PCEF - Invesco CEF Income Composite ETF

Equity - US Equity

Product Details

The Invesco CEF Income Composite ETF (Fund) is based on the S-Network Composite Closed-End Fund IndexSM (Index). The Fund will normally invest at least 90% of its total assets in securities of funds included in the Index. The Fund is a "fund-of-funds," as it invests its assets in the common shares of funds included in the Index rather than in individual securities. The Index currently includes closed-end funds that invest in taxable investment grade fixed-income securities, taxable high yield fixed-income securities and others that utilize an equity option writing (selling) strategy. The Fund and the Index are rebalanced and reconstituted quarterly

as of 06/30/2019

Morningstar Rating

Overall Rating - Allocation--15% to 30% Equity Category

As of 06/30/2019 the Fund had an overall rating of 5 stars out of 192 funds and was rated 5 stars out of 192 funds, 5 stars out of 162 funds and N/A stars out of N/A funds for the 3-, 5- and 10- year periods, respectively.

Morningstar details

Source: Morningstar Inc. Ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance, placing more emphasis on downward variations and rewarding consistent performance. Open-end mutual funds and exchange-traded funds are considered a single population for comparison purposes. Ratings are calculated for funds with at least a three year history. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable, excluding sales charges and including fees and expenses. ©2019 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. Ratings are subject to change monthly. Had fees not been waived and/or expenses reimbursed currently or in the past, the Morningstar rating would have been lower. Ratings for other share classes may differ due to different performance characteristics.

as of 06/30/2019 06/30/2019

Performance

  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
S-Network Composite Closed-End Fund Index 16.66 7.65 8.82 5.97 N/A 7.49
S&P 500 Index 18.54 10.42 14.19 10.71 14.70 13.32
S-Network Composite Closed-End Fund Index 16.66 7.65 8.82 5.97 N/A 7.49
S&P 500 Index 18.54 10.42 14.19 10.71 14.70 13.32
Fund History (%)
Fund NAV 16.41 7.19 8.35 5.50 N/A 6.99
After Tax Held 14.61 4.05 5.71 2.86 N/A 4.39
After Tax Sold 9.67 4.22 5.31 3.07 N/A 4.35
Fund Market Price 16.03 6.95 8.25 5.47 N/A 6.96
Fund NAV 16.41 7.19 8.35 5.50 N/A 6.99
After Tax Held 14.61 4.05 5.71 2.86 N/A 4.39
After Tax Sold 9.67 4.22 5.31 3.07 N/A 4.35
Fund Market Price 16.03 6.95 8.25 5.47 N/A 6.96

Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects applicable fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.

as of 06/30/2019

Growth of $10,000

Data beginning Fund inception and ending 06/30/2019. Fund performance shown at NAV.

An investor cannot invest directly in an index. The results assume that no cash was added to or assets withdrawn from the Index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

Quality Allocations as of 07/15/2019

S&P Moody's
Not Rated : 2% Not Rated : 2%

as of 07/15/2019 Top Holdings | View All

Fund Holdings subject to change

Ticker Company % of Fund
EXG Eaton Vance Tax-Managed Global Diversified Equity Income Fun 3.00
EVV Eaton Vance Limited Duration Income Fund 2.71
BDJ BlackRock Enhanced Equity Dividend Trust 2.51
BTZ BlackRock Credit Allocation Income Trust 2.29
JPS Nuveen Preferred & Income Securities Fund 2.26
NFJ AllianzGI NFJ Dividend Interest & Premium Strategy Fund 2.18
HYT BlackRock Corporate High Yield Fund Inc 2.14
FAX Aberdeen Asia-Pacific Income Fund Inc 2.02
DSL DoubleLine Income Solutions Fund 1.80
ETY Eaton Vance Tax-Managed Diversified Equity Income Fund 1.80

