PICB vs TLTE

Comparison between INVESCO INTERNATIONAL CORPORATE BOND ETF (PICB, ETF) and FLEXSHARES MORNINGSTAR EMERGING MARKETS FACTOR TILT INDEX FUND (TLTE, ETF).

5-Year PerformanceTLTE has outperformed PICB, delivering a return of +7.5% compared to -2.2%

PICB vs TLTE - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PICB(ETF)	TLTE(ETF)
Net Assets	$353M	$354M
Expense Ratio	0.50%	0.57%
Max Drawdown	39.48%	47.60%
Sharpe Ratio	-0.41	1.13
5Y Beta	0.09	0.77
5Y Dividends CAGR	18.45%	12.10%

Net Assets

PICB

$353M

Winner

TLTE

$354M

Expense Ratio

Winner

PICB

0.50%

TLTE

0.57%

Max Drawdown

Winner

PICB

39.48%

TLTE

47.60%

Sharpe Ratio

PICB

-0.41

Winner

TLTE

1.13

5Y Beta

Winner

PICB

0.09

TLTE

0.77

5Y Dividends CAGR

Winner

PICB

18.45%

TLTE

12.10%

PICB vs TLTE - Historical Returns

Returns include dividend reinvestment.

Period	PICB	TLTE
1 month	-0.44%	-7.47%
3 months	-1.86%	+2.53%
6 months	-2.22%	+9.59%
1 year	-0.51%	+28.82%
5 years(CAGR)	-2.19%	+7.45%
10 years(CAGR)	+0.71%	+8.35%
Max(CAGR)	+1.84%	+5.63%

Winner

PICB

-0.44%

TLTE

-7.47%

PICB

-1.86%

Winner

TLTE

+2.53%

PICB

-2.22%

Winner

TLTE

+9.59%

PICB

-0.51%

Winner

TLTE

+28.82%

5Y(CAGR)

PICB

-2.19%

Winner

TLTE

+7.45%

10Y(CAGR)

PICB

+0.71%

Winner

TLTE

+8.35%

Max(CAGR)

PICB

+1.84%

Winner

TLTE

+5.63%

PICB vs TLTE - Annual Returns (2010 - 2026)

Returns include dividend reinvestment.

Year	PICB	TLTE
2026	-1.72%	+14.93%
2025	+14.99%	+30.52%
2024	-1.75%	+4.53%
2023	+12.57%	+12.92%
2022	-21.87%	-17.88%
2021	-6.81%	+3.78%
2020	+12.70%	+10.36%
2019	+10.21%	+14.45%
2018	-7.30%	-19.05%
2017	+15.90%	+31.58%
2016	-0.48%	+15.54%
2015	-8.41%	-12.45%
2014	-0.35%	-2.23%
2013	+3.11%	-4.39%
2012	+14.81%	+6.36%
2011	+1.03%	N/A
2010	+10.61%	N/A

PICB vs TLTE 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 TLTE was -44.20%, occurring on Mar 23, 2020. Recovery took 743 trading sessions.

The current PICB drawdown is -13.20%. The current TLTE drawdown is -7.47%.

Rank	PICB	TLTE
#1	-37.10% Dec 31, 2020 - Sep 27, 2022	-44.20% Jan 26, 2018 - Jan 8, 2021
#2	-23.37% Feb 1, 2018 - Jul 21, 2020	-33.82% Sep 5, 2014 - Jun 2, 2017
#3	-17.26% Jun 30, 2014 - Feb 1, 2018	-33.49% Jun 4, 2021 - Jun 9, 2025
#4	-11.36% Aug 5, 2011 - Aug 28, 2012	-16.76% Jan 3, 2013 - Jul 3, 2014
#5	-9.99% Nov 4, 2010 - Apr 21, 2011	-13.04% Feb 25, 2026 - May 1, 2026
#6	-8.39% May 1, 2013 - Oct 18, 2013	-9.77% Jun 22, 2026 - Jul 20, 2026
#7	-4.44% Jan 14, 2013 - Apr 29, 2013	-8.01% Jun 2, 2026 - Jun 18, 2026
#8	-3.31% Oct 14, 2010 - Nov 4, 2010	-6.42% Feb 17, 2021 - Apr 26, 2021
#9	-3.19% May 2, 2011 - Jul 26, 2011	-5.46% May 8, 2026 - May 26, 2026
#10	-3.17% Sep 1, 2020 - Nov 6, 2020	-5.41% Jan 21, 2021 - Feb 8, 2021
#11	-2.75% Aug 6, 2010 - Sep 22, 2010	-4.44% Oct 29, 2025 - Dec 26, 2025
#12	-2.18% Oct 24, 2013 - Feb 13, 2014	-4.43% May 7, 2021 - May 28, 2021
#13	-1.76% Jun 3, 2010 - Jun 14, 2010	-4.40% Nov 22, 2017 - Dec 27, 2017
#14	-1.52% May 6, 2014 - Jun 26, 2014	-4.15% Oct 17, 2012 - Dec 5, 2012
#15	-1.33% Mar 14, 2014 - Apr 8, 2014	-3.94% Oct 6, 2025 - Oct 20, 2025

Correlation

Correlation between PICB and TLTE is 0.35 which considered as a weak positive correlation - the stocks show a slight tendency to move together.

0.35

-101

Dividend Comparison (2010 - 2026)

PICB vs TLTE dividend yield comparison.

Year	PICB	TLTE
2026	1.96%	0.37%
2025	3.17%	3.76%
2024	3.19%	3.73%
2023	2.24%	4.03%
2022	1.64%	4.42%
2021	1.34%	3.21%
2020	1.22%	1.95%
2019	1.42%	3.23%
2018	1.70%	3.02%
2017	1.47%	2.12%
2016	2.20%	2.30%
2015	2.39%	2.00%
2014	2.64%	2.06%
2013	2.73%	0.83%
2012	3.09%	0.10%
2011	3.96%	0.00%
2010	1.94%	0.00%