PCEF vs VOO
Invesco CEF Income Composite ETF vs Vanguard S&P 500 ETF
Which is better, PCEF or VOO?
Debt-oriented balanced against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. PCEF is less concentrated, with 29.4% of the fund in its ten largest positions against 37.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PCEF | VOO |
|---|---|---|
| Expense Ratio | 2.71% | 0.03%Best |
| AUM | $807M | $997.4B |
| Dividend Yield | 7.47% | 1.04% |
| Holdings | 109 | 509 |
| YTD Return | +4.76% | +12.37%Best |
| 1Y Return | +5.61% | +16.61%Best |
| 3Y Return (annualized) | +13.29% | +21.37%Best |
| 5Y Return (annualized) | +4.72% | +13.49%Best |
| Volatility (annualized) | 11.5%Best | 14.1% |
| Max Drawdown | -46.0% | -34.3%Best |
| $10,000 over 5 years | $12,594 | $18,827Best |
| Top 10 Weight | 29.4%Best | 37.6% |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Allocation/Balanced | Equity |
| Style | Debt-oriented balanced | Large Cap Blend |
| Inception | Feb 19, 2010 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 18, 2026 (16 years).
PCEF vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
PCEF vs VOO Performance
Invesco CEF Income Composite ETF (PCEF) is an ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year PCEF returned +5.61% while VOO returned +16.61%. Year to date, PCEF is up 4.76% versus a gain of 12.37% for VOO.
Over three years, PCEF compounded at +13.29% per year against +21.37% for VOO; over five years the annualized figures are +4.72% and +13.49% respectively. Across the full 16-year window we track, VOO has the edge at +13.39% annualized vs +1.24%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 11.5% for PCEF. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -46.0% for PCEF and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PCEF charges 2.71% per year while VOO charges 0.03%. On a $10,000 position that is $271 vs $3 annually, a gap of $268 per year that compounds over a long holding period. On income, PCEF currently yields 7.47% against 1.04% for VOO.
Holdings Overlap
We hold position weights for 106 holdings in PCEF and 494 in VOO, totalling 100.0% and 99.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 106 positions we hold weights for in PCEF and 494 in VOO, against full books of 109 and 509.
What only one of them owns
Our book lists 487 positions for VOO that do not appear in our book for PCEF (99.2% of the fund), and 104 for PCEF that do not appear in VOO (97.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of PCEF and VOO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PCEF or VOO?
PCEF has an expense ratio of 2.71% while VOO charges 0.03%. VOO is the cheaper option, by $268 a year on a $10,000 investment.
Which performed better, PCEF or VOO?
Over the past year PCEF returned +5.61% vs +16.61% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), PCEF annualized +1.24% vs +13.39% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PCEF or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 11.5% for PCEF. Worst drawdown: PCEF -46.0% vs VOO -34.3%.
Should I hold both PCEF and VOO?
PCEF and VOO have a monthly-return correlation of 0.86, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, PCEF or VOO?
PCEF yields 7.47% while VOO yields 1.04%, so PCEF currently pays the higher dividend yield.
Is VOO better than PCEF?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. PCEF is less concentrated, with 29.4% of the fund in its ten largest positions against 37.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.