DVQQ vs. PBUS

Last updated Jun 5, 2026

DVQQ (WEBs QQQ Defined Volatility ETF) and PBUS (Invesco PureBeta MSCI USA ETF) are both Large Cap Growth Equities funds - DVQQ tracks the Syntax Defined Volatility Triple Qs Index while PBUS tracks the MSCI USA Index. Both are passively managed. Over the past year, DVQQ returned 48.51% vs 28.14% for PBUS. Their correlation of 0.91 suggests significant overlap in exposure. DVQQ charges 0.94%/yr vs 0.04%/yr for PBUS.

Performance

DVQQ vs. PBUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WEBs QQQ Defined Volatility ETF (DVQQ) and Invesco PureBeta MSCI USA ETF (PBUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVQQ achieves a 20.55% return, which is significantly higher than PBUS's 11.31% return.

DVQQ

• 1D: -0.69%
• 1M: 11.94%
• YTD: 20.55%
• 6M: 17.68%
• 1Y: 48.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PBUS

• 1D: 0.44%
• 1M: 4.73%
• YTD: 11.31%
• 6M: 11.04%
• 1Y: 28.14%
• 3Y*: 22.81%
• 5Y*: 13.58%
• 10Y*: —

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

DVQQ vs. PBUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DVQQ WEBs QQQ Defined Volatility ETF	20.55%	18.03%	-7.61%
PBUS Invesco PureBeta MSCI USA ETF	11.31%	17.58%	-2.87%

Correlation

The correlation between DVQQ and PBUS is 0.92, 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	0.92
Correlation (All Time) Calculated using the full available price history since Dec 18, 2024	0.91

The correlation between DVQQ and PBUS has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

Return for Risk

DVQQ vs. PBUS — Risk / Return Rank

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

DVQQ

DVQQ Risk / Return Rank: 58
DVQQ Sharpe Ratio Rank: 65
DVQQ Sortino Ratio Rank: 57
DVQQ Omega Ratio Rank: 59
DVQQ Calmar Ratio Rank: 56
DVQQ Martin Ratio Rank: 53

PBUS

PBUS Risk / Return Rank: 71
PBUS Sharpe Ratio Rank: 73
PBUS Sortino Ratio Rank: 72
PBUS Omega Ratio Rank: 72
PBUS Calmar Ratio Rank: 64
PBUS Martin Ratio Rank: 75

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.

DVQQ vs. PBUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs QQQ Defined Volatility ETF (DVQQ) and Invesco PureBeta MSCI USA ETF (PBUS). 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.

	DVQQ	PBUS	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.34	-0.21
Sortino ratio: Return per unit of downside risk	2.67	3.20	-0.52
Omega ratio: Gain probability vs. loss probability	1.35	1.42	-0.07
Calmar ratio: Return relative to maximum drawdown	2.73	3.13	-0.41
Martin ratio: Return relative to average drawdown	8.96	14.18	-5.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DVQQ vs. PBUS - Sharpe Ratio Comparison

The current DVQQ Sharpe Ratio is 2.13, which is comparable to the PBUS Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of DVQQ and PBUS, 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

	DVQQ	PBUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	2.34	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.80	+0.06

Drawdowns

DVQQ vs. PBUS - Drawdown Comparison

The maximum DVQQ drawdown since its inception was -25.09%, smaller than the maximum PBUS drawdown of -33.15%. Use the drawdown chart below to compare losses from any high point for DVQQ and PBUS.

Drawdown Indicators

	DVQQ	PBUS	Difference
Max Drawdown Largest peak-to-trough decline	-25.09%	-33.15%	+8.06%
Max Drawdown (1Y) Largest decline over 1 year	-17.89%	-9.02%	-8.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.40%	—
Current Drawdown Current decline from peak	-1.05%	-0.21%	-0.84%
Average Drawdown Average peak-to-trough decline	-7.14%	-5.13%	-2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.43%	1.99%	+3.44%

Volatility

DVQQ vs. PBUS - Volatility Comparison

WEBs QQQ Defined Volatility ETF (DVQQ) has a higher volatility of 6.30% compared to Invesco PureBeta MSCI USA ETF (PBUS) at 2.88%. This indicates that DVQQ's price experiences larger fluctuations and is considered to be riskier than PBUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVQQ	PBUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.30%	2.88%	+3.42%
Volatility (6M) Calculated over the trailing 6-month period	16.08%	9.13%	+6.95%
Volatility (1Y) Calculated over the trailing 1-year period	22.86%	12.06%	+10.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.34%	17.05%	+7.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.34%	19.33%	+5.01%

DVQQ vs. PBUS - Expense Ratio Comparison

DVQQ has a 0.94% expense ratio, which is higher than PBUS's 0.04% expense ratio.

Dividends

DVQQ vs. PBUS - Dividend Comparison

DVQQ's dividend yield for the trailing twelve months is around 0.03%, less than PBUS's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DVQQ WEBs QQQ Defined Volatility ETF	0.03%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PBUS Invesco PureBeta MSCI USA ETF	0.98%	1.05%	1.20%	1.36%	1.71%	0.98%	1.35%	1.53%	2.33%	0.50%

Frequently Asked Questions

Can I hold both DVQQ and PBUS in my portfolio?

With a correlation of 0.92, DVQQ and PBUS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DVQQ or PBUS?

DVQQ has higher volatility (6.30%) compared to PBUS (2.88%). In terms of maximum drawdown, DVQQ dropped -25.09% vs PBUS's -33.15%.

Which ETF is better, DVQQ or PBUS?

On 1-year performance, DVQQ leads with 48.51% vs 28.14% for PBUS. On fees, PBUS is cheaper at 0.04% per year. On volatility, PBUS has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVQQ or PBUS?

Over the 1-year period, DVQQ has performed better with a 48.51% return vs 28.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVQQ or PBUS?

PBUS is cheaper with a 0.04% expense ratio, compared with 0.94% for DVQQ.

Which ETF pays a higher dividend yield, DVQQ or PBUS?

PBUS has the higher dividend yield at 0.98%, compared with 0.03% for DVQQ.

What is the main difference between DVQQ and PBUS?

DVQQ tracks Syntax Defined Volatility Triple Qs Index, while PBUS tracks MSCI USA Index. They also come from different issuers: WEBs and Invesco. Their fees differ too: 0.94% for DVQQ and 0.04% for PBUS.

Which has better risk-adjusted returns?

PBUS currently has the higher Sharpe Ratio (2.34 vs 2.13), 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.