ETF Evaluator:
Polen Euro High Yield Bond ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in High Yield Bond Over the Last Year
| 7.6% | Fidelity Sustainable High Yield ETF (FSYD) |
| 7.4% | Horizon Flexible Income ETF (FLXN) |
| 6.7% | iShares Interest Rate Hdg Hi Yld Bd ETF (HYGH) |
| 6.6% | Fidelity Enhanced High Yield ETF (FDHY) |
| 6.3% | Harbor Ares Systematic High-Yield ETF (SIHY) |
Risk
Index
Risk
Index
ETF Details
Polen Euro High Yield Bond ETF Overview
Polen Euro High Yield Bond ETF (PCEB) is an actively managed Taxable Bond High Yield Bond exchange-traded fund (ETF). Polen Capital launched the ETF in 2026.
The investment seeks to generate attractive income and long-term capital appreciation.
Under normal circumstances, the Fund invests at least 80% of its net assets in below-investment grade bonds denominated in euros. The adviser invests the Fund’s assets primarily in credit instruments rated below investment grade by one or more relevant independent rating agencies.
About Polen Euro High Yield Bond ETF (PCEB)
There are 2 members of the management team with an average tenure of 0.30 years: Ben Pakenham (2026) and Adam Tabor (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
Polen Euro High Yield Bond ETF has 85 securities in its portfolio. The top 10 holdings constitute 15.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Polen Euro High Yield Bond ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Polen Euro High Yield Bond ETF has 89.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.9% (10.5% domestic bond, 89.4% foreign bond and 0.0% convertible bond). Polen Euro High Yield Bond ETF has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $21 million in total assets, which is below the $1 billion average for the High Yield Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PCEB Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Polen Euro High Yield Bond ETF expense ratio is average compared to funds in the High Yield Bond category. Polen Euro High Yield Bond ETF has an expense ratio of 0.55%, which is 38% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Polen Euro High Yield Bond ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 69% for the High Yield Bond category.
Recently, in the month of July 2026, Polen Euro High Yield Bond ETF returned -0.1%, which earned it a grade of B, as the High Yield Bond category had an average return of -0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Polen Euro High Yield Bond ETF has a trailing yield of 0.00%, which is below the 6.77% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Polen Euro High Yield Bond ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
PCEB Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PCEB Return (NAV) | -0.1% | na | na | na | na | na |
| PCEB Return (Price) | -0.2% | na | na | na | na | na |
| NAV +/- Price Return | 0.129% | na | na | na | na | na |
| High Yield Bond Avg | -0.2% | 0.5% | 5.0% | 7.8% | 3.8% | 5.0% |
| PCEB Grade (NAV) | B | na | na | na | na | na |
| +/- Category (NAV) | 0.1% | na | na | na | na | na |
| PCEB Tax-Cost Ratio | na | na | na | na | na | na |
PCEB Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PCEB Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| PCEB Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| High Yield Bond Avg | 1.7% | 8.4% | 7.5% | 12.4% | -10.1% | 4.2% | 6.1% | 13.4% | -2.3% | 7.1% | 13.0% |
| PCEB Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 21 Mil |
| Share Class Assets: | $ 21 Mil |
| Turnover: | na |
| Expense Ratio: | 0.55% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.3 years | |||
| Average Tenure: 0.3 years | |||
| Managers (Year): Pakenham Ben (2026), Tabor Adam (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 85 |
| % in Top 10 Holdings: | 15.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 89.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 10.5% |
| Foreign Bond: | 89.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Polen Capital |
| Phone Number: | 888-426-7515 |
| Website: | www.tobam.fr |
| Inception Date: | May 6, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.55% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.40% |