as of 07/15/2019

Investment Categories

Distributions | View All | Distribution Information

Ex-Date Record Date Pay Date $/
Share
Ordinary Income Short Term Gains Long Term Gains Return of Capital
06/24/2019 06/25/2019 06/28/2019 0.12468 0.12468 - - -
05/20/2019 05/21/2019 05/31/2019 0.12968 0.12968 - - -
04/22/2019 04/23/2019 04/30/2019 0.14945 0.14945 - - -
03/18/2019 03/19/2019 03/29/2019 0.15144 0.15144 - - -
02/19/2019 02/20/2019 02/28/2019 0.15183 - - - -
01/22/2019 01/23/2019 01/31/2019 0.14052 0.14052 - - -
12/24/2018 12/26/2018 12/31/2018 0.12837 0.12837 - - -
11/19/2018 11/20/2018 11/30/2018 0.13845 0.13845 - - -
10/22/2018 10/23/2018 10/31/2018 0.14011 0.14011 - - -
09/24/2018 09/25/2018 09/28/2018 0.13921 0.13921 - - -
08/20/2018 08/21/2018 08/31/2018 0.12295 0.12295 - - -
07/23/2018 07/24/2018 07/31/2018 0.13356 0.13356 - - -
06/18/2018 06/19/2018 06/29/2018 0.12457 0.12457 - - -
05/21/2018 05/22/2018 05/31/2018 0.13989 0.13989 - - -
04/23/2018 04/24/2018 04/30/2018 0.14726 0.14726 - - -
03/19/2018 03/20/2018 03/29/2018 0.14735 0.14735 - - -
02/20/2018 02/21/2018 02/28/2018 0.14824 0.14824 - - -
01/22/2018 01/23/2018 01/31/2018 0.15152 0.15152 - - -
12/18/2017 12/19/2017 12/29/2017 0.12950 0.12950 - - -
11/20/2017 11/21/2017 11/30/2017 0.14218 0.14218 - - -
10/23/2017 10/24/2017 10/31/2017 0.12778 0.12778 - - -
09/18/2017 09/19/2017 09/29/2017 0.12883 0.12883 - - -
08/15/2017 08/17/2017 08/31/2017 0.13000 0.13000 - - -
07/14/2017 07/18/2017 07/31/2017 0.13080 0.13080 - - -
06/15/2017 06/19/2017 06/30/2017 0.13077 0.13077 - - -
05/15/2017 05/17/2017 05/31/2017 0.13478 0.13478 - - -
04/13/2017 04/18/2017 04/28/2017 0.15103 0.15103 - - -
03/15/2017 03/17/2017 03/31/2017 0.15349 0.15349 - - -
02/15/2017 02/17/2017 02/28/2017 0.15421 0.15421 - - -
01/13/2017 01/18/2017 01/31/2017 0.15000 0.15000 - - -
12/15/2016 12/19/2016 12/30/2016 0.14200 0.14200 - - -
11/15/2016 11/17/2016 11/30/2016 0.14200 0.14200 - - -
10/14/2016 10/18/2016 10/31/2016 0.12000 0.12000 - - -
09/15/2016 09/19/2016 09/30/2016 0.13000 0.13000 - - -
08/15/2016 08/17/2016 08/31/2016 0.13000 0.13000 - - -
07/15/2016 07/19/2016 07/29/2016 0.14200 0.14200 - - -
06/15/2016 06/17/2016 06/30/2016 0.14260 0.14260 - - -
05/13/2016 05/17/2016 05/31/2016 0.14412 0.14412 - - -
04/15/2016 04/19/2016 04/29/2016 0.15667 0.15667 - - -
03/15/2016 03/17/2016 03/31/2016 0.15935 0.15935 - - -
02/12/2016 02/17/2016 02/29/2016 0.15916 0.15916 - - -
01/15/2016 01/20/2016 01/29/2016 0.16181 0.16181 - - -
12/15/2015 12/17/2015 12/31/2015 0.15185 0.15185 - - -
11/13/2015 11/17/2015 11/30/2015 0.15451 0.15451 - - -
10/15/2015 10/19/2015 10/30/2015 0.16467 0.16467 - - -
09/15/2015 09/17/2015 09/30/2015 0.16473 0.16473 - - -
08/14/2015 08/18/2015 08/31/2015 0.16373 0.16373 - - -
07/15/2015 07/17/2015 07/31/2015 0.16305 0.16305 - - -
06/15/2015 06/17/2015 06/30/2015 0.16944 0.16944 - - -
05/15/2015 05/19/2015 05/29/2015 0.16371 0.16371 - - -
04/15/2015 04/17/2015 04/30/2015 0.16402 0.16402 - - -
03/13/2015 03/17/2015 03/31/2015 0.16375 0.16375 - - -
02/13/2015 02/18/2015 02/27/2015 0.16478 0.16478 - - -
01/15/2015 01/20/2015 01/30/2015 0.17049 0.17049 - - -
12/15/2014 12/17/2014 12/31/2014 0.15402 0.15402 - - -
