BBP vs. PJP

Last updated Jun 24, 2026

BBP (Virtus LifeSci Biotech Products ETF) and PJP (Invesco Dynamic Pharmaceuticals ETF) are both Health & Biotech Equities funds - BBP tracks the LifeSci Biotechnology Products Index while PJP tracks the Dynamic Pharmaceuticals Intellidex Index. Both are passively managed. Over the past 10 years, BBP returned 13.69%/yr vs 7.44%/yr for PJP. A 0.75 correlation means they provide meaningful diversification when combined. BBP charges 0.79%/yr vs 0.58%/yr for PJP.

Performance

BBP vs. PJP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus LifeSci Biotech Products ETF (BBP) 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, BBP achieves a 16.04% return, which is significantly higher than PJP's 9.74% return. Over the past 10 years, BBP has outperformed PJP with an annualized return of 13.69%, while PJP has yielded a comparatively lower 7.44% annualized return.

BBP

• 1D: 1.20%
• 1M: 7.69%
• YTD: 16.04%
• 6M: 14.38%
• 1Y: 59.95%
• 3Y*: 20.40%
• 5Y*: 11.34%
• 10Y*: 13.69%

PJP

• 1D: 1.74%
• 1M: 4.87%
• YTD: 9.74%
• 6M: 7.29%
• 1Y: 44.65%
• 3Y*: 15.79%
• 5Y*: 8.32%
• 10Y*: 7.44%

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

BBP vs. PJP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBP Virtus LifeSci Biotech Products ETF	16.04%	33.15%	3.32%	17.88%	0.85%	-8.17%	22.24%	24.73%	-13.95%	24.07%
PJP Invesco Dynamic Pharmaceuticals ETF	9.74%	27.98%	9.63%	-2.18%	-2.16%	14.58%	11.29%	4.64%	-1.78%	15.30%

Correlation

The correlation between BBP and PJP is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Dec 17, 2014	0.75

The correlation between BBP and PJP has been stable across timeframes, ranging from 0.72 to 0.75 - a consistent structural relationship.

BBP vs. PJP - Sectors Allocation Comparison

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

Return for Risk

BBP vs. PJP — Risk / Return Rank

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

BBP

BBP Risk / Return Rank: 85
BBP Sharpe Ratio Rank: 84
BBP Sortino Ratio Rank: 82
BBP Omega Ratio Rank: 73
BBP Calmar Ratio Rank: 94
BBP Martin Ratio Rank: 91

PJP

PJP Risk / Return Rank: 85
PJP Sharpe Ratio Rank: 87
PJP Sortino Ratio Rank: 88
PJP Omega Ratio Rank: 81
PJP Calmar Ratio Rank: 87
PJP Martin Ratio Rank: 81

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.

BBP vs. PJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus LifeSci Biotech Products ETF (BBP) 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.

	BBP	PJP	Difference
Sharpe ratio: Return per unit of total volatility	2.52	2.71	-0.19
Sortino ratio: Return per unit of downside risk	3.42	3.79	-0.37
Omega ratio: Gain probability vs. loss probability	1.40	1.45	-0.05
Calmar ratio: Return relative to maximum drawdown	6.49	4.75	+1.74
Martin ratio: Return relative to average drawdown	20.18	15.06	+5.12

BBP vs. PJP - Sharpe Ratio Comparison

The current BBP Sharpe Ratio is 2.52, which is comparable to the PJP Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of BBP 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

BBP vs. PJP - Drawdown Comparison

The maximum BBP drawdown since its inception was -44.32%, which is greater than PJP's maximum drawdown of -37.06%. Use the drawdown chart below to compare losses from any high point for BBP and PJP.

Drawdown Indicators

	BBP	PJP	Difference
Max Drawdown Largest peak-to-trough decline	-44.32%	-37.06%	-7.26%
Max Drawdown (1Y) Largest decline over 1 year	-9.28%	-9.44%	+0.16%
Max Drawdown (3Y) Largest decline over 3 years	-26.09%	-16.27%	-9.82%
Max Drawdown (5Y) Largest decline over 5 years	-37.89%	-17.51%	-20.38%
Max Drawdown (10Y) Largest decline over 10 years	-44.32%	-33.95%	-10.37%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-11.98%	-8.83%	-3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	2.97%	+0.01%

Volatility

BBP vs. PJP - Volatility Comparison

Virtus LifeSci Biotech Products ETF (BBP) has a higher volatility of 6.46% compared to Invesco Dynamic Pharmaceuticals ETF (PJP) at 5.39%. This indicates that BBP'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

	BBP	PJP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.46%	5.39%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	18.88%	12.46%	+6.42%
Volatility (1Y) Calculated over the trailing 1-year period	23.96%	16.58%	+7.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.37%	16.20%	+10.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.39%	18.37%	+9.02%

BBP vs. PJP - Expense Ratio Comparison

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

Dividends

BBP vs. PJP - Dividend Comparison

BBP has not paid dividends to shareholders, while PJP's dividend yield for the trailing twelve months is around 0.93%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBP Virtus LifeSci Biotech Products ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.18%	0.00%	1.29%
PJP Invesco Dynamic Pharmaceuticals ETF	0.93%	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 BBP and PJP in my portfolio?

BBP and PJP have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBP or PJP?

BBP has higher volatility (6.46%) compared to PJP (5.39%). In terms of maximum drawdown, BBP dropped -44.32% vs PJP's -37.06%.

Which ETF is better, BBP or PJP?

On 10-year performance, BBP leads with 13.69% vs 7.44% for PJP. On fees, PJP is cheaper at 0.58% per year. On volatility, PJP has been the lower-risk option at 5.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBP or PJP?

Over the 10-year period, BBP has performed better with a 13.69% return vs 7.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBP or PJP?

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

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

PJP has the higher dividend yield at 0.93%, compared with 0.00% for BBP.

What is the main difference between BBP and PJP?

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

Which has better risk-adjusted returns?

PJP currently has the higher Sharpe Ratio (2.71 vs 2.52), 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.