ERTH vs. PBD

Last updated Jun 4, 2026

ERTH (Invesco MSCI Sustainable Future ETF) and PBD (Invesco Global Clean Energy ETF) are both Alternative Energy Equities funds from Invesco - ERTH tracks the MSCI Global Environment Select Index while PBD tracks the WilderHill New Energy Global Innovation index. Both are passively managed. Over the past 10 years, ERTH returned 7.44%/yr vs 9.45%/yr for PBD. Their correlation of 0.83 suggests significant overlap in exposure. ERTH charges 0.55%/yr vs 0.75%/yr for PBD.

Performance

ERTH vs. PBD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI Sustainable Future ETF (ERTH) and Invesco Global Clean Energy ETF (PBD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ERTH achieves a 8.02% return, which is significantly lower than PBD's 38.50% return. Over the past 10 years, ERTH has underperformed PBD with an annualized return of 7.44%, while PBD has yielded a comparatively higher 9.45% annualized return.

ERTH

• 1D: -1.09%
• 1M: 3.19%
• YTD: 8.02%
• 6M: 9.21%
• 1Y: 22.54%
• 3Y*: 3.35%
• 5Y*: -3.76%
• 10Y*: 7.44%

PBD

• 1D: -0.93%
• 1M: 6.10%
• YTD: 38.50%
• 6M: 39.82%
• 1Y: 92.04%
• 3Y*: 8.96%
• 5Y*: -3.66%
• 10Y*: 9.45%

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

ERTH vs. PBD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ERTH Invesco MSCI Sustainable Future ETF	8.02%	18.47%	-13.56%	0.12%	-27.59%	2.64%	51.02%	36.78%	-12.49%	30.53%
PBD Invesco Global Clean Energy ETF	38.50%	43.65%	-26.39%	-10.69%	-29.70%	-22.30%	145.46%	40.00%	-19.32%	28.72%

Correlation

The correlation between ERTH and PBD is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jun 14, 2007	0.83

The correlation between ERTH and PBD has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.

ERTH vs. PBD - Sectors Allocation Comparison

Sectors	ERTH	PBD
Real Estate	26.7%	-
Industrials	21.0%	48.1%
Consumer Cyclical	14.3%	9.4%
Technology	10.5%	6.8%
Energy	8.5%	12.4%
Utilities	6.5%	12.0%
Basic Materials	2.3%	3.4%
Consumer Defensive	2.1%	0.9%
Financial Services	0.3%	1.2%
Communication Services	-	-
Healthcare	-	-

Return for Risk

ERTH vs. PBD — Risk / Return Rank

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

ERTH

ERTH Risk / Return Rank: 43
ERTH Sharpe Ratio Rank: 38
ERTH Sortino Ratio Rank: 37
ERTH Omega Ratio Rank: 36
ERTH Calmar Ratio Rank: 56
ERTH Martin Ratio Rank: 47

PBD

PBD Risk / Return Rank: 94
PBD Sharpe Ratio Rank: 95
PBD Sortino Ratio Rank: 93
PBD Omega Ratio Rank: 91
PBD Calmar Ratio Rank: 95
PBD Martin Ratio Rank: 94

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.

ERTH vs. PBD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Sustainable Future ETF (ERTH) and Invesco Global Clean Energy ETF (PBD). 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.

	ERTH	PBD	Difference
Sharpe ratio Return per unit of total volatility	1.36	3.96	-2.60
Sortino ratio Return per unit of downside risk	1.93	4.64	-2.71
Omega ratio Gain probability vs. loss probability	1.24	1.61	-0.37
Calmar ratio Return relative to maximum drawdown	2.81	8.65	-5.84
Martin ratio Return relative to average drawdown	7.79	26.96	-19.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ERTH vs. PBD - Sharpe Ratio Comparison

The current ERTH Sharpe Ratio is 1.36, which is lower than the PBD Sharpe Ratio of 3.96. The chart below compares the historical Sharpe Ratios of ERTH and PBD, 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

	ERTH	PBD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	3.96	-2.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	-0.13	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.35	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.03	+0.18

Drawdowns

ERTH vs. PBD - Drawdown Comparison

The maximum ERTH drawdown since its inception was -64.45%, smaller than the maximum PBD drawdown of -78.60%. Use the drawdown chart below to compare losses from any high point for ERTH and PBD.

Drawdown Indicators

	ERTH	PBD	Difference
Max Drawdown Largest peak-to-trough decline	-64.45%	-78.60%	+14.15%
Max Drawdown (1Y) Largest decline over 1 year	-8.07%	-10.70%	+2.63%
Max Drawdown (3Y) Largest decline over 3 years	-33.82%	-52.45%	+18.63%
Max Drawdown (5Y) Largest decline over 5 years	-51.72%	-69.15%	+17.43%
Max Drawdown (10Y) Largest decline over 10 years	-51.72%	-75.40%	+23.68%
Current Drawdown Current decline from peak	-27.23%	-39.02%	+11.79%
Average Drawdown Average peak-to-trough decline	-21.47%	-53.40%	+31.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	3.43%	-0.53%

Volatility

ERTH vs. PBD - Volatility Comparison

The current volatility for Invesco MSCI Sustainable Future ETF (ERTH) is 5.20%, while Invesco Global Clean Energy ETF (PBD) has a volatility of 8.57%. This indicates that ERTH experiences smaller price fluctuations and is considered to be less risky than PBD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ERTH	PBD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.20%	8.57%	-3.37%
Volatility (6M) Calculated over the trailing 6-month period	11.80%	17.00%	-5.20%
Volatility (1Y) Calculated over the trailing 1-year period	16.73%	23.41%	-6.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.85%	28.37%	-5.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.62%	27.26%	-4.64%

ERTH vs. PBD - Expense Ratio Comparison

ERTH has a 0.55% expense ratio, which is lower than PBD's 0.75% expense ratio.

Dividends

ERTH vs. PBD - Dividend Comparison

ERTH's dividend yield for the trailing twelve months is around 1.38%, less than PBD's 1.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ERTH Invesco MSCI Sustainable Future ETF	1.38%	1.46%	1.00%	1.28%	1.22%	15.33%	0.21%	0.71%	0.61%	0.87%	1.06%	0.79%
PBD Invesco Global Clean Energy ETF	1.63%	2.71%	1.81%	2.85%	2.98%	0.67%	0.48%	1.83%	1.86%	1.76%	2.04%	1.24%

Frequently Asked Questions

Can I hold both ERTH and PBD in my portfolio?

ERTH and PBD have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ERTH or PBD?

PBD has higher volatility (8.57%) compared to ERTH (5.20%). In terms of maximum drawdown, ERTH dropped -64.45% vs PBD's -78.60%.

Which ETF is better, ERTH or PBD?

On 10-year performance, PBD leads with 9.45% vs 7.44% for ERTH. On fees, ERTH is cheaper at 0.55% per year. On volatility, ERTH has been the lower-risk option at 5.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ERTH or PBD?

Over the 10-year period, PBD has performed better with a 9.45% return vs 7.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ERTH or PBD?

ERTH is cheaper with a 0.55% expense ratio, compared with 0.75% for PBD.

Which ETF pays a higher dividend yield, ERTH or PBD?

PBD has the higher dividend yield at 1.63%, compared with 1.38% for ERTH.

What is the main difference between ERTH and PBD?

ERTH tracks MSCI Global Environment Select Index, while PBD tracks WilderHill New Energy Global Innovation index. Their fees differ too: 0.55% for ERTH and 0.75% for PBD.

Which has better risk-adjusted returns?

PBD currently has the higher Sharpe Ratio (3.96 vs 1.36), 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.