VettaFi's Islam: Now 15, the 'S&P 500 of closed-end funds' has a big impact

Roxanna Islam, Head of Sector and Industry Research at VettaFi, discusses PCEF — the Invesco Closed-End Fund Income Composite ETF — which she considers the bellwether measure of the closed-end fund industry, a parallel to the Standard & Poor's 500 but for a closed-end space that is rapidly changing. Islam talks about how the ETF — which recently celebrated its 15th anniversary and has $800 million in assets — has changed over the years, how its approach has changed and how it stacks up to newer players in the space and why ETFs are particularly good representing niche industries and investment areas.