GTOP vs. PXE

Last updated Jun 4, 2026

GTOP (Goldman Sachs Technology Opportunities ETF) and PXE (Invesco Dynamic Energy Exploration & Production ETF) are both exchange-traded funds - GTOP is a Technology Equities fund actively managed by Goldman Sachs, while PXE is a Energy Equities fund tracking the Dynamic Energy Exploration & Production Intellidex Index. GTOP is actively managed, while PXE is passively managed. At a correlation of -0.32, they often move in opposite directions. GTOP charges 0.65%/yr vs 0.63%/yr for PXE.

Performance

GTOP vs. PXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Technology Opportunities ETF (GTOP) and Invesco Dynamic Energy Exploration & Production ETF (PXE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GTOP achieves a 26.56% return, which is significantly lower than PXE's 33.64% return.

GTOP

• 1D: -1.04%
• 1M: 13.91%
• YTD: 26.56%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PXE

• 1D: 1.36%
• 1M: -4.42%
• YTD: 33.64%
• 6M: 22.49%
• 1Y: 37.56%
• 3Y*: 15.66%
• 5Y*: 18.55%
• 10Y*: 8.62%

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

GTOP vs. PXE - Yearly Performance Comparison

	2026 (YTD)	2025
GTOP Goldman Sachs Technology Opportunities ETF	26.56%	-1.21%
PXE Invesco Dynamic Energy Exploration & Production ETF	33.64%	-6.85%

Correlation

The correlation between GTOP and PXE is -0.32, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 9, 2025	-0.32

Return for Risk

GTOP vs. PXE — Risk / Return Rank

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

PXE

PXE Risk / Return Rank: 40
PXE Sharpe Ratio Rank: 38
PXE Sortino Ratio Rank: 35
PXE Omega Ratio Rank: 33
PXE Calmar Ratio Rank: 55
PXE Martin Ratio Rank: 41

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.

GTOP vs. PXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Technology Opportunities ETF (GTOP) and Invesco Dynamic Energy Exploration & Production ETF (PXE). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GTOP	PXE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.37	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.55	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.61	0.18	+2.44

Drawdowns

GTOP vs. PXE - Drawdown Comparison

The maximum GTOP drawdown since its inception was -14.47%, smaller than the maximum PXE drawdown of -83.99%. Use the drawdown chart below to compare losses from any high point for GTOP and PXE.

Drawdown Indicators

	GTOP	PXE	Difference
Max Drawdown Largest peak-to-trough decline	-14.47%	-83.99%	+69.52%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.89%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-37.65%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.65%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-80.17%	—
Current Drawdown Current decline from peak	-1.04%	-7.57%	+6.53%
Average Drawdown Average peak-to-trough decline	-3.39%	-27.99%	+24.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.73%	—

Volatility

Volatility by Period

	GTOP	PXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.57%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.76%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.75%	27.48%	-4.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.75%	33.66%	-10.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.75%	36.99%	-14.24%

GTOP vs. PXE - Expense Ratio Comparison

GTOP has a 0.65% expense ratio, which is higher than PXE's 0.63% expense ratio.

Dividends

GTOP vs. PXE - Dividend Comparison

GTOP has not paid dividends to shareholders, while PXE's dividend yield for the trailing twelve months is around 1.99%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GTOP Goldman Sachs Technology Opportunities ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PXE Invesco Dynamic Energy Exploration & Production ETF	1.99%	2.98%	2.54%	2.78%	3.03%	1.86%	4.10%	1.70%	1.29%	1.54%	6.62%	2.58%

Frequently Asked Questions

Can I hold both GTOP and PXE in my portfolio?

GTOP and PXE have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GTOP or PXE?

On fees, PXE is cheaper at 0.63% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GTOP or PXE?

PXE is cheaper with a 0.63% expense ratio, compared with 0.65% for GTOP.

Which ETF pays a higher dividend yield, GTOP or PXE?

PXE has the higher dividend yield at 1.99%, compared with 0.00% for GTOP.

What is the main difference between GTOP and PXE?

GTOP is categorized as Technology Equities, while PXE is Energy Equities. They also come from different issuers: Goldman Sachs and Invesco. Their fees differ too: 0.65% for GTOP and 0.63% for PXE.