PCEF

Invesco CEF Income Composite ETF
*Unless otherwise stated, data provided by FactSet.

PCEF Fund Description

PCEF tracks an index of three types of yield-focused closed-end funds: investment-grade fixed-income, high-yield fixed-income, and option-writing. Larger CEFs and those that trade at discount receive higher weights.

PCEF Factset Analytics Insight

PCEF hunts for yield among publicly-traded closed-end funds (CEFs). CEFs differ from ETFs in that they are closed for additional new investment and share creation. Lacking ETF's baked-in creation/redemption plumbing, CEFs have no outlet for arbitrage to keep market price in line with fair value, so CEFs often trade at discounts or premiums. PCEF favors CEFs that trade at discounts on the theory that such funds are more likely to appreciate in value and because it increases the yield relative to actual price paid. PCEF holds three flavors of CEFs: Investment-grade fixed income, high-yield fixed income and equity covered-call strategies. The fund competes directly to its upstart ETF-of-CEFs rival, YYY. The fund and the index are rebalanced and reconstituted quarterly.

PERFORMANCE [as of 06/27/22] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
PCEF -6.84% -10.31% -18.57% -16.32% 1.84% 3.11% 5.30%
PCEF (NAV) -6.53% -10.25% -18.13% -16.12% 1.86% 3.15% 5.32%
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

PCEF Summary Data

Invesco
02/19/10
Open-Ended Fund
1.97%
$701.21M
0.20%

PCEF Portfolio Data

8.37%
N/A

PCEF Index Data

Multi-Factor
Multi-Factor
N/A

PCEF Fund Structure

No
Yes
-- / --
N/A
N/A
Low
N/A
N/A

PCEF Tax Exposures

20.00% / 39.60%
--
No

PCEF Factset Analytics Block Liquidity

As of 06/29/22
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of PCEF. PCEF is rated a 4 out of 5.

PCEF Tradability

165,998
$3.27M
151,154
$2.98M
0.20%
$0.04
0.05%
3.02% / -0.86%
None
100.00%
50,000
3.02
0.04%
0.54%
76
$18.97
4