BBH vs. PBE

Last updated Jun 3, 2026

BBH (VanEck Vectors Biotech ETF) and PBE (Invesco Dynamic Biotechnology & Genome ETF) are both Health & Biotech Equities funds - BBH tracks the MVIS US Listed Biotech 25 Index while PBE tracks the Dynamic Biotech & Genome Intellidex Index (AMEX). Both are passively managed. Over the past 10 years, BBH returned 5.52%/yr vs 7.34%/yr for PBE. Their correlation of 0.84 suggests significant overlap in exposure. BBH charges 0.35%/yr vs 0.59%/yr for PBE.

Performance

BBH vs. PBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Biotech ETF (BBH) and Invesco Dynamic Biotechnology & Genome ETF (PBE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBH achieves a -3.98% return, which is significantly lower than PBE's -1.43% return. Over the past 10 years, BBH has underperformed PBE with an annualized return of 5.52%, while PBE has yielded a comparatively higher 7.34% annualized return.

BBH

• 1D: -2.26%
• 1M: -0.77%
• YTD: -3.98%
• 6M: -6.02%
• 1Y: 22.25%
• 3Y*: 5.36%
• 5Y*: 0.21%
• 10Y*: 5.52%

PBE

• 1D: -2.22%
• 1M: 1.51%
• YTD: -1.43%
• 6M: -0.16%
• 1Y: 28.65%
• 3Y*: 9.70%
• 5Y*: 2.89%
• 10Y*: 7.34%

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

BBH vs. PBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBH VanEck Vectors Biotech ETF	-3.98%	21.18%	-4.29%	3.94%	-15.25%	11.81%	22.13%	26.34%	-10.70%	16.46%
PBE Invesco Dynamic Biotechnology & Genome ETF	-1.43%	24.84%	1.10%	3.71%	-10.83%	1.54%	25.66%	18.65%	-0.19%	22.28%

Correlation

The correlation between BBH and PBE is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jun 24, 2005	0.84

The correlation between BBH and PBE has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

BBH vs. PBE - Sectors Allocation Comparison

Sectors	BBH	PBE
Healthcare	99.9%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.0%
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BBH vs. PBE — Risk / Return Rank

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

BBH

BBH Risk / Return Rank: 35
BBH Sharpe Ratio Rank: 33
BBH Sortino Ratio Rank: 33
BBH Omega Ratio Rank: 31
BBH Calmar Ratio Rank: 43
BBH Martin Ratio Rank: 36

PBE

PBE Risk / Return Rank: 46
PBE Sharpe Ratio Rank: 44
PBE Sortino Ratio Rank: 47
PBE Omega Ratio Rank: 41
PBE Calmar Ratio Rank: 52
PBE Martin Ratio Rank: 44

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.

BBH vs. PBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Biotech ETF (BBH) and Invesco Dynamic Biotechnology & Genome ETF (PBE). 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.

	BBH	PBE	Difference
Sharpe ratio Return per unit of total volatility	1.18	1.55	-0.36
Sortino ratio Return per unit of downside risk	1.77	2.33	-0.56
Omega ratio Gain probability vs. loss probability	1.21	1.27	-0.06
Calmar ratio Return relative to maximum drawdown	2.19	2.62	-0.42
Martin ratio Return relative to average drawdown	5.64	7.37	-1.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBH vs. PBE - Sharpe Ratio Comparison

The current BBH Sharpe Ratio is 1.18, which is comparable to the PBE Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of BBH and PBE, 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

	BBH	PBE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	1.55	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.13	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	0.30	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.32	+0.06

Drawdowns

BBH vs. PBE - Drawdown Comparison

The maximum BBH drawdown since its inception was -72.70%, which is greater than PBE's maximum drawdown of -45.69%. Use the drawdown chart below to compare losses from any high point for BBH and PBE.

Drawdown Indicators

	BBH	PBE	Difference
Max Drawdown Largest peak-to-trough decline	-72.70%	-45.69%	-27.01%
Max Drawdown (1Y) Largest decline over 1 year	-10.55%	-11.73%	+1.18%
Max Drawdown (3Y) Largest decline over 3 years	-22.74%	-22.43%	-0.31%
Max Drawdown (5Y) Largest decline over 5 years	-39.86%	-34.71%	-5.15%
Max Drawdown (10Y) Largest decline over 10 years	-39.86%	-37.84%	-2.02%
Current Drawdown Current decline from peak	-15.68%	-5.55%	-10.13%
Average Drawdown Average peak-to-trough decline	-20.75%	-16.24%	-4.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.10%	4.17%	-0.07%

Volatility

BBH vs. PBE - Volatility Comparison

VanEck Vectors Biotech ETF (BBH) has a higher volatility of 5.79% compared to Invesco Dynamic Biotechnology & Genome ETF (PBE) at 5.33%. This indicates that BBH's price experiences larger fluctuations and is considered to be riskier than PBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBH	PBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	5.33%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	14.21%	13.30%	+0.91%
Volatility (1Y) Calculated over the trailing 1-year period	18.91%	18.67%	+0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.47%	22.52%	-1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.16%	24.91%	-2.75%

BBH vs. PBE - Expense Ratio Comparison

BBH has a 0.35% expense ratio, which is lower than PBE's 0.59% expense ratio.

Dividends

BBH vs. PBE - Dividend Comparison

BBH's dividend yield for the trailing twelve months is around 0.53%, less than PBE's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBH VanEck Vectors Biotech ETF	0.53%	0.51%	0.80%	0.43%	0.47%	0.21%	0.36%	0.34%	0.50%	0.55%	0.30%	0.27%
PBE Invesco Dynamic Biotechnology & Genome ETF	1.07%	1.00%	0.05%	0.02%	0.00%	0.00%	0.04%	0.00%	0.00%	0.57%	0.38%	1.12%

Frequently Asked Questions

Can I hold both BBH and PBE in my portfolio?

BBH and PBE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBH or PBE?

BBH has higher volatility (5.79%) compared to PBE (5.33%). In terms of maximum drawdown, BBH dropped -72.70% vs PBE's -45.69%.

Which ETF is better, BBH or PBE?

On 10-year performance, PBE leads with 7.34% vs 5.52% for BBH. On fees, BBH is cheaper at 0.35% per year. On volatility, PBE has been the lower-risk option at 5.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBH or PBE?

Over the 10-year period, PBE has performed better with a 7.34% return vs 5.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBH or PBE?

BBH is cheaper with a 0.35% expense ratio, compared with 0.59% for PBE.

Which ETF pays a higher dividend yield, BBH or PBE?

PBE has the higher dividend yield at 1.07%, compared with 0.53% for BBH.

What is the main difference between BBH and PBE?

BBH tracks MVIS US Listed Biotech 25 Index, while PBE tracks Dynamic Biotech & Genome Intellidex Index (AMEX). They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.35% for BBH and 0.59% for PBE.

Which has better risk-adjusted returns?

PBE currently has the higher Sharpe Ratio (1.55 vs 1.18), 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.