A compressive stress is applied to a channel region of a PFET by structure including a discrete dielectric stressor element that fully underlies the bottom surface of an active semiconductor region in which the source, drain and channel region of the PFET is disposed. In particular, the dielectric stressor element includes a region of collapsed oxide which fully contacts the bottom surface of the active semiconductor region such that it has an area coextensive with an area of the bottom surface. Bird's beak oxide regions at edges of the dielectric stressor element apply an upward force at edges of the dielectric stressor element to impart a compressive stress to the channel region of the PFET.