility
PGX vs. PCEF - Volatility Comparison
The current volatility for Invesco Preferred ETF (PGX) is 3.87%, while Invesco CEF Income Composite ETF (PCEF) has a volatility of 11.14%. This indicates that PGX experiences smaller price fluctuations and is considered to be less risky than PCEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.