GSY vs. PGR
GSY (Invesco Ultra Short Duration ETF) is Ultrashort Bond fund actively managed by Invesco, while PGR (The Progressive Corporation) is a stock. Over the past 10 years, GSY returned 2.88%/yr vs 23.82%/yr for PGR. At a correlation of -0.01, they often move in opposite directions.
Performance
GSY vs. PGR - Performance Comparison
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Returns By Period
In the year-to-date period, GSY achieves a 2.11% return, which is significantly higher than PGR's -0.79% return. Over the past 10 years, GSY has underperformed PGR with an annualized return of 2.88%, while PGR has yielded a comparatively higher 23.82% annualized return.
GSY
- 1D
- 0.02%
- 1M
- 0.35%
- 6M
- 1.91%
- YTD
- 2.11%
- 1Y
- 4.34%
- 3Y*
- 5.39%
- 5Y*
- 3.75%
- 10Y*
- 2.88%
- ALL TIME*
- 1.96%
PGR
- 1D
- 2.06%
- 1M
- 3.64%
- 6M
- 4.97%
- YTD
- -0.79%
- 1Y
- -8.28%
- 3Y*
- 23.12%
- 5Y*
- 20.34%
- 10Y*
- 23.82%
- ALL TIME*
- 16.86%
GSY vs. PGR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSY Invesco Ultra Short Duration ETF | 2.11% | 4.96% | 5.95% | 5.99% | 0.01% | 0.03% | 1.88% | 3.39% | 2.18% | 1.86% |
PGR The Progressive Corporation | -0.79% | -3.02% | 51.39% | 23.16% | 26.81% | 10.84% | 41.48% | 25.14% | 9.39% | 61.59% |
Correlation
The correlation between GSY and PGR is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2008 | -0.01 |
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Return for Risk
GSY vs. PGR — Risk / Return Rank
GSY
PGR
GSY vs. PGR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Ultra Short Duration ETF (GSY) and The Progressive Corporation (PGR). 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.
| GSY | PGR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +10.87 | ||
| Sortino ratioReturn per unit of downside risk | +24.48 | ||
| Omega ratioGain probability vs. loss probability | 5.84 | 0.96 | +4.88 |
| Calmar ratioReturn relative to maximum drawdown | 72.75 | -0.42 | +73.17 |
| Martin ratioReturn relative to average drawdown | 324.54 | -0.71 | +325.25 |
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Drawdowns
GSY vs. PGR - Drawdown Comparison
The maximum GSY drawdown since its inception was -12.14%, smaller than the maximum PGR drawdown of -71.06%. Use the drawdown chart below to compare losses from any high point for GSY and PGR.
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Drawdown Indicators
| GSY | PGR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.14% | -71.06% | +58.92% |
Max Drawdown (1Y)Largest decline over 1 year | -0.06% | -19.79% | +19.73% |
Max Drawdown (3Y)Largest decline over 3 years | -0.18% | -30.35% | +30.17% |
Max Drawdown (5Y)Largest decline over 5 years | -1.48% | -30.35% | +28.87% |
Max Drawdown (10Y)Largest decline over 10 years | -5.25% | -30.35% | +25.10% |
Current DrawdownCurrent decline from peak | 0.00% | -22.33% | +22.33% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -14.55% | +12.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 11.71% | -11.70% |
Volatility
GSY vs. PGR - Volatility Comparison
The current volatility for Invesco Ultra Short Duration ETF (GSY) is 0.13%, while The Progressive Corporation (PGR) has a volatility of 14.04%. This indicates that GSY experiences smaller price fluctuations and is considered to be less risky than PGR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSY | PGR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 14.04% | -13.91% |
Volatility (6M)Calculated over the trailing 6-month period | 0.32% | 20.19% | -19.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 25.34% | -24.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.59% | 25.16% | -24.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.22% | 24.79% | -23.57% |
Dividends
GSY vs. PGR - Dividend Comparison
GSY's dividend yield for the trailing twelve months is around 4.64%, less than PGR's 6.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSY Invesco Ultra Short Duration ETF | 4.64% | 4.56% | 5.31% | 4.95% | 1.70% | 0.58% | 1.45% | 2.71% | 2.30% | 1.80% | 1.21% | 1.17% |
PGR The Progressive Corporation | 6.55% | 2.15% | 0.48% | 0.25% | 0.31% | 6.23% | 2.68% | 3.89% | 1.86% | 1.21% | 2.50% | 2.16% |
Frequently Asked Questions
GSY and PGR have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGR has higher volatility (14.04%) compared to GSY (0.13%). In terms of maximum drawdown, GSY dropped -12.14% vs PGR's -71.06%.
GSY currently has the higher Sharpe Ratio (10.54 vs -0.33), 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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