ALIZY vs. PXH

Last updated Jun 4, 2026

ALIZY (Allianz SE ADR) is a stock, while PXH (Invesco FTSE RAFI Emerging Markets ETF) is Emerging Markets Equities fund tracking the FTSE RAFI Emerging Markets Index. Over the past 5 years, ALIZY returned 15.42%/yr vs 9.00%/yr for PXH. A 0.52 correlation means they provide meaningful diversification when combined.

Performance

ALIZY vs. PXH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allianz SE ADR (ALIZY) and Invesco FTSE RAFI Emerging Markets ETF (PXH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALIZY achieves a -2.98% return, which is significantly lower than PXH's 14.63% return.

ALIZY

• 1D: -2.19%
• 1M: 1.55%
• YTD: -2.98%
• 6M: 4.62%
• 1Y: 11.83%
• 3Y*: 29.66%
• 5Y*: 15.42%
• 10Y*: —

PXH

• 1D: -1.63%
• 1M: 3.38%
• YTD: 14.63%
• 6M: 15.56%
• 1Y: 36.41%
• 3Y*: 22.02%
• 5Y*: 9.00%
• 10Y*: 10.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ALIZY vs. PXH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ALIZY Allianz SE ADR	-2.98%	56.96%	20.60%	31.20%	-4.34%	0.09%	5.98%
PXH Invesco FTSE RAFI Emerging Markets ETF	14.63%	31.44%	12.09%	13.93%	-15.18%	8.31%	-2.05%

Correlation

The correlation between ALIZY and PXH is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jan 7, 2020	0.52

The correlation between ALIZY and PXH shifts across timeframes, from 0.38 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ALIZY vs. PXH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ALIZY

ALIZY Risk / Return Rank: 56
ALIZY Sharpe Ratio Rank: 60
ALIZY Sortino Ratio Rank: 52
ALIZY Omega Ratio Rank: 50
ALIZY Calmar Ratio Rank: 59
ALIZY Martin Ratio Rank: 61

PXH

PXH Risk / Return Rank: 71
PXH Sharpe Ratio Rank: 72
PXH Sortino Ratio Rank: 69
PXH Omega Ratio Rank: 72
PXH Calmar Ratio Rank: 71
PXH Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ALIZY vs. PXH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allianz SE ADR (ALIZY) and Invesco FTSE RAFI Emerging Markets ETF (PXH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ALIZY	PXH	Difference
Sharpe ratio: Return per unit of total volatility	0.59	2.39	-1.80
Sortino ratio: Return per unit of downside risk	0.94	3.20	-2.27
Omega ratio: Gain probability vs. loss probability	1.12	1.43	-0.32
Calmar ratio: Return relative to maximum drawdown	0.88	3.57	-2.70
Martin ratio: Return relative to average drawdown	2.27	13.29	-11.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALIZY vs. PXH - Sharpe Ratio Comparison

The current ALIZY Sharpe Ratio is 0.59, which is lower than the PXH Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of ALIZY and PXH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ALIZY	PXH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	2.39	-1.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.51	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.14	+0.40

Drawdowns

ALIZY vs. PXH - Drawdown Comparison

The maximum ALIZY drawdown since its inception was -49.10%, smaller than the maximum PXH drawdown of -63.63%. Use the drawdown chart below to compare losses from any high point for ALIZY and PXH.

Drawdown Indicators

	ALIZY	PXH	Difference
Max Drawdown Largest peak-to-trough decline	-49.10%	-63.63%	+14.53%
Max Drawdown (1Y) Largest decline over 1 year	-13.55%	-10.24%	-3.31%
Max Drawdown (3Y) Largest decline over 3 years	-13.55%	-17.72%	+4.17%
Max Drawdown (5Y) Largest decline over 5 years	-38.35%	-29.59%	-8.76%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.42%	—
Current Drawdown Current decline from peak	-5.78%	-1.63%	-4.15%
Average Drawdown Average peak-to-trough decline	-8.68%	-16.86%	+8.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.22%	2.75%	+2.47%

Volatility

ALIZY vs. PXH - Volatility Comparison

Allianz SE ADR (ALIZY) has a higher volatility of 7.28% compared to Invesco FTSE RAFI Emerging Markets ETF (PXH) at 5.43%. This indicates that ALIZY's price experiences larger fluctuations and is considered to be riskier than PXH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALIZY	PXH	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.28%	5.43%	+1.85%
Volatility (6M) Calculated over the trailing 6-month period	15.26%	12.30%	+2.96%
Volatility (1Y) Calculated over the trailing 1-year period	20.02%	15.31%	+4.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.18%	17.78%	+4.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.70%	20.07%	+7.63%

Dividends

ALIZY vs. PXH - Dividend Comparison

ALIZY's dividend yield for the trailing twelve months is around 4.58%, more than PXH's 3.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALIZY Allianz SE ADR	4.58%	3.71%	4.91%	4.70%	5.43%	4.87%	2.95%	0.00%	0.00%	0.00%	0.00%	0.00%
PXH Invesco FTSE RAFI Emerging Markets ETF	3.43%	4.02%	4.43%	4.84%	5.33%	4.69%	2.79%	3.28%	3.30%	2.74%	1.97%	3.44%

Frequently Asked Questions

Can I hold both ALIZY and PXH in my portfolio?

ALIZY and PXH have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ALIZY or PXH?

ALIZY has higher volatility (7.28%) compared to PXH (5.43%). In terms of maximum drawdown, ALIZY dropped -49.10% vs PXH's -63.63%.

Which has better risk-adjusted returns?

PXH currently has the higher Sharpe Ratio (2.39 vs 0.59), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.