IYE vs. PSCE

Last updated Jun 4, 2026

IYE (iShares U.S. Energy ETF) and PSCE (Invesco S&P SmallCap Energy ETF) are both Energy Equities funds - IYE tracks the Dow Jones U.S. Oil & Gas Index while PSCE tracks the S&P SmallCap 600 Energy Index. Both are passively managed. Over the past 10 years, IYE returned 9.00%/yr vs -1.45%/yr for PSCE. Their correlation of 0.86 suggests significant overlap in exposure. IYE charges 0.42%/yr vs 0.29%/yr for PSCE.

Performance

IYE vs. PSCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Energy ETF (IYE) and Invesco S&P SmallCap Energy ETF (PSCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IYE achieves a 31.90% return, which is significantly lower than PSCE's 42.33% return. Over the past 10 years, IYE has outperformed PSCE with an annualized return of 9.00%, while PSCE has yielded a comparatively lower -1.45% annualized return.

IYE

• 1D: 1.33%
• 1M: -1.02%
• YTD: 31.90%
• 6M: 29.37%
• 1Y: 44.08%
• 3Y*: 17.12%
• 5Y*: 19.52%
• 10Y*: 9.00%

PSCE

• 1D: 0.29%
• 1M: -4.35%
• YTD: 42.33%
• 6M: 34.80%
• 1Y: 61.94%
• 3Y*: 12.72%
• 5Y*: 10.77%
• 10Y*: -1.45%

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

IYE vs. PSCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IYE iShares U.S. Energy ETF	31.90%	7.33%	6.06%	-2.21%	60.21%	53.42%	-33.49%	10.03%	-19.37%	-1.80%
PSCE Invesco S&P SmallCap Energy ETF	42.33%	-9.00%	-5.47%	5.07%	48.45%	59.85%	-40.31%	-14.93%	-42.98%	-26.70%

Correlation

The correlation between IYE and PSCE is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Apr 8, 2010	0.86

The correlation between IYE and PSCE has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.

IYE vs. PSCE - Sectors Allocation Comparison

Sectors	IYE	PSCE
Energy	98.9%	98.6%
Technology	1.1%	-
Basic Materials	-	1.4%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	0.1%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

IYE vs. PSCE — Risk / Return Rank

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

IYE

IYE Risk / Return Rank: 63
IYE Sharpe Ratio Rank: 65
IYE Sortino Ratio Rank: 60
IYE Omega Ratio Rank: 57
IYE Calmar Ratio Rank: 73
IYE Martin Ratio Rank: 60

PSCE

PSCE Risk / Return Rank: 73
PSCE Sharpe Ratio Rank: 70
PSCE Sortino Ratio Rank: 62
PSCE Omega Ratio Rank: 58
PSCE Calmar Ratio Rank: 93
PSCE Martin Ratio Rank: 82

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.

IYE vs. PSCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Energy ETF (IYE) and Invesco S&P SmallCap Energy ETF (PSCE). 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.

	IYE	PSCE	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.32	-0.10
Sortino ratio: Return per unit of downside risk	2.86	2.92	-0.07
Omega ratio: Gain probability vs. loss probability	1.36	1.36	-0.01
Calmar ratio: Return relative to maximum drawdown	3.72	6.61	-2.90
Martin ratio: Return relative to average drawdown	10.99	16.61	-5.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYE vs. PSCE - Sharpe Ratio Comparison

The current IYE Sharpe Ratio is 2.22, which is comparable to the PSCE Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of IYE and PSCE, 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

	IYE	PSCE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	2.32	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.29	+0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	-0.03	+0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	-0.09	+0.35

Drawdowns

IYE vs. PSCE - Drawdown Comparison

The maximum IYE drawdown since its inception was -73.74%, smaller than the maximum PSCE drawdown of -96.21%. Use the drawdown chart below to compare losses from any high point for IYE and PSCE.

Drawdown Indicators

	IYE	PSCE	Difference
Max Drawdown Largest peak-to-trough decline	-73.74%	-96.21%	+22.47%
Max Drawdown (1Y) Largest decline over 1 year	-11.92%	-9.41%	-2.51%
Max Drawdown (3Y) Largest decline over 3 years	-20.37%	-44.57%	+24.20%
Max Drawdown (5Y) Largest decline over 5 years	-25.61%	-45.42%	+19.81%
Max Drawdown (10Y) Largest decline over 10 years	-68.59%	-90.70%	+22.11%
Current Drawdown Current decline from peak	-5.77%	-74.71%	+68.94%
Average Drawdown Average peak-to-trough decline	-19.36%	-58.83%	+39.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.02%	3.74%	+0.28%

Volatility

IYE vs. PSCE - Volatility Comparison

iShares U.S. Energy ETF (IYE) and Invesco S&P SmallCap Energy ETF (PSCE) have volatilities of 7.92% and 7.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IYE	PSCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.92%	7.96%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	16.13%	18.54%	-2.41%
Volatility (1Y) Calculated over the trailing 1-year period	19.99%	27.01%	-7.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.71%	37.44%	-11.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.52%	43.26%	-13.74%

IYE vs. PSCE - Expense Ratio Comparison

IYE has a 0.42% expense ratio, which is higher than PSCE's 0.29% expense ratio.

Dividends

IYE vs. PSCE - Dividend Comparison

IYE's dividend yield for the trailing twelve months is around 2.13%, more than PSCE's 1.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IYE iShares U.S. Energy ETF	2.13%	2.85%	2.75%	2.99%	3.37%	2.98%	4.75%	6.60%	3.16%	2.66%	2.11%	3.39%
PSCE Invesco S&P SmallCap Energy ETF	1.84%	2.39%	1.70%	2.57%	1.70%	0.46%	0.87%	0.14%	0.22%	0.04%	0.22%	0.82%

Frequently Asked Questions

Can I hold both IYE and PSCE in my portfolio?

IYE and PSCE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYE or PSCE?

PSCE has higher volatility (7.96%) compared to IYE (7.92%). In terms of maximum drawdown, IYE dropped -73.74% vs PSCE's -96.21%.

Which ETF is better, IYE or PSCE?

On 10-year performance, IYE leads with 9.00% vs -1.45% for PSCE. On fees, PSCE is cheaper at 0.29% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IYE or PSCE?

Over the 10-year period, IYE has performed better with a 9.00% return vs -1.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYE or PSCE?

PSCE is cheaper with a 0.29% expense ratio, compared with 0.42% for IYE.

Which ETF pays a higher dividend yield, IYE or PSCE?

IYE has the higher dividend yield at 2.13%, compared with 1.84% for PSCE.

What is the main difference between IYE and PSCE?

IYE tracks Dow Jones U.S. Oil & Gas Index, while PSCE tracks S&P SmallCap 600 Energy Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.42% for IYE and 0.29% for PSCE.

Which has better risk-adjusted returns?

PSCE currently has the higher Sharpe Ratio (2.32 vs 2.22), 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.