JOET vs. PTH

Last updated Jul 17, 2026

JOET (Virtus Terranova U.S. Quality Momentum ETF) and PTH (Invesco DWA Healthcare Momentum ETF) are both Momentum funds - JOET tracks the Terranova U.S. Quality Momentum Index while PTH tracks the Dorsey Wright Healthcare Technical Leaders Index. Both are passively managed. Over the past 5 years, JOET returned 10.13%/yr vs 2.22%/yr for PTH. A 0.66 correlation means they provide meaningful diversification when combined. JOET charges 0.29%/yr vs 0.60%/yr for PTH.

Performance

JOET vs. PTH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Terranova U.S. Quality Momentum ETF (JOET) and Invesco DWA Healthcare Momentum ETF (PTH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JOET achieves a 7.83% return, which is significantly lower than PTH's 17.14% return.

JOET

• 1D: -0.31%
• 1M: -0.37%
• 6M: 5.15%
• YTD: 7.83%
• 1Y: 12.06%
• 3Y*: 16.61%
• 5Y*: 10.13%
• 10Y*: —

PTH

• 1D: -2.68%
• 1M: 12.36%
• 6M: 17.65%
• YTD: 17.14%
• 1Y: 56.88%
• 3Y*: 14.27%
• 5Y*: 2.22%
• 10Y*: 14.57%

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

JOET vs. PTH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JOET Virtus Terranova U.S. Quality Momentum ETF	7.83%	11.89%	24.01%	16.34%	-18.04%	26.79%	5.06%
PTH Invesco DWA Healthcare Momentum ETF	17.14%	27.91%	2.36%	-4.54%	-20.61%	-3.20%	8.00%

Correlation

The correlation between JOET and PTH is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Nov 18, 2020	0.66

The correlation between JOET and PTH shifts across timeframes, from 0.52 (1 year) to 0.67 (5 years), reflecting how their relationship changes across market environments.

JOET vs. PTH - Sectors Allocation Comparison

Sectors	JOET	PTH
Technology	26.3%	-
Industrials	21.8%	-
Financial Services	14.3%	1.2%
Healthcare	11.1%	93.6%
Consumer Cyclical	9.8%	-
Energy	5.1%	-
Communication Services	4.1%	-
Basic Materials	2.9%	-
Real Estate	2.2%	-
Consumer Defensive	1.6%	-
Utilities	0.8%	-

Return for Risk

JOET vs. PTH — Risk / Return Rank

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

JOET

JOET Risk / Return Rank: 30
JOET Sharpe Ratio Rank: 29
JOET Sortino Ratio Rank: 28
JOET Omega Ratio Rank: 27
JOET Calmar Ratio Rank: 28
JOET Martin Ratio Rank: 36

PTH

PTH Risk / Return Rank: 86
PTH Sharpe Ratio Rank: 89
PTH Sortino Ratio Rank: 86
PTH Omega Ratio Rank: 81
PTH Calmar Ratio Rank: 92
PTH Martin Ratio Rank: 80

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.

JOET vs. PTH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Terranova U.S. Quality Momentum ETF (JOET) 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.

	JOET	PTH	Difference
Sharpe ratio: Return per unit of total volatility	0.87	2.35	-1.48
Sortino ratio: Return per unit of downside risk	1.31	3.13	-1.83
Omega ratio: Gain probability vs. loss probability	1.16	1.38	-0.23
Calmar ratio: Return relative to maximum drawdown	1.16	4.77	-3.61
Martin ratio: Return relative to average drawdown	4.43	12.03	-7.61

JOET vs. PTH - Sharpe Ratio Comparison

The current JOET Sharpe Ratio is 0.87, which is lower than the PTH Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of JOET and PTH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JOET vs. PTH - Drawdown Comparison

The maximum JOET drawdown since its inception was -26.58%, smaller than the maximum PTH drawdown of -53.52%. Use the drawdown chart below to compare losses from any high point for JOET and PTH.

Drawdown Indicators

	JOET	PTH	Difference
Max Drawdown Largest peak-to-trough decline	-26.58%	-53.52%	+26.94%
Max Drawdown (1Y) Largest decline over 1 year	-10.42%	-11.98%	+1.56%
Max Drawdown (3Y) Largest decline over 3 years	-19.55%	-27.51%	+7.96%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-50.07%	+23.49%
Max Drawdown (10Y) Largest decline over 10 years	—	-53.52%	—
Current Drawdown Current decline from peak	-2.15%	-5.60%	+3.45%
Average Drawdown Average peak-to-trough decline	-7.05%	-16.95%	+9.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	4.74%	-2.01%

Volatility

JOET vs. PTH - Volatility Comparison

The current volatility for Virtus Terranova U.S. Quality Momentum ETF (JOET) is 3.61%, while Invesco DWA Healthcare Momentum ETF (PTH) has a volatility of 7.37%. This indicates that JOET 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.

Volatility by Period

	JOET	PTH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	7.37%	-3.76%
Volatility (6M) Calculated over the trailing 6-month period	11.07%	19.37%	-8.30%
Volatility (1Y) Calculated over the trailing 1-year period	13.98%	24.34%	-10.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.82%	25.68%	-7.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.49%	27.33%	-9.84%

JOET vs. PTH - Expense Ratio Comparison

JOET has a 0.29% expense ratio, which is lower than PTH's 0.60% expense ratio.

Dividends

JOET vs. PTH - Dividend Comparison

JOET's dividend yield for the trailing twelve months is around 0.61%, less than PTH's 2.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JOET Virtus Terranova U.S. Quality Momentum ETF	0.61%	0.65%	0.71%	1.32%	1.25%	0.42%	0.08%
PTH Invesco DWA Healthcare Momentum ETF	2.62%	3.07%	0.06%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JOET and PTH in my portfolio?

JOET and PTH have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JOET or PTH?

PTH has higher volatility (7.37%) compared to JOET (3.61%). In terms of maximum drawdown, JOET dropped -26.58% vs PTH's -53.52%.

Which ETF is better, JOET or PTH?

On 5-year performance, JOET leads with 10.13% vs 2.22% for PTH. On fees, JOET is cheaper at 0.29% per year. On volatility, JOET has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JOET or PTH?

Over the 5-year period, JOET has performed better with a 10.13% return vs 2.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JOET or PTH?

JOET is cheaper with a 0.29% expense ratio, compared with 0.60% for PTH.

Which ETF pays a higher dividend yield, JOET or PTH?

PTH has the higher dividend yield at 2.62%, compared with 0.61% for JOET.

What is the main difference between JOET and PTH?

JOET tracks Terranova U.S. Quality Momentum Index, while PTH tracks Dorsey Wright Healthcare Technical Leaders Index. They also come from different issuers: Virtus Investment Partners and Invesco. Their fees differ too: 0.29% for JOET and 0.60% for PTH.

Which has better risk-adjusted returns?

PTH currently has the higher Sharpe Ratio (2.35 vs 0.87), 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.