11/14/2014 11/18/2014 11/28/2014 0.15211 0.15211 - - -
10/15/2014 10/17/2014 10/31/2014 0.15000 0.15000 - - -
09/15/2014 09/17/2014 09/30/2014 0.15000 0.15000 - - -
08/15/2014 08/19/2014 08/29/2014 0.15061 0.15061 - - -
07/15/2014 07/17/2014 07/31/2014 0.15003 0.15003 - - -
06/13/2014 06/17/2014 06/30/2014 0.14959 0.14959 - - -
05/15/2014 05/19/2014 05/30/2014 0.15088 0.15088 - - -
04/15/2014 04/17/2014 04/30/2014 0.17016 0.17016 - - -
03/14/2014 03/18/2014 03/31/2014 0.17250 0.17250 - - -
02/14/2014 02/19/2014 02/28/2014 0.17250 0.17250 - - -
01/15/2014 01/17/2014 01/31/2014 0.17000 0.17000 - - -
12/13/2013 12/17/2013 12/31/2013 0.17680 0.17680 - - -
11/15/2013 11/19/2013 11/29/2013 0.16675 0.16675 - - -
10/15/2013 10/17/2013 10/31/2013 0.16637 0.16637 - - -
09/13/2013 09/17/2013 09/30/2013 0.16409 0.16409 - - -
08/15/2013 08/19/2013 08/30/2013 0.16256 0.16256 - - -
07/15/2013 07/17/2013 07/31/2013 0.16178 0.16178 - - -
06/14/2013 06/18/2013 06/28/2013 0.16476 0.16476 - - -
05/15/2013 05/17/2013 05/31/2013 0.14550 0.14550 - - -
04/15/2013 04/17/2013 04/30/2013 0.16338 0.16338 - - -
03/15/2013 03/19/2013 03/28/2013 0.16498 0.16498 - - -
02/15/2013 02/20/2013 02/28/2013 0.17386 0.17386 - - -
01/15/2013 01/17/2013 01/31/2013 0.16894 0.16894 - - -
12/14/2012 12/18/2012 12/31/2012 0.16402 0.16402 - - -
11/15/2012 11/19/2012 11/30/2012 0.16482 0.16482 - - -
10/15/2012 10/17/2012 10/31/2012 0.14495 0.14495 - - -
09/14/2012 09/18/2012 09/28/2012 0.14530 0.14530 - - -
08/15/2012 08/17/2012 08/31/2012 0.15010 0.15010 - - -
07/13/2012 07/17/2012 07/31/2012 0.15033 0.15033 - - -
06/15/2012 06/19/2012 06/29/2012 0.15035 0.15035 - - -
05/15/2012 05/17/2012 05/31/2012 0.13444 0.13444 - - -
04/13/2012 04/17/2012 04/30/2012 0.16008 0.16008 - - -
03/15/2012 03/19/2012 03/30/2012 0.16538 0.16538 - - -
02/15/2012 02/17/2012 02/29/2012 0.16552 0.16552 - - -
01/13/2012 01/18/2012 01/31/2012 0.16326 0.16326 - - -
12/27/2011 12/29/2011 12/30/2011 0.07996 0.06576 - 0.01420 -
12/15/2011 12/19/2011 12/30/2011 0.30249 0.30249 - - -
11/15/2011 11/17/2011 11/30/2011 0.14100 0.14100 - - -
10/14/2011 10/18/2011 10/31/2011 0.14488 0.14488 - - -
09/15/2011 09/19/2011 09/30/2011 0.14419 0.14419 - - -
08/15/2011 08/17/2011 08/31/2011 0.14600 0.14600 - - -
07/15/2011 07/19/2011 07/29/2011 0.14245 0.14245 - - -
06/15/2011 06/17/2011 06/30/2011 0.15120 0.15120 - - -
05/13/2011 05/17/2011 05/31/2011 0.15204 0.15204 - - -
04/15/2011 04/19/2011 04/29/2011 0.16726 0.16726 - - -
03/15/2011 03/17/2011 03/31/2011 0.16562 0.16562 - - -
02/15/2011 02/17/2011 02/28/2011 0.16584 0.16584 - - -
01/14/2011 01/19/2011 01/31/2011 0.16662 0.16662 - - -
12/28/2010 12/30/2010 12/31/2010 0.05892 0.05892 - - -
12/15/2010 12/17/2010 12/31/2010 0.22897 0.22897 - - -
11/15/2010 11/17/2010 11/30/2010 0.18265 0.18265 - - -
10/15/2010 10/19/2010 10/29/2010 0.18411 0.18411 - - -
09/15/2010 09/17/2010 09/30/2010 0.18746 0.18746 - - -
08/13/2010 08/17/2010 08/31/2010 0.17946 0.17946 - - -
07/15/2010 07/19/2010 07/30/2010 0.18087 0.18087 - - -
06/15/2010 06/17/2010 06/30/2010 0.17970 0.17970 - - -
05/14/2010 05/18/2010 05/28/2010 0.18074 0.18074 - - -
04/15/2010 04/19/2010 04/30/2010 0.18000 0.18000 - - -
03/15/2010 03/17/2010 03/31/2010 0.18240 0.18240 - - -

