EEMO vs. PXI

Last updated Jul 14, 2026

EEMO (Invesco S&P Emerging Markets Momentum ETF) and PXI (Invesco DWA Energy Momentum ETF) are both Momentum funds from Invesco - EEMO tracks the S&P Momentum Emerging Plus LargeMidCap Index while PXI tracks the Dorsey Wright Energy Technical Leaders Index. Both are passively managed. Over the past 10 years, EEMO returned 6.93%/yr vs 5.98%/yr for PXI. At a 0.32 correlation, their price movements are largely independent. EEMO charges 0.31%/yr vs 0.60%/yr for PXI.

Performance

EEMO vs. PXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Emerging Markets Momentum ETF (EEMO) and Invesco DWA Energy Momentum ETF (PXI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EEMO achieves a 21.17% return, which is significantly lower than PXI's 29.02% return. Over the past 10 years, EEMO has outperformed PXI with an annualized return of 6.93%, while PXI has yielded a comparatively lower 5.98% annualized return.

EEMO

• 1D: -6.80%
• 1M: -9.88%
• 6M: 14.98%
• YTD: 21.17%
• 1Y: 28.23%
• 3Y*: 16.74%
• 5Y*: 4.25%
• 10Y*: 6.93%

PXI

• 1D: 2.30%
• 1M: 0.07%
• 6M: 24.43%
• YTD: 29.02%
• 1Y: 33.12%
• 3Y*: 14.90%
• 5Y*: 18.42%
• 10Y*: 5.98%

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

EEMO vs. PXI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEMO Invesco S&P Emerging Markets Momentum ETF	21.17%	10.99%	9.88%	13.90%	-18.73%	-5.57%	9.66%	21.17%	-17.24%	49.65%
PXI Invesco DWA Energy Momentum ETF	29.02%	3.86%	0.76%	5.48%	45.85%	75.05%	-35.91%	1.67%	-27.56%	-8.42%

Correlation

The correlation between EEMO and PXI is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012	0.32

The correlation between EEMO and PXI shifts across timeframes, from -0.01 (1 year) to 0.35 (10 years), reflecting how their relationship changes across market environments.

EEMO vs. PXI - Sectors Allocation Comparison

Sectors	EEMO	PXI
Technology	53.0%	-
Financial Services	15.2%	0.3%
Basic Materials	11.0%	4.9%
Industrials	9.1%	0.9%
Consumer Cyclical	3.3%	-
Healthcare	2.3%	-
Energy	2.0%	95.1%
Utilities	1.5%	-
Communication Services	1.3%	-
Consumer Defensive	1.0%	-
Real Estate	0.4%	-

Return for Risk

EEMO vs. PXI — Risk / Return Rank

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

EEMO

EEMO Risk / Return Rank: 36
EEMO Sharpe Ratio Rank: 29
EEMO Sortino Ratio Rank: 30
EEMO Omega Ratio Rank: 38
EEMO Calmar Ratio Rank: 38
EEMO Martin Ratio Rank: 45

PXI

PXI Risk / Return Rank: 55
PXI Sharpe Ratio Rank: 55
PXI Sortino Ratio Rank: 51
PXI Omega Ratio Rank: 49
PXI Calmar Ratio Rank: 68
PXI Martin Ratio Rank: 54

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.

EEMO vs. PXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Emerging Markets Momentum ETF (EEMO) and Invesco DWA Energy Momentum ETF (PXI). 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.

	EEMO	PXI	Difference
Sharpe ratio: Return per unit of total volatility	0.86	1.49	-0.63
Sortino ratio: Return per unit of downside risk	1.33	2.01	-0.68
Omega ratio: Gain probability vs. loss probability	1.21	1.25	-0.04
Calmar ratio: Return relative to maximum drawdown	1.57	2.68	-1.11
Martin ratio: Return relative to average drawdown	5.95	7.29	-1.34

EEMO vs. PXI - Sharpe Ratio Comparison

The current EEMO Sharpe Ratio is 0.86, which is lower than the PXI Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of EEMO and PXI, 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

EEMO vs. PXI - Drawdown Comparison

The maximum EEMO drawdown since its inception was -48.47%, smaller than the maximum PXI drawdown of -85.08%. Use the drawdown chart below to compare losses from any high point for EEMO and PXI.

Drawdown Indicators

	EEMO	PXI	Difference
Max Drawdown Largest peak-to-trough decline	-48.47%	-85.08%	+36.61%
Max Drawdown (1Y) Largest decline over 1 year	-18.02%	-12.40%	-5.62%
Max Drawdown (3Y) Largest decline over 3 years	-26.06%	-30.74%	+4.68%
Max Drawdown (5Y) Largest decline over 5 years	-31.72%	-33.47%	+1.75%
Max Drawdown (10Y) Largest decline over 10 years	-46.57%	-79.55%	+32.98%
Current Drawdown Current decline from peak	-18.02%	-6.01%	-12.01%
Average Drawdown Average peak-to-trough decline	-20.08%	-29.32%	+9.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.76%	4.56%	+0.20%

Volatility

EEMO vs. PXI - Volatility Comparison

Invesco S&P Emerging Markets Momentum ETF (EEMO) has a higher volatility of 19.79% compared to Invesco DWA Energy Momentum ETF (PXI) at 7.31%. This indicates that EEMO's price experiences larger fluctuations and is considered to be riskier than PXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMO	PXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.79%	7.31%	+12.48%
Volatility (6M) Calculated over the trailing 6-month period	31.62%	17.49%	+14.13%
Volatility (1Y) Calculated over the trailing 1-year period	32.90%	22.36%	+10.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.63%	33.25%	-11.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.70%	36.99%	-14.29%

EEMO vs. PXI - Expense Ratio Comparison

EEMO has a 0.31% expense ratio, which is lower than PXI's 0.60% expense ratio.

Dividends

EEMO vs. PXI - Dividend Comparison

EEMO's dividend yield for the trailing twelve months is around 1.87%, more than PXI's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMO Invesco S&P Emerging Markets Momentum ETF	1.87%	2.31%	2.57%	3.65%	3.82%	1.51%	1.53%	2.13%	13.10%	5.13%	1.55%	2.92%
PXI Invesco DWA Energy Momentum ETF	1.27%	1.81%	1.52%	1.82%	3.14%	0.57%	1.72%	2.80%	0.93%	0.80%	0.73%	2.07%

Frequently Asked Questions

Can I hold both EEMO and PXI in my portfolio?

EEMO and PXI have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EEMO or PXI?

EEMO has higher volatility (19.79%) compared to PXI (7.31%). In terms of maximum drawdown, EEMO dropped -48.47% vs PXI's -85.08%.

Which ETF is better, EEMO or PXI?

On 10-year performance, EEMO leads with 6.93% vs 5.98% for PXI. On fees, EEMO is cheaper at 0.31% per year. On volatility, PXI has been the lower-risk option at 7.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEMO or PXI?

Over the 10-year period, EEMO has performed better with a 6.93% return vs 5.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEMO or PXI?

EEMO is cheaper with a 0.31% expense ratio, compared with 0.60% for PXI.

Which ETF pays a higher dividend yield, EEMO or PXI?

EEMO has the higher dividend yield at 1.87%, compared with 1.27% for PXI.

What is the main difference between EEMO and PXI?

EEMO tracks S&P Momentum Emerging Plus LargeMidCap Index, while PXI tracks Dorsey Wright Energy Technical Leaders Index. Their fees differ too: 0.31% for EEMO and 0.60% for PXI.

Which has better risk-adjusted returns?

PXI currently has the higher Sharpe Ratio (1.49 vs 0.86), 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.