FMTM vs. PXI

Last updated Jul 17, 2026

FMTM (MarketDesk Focused U.S. Momentum ETF) and PXI (Invesco DWA Energy Momentum ETF) are both Momentum funds. FMTM is actively managed, while PXI is passively managed. Over the past year, FMTM returned 46.82% vs 36.87% for PXI. At a 0.20 correlation, their price movements are largely independent. FMTM charges 0.45%/yr vs 0.60%/yr for PXI.

Performance

FMTM vs. PXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MarketDesk Focused U.S. Momentum ETF (FMTM) 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, FMTM achieves a 19.80% return, which is significantly lower than PXI's 29.33% return.

FMTM

• 1D: -3.31%
• 1M: -7.36%
• 6M: 9.77%
• YTD: 19.80%
• 1Y: 46.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PXI

• 1D: 0.36%
• 1M: 4.93%
• 6M: 21.82%
• YTD: 29.33%
• 1Y: 36.87%
• 3Y*: 14.84%
• 5Y*: 20.30%
• 10Y*: 5.99%

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

FMTM vs. PXI - Yearly Performance Comparison

	2026 (YTD)	2025
FMTM MarketDesk Focused U.S. Momentum ETF	19.80%	28.21%
PXI Invesco DWA Energy Momentum ETF	29.33%	4.18%

Correlation

The correlation between FMTM and PXI is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (All Time) Calculated using the full available price history since Mar 20, 2025	0.20

Return for Risk

FMTM vs. PXI — Risk / Return Rank

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

FMTM

FMTM Risk / Return Rank: 73
FMTM Sharpe Ratio Rank: 70
FMTM Sortino Ratio Rank: 61
FMTM Omega Ratio Rank: 62
FMTM Calmar Ratio Rank: 87
FMTM Martin Ratio Rank: 83

PXI

PXI Risk / Return Rank: 61
PXI Sharpe Ratio Rank: 63
PXI Sortino Ratio Rank: 57
PXI Omega Ratio Rank: 54
PXI Calmar Ratio Rank: 74
PXI Martin Ratio Rank: 59

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.

FMTM vs. PXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MarketDesk Focused U.S. Momentum ETF (FMTM) 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.

	FMTM	PXI	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.66	+0.14
Sortino ratio: Return per unit of downside risk	2.31	2.20	+0.11
Omega ratio: Gain probability vs. loss probability	1.30	1.27	+0.03
Calmar ratio: Return relative to maximum drawdown	3.88	2.99	+0.89
Martin ratio: Return relative to average drawdown	13.10	8.17	+4.93

FMTM vs. PXI - Sharpe Ratio Comparison

The current FMTM Sharpe Ratio is 1.80, which is comparable to the PXI Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of FMTM 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

FMTM vs. PXI - Drawdown Comparison

The maximum FMTM drawdown since its inception was -12.12%, smaller than the maximum PXI drawdown of -85.08%. Use the drawdown chart below to compare losses from any high point for FMTM and PXI.

Drawdown Indicators

	FMTM	PXI	Difference
Max Drawdown Largest peak-to-trough decline	-12.12%	-85.08%	+72.96%
Max Drawdown (1Y) Largest decline over 1 year	-12.12%	-12.40%	+0.28%
Max Drawdown (3Y) Largest decline over 3 years	—	-30.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-79.55%	—
Current Drawdown Current decline from peak	-11.78%	-5.78%	-6.00%
Average Drawdown Average peak-to-trough decline	-2.10%	-29.31%	+27.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	4.52%	-0.94%

Volatility

FMTM vs. PXI - Volatility Comparison

MarketDesk Focused U.S. Momentum ETF (FMTM) has a higher volatility of 11.19% compared to Invesco DWA Energy Momentum ETF (PXI) at 6.64%. This indicates that FMTM'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

	FMTM	PXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.19%	6.64%	+4.55%
Volatility (6M) Calculated over the trailing 6-month period	20.75%	17.57%	+3.18%
Volatility (1Y) Calculated over the trailing 1-year period	26.07%	22.32%	+3.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.68%	33.07%	-8.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.68%	36.97%	-12.29%

FMTM vs. PXI - Expense Ratio Comparison

FMTM has a 0.45% expense ratio, which is lower than PXI's 0.60% expense ratio.

Dividends

FMTM vs. PXI - Dividend Comparison

FMTM's dividend yield for the trailing twelve months is around 0.25%, less than PXI's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMTM MarketDesk Focused U.S. Momentum ETF	0.25%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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 FMTM and PXI in my portfolio?

FMTM and PXI have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMTM or PXI?

FMTM has higher volatility (11.19%) compared to PXI (6.64%). In terms of maximum drawdown, FMTM dropped -12.12% vs PXI's -85.08%.

Which ETF is better, FMTM or PXI?

On 1-year performance, FMTM leads with 46.82% vs 36.87% for PXI. On fees, FMTM is cheaper at 0.45% per year. On volatility, PXI has been the lower-risk option at 6.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FMTM or PXI?

Over the 1-year period, FMTM has performed better with a 46.82% return vs 36.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FMTM or PXI?

FMTM is cheaper with a 0.45% expense ratio, compared with 0.60% for PXI.

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

PXI has the higher dividend yield at 1.27%, compared with 0.25% for FMTM.

What is the main difference between FMTM and PXI?

Their fees differ too: 0.45% for FMTM and 0.60% for PXI.

Which has better risk-adjusted returns?

FMTM currently has the higher Sharpe Ratio (1.80 vs 1.66), 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.