Frequency Distribution of Discounts & Premiums

    Bid/Ask MidPoint Above NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
03/31/2019 61 26 0 0 0 0 0
12/31/2018 63 41 1 0 0 0 0
09/30/2018 63 53 0 0 0 0 0
06/30/2018 64 50 0 0 0 0 0
Year Ended 2018 251 195 1 0 0 0 0
    Bid/Ask Midpoint Below NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
03/31/2019 61 34 1 0 0 0 0
12/31/2018 63 21 0 0 0 0 0
09/30/2018 63 10 0 0 0 0 0
06/30/2018 64 14 0 0 0 0 0
Year Ended 2018 251 55 0 0 0 0 0

Fund Inception: 02/19/2010

Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices. Performance data quoted represents past performance, which is not a guarantee of future results.


 Risk & Other Information

There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. The Fund’s return may not match the return of the Underlying Index. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.

Shares of closed-end funds frequently trade at a discount to their net asset value in the secondary market and the net asset value of closed-end fund shares may decrease.

The Fund is subject to the risks of the underlying funds. Market fluctuations may change the target weightings in the underlying funds and certain factors may cause the Fund to withdraw its investments therein at a disadvantageous time.

An issuer may be unable to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer’s credit rating.

Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa.

The values of junk bonds fluctuate more than those of high quality bonds and can decline significantly over short time periods.

The securities of closed-end investment companies in which the Fund may invest may be leveraged. As a result, the Fund may be indirectly exposed to leverage resulting in higher volatility in the market and the possibility that the Fund's long-term returns on such securities will be diminished.

