Invesco Emerging Markets Sovereign Debt ETF
$20.12+0.10 (+0.50%)
- 0.50%
- $1.2B
- −0.8%
- 6.31%
- 0.4M sh
- $20.01
- low $19.68high $22.18
The ETF.net PCY Grade
B
Score 58 out of 100
- 10 of 17
Score 58 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.D28 out of 100Rank 11 of 17Mission
Whether the fund did what it promised, tested against its stated mandate.A93 out of 100Rank 9 of 15Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D26 out of 100Rank 16 of 16Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A80 out of 100Rank 4 of 17Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B64 out of 100Rank 8 of 17Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A82 out of 100Rank 4 of 17
Our read on PCY
BEmerging market government bonds, all issued in dollars, drawn from 20-plus countries under a "balanced" index that aims to weight them equally rather than hand the biggest slice to the biggest borrower. Trading since 2007, pays monthly.
The fund seeks to track the DBIQ Emerging Market USD Liquid Balanced Index, which represents liquid U.S.-dollar-denominated government bonds from emerging markets. It normally invests at least 80% of assets in index securities.
Why people hold it
- The index spreads across more than 20 emerging market countries and aims to weight holdings equally, so the heaviest borrowers do not automatically get the heaviest weight.invesco.combloomberg.com
- Countries are reselected annually and the portfolio is rebalanced quarterly, which keeps the mix from drifting toward whichever government issued the most paper.invesco.com
- Dollar-denominated bonds only, so local currency moves are not the driver. About 100 holdings, distributions monthly.
- A multi-billion-dollar fund that has been running since 2007 and tracks its index closely.
Worth knowing
- Costs 0.50% a year, above cohort peers JPMB and EMBD at 0.39%.
- Emerging market sovereign debt is a volatile corner of the bond market: credit downgrades, default scares and rate moves all land in the price.
- Equal weighting cuts both ways. A smaller, shakier issuer can sit alongside the sturdiest ones at a similar size.bloomberg.com
PCY Holdings
- Bonds
- 105
- 12%
- USD Pending Dividends
Geography
- El Salvador3.06%
- Angola3.06%
- Mongolia3.06%
- Trinidad and Tobago3.04%
- Jordan3.02%
- Uzbekistan3.01%
- Brazil3.01%
- Nigeria3.01%
- 75.76%
Developed 0% · Emerging 100%
PCY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
PCY$9,923
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | PCY |
|---|---|
| Year to date | −3.4% |
| 1 month | −2.9% |
| 3 months | −5.6% |
| 1 year | −0.8% |
| 3 years | +10.7% |
| 5 years | +0.9% |
| 10 years | +1.5% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | PCY |
|---|---|---|
| 2026 YTD | −3.4% | |
| 2025 | +16.3% | |
| 2024 | +2.5% | |
| 2023 | +18.5% | |
| 2022 | −24.4% | |
| 2021 | −4.3% | |
| 2020 | +2.3% |
PCY in the news
PCY Dividends
- 6.31%
- $1.26
- $0.11 per share
- Monthly
Distribution history
PCY Risk
- 11.0%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.48
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −36.0%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.59
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PCY Cost
0.50%
PCY0.50%
- The middle half of Emerging Markets Bonds (US Dollar) funds
- Median 0.40%
10 of the 17 Emerging Markets Bonds (US Dollar) funds charge less.
Other funds in Emerging Markets Bonds (US Dollar)
- BJPMBJPMorgan USD Emerging Markets Sovereign Bond ETFExpense ratio 0.39%1 year return +0.9%
- BCEMBiShares J.P. Morgan EM Corporate Bond ETFExpense ratio 0.50%1 year return +1.3%
- CBREMiShares Emerging Markets Bond Active ETFExpense ratio 0.50%1 year return —
- CTEMDTempleton Emerging Markets Debt ETFExpense ratio 0.45%1 year return —
- CNEMDNeuberger Berman Emerging Markets Debt Hard Currency ETFExpense ratio 0.85%1 year return +5.6%