SVBAX vs. PCEF
SVBAX (John Hancock Balanced Fund) and PCEF (Invesco CEF Income Composite ETF) are both Diversified Portfolio funds. Over the past 10 years, SVBAX returned 9.70%/yr vs 7.03%/yr for PCEF. Their 0.76 correlation means they have sometimes moved together and sometimes differently. SVBAX charges 1.03%/yr vs 2.71%/yr for PCEF.
Performance
SVBAX vs. PCEF - Performance Comparison
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Returns By Period
In the year-to-date period, SVBAX achieves a 9.73% return, which is significantly higher than PCEF's 5.32% return. Over the past 10 years, SVBAX has outperformed PCEF with an annualized return of 9.70%, while PCEF has yielded a comparatively lower 7.03% annualized return.
SVBAX
- 1D
- 1.78%
- 1M
- -0.37%
- 6M
- 7.75%
- YTD
- 9.73%
- 1Y
- 19.32%
- 3Y*
- 14.79%
- 5Y*
- 8.31%
- 10Y*
- 9.70%
- ALL TIME*
- 7.86%
PCEF
- 1D
- 0.53%
- 1M
- -0.78%
- 6M
- 3.44%
- YTD
- 5.32%
- 1Y
- 10.52%
- 3Y*
- 12.11%
- 5Y*
- 4.63%
- 10Y*
- 7.03%
- ALL TIME*
- 6.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.77M | $2.55M | $2.69M | |
| $0.00 | $0.00 | $0.00 |
SVBAX vs. PCEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SVBAX John Hancock Balanced Fund | 9.73% | 15.69% | 13.31% | 18.22% | -15.79% | 14.49% | 15.97% | 21.28% | -5.02% | 13.40% |
PCEF Invesco CEF Income Composite ETF | 5.32% | 12.59% | 16.70% | 9.39% | -18.66% | 15.38% | 4.61% | 24.08% | -8.88% | 14.48% |
Correlation
The correlation between SVBAX and PCEF is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2010 | 0.76 |
The correlation between SVBAX and PCEF has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.
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Return for Risk
SVBAX vs. PCEF — Risk / Return Rank
SVBAX
PCEF
SVBAX vs. PCEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Balanced Fund (SVBAX) 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.
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.
| SVBAX | PCEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.20 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | 1.23 | +2.01 |
| Martin ratioReturn relative to average drawdown | 14.71 | 5.53 | +9.18 |
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Drawdowns
SVBAX vs. PCEF - Drawdown Comparison
The maximum SVBAX drawdown since its inception was -40.81%, which is greater than PCEF's maximum drawdown of -38.64%. Use the drawdown chart below to compare losses from any high point for SVBAX and PCEF.
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Drawdown Indicators
| SVBAX | PCEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.81% | -38.64% | -2.17% |
Max Drawdown (1Y)Largest decline over 1 year | -5.57% | -8.30% | +2.73% |
Max Drawdown (3Y)Largest decline over 3 years | -12.06% | -14.09% | +2.03% |
Max Drawdown (5Y)Largest decline over 5 years | -20.53% | -24.25% | +3.72% |
Max Drawdown (10Y)Largest decline over 10 years | -21.00% | -38.64% | +17.64% |
Current DrawdownCurrent decline from peak | -1.05% | -1.24% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -5.22% | -4.44% | -0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 1.83% | -0.61% |
Volatility
SVBAX vs. PCEF - Volatility Comparison
John Hancock Balanced Fund (SVBAX) has a higher volatility of 2.82% compared to Invesco CEF Income Composite ETF (PCEF) at 2.43%. This indicates that SVBAX's price experiences larger fluctuations and is considered to be riskier than PCEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SVBAX | PCEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.82% | 2.43% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 7.40% | 7.84% | -0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.09% | 9.23% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.92% | 11.54% | -0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.81% | 13.30% | -2.49% |
SVBAX vs. PCEF - Expense Ratio Comparison
SVBAX has a 1.03% expense ratio, which is lower than PCEF's 2.71% expense ratio.
Dividends
SVBAX vs. PCEF - Dividend Comparison
SVBAX's dividend yield for the trailing twelve months is around 11.42%, more than PCEF's 7.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCEF Invesco CEF Income Composite ETF | 7.67% | 7.96% | 8.79% | 9.86% | 8.93% | 6.67% | 7.54% | 7.12% | 8.21% | 6.96% | 7.72% | 9.18% |
SVBAX John Hancock Balanced Fund | 11.42% | 12.45% | 3.72% | 1.48% | 1.60% | 2.73% | 1.60% | 2.19% | 8.06% | 3.51% | 1.70% | 4.57% |
Frequently Asked Questions
SVBAX and PCEF have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SVBAX has higher volatility (2.82%) compared to PCEF (2.43%). In terms of maximum drawdown, SVBAX dropped -40.81% vs PCEF's -38.64%.
SVBAX currently has the higher Sharpe Ratio (1.98 vs 1.10), 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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