- ISIN
- US73935X7993
- CUSIP
- 46137V662
- Issuer
- Invesco
- Inception Date
- Jun 23, 2005
- Region
- North America (U.S.)
- Category
- Health & Biotech Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Dynamic Pharmaceuticals Intellidex Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $340M
Share Price Chart
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Performance
PJP Performance Chart
Invesco Dynamic Pharmaceuticals ETF (PJP) is up 9.7% since the beginning of the year. PJP is currently trading at $114 per share. Investors who bought $1,000 worth of PJP shares 5 years ago would now be looking at an investment worth $1,491.
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Returns By Period
Invesco Dynamic Pharmaceuticals ETF (PJP) has returned 9.74% so far this year and 44.65% over the past 12 months. Over the last ten years, PJP has returned 7.44% per year, falling short of the S&P 500 Index benchmark, which averaged 13.71% annually.
Invesco Dynamic Pharmaceuticals ETF
- 1D
- 1.74%
- 1M
- 4.87%
- YTD
- 9.74%
- 6M
- 7.29%
- 1Y
- 44.65%
- 3Y*
- 15.79%
- 5Y*
- 8.32%
- 10Y*
- 7.44%
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
PJP Monthly Returns History
Based on dividend-adjusted daily data since Jun 23, 2005, PJP's average daily return is +0.05%, while the average monthly return is +1.01%. At this rate, an investment would double in approximately 5.7 years.
Historically, 60% of months were positive and 40% were negative. The best month was Apr 2020 with a return of +13.5%, while the worst month was Jan 2016 at -12.3%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 5 months.
On a daily basis, PJP closed higher 53% of trading days. The best single day was Oct 13, 2008 with a return of +10.2%, while the worst single day was Mar 16, 2020 at -9.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.69% | 2.95% | -3.96% | 1.20% | 4.41% | 4.32% | 9.74% | ||||||
| 2025 | 4.11% | 0.84% | 0.17% | -5.43% | -2.36% | 0.20% | 1.08% | 12.86% | 1.77% | 4.79% | 9.54% | -1.31% | 27.98% |
| 2024 | -0.46% | 1.50% | 4.48% | -3.63% | 3.13% | 3.45% | 4.35% | 4.14% | -2.42% | -0.57% | 0.68% | -4.84% | 9.63% |
| 2023 | -0.10% | -3.08% | 0.14% | 2.03% | -4.00% | 1.82% | 2.96% | -0.27% | -6.56% | -4.65% | 2.54% | 7.83% | -2.18% |
| 2022 | -4.92% | -1.91% | 5.43% | -4.57% | -0.42% | -0.55% | 0.59% | -5.03% | -0.23% | 7.42% | 4.77% | -1.84% | -2.16% |
| 2021 | 8.14% | -0.75% | 3.13% | -1.15% | 0.87% | 2.49% | 0.87% | 1.24% | -5.64% | 2.31% | -2.17% | 5.02% | 14.58% |
Benchmark Metrics
Invesco Dynamic Pharmaceuticals ETF has an annualized alpha of 4.93%, beta of 0.74, and R2 of 0.56 versus S&P 500 Index. Calculated based on daily prices since June 23, 2005.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (87.94%) than losses (75.50%) - typical of diversified or defensive assets.
- This ETF generated an annualized alpha of 4.93% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Alpha
- 4.93%
- Beta
- 0.74
- R²
- 0.56
- Upside Capture
- 87.94%
- Downside Capture
- 75.50%
Expense Ratio
PJP has an expense ratio of 0.58%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PJP ranks 85 for risk / return — in the top 85% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Invesco Dynamic Pharmaceuticals ETF (PJP) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PJP | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.32 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 4.75 | 2.46 | +2.30 |
| Martin ratioReturn relative to average drawdown | 15.06 | 10.92 | +4.15 |
Dividends
Dividend History
Invesco Dynamic Pharmaceuticals ETF provided a 0.93% dividend yield over the last twelve months, with an annual payout of $1.06 per share. The fund has been increasing its distributions for 6 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.06 | $1.02 | $0.80 | $0.77 | $0.75 | $0.66 | $0.54 | $0.50 | $0.70 | $0.42 | $0.51 | $3.84 |
Dividend yield | 0.93% | 0.98% | 0.97% | 1.01% | 0.95% | 0.81% | 0.75% | 0.77% | 1.12% | 0.65% | 0.91% | 5.49% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco Dynamic Pharmaceuticals ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.31 | $0.00 | $0.00 | $0.27 | $0.58 | ||||||
| 2025 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.25 | $1.02 |
| 2024 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.22 | $0.80 |
| 2023 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.19 | $0.77 |
| 2022 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.17 | $0.75 |
| 2021 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.18 | $0.66 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Invesco Dynamic Pharmaceuticals ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Invesco Dynamic Pharmaceuticals ETF was 37.06%, occurring on Mar 23, 2020. Recovery took 206 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -37.06%Mar 2020 | 4y 8mo | 9mo 27d | 5y 5moJul 2015 - Jan 2021 |
Financial crisis2007–2009 | -36.16%Mar 2009 | 1y 10mo | 10mo 20d | 2y 8moMay 2007 - Jan 2010 |
2023 correction2023 | -17.51%Oct 2023 | 1y 6mo | 7mo 14d | 2y 1moApr 2022 - Jun 2024 |
2025 selloff2025 | -16.27%Apr 2025 | 5mo | 4mo 5d | 9mo 5dNov 2024 - Aug 2025 |
2011 correction2011 | -15.74%Aug 2011 | 28d | 4mo 1d | 4mo 29dJul 2011 - Dec 2011 |
Drawdown Indicators
| PJP | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.06% | -56.78% | +19.72% |
Max Drawdown (1Y)Largest decline over 1 year | -9.44% | -9.10% | -0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -16.27% | -18.90% | +2.63% |
Max Drawdown (5Y)Largest decline over 5 years | -17.51% | -25.43% | +7.92% |
Max Drawdown (10Y)Largest decline over 10 years | -33.95% | -33.92% | -0.03% |
Current DrawdownCurrent decline from peak | 0.00% | -3.21% | +3.21% |
Average DrawdownAverage peak-to-trough decline | -8.83% | -10.71% | +1.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | 2.04% | +0.93% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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