GMOM vs. PTH
GMOM (Cambria Global Momentum ETF) and PTH (Invesco DWA Healthcare Momentum ETF) are both Momentum funds. GMOM is actively managed, while PTH is passively managed. Over the past 10 years, GMOM returned 6.89%/yr vs 14.68%/yr for PTH. At a 0.39 correlation, their price movements are largely independent. GMOM charges 0.96%/yr vs 0.60%/yr for PTH.
Performance
GMOM vs. PTH - Performance Comparison
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Returns By Period
In the year-to-date period, GMOM achieves a 7.75% return, which is significantly lower than PTH's 18.11% return. Over the past 10 years, GMOM has underperformed PTH with an annualized return of 6.89%, while PTH has yielded a comparatively higher 14.68% annualized return.
GMOM
- 1D
- -0.19%
- 1M
- -1.70%
- 6M
- 3.06%
- YTD
- 7.75%
- 1Y
- 21.83%
- 3Y*
- 11.10%
- 5Y*
- 7.07%
- 10Y*
- 6.89%
PTH
- 1D
- -2.00%
- 1M
- 13.65%
- 6M
- 20.08%
- YTD
- 18.11%
- 1Y
- 59.34%
- 3Y*
- 14.43%
- 5Y*
- 2.13%
- 10Y*
- 14.68%
GMOM vs. PTH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GMOM Cambria Global Momentum ETF | 7.75% | 20.63% | 6.75% | 0.65% | -2.82% | 19.13% | 2.42% | 8.24% | -9.61% | 20.67% |
PTH Invesco DWA Healthcare Momentum ETF | 18.11% | 27.91% | 2.36% | -4.54% | -20.61% | -3.20% | 67.26% | 34.45% | -1.23% | 50.15% |
Correlation
The correlation between GMOM and PTH is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2014 | 0.39 |
The correlation between GMOM and PTH shifts across timeframes, from 0.31 (1 year) to 0.41 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GMOM vs. PTH — Risk / Return Rank
GMOM
PTH
GMOM vs. PTH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cambria Global Momentum ETF (GMOM) and Invesco DWA Healthcare Momentum ETF (PTH). 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.
| GMOM | PTH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.39 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 4.98 | -2.69 |
| Martin ratioReturn relative to average drawdown | 7.25 | 12.59 | -5.34 |
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Drawdowns
GMOM vs. PTH - Drawdown Comparison
The maximum GMOM drawdown since its inception was -25.03%, smaller than the maximum PTH drawdown of -53.52%. Use the drawdown chart below to compare losses from any high point for GMOM and PTH.
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Drawdown Indicators
| GMOM | PTH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.03% | -53.52% | +28.49% |
Max Drawdown (1Y)Largest decline over 1 year | -9.57% | -11.98% | +2.41% |
Max Drawdown (3Y)Largest decline over 3 years | -13.73% | -27.74% | +14.01% |
Max Drawdown (5Y)Largest decline over 5 years | -19.16% | -50.07% | +30.91% |
Max Drawdown (10Y)Largest decline over 10 years | -25.03% | -53.52% | +28.49% |
Current DrawdownCurrent decline from peak | -5.42% | -4.82% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -16.95% | +9.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 4.73% | -1.71% |
Volatility
GMOM vs. PTH - Volatility Comparison
The current volatility for Cambria Global Momentum ETF (GMOM) is 4.48%, while Invesco DWA Healthcare Momentum ETF (PTH) has a volatility of 7.18%. This indicates that GMOM experiences smaller price fluctuations and is considered to be less risky than PTH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GMOM | PTH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.48% | 7.18% | -2.70% |
Volatility (6M)Calculated over the trailing 6-month period | 12.04% | 19.19% | -7.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.63% | 24.33% | -9.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.45% | 25.67% | -11.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.92% | 27.32% | -14.40% |
GMOM vs. PTH - Expense Ratio Comparison
GMOM has a 0.96% expense ratio, which is higher than PTH's 0.60% expense ratio.
Dividends
GMOM vs. PTH - Dividend Comparison
GMOM's dividend yield for the trailing twelve months is around 1.51%, less than PTH's 2.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GMOM Cambria Global Momentum ETF | 1.51% | 3.01% | 2.16% | 3.63% | 2.52% | 3.42% | 1.24% | 2.60% | 1.90% | 2.05% | 1.77% | 1.88% |
PTH Invesco DWA Healthcare Momentum ETF | 2.60% | 3.07% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GMOM and PTH have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTH has higher volatility (7.18%) compared to GMOM (4.48%). In terms of maximum drawdown, GMOM dropped -25.03% vs PTH's -53.52%.
On 10-year performance, PTH leads with 14.68% vs 6.89% for GMOM. On fees, PTH is cheaper at 0.60% per year. On volatility, GMOM has been the lower-risk option at 4.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PTH has performed better with a 14.68% return vs 6.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PTH is cheaper with a 0.60% expense ratio, compared with 0.96% for GMOM.
PTH has the higher dividend yield at 2.60%, compared with 1.51% for GMOM.
They also come from different issuers: Cambria and Invesco. Their fees differ too: 0.96% for GMOM and 0.60% for PTH.
PTH currently has the higher Sharpe Ratio (2.46 vs 1.50), 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.
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