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BBH vs. PBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BBH vs. PBE

Last updated Aug 2, 2026
Documentation

BBH (VanEck 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 6.22%/yr vs 8.19%/yr for PBE. Their correlation of 0.84 means they have usually moved in the same direction. 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 Biotech ETF (BBH) and Invesco Dynamic Biotechnology & Genome ETF (PBE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BBH achieves a 8.60% return, which is significantly lower than PBE's 10.26% return. Over the past 10 years, BBH has underperformed PBE with an annualized return of 6.22%, while PBE has yielded a comparatively higher 8.19% annualized return.

BBH

1D
-1.18%
1M
-2.74%
6M
4.53%
YTD
8.60%
1Y
27.08%
3Y*
9.52%
5Y*
0.34%
10Y*
6.22%
ALL TIME*
10.70%

PBE

1D
-1.64%
1M
-2.64%
6M
10.64%
YTD
10.26%
1Y
39.36%
3Y*
13.77%
5Y*
3.98%
10Y*
8.19%
ALL TIME*
9.16%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

BBH

VanEck Biotech ETF
$1.21M$1.12M$971.78K

PBE

Invesco Dynamic Biotechnology & Genome ETF
$494.21K$657.50K$547.45K

BBH vs. PBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BBH
VanEck Biotech ETF		8.60%21.18%-4.29%3.94%-15.25%11.81%22.13%26.34%-10.70%16.46%
PBE
Invesco Dynamic Biotechnology & Genome ETF		10.26%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 0.89, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.89

Correlation (3Y)
Balances recent behavior with more history.

0.86

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.87

Correlation (10Y)
Provides a long-term view across more market conditions.

0.86

Correlation (All Time)
Calculated using the full available price history since Jun 23, 2005

0.84

The correlation between BBH and PBE has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

BBH vs. PBE - Sectors Allocation Comparison

Sectors
BBH
PBE

Healthcare

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

0.1%

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Healthcare

BBH
100.0%
PBE
100.0%

Basic Materials

BBH

-

PBE

-

Communication Services

BBH

-

PBE

-

Consumer Cyclical

BBH

-

PBE

-

Consumer Defensive

BBH

-

PBE

-

Energy

BBH

-

PBE

-

Financial Services

BBH

-

PBE
0.1%

Industrials

BBH

-

PBE

-

Real Estate

BBH

-

PBE

-

Technology

BBH

-

PBE

-

Utilities

BBH

-

PBE

-

Compare stocks, funds, or ETFs

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VanEck Biotech ETF

Invesco Dynamic Biotechnology & Genome ETF

Often compared with BBH:
BBH vs. XBIBBH vs. IBBBBH vs. ARKGBBH vs. SMHBBH vs. FBTBBH vs. IBBQBBH vs. BIB
Often compared with PBE:
PBE vs. XBIPBE vs. ARKGPBE vs. IBBPBE vs. IDNAPBE vs. FBTPBE vs. PJPPBE vs. IBBQ

Return for Risk

BBH vs. PBE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
BBH
BBH Risk / Return Rank: 6262
Overall Rank
BBH Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
BBH Sortino Ratio Rank: 6464
Sortino Ratio Rank
BBH Omega Ratio Rank: 5656
Omega Ratio Rank
BBH Calmar Ratio Rank: 7676
Calmar Ratio Rank
BBH Martin Ratio Rank: 5353
Martin Ratio Rank
PBE
PBE Risk / Return Rank: 8585
Overall Rank
PBE Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
PBE Sortino Ratio Rank: 8989
Sortino Ratio Rank
PBE Omega Ratio Rank: 8484
Omega Ratio Rank
PBE Calmar Ratio Rank: 8787
Calmar Ratio Rank
PBE Martin Ratio Rank: 7676
Martin Ratio Rank
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.

BBH vs. PBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck 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.

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.

BBHPBEDifference
Sharpe ratioReturn per unit of total volatility
1.42
2.13

-0.71

Sortino ratioReturn per unit of downside risk
2.11
3.12

-1.00

Omega ratioGain probability vs. loss probability

1.25

1.36

-0.11

Calmar ratioReturn relative to maximum drawdown

2.62

3.42

-0.80

Martin ratioReturn relative to average drawdown

6.19

9.57

-3.38

BBH vs. PBE - Sharpe Ratio Comparison

The current BBH Sharpe Ratio is 1.42, which is lower than the PBE Sharpe Ratio of 2.13. 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.

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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.

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Drawdown Indicators

BBHPBEDifference

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

-4.63%

-3.83%

-0.80%

Average Drawdown

Average peak-to-trough decline

-20.67%

-16.13%

-4.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.45%

4.18%

+0.27%

Volatility

BBH vs. PBE - Volatility Comparison

VanEck Biotech ETF (BBH) has a higher volatility of 6.31% compared to Invesco Dynamic Biotechnology & Genome ETF (PBE) at 5.60%. 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.

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Volatility by Period

BBHPBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.31%

5.60%

+0.71%

Volatility (6M)

Calculated over the trailing 6-month period

14.80%

13.56%

+1.24%

Volatility (1Y)

Calculated over the trailing 1-year period

19.48%

18.83%

+0.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.54%

22.50%

-0.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.09%

24.73%

-2.64%

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 0.47%, less than PBE's 1.73% yield.

PositionTTM20252024202320222021202020192018201720162015
BBH
VanEck Biotech ETF		0.47%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		1.73%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

BBH and PBE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BBH has higher volatility (6.31%) compared to PBE (5.60%). In terms of maximum drawdown, BBH dropped -72.70% vs PBE's -45.69%.

On 10-year performance, PBE leads with 8.19% vs 6.22% for BBH. On fees, BBH is cheaper at 0.35% per year. On volatility, PBE has been the lower-risk option at 5.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, PBE has performed better with a 8.19% return vs 6.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

PBE has the higher dividend yield at 1.73%, compared with 0.47% for BBH.

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.

PBE currently has the higher Sharpe Ratio (2.13 vs 1.42), 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.

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