BBC vs. PJP

Last updated Aug 4, 2026

BBC (Virtus LifeSci Biotech Clinical Trials ETF) and PJP (Invesco Dynamic Pharmaceuticals ETF) are both Health & Biotech Equities funds - BBC tracks the LifeSci Biotechnology Clinical Trials Index while PJP tracks the Dynamic Pharmaceuticals Intellidex Index. Both are passively managed. Over the past 10 years, BBC returned 9.38%/yr vs 6.98%/yr for PJP. Their 0.66 correlation means they have sometimes moved together and sometimes differently. BBC charges 0.79%/yr vs 0.58%/yr for PJP.

Performance

BBC vs. PJP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus LifeSci Biotech Clinical Trials ETF (BBC) and Invesco Dynamic Pharmaceuticals ETF (PJP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBC achieves a 27.03% return, which is significantly higher than PJP's 17.06% return. Over the past 10 years, BBC has outperformed PJP with an annualized return of 9.38%, while PJP has yielded a comparatively lower 6.98% annualized return.

BBC

• 1D: 0.50%
• 1M: -7.22%
• 6M: 16.85%
• YTD: 27.03%
• 1Y: 132.20%
• 3Y*: 29.78%
• 5Y*: 2.55%
• 10Y*: 9.38%
• ALL TIME*: 6.30%

PJP

• 1D: 0.21%
• 1M: 0.66%
• 6M: 14.14%
• YTD: 17.06%
• 1Y: 49.30%
• 3Y*: 17.12%
• 5Y*: 9.41%
• 10Y*: 6.98%
• ALL TIME*: 11.75%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BBC Virtus LifeSci Biotech Clinical Trials ETF	$614.18K	$1.46M	$1.24M
PJP Invesco Dynamic Pharmaceuticals ETF	$6.54M	$7.65M	$3.59M

BBC vs. PJP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBC Virtus LifeSci Biotech Clinical Trials ETF	27.03%	63.77%	-1.11%	-1.80%	-35.13%	-22.31%	30.32%	63.81%	-18.29%	57.85%
PJP Invesco Dynamic Pharmaceuticals ETF	17.06%	27.98%	9.63%	-2.18%	-2.16%	14.58%	11.29%	4.64%	-1.78%	15.30%

Correlation

The correlation between BBC and PJP is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.56
Correlation (3Y) Balances recent behavior with more history.	0.61
Correlation (5Y) Shows whether the relationship held over a longer period.	0.62
Correlation (10Y) Provides a long-term view across more market conditions.	0.64
Correlation (All Time) Calculated using the full available price history since Dec 17, 2014	0.66

The correlation between BBC and PJP shifts across timeframes, from 0.56 (1 year) to 0.66 (all time), reflecting how their relationship changes across market environments.

BBC vs. PJP - Sectors Allocation Comparison

Sectors	BBC	PJP
Healthcare	100.0%	100.0%
Financial Services	0.8%	0.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BBC vs. PJP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BBC

BBC Risk / Return Rank: 96
BBC Sharpe Ratio Rank: 97
BBC Sortino Ratio Rank: 95
BBC Omega Ratio Rank: 93
BBC Calmar Ratio Rank: 98
BBC Martin Ratio Rank: 96

PJP

PJP Risk / Return Rank: 94
PJP Sharpe Ratio Rank: 96
PJP Sortino Ratio Rank: 95
PJP Omega Ratio Rank: 93
PJP Calmar Ratio Rank: 95
PJP Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BBC vs. PJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus LifeSci Biotech Clinical Trials ETF (BBC) and Invesco Dynamic Pharmaceuticals ETF (PJP). 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.

