YYY vs. PCEF
YYY (Amplify CEF High Income ETF) and PCEF (Invesco CEF Income Composite ETF) are both Diversified Portfolio funds - YYY tracks the Nasdaq CEF High Income™ Index while PCEF tracks the S-Network Composite Closed-End Fund Index. Both are passively managed. Over the past 10 years, YYY returned 5.73%/yr vs 7.33%/yr for PCEF. A 0.79 correlation means they provide meaningful diversification when combined. YYY charges 3.23%/yr vs 2.71%/yr for PCEF.
Performance
YYY vs. PCEF - Performance Comparison
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Returns By Period
In the year-to-date period, YYY achieves a 4.86% return, which is significantly lower than PCEF's 5.15% return. Over the past 10 years, YYY has underperformed PCEF with an annualized return of 5.73%, while PCEF has yielded a comparatively higher 7.33% annualized return.
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
- 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 vs. PCEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Correlation
The correlation between YYY and PCEF 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 YYY and PCEF has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.
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Return for Risk
YYY vs. PCEF — Risk / Return Rank
YYY
PCEF
YYY vs. PCEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amplify CEF High Income ETF (YYY) 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.
| YYY | PCEF | 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 | 1.27 | 1.30 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 1.69 | -0.16 |
| Martin ratioReturn relative to average drawdown | 6.58 | 7.79 | -1.20 |
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Drawdowns
YYY vs. PCEF - Drawdown Comparison
The maximum YYY drawdown since its inception was -42.52%, which is greater than PCEF's maximum drawdown of -38.64%. Use the drawdown chart below to compare losses from any high point for YYY and PCEF.
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Drawdown Indicators
| YYY | PCEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.52% | -38.64% | -3.88% |
Max Drawdown (1Y)Largest decline over 1 year | -8.07% | -8.30% | +0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -13.47% | -14.09% | +0.62% |
Max Drawdown (5Y)Largest decline over 5 years | -27.92% | -24.25% | -3.67% |
Max Drawdown (10Y)Largest decline over 10 years | -42.52% | -38.64% | -3.88% |
Current DrawdownCurrent decline from peak | -0.93% | -0.58% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -6.82% | -4.46% | -2.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.87% | 1.79% | +0.08% |
Volatility
YYY vs. PCEF - Volatility Comparison
The current volatility for Amplify CEF High Income ETF (YYY) is 2.55%, while Invesco CEF Income Composite ETF (PCEF) has a volatility of 2.86%. This indicates that YYY 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.
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Volatility by Period
| YYY | PCEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.55% | 2.86% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 7.23% | 7.55% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.71% | 8.92% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.37% | 11.52% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.90% | 13.31% | +0.59% |
YYY vs. PCEF - Expense Ratio Comparison
YYY has a 3.23% expense ratio, which is higher than PCEF's 2.71% expense ratio.
Dividends
YYY vs. PCEF - Dividend Comparison
YYY's dividend yield for the trailing twelve months is around 12.57%, more than PCEF's 8.36% 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
YYY and PCEF 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, YYY dropped -42.52% vs PCEF's -38.64%.
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.
YYY tracks Nasdaq CEF High Income™ Index, while PCEF tracks S-Network Composite Closed-End Fund Index. They also come from different issuers: Amplify and Invesco. Their fees differ too: 3.23% for YYY and 2.71% for PCEF.
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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