CTEX vs. PBTP
CTEX (ProShares S&P Kensho Cleantech ETF) and PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) are both exchange-traded funds - CTEX is a Alternative Energy Equities fund tracking the S&P Kensho Cleantech Index, while PBTP is a Inflation-Protected Bonds fund tracking the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y). Both are passively managed. Over the past 3 years, CTEX returned 11.07%/yr vs 4.96%/yr for PBTP. At a 0.10 correlation, their price movements are largely independent. CTEX charges 0.58%/yr vs 0.07%/yr for PBTP.
Performance
CTEX vs. PBTP - Performance Comparison
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Returns By Period
In the year-to-date period, CTEX achieves a 20.77% return, which is significantly higher than PBTP's 1.39% return.
CTEX
- 1D
- -6.36%
- 1M
- -8.02%
- YTD
- 20.77%
- 6M
- 16.43%
- 1Y
- 116.42%
- 3Y*
- 11.07%
- 5Y*
- —
- 10Y*
- —
PBTP
- 1D
- -0.03%
- 1M
- -0.33%
- YTD
- 1.39%
- 6M
- 1.53%
- 1Y
- 3.50%
- 3Y*
- 4.96%
- 5Y*
- 3.23%
- 10Y*
- —
CTEX vs. PBTP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CTEX ProShares S&P Kensho Cleantech ETF | 20.77% | 67.74% | -20.38% | -10.25% | -20.38% | -6.68% |
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 1.39% | 5.98% | 4.72% | 4.53% | -3.02% | 1.22% |
Correlation
The correlation between CTEX and PBTP is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.10 |
The correlation between CTEX and PBTP shifts across timeframes, from -0.12 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CTEX vs. PBTP — Risk / Return Rank
CTEX
PBTP
CTEX vs. PBTP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares S&P Kensho Cleantech ETF (CTEX) and Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP). 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.
| CTEX | PBTP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.45 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 5.35 | 4.63 | +0.72 |
| Martin ratioReturn relative to average drawdown | 13.69 | 16.62 | -2.93 |
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Drawdowns
CTEX vs. PBTP - Drawdown Comparison
The maximum CTEX drawdown since its inception was -70.31%, which is greater than PBTP's maximum drawdown of -5.44%. Use the drawdown chart below to compare losses from any high point for CTEX and PBTP.
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Drawdown Indicators
| CTEX | PBTP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.31% | -5.44% | -64.87% |
Max Drawdown (1Y)Largest decline over 1 year | -21.90% | -0.76% | -21.14% |
Max Drawdown (3Y)Largest decline over 3 years | -56.83% | -1.03% | -55.80% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.44% | — |
Current DrawdownCurrent decline from peak | -17.23% | -0.76% | -16.47% |
Average DrawdownAverage peak-to-trough decline | -41.61% | -0.75% | -40.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.53% | 0.21% | +8.32% |
Volatility
CTEX vs. PBTP - Volatility Comparison
ProShares S&P Kensho Cleantech ETF (CTEX) has a higher volatility of 19.24% compared to Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) at 0.63%. This indicates that CTEX's price experiences larger fluctuations and is considered to be riskier than PBTP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CTEX | PBTP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.24% | 0.63% | +18.61% |
Volatility (6M)Calculated over the trailing 6-month period | 32.48% | 1.17% | +31.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.17% | 1.62% | +42.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.59% | 2.85% | +40.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.59% | 2.64% | +40.95% |
CTEX vs. PBTP - Expense Ratio Comparison
CTEX has a 0.58% expense ratio, which is higher than PBTP's 0.07% expense ratio.
Dividends
CTEX vs. PBTP - Dividend Comparison
CTEX's dividend yield for the trailing twelve months is around 1.73%, less than PBTP's 4.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CTEX ProShares S&P Kensho Cleantech ETF | 1.73% | 2.17% | 0.57% | 0.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 4.82% | 3.82% | 2.59% | 2.36% | 5.33% | 3.12% | 1.25% | 2.12% | 2.33% | 0.73% |
Frequently Asked Questions
CTEX and PBTP have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CTEX has higher volatility (19.24%) compared to PBTP (0.63%). In terms of maximum drawdown, CTEX dropped -70.31% vs PBTP's -5.44%.
On 3-year performance, CTEX leads with 11.07% vs 4.96% for PBTP. On fees, PBTP is cheaper at 0.07% per year. On volatility, PBTP has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CTEX has performed better with a 11.07% return vs 4.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PBTP is cheaper with a 0.07% expense ratio, compared with 0.58% for CTEX.
PBTP has the higher dividend yield at 4.82%, compared with 1.73% for CTEX.
CTEX is categorized as Alternative Energy Equities, while PBTP is Inflation-Protected Bonds. CTEX tracks S&P Kensho Cleantech Index, while PBTP tracks ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y). They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.58% for CTEX and 0.07% for PBTP.
CTEX currently has the higher Sharpe Ratio (2.65 vs 2.18), 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.
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