Invesco International Corporate Bond ETF (PICB) Performance
PICB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −4.2% since Dec 31, 2025
- 1 year
- −3.3% total return
- 5 years
- −2.1% a year
- 10 years
- +0.8% a year
- Since first price
- +1.7% a year since 2010
PICB trailing returns vs AGG, TLT, SPY
| Period | PICB total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −0.3% | −0.6% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.6% | −2.4% | −0.4% | −1.0% | +3.2% |
| 6 months | −3.5% | −5.2% | −1.5% | −3.8% | +7.8% |
| YTD | −4.2% | −6.9% | −1.0% | −3.4% | +12.3% |
| 1 year | −3.3% | −6.5% | −1.1% | −6.9% | +14.4% |
| 3 years | +17.8%+5.6%/yr | +7.0% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | −10.0%−2.1%/yr | −21.4% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +8.6%+0.8%/yr | −11.7% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| 15 years | +14.3%+0.9%/yr | −18.6% | +32.2%+1.9%/yr | +9.9%+0.6%/yr | +696.0%+14.8%/yr |
| Since inceptionJun 3, 2010 | +31.3%+1.7%/yr | −11.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PICB vs AGG
From Jun 3, 2010: PICB grew to $13,127, AGG to $14,372.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PICB returns by calendar year
8 of 15 full years positive. Best 2012 (+15.8%), worst 2022 (−22.6%). 2026 is year to date.
PICB annual returns table
| Year | PICB | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −4.2% | −7.9% | −1.0% | −3.4% | +12.3% |
| 2025 | +14.3% | −3.3% | +7.2% | +4.3% | +17.7% |
| 2024 | −3.5% | −7.6% | +1.3% | −8.1% | +24.9% |
| 2023 | +11.6% | −8.0% | +5.7% | +2.8% | +26.2% |
| 2022 | −22.6% | −32.6% | −13.0% | −31.2% | −18.2% |
| 2021 | −6.9% | −8.2% | −1.8% | −4.6% | +28.7% |
| 2020 | +12.9% | −22.6% | +7.5% | +18.2% | +18.3% |
| 2019 | +9.4% | −2.2% | +8.5% | +14.1% | +31.2% |
| 2018 | −7.3% | −11.8% | +0.1% | −1.6% | −4.6% |
| 2017 | +14.4% | −3.7% | +3.6% | +9.2% | +21.7% |
| 2016 | −0.8% | −11.8% | +2.4% | +1.2% | +12.0% |
| 2015 | −9.3% | −9.0% | +0.5% | −1.8% | +1.2% |
| 2014 | −1.2% | −6.7% | +6.0% | +27.3% | +13.5% |
| 2013 | +2.5% | −8.4% | −2.0% | −13.4% | +32.3% |
| 2012 | +15.8% | −5.8% | +3.8% | +2.6% | +16.0% |
| 2011 | +1.0% | −11.3% | +7.7% | +34.0% | +1.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PICB largest drawdowns
Now 15.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 5, 2021 | −37.1% | Sep 27, 2022 | not yet | 1.7 years | 5.8 years so far |
| Feb 1, 2018 | −23.4% | Mar 18, 2020 | Jul 21, 2020 | 2.1 years | 2.5 years |
| Jul 1, 2014 | −17.3% | Dec 15, 2016 | Feb 1, 2018 | 2.5 years | 3.6 years |
| Aug 5, 2011 | −11.3% | Nov 28, 2011 | Aug 28, 2012 | 4 months | 1.1 years |
| Nov 4, 2010 | −10.0% | Dec 20, 2010 | Apr 21, 2011 | 46 days | 6 months |
| May 1, 2013 | −8.4% | Jul 5, 2013 | Oct 18, 2013 | 2 months | 6 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
PICB risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2010 |
|---|---|---|---|---|
| Annualized return | +5.5% | −2.0% | +0.3% | +1.6% |
| Volatility (annualized) | 8.9% | 11.7% | 10.3% | 10.0% |
| Sharpe ratio | 0.16 | -0.43 | -0.14 | 0.07 |
| Sortino ratio | 0.23 | -0.54 | -0.19 | 0.10 |
| Best month | +6.0% | +8.6% | +8.6% | +8.6% |
| Worst month | −4.7% | −8.2% | −8.6% | −8.6% |
| Best 12 months | +15.9% | +15.9% | +18.5% | +18.5% |
| Worst 12 months | −3.5% | −30.6% | −30.6% | −30.6% |
| Positive months | 64% | 57% | 56% | 55% |
| Beta vs S&P 500 | 0.33 | 0.53 | 0.45 | — |
| Correlation with S&P 500 | 0.46 | 0.71 | 0.67 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PICB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 185 | −30.6% | +2.6% | +18.5% | 66% |
| 3-year (a year) | 161 | −8.6% | +1.7% | +10.4% | 63% |
| 5-year (a year) | 137 | −5.2% | +0.1% | +5.4% | 53% |
| 10-year (a year) | 77 | −2.1% | +0.6% | +3.4% | 58% |
Every holding period starting at a month-end since 2010. Returns for 3 years and longer are annualized.
PICB performance overview
Invesco International Corporate Bond ETF (PICB) returned −3.3% over the past year and +0.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2010 it has returned +1.7% a year, turning $10,000 into about $13,127. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −37.1%, from Jan 5, 2021 to Sep 27, 2022; the fund has not yet regained that high. PICB finished 8 of its 15 full calendar years with a gain; the best year was 2012 (+15.8%) and the worst 2022 (−22.6%). Volatility has been 10.0% a year.
Related: PICB chart, PICB dividends, PICB bond profile. See the PICB overview for the latest quote and fund facts.
PICB performance FAQ
What is the PICB return over the past year?
PICB returned −3.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 6.5%.
What is the average annual return of PICB?
PICB has returned −2.1% a year over 5 years, +0.8% a year over 10 years, +1.7% a year since June 3, 2010 (total return, distributions reinvested).
How much would $10,000 invested in PICB be worth?
$10,000 invested in PICB at its first recorded close on June 3, 2010 would be worth about $13,127 on October 23, 2026 with distributions reinvested.
What was the worst year for PICB?
The worst calendar year was 2022, with a total return of −22.6%. The best was 2012 at +15.8%.
What is the biggest drawdown of PICB?
The largest peak-to-trough decline was −37.1% between January 5, 2021 and September 27, 2022. It has not yet recovered to that high; it is 15.0% below its peak.
How volatile is PICB?
Over the past 3 years PICB had an annualized volatility of 8.9% and a Sharpe ratio of 0.16 (excess return over 1–3 month T-bills per unit of risk).