BBAI vs. PTF

Last updated Jun 13, 2026

BBAI (BigBear.ai Holdings, Inc.) is a stock, while PTF (Invesco DWA Technology Momentum ETF) is Momentum fund tracking the DWA Technology Technical Leaders Index. Over the past 3 years, BBAI returned 20.46%/yr vs 39.34%/yr for PTF. At a 0.36 correlation, their price movements are largely independent.

Performance

BBAI vs. PTF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BigBear.ai Holdings, Inc. (BBAI) and Invesco DWA Technology Momentum ETF (PTF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBAI achieves a -25.56% return, which is significantly lower than PTF's 69.64% return.

BBAI

• 1D: -2.90%
• 1M: -4.51%
• YTD: -25.56%
• 6M: -36.99%
• 1Y: 4.96%
• 3Y*: 20.46%
• 5Y*: —
• 10Y*: —

PTF

• 1D: 1.49%
• 1M: 6.00%
• YTD: 69.64%
• 6M: 66.68%
• 1Y: 95.99%
• 3Y*: 39.34%
• 5Y*: 21.88%
• 10Y*: 26.39%

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

BBAI vs. PTF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BBAI BigBear.ai Holdings, Inc.	-25.56%	21.35%	107.94%	217.65%	-88.10%	-27.90%
PTF Invesco DWA Technology Momentum ETF	69.64%	5.68%	43.65%	33.73%	-31.75%	6.47%

Correlation

The correlation between BBAI and PTF is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021	0.36

The correlation between BBAI and PTF shifts across timeframes, from 0.36 (all time) to 0.51 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

BBAI vs. PTF — Risk / Return Rank

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

BBAI

BBAI Risk / Return Rank: 47
BBAI Sharpe Ratio Rank: 44
BBAI Sortino Ratio Rank: 54
BBAI Omega Ratio Rank: 49
BBAI Calmar Ratio Rank: 45
BBAI Martin Ratio Rank: 44

PTF

PTF Risk / Return Rank: 83
PTF Sharpe Ratio Rank: 85
PTF Sortino Ratio Rank: 70
PTF Omega Ratio Rank: 74
PTF Calmar Ratio Rank: 92
PTF Martin Ratio Rank: 92

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.

BBAI vs. PTF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BigBear.ai Holdings, Inc. (BBAI) and Invesco DWA Technology Momentum ETF (PTF). 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.

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.

	BBAI	PTF	Difference
Sharpe ratio: Return per unit of total volatility	0.05	2.39	-2.34
Sortino ratio: Return per unit of downside risk	0.88	2.74	-1.85
Omega ratio: Gain probability vs. loss probability	1.09	1.38	-0.29
Calmar ratio: Return relative to maximum drawdown	0.08	5.36	-5.29
Martin ratio: Return relative to average drawdown	0.13	20.45	-20.33

BBAI vs. PTF - Sharpe Ratio Comparison

The current BBAI Sharpe Ratio is 0.05, which is lower than the PTF Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of BBAI and PTF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BBAI vs. PTF - Drawdown Comparison

The maximum BBAI drawdown since its inception was -95.01%, which is greater than PTF's maximum drawdown of -55.38%. Use the drawdown chart below to compare losses from any high point for BBAI and PTF.

Drawdown Indicators

	BBAI	PTF	Difference
Max Drawdown Largest peak-to-trough decline	-95.01%	-55.38%	-39.63%
Max Drawdown (1Y) Largest decline over 1 year	-65.88%	-17.99%	-47.89%
Max Drawdown (3Y) Largest decline over 3 years	-75.56%	-36.11%	-39.45%
Max Drawdown (5Y) Largest decline over 5 years	—	-44.88%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.88%	—
Current Drawdown Current decline from peak	-68.32%	-4.47%	-63.85%
Average Drawdown Average peak-to-trough decline	-70.80%	-13.26%	-57.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.29%	4.71%	+34.58%

Volatility

BBAI vs. PTF - Volatility Comparison

BigBear.ai Holdings, Inc. (BBAI) has a higher volatility of 25.86% compared to Invesco DWA Technology Momentum ETF (PTF) at 16.30%. This indicates that BBAI's price experiences larger fluctuations and is considered to be riskier than PTF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBAI	PTF	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.86%	16.30%	+9.56%
Volatility (6M) Calculated over the trailing 6-month period	56.70%	31.97%	+24.73%
Volatility (1Y) Calculated over the trailing 1-year period	97.19%	40.36%	+56.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	174.65%	35.34%	+139.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	174.65%	33.16%	+141.49%

Dividends

BBAI vs. PTF - Dividend Comparison

BBAI has not paid dividends to shareholders, while PTF's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BBAI BigBear.ai Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PTF Invesco DWA Technology Momentum ETF	0.01%	0.21%	0.00%	0.07%	0.00%	0.00%	0.00%	0.00%	0.08%	0.04%	0.26%

Frequently Asked Questions

Can I hold both BBAI and PTF in my portfolio?

BBAI and PTF have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBAI or PTF?

BBAI has higher volatility (25.86%) compared to PTF (16.30%). In terms of maximum drawdown, BBAI dropped -95.01% vs PTF's -55.38%.

Which has better risk-adjusted returns?

PTF currently has the higher Sharpe Ratio (2.39 vs 0.05), 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.