	BBC	PJP	Difference
Sharpe ratio: Return per unit of total volatility	3.65	2.96	+0.69
Sortino ratio: Return per unit of downside risk	4.08	4.16	-0.08
Omega ratio: Gain probability vs. loss probability	1.48	1.49	-0.01
Calmar ratio: Return relative to maximum drawdown	8.81	5.25	+3.56
Martin ratio: Return relative to average drawdown	23.93	16.43	+7.50

BBC vs. PJP - Sharpe Ratio Comparison

The current BBC Sharpe Ratio is 3.65, which is comparable to the PJP Sharpe Ratio of 2.96. The chart below compares the historical Sharpe Ratios of BBC and PJP, 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

BBC vs. PJP - Drawdown Comparison

The maximum BBC drawdown since its inception was -76.85%, which is greater than PJP's maximum drawdown of -37.06%. Use the drawdown chart below to compare losses from any high point for BBC and PJP.

Drawdown Indicators

	BBC	PJP	Difference
Max Drawdown Largest peak-to-trough decline	-76.85%	-37.06%	-39.79%
Max Drawdown (1Y) Largest decline over 1 year	-15.10%	-9.44%	-5.66%
Max Drawdown (3Y) Largest decline over 3 years	-54.45%	-16.27%	-38.18%
Max Drawdown (5Y) Largest decline over 5 years	-70.92%	-17.51%	-53.41%
Max Drawdown (10Y) Largest decline over 10 years	-76.85%	-33.95%	-42.90%
Current Drawdown Current decline from peak	-18.46%	-0.89%	-17.57%
Average Drawdown Average peak-to-trough decline	-36.87%	-8.79%	-28.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.55%	3.01%	+2.54%

Volatility

BBC vs. PJP - Volatility Comparison

Virtus LifeSci Biotech Clinical Trials ETF (BBC) has a higher volatility of 10.19% compared to Invesco Dynamic Pharmaceuticals ETF (PJP) at 5.29%. This indicates that BBC's price experiences larger fluctuations and is considered to be riskier than PJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBC	PJP	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.19%	5.29%	+4.90%
Volatility (6M) Calculated over the trailing 6-month period	26.25%	13.25%	+13.00%
Volatility (1Y) Calculated over the trailing 1-year period	36.52%	16.79%	+19.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.61%	16.37%	+23.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.72%	18.39%	+19.33%

BBC vs. PJP - Expense Ratio Comparison

BBC has a 0.79% expense ratio, which is higher than PJP's 0.58% expense ratio.

Dividends

BBC vs. PJP - Dividend Comparison

BBC's dividend yield for the trailing twelve months is around 1.34%, more than PJP's 0.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBC Virtus LifeSci Biotech Clinical Trials ETF	1.34%	1.70%	1.00%	0.34%	0.00%	0.00%	0.00%	0.00%	0.00%	2.09%	0.00%	0.51%
PJP Invesco Dynamic Pharmaceuticals ETF	0.88%	0.98%	0.97%	1.01%	0.95%	0.81%	0.75%	0.77%	1.12%	0.65%	0.91%	5.49%

Frequently Asked Questions

Can I hold both BBC and PJP in my portfolio?

BBC and PJP have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBC or PJP?

BBC has higher volatility (10.19%) compared to PJP (5.29%). In terms of maximum drawdown, BBC dropped -76.85% vs PJP's -37.06%.

Which ETF is better, BBC or PJP?

On 10-year performance, BBC leads with 9.38% vs 6.98% for PJP. On fees, PJP is cheaper at 0.58% per year. On volatility, PJP has been the lower-risk option at 5.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBC or PJP?

Over the 10-year period, BBC has performed better with a 9.38% return vs 6.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBC or PJP?

PJP is cheaper with a 0.58% expense ratio, compared with 0.79% for BBC.

Which ETF pays a higher dividend yield, BBC or PJP?

BBC has the higher dividend yield at 1.34%, compared with 0.88% for PJP.

What is the main difference between BBC and PJP?

BBC tracks LifeSci Biotechnology Clinical Trials Index, while PJP tracks Dynamic Pharmaceuticals Intellidex Index. They also come from different issuers: Virtus and Invesco. Their fees differ too: 0.79% for BBC and 0.58% for PJP.

Which has better risk-adjusted returns?

BBC currently has the higher Sharpe Ratio (3.65 vs 2.96), 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.