PICB vs AFB

Comparison between INVESCO INTERNATIONAL CORPORATE BOND ETF (PICB, ETF) and AllianceBernstein National Municipal Income Fund Inc (AFB, ETF).

5-Year PerformanceAFB has outperformed PICB, delivering a return of -1.8% compared to -2.2%

PICB vs AFB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PICB(ETF)	AFB(ETF)
Net Assets	$353M	$353M
Expense Ratio	0.50%	N/A
Max Drawdown	39.48%	56.18%
Sharpe Ratio	-0.41	1.30
5Y Beta	0.09	0.10
5Y Dividends CAGR	18.45%	-2.10%

Net Assets

Winner

PICB

$353M

AFB

$353M

Expense Ratio

PICB

0.50%

AFB

N/A

Max Drawdown

Winner

PICB

39.48%

AFB

56.18%

Sharpe Ratio

PICB

-0.41

Winner

AFB

1.30

5Y Beta

Winner

PICB

0.09

AFB

0.10

5Y Dividends CAGR

Winner

PICB

18.45%

AFB

-2.10%

PICB vs AFB - Historical Returns

Returns include dividend reinvestment.

Period	PICB	AFB
1 month	-0.44%	-2.04%
3 months	-1.86%	+2.08%
6 months	-2.22%	+4.37%
1 year	-0.51%	+15.23%
5 years(CAGR)	-2.19%	-1.81%
10 years(CAGR)	+0.71%	+1.36%
Max(CAGR)	+1.84%	+4.40%

Winner

PICB

-0.44%

AFB

-2.04%

PICB

-1.86%

Winner

AFB

+2.08%

PICB

-2.22%

Winner

AFB

+4.37%

PICB

-0.51%

Winner

AFB

+15.23%

5Y(CAGR)

PICB

-2.19%

Winner

AFB

-1.81%

10Y(CAGR)

PICB

+0.71%

Winner

AFB

+1.36%

Max(CAGR)

PICB

+1.84%

Winner

AFB

+4.40%

PICB vs AFB - Annual Returns (2002 - 2026)

Returns include dividend reinvestment.

Year	PICB	AFB
2026	-1.72%	+4.95%
2025	+14.99%	+3.74%
2024	-1.75%	+3.62%
2023	+12.57%	+6.52%
2022	-21.87%	-26.36%
2021	-6.81%	+7.80%
2020	+12.70%	+8.62%
2019	+10.21%	+17.80%
2018	-7.30%	-5.64%
2017	+15.90%	+5.98%
2016	-0.48%	+0.60%
2015	-8.41%	+6.57%
2014	-0.35%	+17.08%
2013	+3.11%	-16.19%
2012	+14.81%	+12.31%
2011	+1.03%	+23.79%
2010	+10.61%	+2.72%
2009	N/A	+46.56%
2008	N/A	-26.19%
2007	N/A	-7.62%
2006	N/A	+5.59%
2005	N/A	+17.67%
2004	N/A	+6.73%
2003	N/A	+9.12%
2002	N/A	-3.10%

PICB vs AFB Drawdown Comparison

The maximum drawdown for PICB was -37.10%, occurring on Sep 27, 2022. This drawdown has not yet recovered.

The maximum drawdown for AFB was -51.00%, occurring on Oct 10, 2008. Recovery took 746 trading sessions.

The current PICB drawdown is -13.20%. The current AFB drawdown is -10.27%.

Rank	PICB	AFB
#1	-37.10% Dec 31, 2020 - Sep 27, 2022	-51.00% Oct 19, 2006 - Oct 7, 2009
#2	-23.37% Feb 1, 2018 - Jul 21, 2020	-35.14% Dec 16, 2021 - Oct 20, 2023
#3	-17.26% Jun 30, 2014 - Feb 1, 2018	-26.40% Jan 18, 2013 - Jan 7, 2016
#4	-11.36% Aug 5, 2011 - Aug 28, 2012	-23.23% Mar 6, 2020 - Nov 27, 2020
#5	-9.99% Nov 4, 2010 - Apr 21, 2011	-18.03% Oct 7, 2010 - Sep 13, 2011
#6	-8.39% May 1, 2013 - Oct 18, 2013	-14.00% Mar 17, 2004 - Nov 1, 2004
#7	-4.44% Jan 14, 2013 - Apr 29, 2013	-13.99% Jul 8, 2016 - Jun 13, 2019
#8	-3.31% Oct 14, 2010 - Nov 4, 2010	-12.35% Jan 29, 2002 - Apr 28, 2003
#9	-3.19% May 2, 2011 - Jul 26, 2011	-9.33% Oct 7, 2009 - Jan 25, 2010
#10	-3.17% Sep 1, 2020 - Nov 6, 2020	-8.25% Mar 2, 2012 - May 17, 2012
#11	-2.75% Aug 6, 2010 - Sep 22, 2010	-8.16% Jun 13, 2003 - Jan 9, 2004
#12	-2.18% Oct 24, 2013 - Feb 13, 2014	-6.23% Oct 1, 2012 - Jan 7, 2013
#13	-1.76% Jun 3, 2010 - Jun 14, 2010	-6.06% Sep 7, 2005 - Dec 15, 2005
#14	-1.52% May 6, 2014 - Jun 26, 2014	-5.38% Jul 11, 2006 - Aug 1, 2006
#15	-1.33% Mar 14, 2014 - Apr 8, 2014	-5.24% Jan 30, 2012 - Mar 2, 2012

Correlation

Correlation between PICB and AFB is 0.62 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.62

-101

Dividend Comparison (2002 - 2026)

PICB vs AFB dividend yield comparison.

Year	PICB	AFB
2026	1.96%	3.18%
2025	3.17%	4.72%
2024	3.19%	3.83%
2023	2.24%	3.62%
2022	1.64%	5.26%
2021	1.34%	4.32%
2020	1.22%	4.18%
2019	1.42%	3.93%
2018	1.70%	4.53%
2017	1.47%	4.70%
2016	2.20%	5.34%
2015	2.39%	5.80%
2014	2.64%	6.35%
2013	2.73%	7.06%
2012	3.09%	5.98%
2011	3.96%	6.29%
2010	1.94%	7.19%
2009	0.00%	6.64%
2008	0.00%	8.37%
2007	0.00%	5.91%
2006	0.00%	6.29%
2005	0.00%	6.48%
2004	0.00%	7.14%
2003	0.00%	6.81%
2002	0.00%	5.18%