FV vs. PBUS

Last updated Jun 24, 2026

FV (First Trust Dorsey Wright Focus 5 ETF) and PBUS (Invesco PureBeta MSCI USA ETF) are both Large Cap Growth Equities funds - FV tracks the Dorsey Wright Focus Five Index while PBUS tracks the MSCI USA Index. Both are passively managed. Over the past 5 years, FV returned 9.69%/yr vs 12.60%/yr for PBUS. A 0.77 correlation means they provide meaningful diversification when combined. FV charges 0.87%/yr vs 0.04%/yr for PBUS.

Performance

FV vs. PBUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dorsey Wright Focus 5 ETF (FV) 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, FV achieves a 15.21% return, which is significantly higher than PBUS's 8.10% return.

FV

• 1D: -2.10%
• 1M: 1.40%
• YTD: 15.21%
• 6M: 13.75%
• 1Y: 25.68%
• 3Y*: 17.37%
• 5Y*: 9.69%
• 10Y*: 13.38%

PBUS

• 1D: -1.41%
• 1M: -1.27%
• YTD: 8.10%
• 6M: 7.04%
• 1Y: 23.30%
• 3Y*: 20.88%
• 5Y*: 12.60%
• 10Y*: —

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

FV vs. PBUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FV First Trust Dorsey Wright Focus 5 ETF	15.21%	7.23%	14.73%	11.34%	-3.93%	21.63%	28.36%	25.73%	-8.27%	6.97%
PBUS Invesco PureBeta MSCI USA ETF	8.10%	17.58%	24.99%	27.33%	-19.64%	26.77%	21.75%	31.60%	-4.77%	7.13%

Correlation

The correlation between FV and PBUS is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Sep 22, 2017	0.77

The correlation between FV and PBUS shifts across timeframes, from 0.77 (all time) to 0.88 (3 years), reflecting how their relationship changes across market environments.

FV vs. PBUS - Sectors Allocation Comparison

Sectors	FV	PBUS
Energy	34.8%	3.2%
Technology	23.5%	38.9%
Healthcare	20.5%	8.4%
Financial Services	19.8%	10.9%
Industrials	13.9%	8.1%
Consumer Cyclical	7.4%	9.9%
Communication Services	6.3%	10.7%
Real Estate	0.7%	1.8%
Basic Materials	-	1.7%
Consumer Defensive	-	4.4%
Utilities	-	2.0%

Return for Risk

FV vs. PBUS — Risk / Return Rank

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

FV

FV Risk / Return Rank: 45
FV Sharpe Ratio Rank: 48
FV Sortino Ratio Rank: 45
FV Omega Ratio Rank: 46
FV Calmar Ratio Rank: 41
FV Martin Ratio Rank: 46

PBUS

PBUS Risk / Return Rank: 58
PBUS Sharpe Ratio Rank: 58
PBUS Sortino Ratio Rank: 56
PBUS Omega Ratio Rank: 57
PBUS Calmar Ratio Rank: 56
PBUS Martin Ratio Rank: 66

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.

FV vs. PBUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright Focus 5 ETF (FV) 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.

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.

	FV	PBUS	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.84	-0.24
Sortino ratio: Return per unit of downside risk	2.17	2.50	-0.33
Omega ratio: Gain probability vs. loss probability	1.28	1.33	-0.05
Calmar ratio: Return relative to maximum drawdown	1.92	2.59	-0.68
Martin ratio: Return relative to average drawdown	7.14	11.32	-4.18

FV vs. PBUS - Sharpe Ratio Comparison

The current FV Sharpe Ratio is 1.60, which is comparable to the PBUS Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of FV 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.

Drawdowns

FV vs. PBUS - Drawdown Comparison

The maximum FV drawdown since its inception was -34.04%, roughly equal to the maximum PBUS drawdown of -33.15%. Use the drawdown chart below to compare losses from any high point for FV and PBUS.

Drawdown Indicators

	FV	PBUS	Difference
Max Drawdown Largest peak-to-trough decline	-34.04%	-33.15%	-0.89%
Max Drawdown (1Y) Largest decline over 1 year	-13.45%	-9.02%	-4.43%
Max Drawdown (3Y) Largest decline over 3 years	-23.08%	-19.07%	-4.01%
Max Drawdown (5Y) Largest decline over 5 years	-23.08%	-25.40%	+2.32%
Max Drawdown (10Y) Largest decline over 10 years	-34.04%	—	—
Current Drawdown Current decline from peak	-2.55%	-3.08%	+0.53%
Average Drawdown Average peak-to-trough decline	-5.81%	-5.11%	-0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	2.06%	+1.55%

Volatility

FV vs. PBUS - Volatility Comparison

First Trust Dorsey Wright Focus 5 ETF (FV) has a higher volatility of 6.72% compared to Invesco PureBeta MSCI USA ETF (PBUS) at 5.01%. This indicates that FV'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

	FV	PBUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.72%	5.01%	+1.71%
Volatility (6M) Calculated over the trailing 6-month period	13.67%	10.10%	+3.57%
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	12.77%	+3.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.92%	17.16%	+3.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.47%	19.34%	+2.13%

FV vs. PBUS - Expense Ratio Comparison

FV has a 0.87% expense ratio, which is higher than PBUS's 0.04% expense ratio.

Dividends

FV vs. PBUS - Dividend Comparison

FV's dividend yield for the trailing twelve months is around 0.53%, less than PBUS's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FV First Trust Dorsey Wright Focus 5 ETF	0.53%	0.63%	0.14%	0.47%	1.38%	0.11%	0.06%	0.56%	0.19%	0.67%	0.95%	0.14%
PBUS Invesco PureBeta MSCI USA ETF	1.04%	1.05%	1.20%	1.36%	1.71%	0.98%	1.35%	1.53%	2.33%	0.50%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FV and PBUS in my portfolio?

FV and PBUS have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FV or PBUS?

FV has higher volatility (6.72%) compared to PBUS (5.01%). In terms of maximum drawdown, FV dropped -34.04% vs PBUS's -33.15%.

Which ETF is better, FV or PBUS?

On 5-year performance, PBUS leads with 12.60% vs 9.69% for FV. On fees, PBUS is cheaper at 0.04% per year. On volatility, PBUS has been the lower-risk option at 5.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FV or PBUS?

Over the 5-year period, PBUS has performed better with a 12.60% return vs 9.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FV or PBUS?

PBUS is cheaper with a 0.04% expense ratio, compared with 0.87% for FV.

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

PBUS has the higher dividend yield at 1.04%, compared with 0.53% for FV.

What is the main difference between FV and PBUS?

FV tracks Dorsey Wright Focus Five Index, while PBUS tracks MSCI USA Index. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.87% for FV and 0.04% for PBUS.

Which has better risk-adjusted returns?

PBUS currently has the higher Sharpe Ratio (1.84 vs 1.60), 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.