PICB vs. BSCR
PICB (Invesco International Corporate Bond ETF) and BSCR (Invesco BulletShares 2027 Corporate Bond ETF) are both Corporate Bonds funds from Invesco - PICB tracks the S&P International Corporate Bond Index while BSCR tracks the NASDAQ Bulletshares® USD Corporate Bond 2027 Index. Both are passively managed. Over the past 5 years, PICB returned -2.26%/yr vs 1.36%/yr for BSCR. At a 0.46 correlation, their price movements are largely independent. PICB charges 0.50%/yr vs 0.10%/yr for BSCR.
Performance
PICB vs. BSCR - Performance Comparison
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Returns By Period
In the year-to-date period, PICB achieves a -2.40% return, which is significantly lower than BSCR's 1.57% return.
PICB
- 1D
- -0.78%
- 1M
- -1.85%
- 6M
- -2.37%
- YTD
- -2.40%
- 1Y
- -0.60%
- 3Y*
- 4.11%
- 5Y*
- -2.26%
- 10Y*
- 0.66%
BSCR
- 1D
- -0.03%
- 1M
- 0.25%
- 6M
- 1.57%
- YTD
- 1.57%
- 1Y
- 4.33%
- 3Y*
- 5.30%
- 5Y*
- 1.36%
- 10Y*
- —
PICB vs. BSCR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PICB Invesco International Corporate Bond ETF | -2.40% | 14.33% | -3.45% | 11.56% | -22.64% | -6.87% | 12.87% | 9.40% | -7.27% | 1.79% |
BSCR Invesco BulletShares 2027 Corporate Bond ETF | 1.57% | 5.77% | 4.52% | 6.41% | -9.56% | -1.72% | 9.68% | 14.88% | -2.63% | 0.81% |
Correlation
The correlation between PICB and BSCR is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2017 | 0.46 |
The correlation between PICB and BSCR shifts across timeframes, from 0.46 (all time) to 0.58 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PICB vs. BSCR — Risk / Return Rank
PICB
BSCR
PICB vs. BSCR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco International Corporate Bond ETF (PICB) and Invesco BulletShares 2027 Corporate Bond ETF (BSCR). 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.
| PICB | BSCR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.38 | ||
| Sortino ratioReturn per unit of downside risk | -8.14 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 2.16 | -1.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 10.40 | -10.50 |
| Martin ratioReturn relative to average drawdown | -0.23 | 45.90 | -46.13 |
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Drawdowns
PICB vs. BSCR - Drawdown Comparison
The maximum PICB drawdown since its inception was -37.10%, which is greater than BSCR's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for PICB and BSCR.
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Drawdown Indicators
| PICB | BSCR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.10% | -17.26% | -19.84% |
Max Drawdown (1Y)Largest decline over 1 year | -6.41% | -0.42% | -5.99% |
Max Drawdown (3Y)Largest decline over 3 years | -9.76% | -2.27% | -7.49% |
Max Drawdown (5Y)Largest decline over 5 years | -36.23% | -14.87% | -21.36% |
Max Drawdown (10Y)Largest decline over 10 years | -37.10% | — | — |
Current DrawdownCurrent decline from peak | -13.41% | -0.03% | -13.38% |
Average DrawdownAverage peak-to-trough decline | -9.68% | -3.30% | -6.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 0.09% | +2.51% |
Volatility
PICB vs. BSCR - Volatility Comparison
Invesco International Corporate Bond ETF (PICB) has a higher volatility of 2.14% compared to Invesco BulletShares 2027 Corporate Bond ETF (BSCR) at 0.20%. This indicates that PICB's price experiences larger fluctuations and is considered to be riskier than BSCR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PICB | BSCR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.14% | 0.20% | +1.94% |
Volatility (6M)Calculated over the trailing 6-month period | 6.26% | 0.60% | +5.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.84% | 1.01% | +6.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.18% | 4.08% | +6.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.97% | 5.32% | +4.65% |
PICB vs. BSCR - Expense Ratio Comparison
PICB has a 0.50% expense ratio, which is higher than BSCR's 0.10% expense ratio.
Dividends
PICB vs. BSCR - Dividend Comparison
PICB's dividend yield for the trailing twelve months is around 3.43%, less than BSCR's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSCR Invesco BulletShares 2027 Corporate Bond ETF | 4.28% | 4.26% | 4.27% | 3.74% | 2.65% | 2.12% | 2.46% | 3.11% | 3.35% | 0.78% | 0.00% | 0.00% |
PICB Invesco International Corporate Bond ETF | 3.43% | 3.17% | 3.19% | 2.24% | 1.64% | 1.34% | 1.22% | 1.42% | 1.70% | 1.47% | 2.20% | 2.39% |
Frequently Asked Questions
PICB and BSCR have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PICB has higher volatility (2.14%) compared to BSCR (0.20%). In terms of maximum drawdown, PICB dropped -37.10% vs BSCR's -17.26%.
On 5-year performance, BSCR leads with 1.36% vs -2.26% for PICB. On fees, BSCR is cheaper at 0.10% per year. On volatility, BSCR has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BSCR has performed better with a 1.36% return vs -2.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSCR is cheaper with a 0.10% expense ratio, compared with 0.50% for PICB.
BSCR has the higher dividend yield at 4.28%, compared with 3.43% for PICB.
PICB tracks S&P International Corporate Bond Index, while BSCR tracks NASDAQ Bulletshares® USD Corporate Bond 2027 Index. Their fees differ too: 0.50% for PICB and 0.10% for BSCR.
BSCR currently has the higher Sharpe Ratio (4.31 vs -0.08), 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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