Derivatives may be more volatile and less liquid than traditional investments and are subject to market, interest rate, credit, leverage, counterparty and management risks. An investment in a derivative could lose more than the cash amount invested. 

The Fund's investments in futures contracts will cause it to be deemed to be a commodity pool, thereby subjecting the Fund to regulation under the Commodity Exchange Act and Commodity Futures Trading Commission (CFTC) rules. The Adviser is registered as a Commodity Pool Operator (CPO), and the Fund will be operated in accordance with CFTC rules. Registration as a CPO subjects the registrant to additional laws, regulations and enforcement policies, all of which could increase compliance costs and may affect the operations and financial performance of funds whose adviser is required to register as a CPO. Registration as a commodity pool may have negative effects on the ability of the Fund to engage in its planned investment program.

A decision as to whether, when and how to use options involves the exercise of skill and judgment and even a well conceived option transaction may be unsuccessful because of market behavior or unexpected events. The prices of options can be highly volatile and the use of options can lower total returns.

Investments focused in a particular industry or sector are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

The risks of investing in securities of foreign issuers can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.

Stocks of small and mid-sized companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale.

Most senior loans are made to corporations with below investment-grade credit ratings and are subject to significant credit, valuation and liquidity risk. The value of the collateral securing a loan may not be sufficient to cover the amount owed, be found invalid or used to pay other outstanding obligations. The loan's collateral may be difficult to liquidate, or a majority of the collateral may be illiquid.

S-Network Global Indexes, LLCSM and S-Network Composite Closed-End Fund IndexSM are service marks of S-Network Global Indexes LLC and have been licensed for use by Invesco Capital Management LLC. The Invesco CEF Income Composite ETF is not sponsored, endorsed, sold or promoted by S-Network Global Indexes LLC and S-Network Global Indexes LLC makes no representation regarding the advisability of investing in the Invesco CEF Income Composite ETF. Invesco Capital Management LLC is not affiliated with S-Network Global Indexes LLC.

as of 07/16/2019
9:49 AM EST

PCEF
Intraday Stats

  • Last Trade $22.78
  • Current IIV $22.81
  • Change $0.02
  • % Change 0.09%
as of 07/15/2019
  • NAV at market close $22.80

as of 07/15/2019

Fund Yield

  • SEC 30 Day Yield 7.29%
  • Distribution Rate 6.56%
  • 12 Month Distribution Rate 7.24%
  • 30-Day SEC Unsubsidized Yield
    as of 07/15/2019
    7.29%
as of 07/15/2019

Prior Close

  • Closing Price $22.76
  • Bid/Ask Midpoint $22.77
  • Bid/Ask Prem/Disc -$0.03
  • Bid/Ask Prem/Disc -0.13%
as of 07/15/2019

Fund Holdings Weighted Avg Premium/Discount

  • Current -6.25%
  • 52-Week Average -7.42%
  • 52-Week High -5.91%
  • 52-Week Low -13.27%

Fund Details

  • Fund Ticker PCEF
  • CUSIP # 46138E404
  • ISIN US46138E4044
  • Intraday NAV PCEFIV
  • Index Ticker CEFXTR
  • Index Provider S-Network Global Index Inc.
  • Management Fee 0.50%
  • Acquired Fund Fees & Expenses 1.75%
  • Total Expense Ratio 2.25%
  • Marginable Yes
  • Short Selling Yes
  • Options Yes
  • Exchange NYSE Arca
  • Inception Date 02/19/2010
  • # of Holdings 132
    as of 07/15/2019
as of 07/16/2019

Quick Facts

  • Previous Close $22.76
  • Open $22.82
  • Today's High $22.82
  • Today's Low $22.76
  • Today's Volume 14,354
  • 158,382 30-Day Avg Trading
    Volume
  • 52 Week High $23.09
  • 52 Week Low $19.33
  • Shares Outstanding 34.35MM
  • Market Value $783.3MM