BBHL vs. PFM

Last updated Jun 5, 2026

BBHL (BBH Select Large Cap ETF) and PFM (Invesco Dividend Achievers™ ETF) are both Large Cap Growth Equities funds - BBHL tracks the Actively Managed while PFM tracks the NASDAQ US Broad Dividend Achievers Index. Both are passively managed. A 0.79 correlation means they provide meaningful diversification when combined. BBHL charges 0.71%/yr vs 0.53%/yr for PFM.

Performance

BBHL vs. PFM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BBH Select Large Cap ETF (BBHL) and Invesco Dividend Achievers™ ETF (PFM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBHL achieves a 6.39% return, which is significantly lower than PFM's 8.52% return.

BBHL

• 1D: 0.94%
• 1M: 4.01%
• YTD: 6.39%
• 6M: 6.61%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PFM

• 1D: 0.32%
• 1M: 2.96%
• YTD: 8.52%
• 6M: 8.38%
• 1Y: 20.19%
• 3Y*: 16.54%
• 5Y*: 10.71%
• 10Y*: 11.82%

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

BBHL vs. PFM - Yearly Performance Comparison

	2026 (YTD)	2025
BBHL BBH Select Large Cap ETF	6.39%	2.72%
PFM Invesco Dividend Achievers™ ETF	8.52%	2.51%

Correlation

The correlation between BBHL and PFM is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.79

Return for Risk

BBHL vs. PFM — Risk / Return Rank

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

PFM

PFM Risk / Return Rank: 65
PFM Sharpe Ratio Rank: 66
PFM Sortino Ratio Rank: 70
PFM Omega Ratio Rank: 66
PFM Calmar Ratio Rank: 58
PFM Martin Ratio Rank: 65

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.

BBHL vs. PFM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BBH Select Large Cap ETF (BBHL) and Invesco Dividend Achievers™ ETF (PFM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BBHL	PFM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.14	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.79	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.41	0.53	+0.89

Drawdowns

BBHL vs. PFM - Drawdown Comparison

The maximum BBHL drawdown since its inception was -11.99%, smaller than the maximum PFM drawdown of -53.21%. Use the drawdown chart below to compare losses from any high point for BBHL and PFM.

Drawdown Indicators

	BBHL	PFM	Difference
Max Drawdown Largest peak-to-trough decline	-11.99%	-53.21%	+41.22%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.09%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.22%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.98%	-6.94%	+3.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.75%	—

Volatility

Volatility by Period

	BBHL	PFM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.95%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.71%	9.46%	+3.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.71%	13.54%	-0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.71%	15.20%	-2.49%

BBHL vs. PFM - Expense Ratio Comparison

BBHL has a 0.71% expense ratio, which is higher than PFM's 0.53% expense ratio.

Dividends

BBHL vs. PFM - Dividend Comparison

BBHL has not paid dividends to shareholders, while PFM's dividend yield for the trailing twelve months is around 1.33%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBHL BBH Select Large Cap ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PFM Invesco Dividend Achievers™ ETF	1.33%	1.41%	1.58%	1.86%	1.95%	1.69%	1.92%	1.94%	2.27%	1.70%	2.56%	2.36%

Frequently Asked Questions

Can I hold both BBHL and PFM in my portfolio?

BBHL and PFM have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BBHL or PFM?

On fees, PFM is cheaper at 0.53% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BBHL or PFM?

PFM is cheaper with a 0.53% expense ratio, compared with 0.71% for BBHL.

Which ETF pays a higher dividend yield, BBHL or PFM?

PFM has the higher dividend yield at 1.33%, compared with 0.00% for BBHL.

What is the main difference between BBHL and PFM?

BBHL tracks Actively Managed, while PFM tracks NASDAQ US Broad Dividend Achievers Index. They also come from different issuers: BBH and Invesco. Their fees differ too: 0.71% for BBHL and 0.53% for PFM.