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PowerShares CEF Income Composite Portfolio ETF (PCEF)

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  • Mar. 5, 2014, 12:04 PM
    • The AdvisorShares YieldPro ETF (YPRO), a joint venture with The Elements Group, launched this morning.
    • This ETF will hold both long and short term fixed income investments, selected after a screening for yield, volatility, volume and relative strength.
    • Noah Hamman, chief executive officer of AdvisorShares, stated in a press release; "in the current interest rate environment where many investors and advisors actively hunt for the dual goals of yield and mitigation of risk, we feel YPRO may help allow the flexibility to potentially achieve both objectives."
    • Other multi asset bond ETFs: CVY, PCEF, CEFL, MDIV, IYLD, YYY, GYLD, DVHL, HGI, INKM, DVHI, YDIV, GCE, RIGS
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  • Dec. 12, 2013, 11:29 AM
    • The ETRACS Monthly Pay 2xLeverage Closed-End Fund ETN (CEFL) features a double-exposure strategy focused on closed-end funds and will shoot off a dividend of 19.4%.
    • This newest addition to the UBS lineup has been described as a double-exposure version of the YieldShares High Income ETF (YYY), which launched earlier this year and has a yield of 10.4%.
    • Other multi-asset ETPs: CVY, PCEF, MDIV, IYLD, GYLD, INKM, DVHL, GCE, DVHI, RIGS, YDIV
    | 1 Comment
  • Jun. 26, 2013, 10:13 AM
    Christian Magoon's YieldShares launched last Friday the High Income ETF (YYY) - a rebranding of SNDS - which will invest in about 30 closed-end funds (mostly equity CEFs). The strategy is similar to that of PowerShares' CEF Income Composite Portfolio (PCEF). "There's an opportunity here being missed in the income ETF space," says Magoon.
    | 1 Comment
  • May 24, 2013, 12:45 PM
    Multi-asset income ETFs are here to stay, writes Paul Britt, as Guggenheim's CVY crosses $1B in AUM. It's been around since 2006, but a new entrant, MDIV has pulled in $440M in less than a year. These income funds have no mandate in their search for yield and roam across dividends (DVY), high-yield (HYG), REITs (IYR, VNQ), and MLPs (AMJ) as necessary. One drawback is their somewhat high expense ratios - in the 60-80 bp range, compared, for example, to DVY at 40 bps. Other M-A ETFs: INKM, IYLD, GYLD, HGI.
    | 2 Comments
  • Nov. 16, 2012, 3:44 PM
    Not all closed-end funds trade at premiums to NAV, and for the ones at discounts, recent declines in their stock price - but not their value - has made them even more attractive. The favorites of UBS' Sangeeta Marfatia: IGI, [[iGR]], HPS, and HTD.
    | Comment!
  • Dec. 6, 2010, 3:28 PM
    As FY2010 winds down, ETF issuers have begun announcing expected capital gains payouts for their product lines. PowerShares expects to pay (pdf) distributions on just 3 of 112 funds with a top payout on PSAU of less than 2% of NAV. iShares expects payouts on just 5 of 219 ETFs with MBB the worst offender at 2.5% of its NAV.
    | Comment!
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PCEF Description
The PowerShares CEF Income Composite Portfolio (Fund) is based on the S-Network Composite Closed-End Fund IndexSM (Index). The Fund will normally invest at least 80% 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 utilize an equity option writing (selling) strategy.
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