IXC vs. PXE

Last updated Jun 4, 2026

IXC (iShares Global Energy ETF) and PXE (Invesco Dynamic Energy Exploration & Production ETF) are both Energy Equities funds - IXC tracks the S&P Global Energy Sector Index while PXE tracks the Dynamic Energy Exploration & Production Intellidex Index. Both are passively managed. Over the past 10 years, IXC returned 10.29%/yr vs 8.62%/yr for PXE. Their correlation of 0.89 suggests significant overlap in exposure. IXC charges 0.46%/yr vs 0.63%/yr for PXE.

Performance

IXC vs. PXE - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with IXC having a 32.22% return and PXE slightly higher at 33.64%. Over the past 10 years, IXC has outperformed PXE with an annualized return of 10.29%, while PXE has yielded a comparatively lower 8.62% annualized return.

IXC

• 1D: 0.87%
• 1M: -1.75%
• YTD: 32.22%
• 6M: 30.00%
• 1Y: 48.10%
• 3Y*: 18.84%
• 5Y*: 19.64%
• 10Y*: 10.29%

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)

IXC vs. PXE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IXC iShares Global Energy ETF	32.22%	13.98%	1.95%	3.92%	48.51%	40.88%	-31.00%	12.67%	-14.85%	5.54%
PXE Invesco Dynamic Energy Exploration & Production ETF	33.64%	-2.82%	-1.86%	7.69%	58.32%	94.04%	-36.76%	-1.69%	-23.35%	1.02%

Correlation

The correlation between IXC and PXE is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Oct 27, 2005	0.89

The correlation between IXC and PXE has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

IXC vs. PXE - Sectors Allocation Comparison

Sectors	IXC	PXE
Energy	100.0%	97.4%
Basic Materials	-	2.6%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	0.3%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IXC vs. PXE — Risk / Return Rank

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

IXC

IXC Risk / Return Rank: 76
IXC Sharpe Ratio Rank: 78
IXC Sortino Ratio Rank: 70
IXC Omega Ratio Rank: 68
IXC Calmar Ratio Rank: 87
IXC Martin Ratio Rank: 77

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.

IXC vs. PXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Energy ETF (IXC) 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.

	IXC	PXE	Difference
Sharpe ratio: Return per unit of total volatility	2.58	1.37	+1.21
Sortino ratio: Return per unit of downside risk	3.25	1.86	+1.39
Omega ratio: Gain probability vs. loss probability	1.42	1.23	+0.19
Calmar ratio: Return relative to maximum drawdown	5.00	2.72	+2.29
Martin ratio: Return relative to average drawdown	15.10	6.58	+8.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IXC vs. PXE - Sharpe Ratio Comparison

The current IXC Sharpe Ratio is 2.58, which is higher than the PXE Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of IXC and PXE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IXC	PXE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	1.37	+1.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.55	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.23	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.18	+0.14

Drawdowns

IXC vs. PXE - Drawdown Comparison

The maximum IXC drawdown since its inception was -67.88%, smaller than the maximum PXE drawdown of -83.99%. Use the drawdown chart below to compare losses from any high point for IXC and PXE.

Drawdown Indicators

	IXC	PXE	Difference
Max Drawdown Largest peak-to-trough decline	-67.88%	-83.99%	+16.11%
Max Drawdown (1Y) Largest decline over 1 year	-9.66%	-13.89%	+4.23%
Max Drawdown (3Y) Largest decline over 3 years	-19.06%	-37.65%	+18.59%
Max Drawdown (5Y) Largest decline over 5 years	-24.93%	-37.65%	+12.72%
Max Drawdown (10Y) Largest decline over 10 years	-64.16%	-80.17%	+16.01%
Current Drawdown Current decline from peak	-4.84%	-7.57%	+2.73%
Average Drawdown Average peak-to-trough decline	-17.48%	-27.99%	+10.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	5.73%	-2.53%

Volatility

IXC vs. PXE - Volatility Comparison

The current volatility for iShares Global Energy ETF (IXC) is 7.50%, while Invesco Dynamic Energy Exploration & Production ETF (PXE) has a volatility of 9.57%. This indicates that IXC experiences smaller price fluctuations and is considered to be less risky than PXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IXC	PXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.50%	9.57%	-2.07%
Volatility (6M) Calculated over the trailing 6-month period	15.42%	20.76%	-5.34%
Volatility (1Y) Calculated over the trailing 1-year period	18.75%	27.48%	-8.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.50%	33.66%	-10.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.85%	36.99%	-10.14%

IXC vs. PXE - Expense Ratio Comparison

IXC has a 0.46% expense ratio, which is lower than PXE's 0.63% expense ratio.

Dividends

IXC vs. PXE - Dividend Comparison

IXC's dividend yield for the trailing twelve months is around 2.79%, more than PXE's 1.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IXC iShares Global Energy ETF	2.79%	3.68%	4.56%	3.45%	4.76%	3.98%	4.86%	7.00%	3.51%	3.05%	2.86%	3.77%
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 IXC and PXE in my portfolio?

IXC and PXE have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IXC or PXE?

PXE has higher volatility (9.57%) compared to IXC (7.50%). In terms of maximum drawdown, IXC dropped -67.88% vs PXE's -83.99%.

Which ETF is better, IXC or PXE?

On 10-year performance, IXC leads with 10.29% vs 8.62% for PXE. On fees, IXC is cheaper at 0.46% per year. On volatility, IXC has been the lower-risk option at 7.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IXC or PXE?

Over the 10-year period, IXC has performed better with a 10.29% return vs 8.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IXC or PXE?

IXC is cheaper with a 0.46% expense ratio, compared with 0.63% for PXE.

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

IXC has the higher dividend yield at 2.79%, compared with 1.99% for PXE.

What is the main difference between IXC and PXE?

IXC tracks S&P Global Energy Sector Index, while PXE tracks Dynamic Energy Exploration & Production Intellidex Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.46% for IXC and 0.63% for PXE.

Which has better risk-adjusted returns?

IXC currently has the higher Sharpe Ratio (2.58 vs 1.37), 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.