Despite its low fee, Invesco Emerging Markets Sovereign Debt ETF PCY is not a compelling strategy. Its focus on the highest-yielding bonds in each market and equal-weighting approach increases risk and prevents this portfolio from accurately representing the composition of the U.S.-dollar-denominated sovereign emerging-markets debt market. The fund earns a Morningstar Analyst Rating of Neutral.
Will PCY outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PCY’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the PCY management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of PCY’s parent organization’s priorities and whether they’re in line with investors’ interests.