MDEV vs. PJP
Compare and contrast key facts about First Trust Indxx Medical Devices ETF (MDEV) and Invesco Dynamic Pharmaceuticals ETF (PJP).
MDEV and PJP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MDEV is a passively managed fund by First Trust that tracks the performance of the Indxx Global Medical Equipment Index. It was launched on Jun 22, 2021. PJP is a passively managed fund by Invesco that tracks the performance of the Dynamic Pharmaceuticals Intellidex Index. It was launched on Jun 23, 2005. Both MDEV and PJP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
MDEV vs. PJP - Performance Comparison
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MDEV vs. PJP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MDEV First Trust Indxx Medical Devices ETF | -9.41% | 2.00% | 1.79% | 7.55% | -28.59% | 4.16% |
PJP Invesco Dynamic Pharmaceuticals ETF | -0.44% | 27.98% | 9.63% | -2.18% | -2.16% | 2.48% |
Returns By Period
In the year-to-date period, MDEV achieves a -9.41% return, which is significantly lower than PJP's -0.44% return.
MDEV
- 1D
- 2.23%
- 1M
- -9.05%
- YTD
- -9.41%
- 6M
- -4.81%
- 1Y
- -5.71%
- 3Y*
- -2.27%
- 5Y*
- —
- 10Y*
- —
PJP
- 1D
- 3.04%
- 1M
- -3.96%
- YTD
- -0.44%
- 6M
- 12.79%
- 1Y
- 21.16%
- 3Y*
- 12.12%
- 5Y*
- 6.67%
- 10Y*
- 6.42%
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MDEV vs. PJP - Expense Ratio Comparison
MDEV has a 0.70% expense ratio, which is higher than PJP's 0.58% expense ratio.
Return for Risk
MDEV vs. PJP — Risk / Return Rank
MDEV
PJP
MDEV vs. PJP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Medical Devices ETF (MDEV) and Invesco Dynamic Pharmaceuticals ETF (PJP). 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.
| MDEV | PJP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.30 | 1.12 | -1.43 |
Sortino ratioReturn per unit of downside risk | -0.31 | 1.58 | -1.89 |
Omega ratioGain probability vs. loss probability | 0.96 | 1.20 | -0.24 |
Calmar ratioReturn relative to maximum drawdown | -0.37 | 1.77 | -2.14 |
Martin ratioReturn relative to average drawdown | -1.17 | 5.03 | -6.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MDEV | PJP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.30 | 1.12 | -1.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.42 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.35 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.31 | 0.59 | -0.89 |
Correlation
The correlation between MDEV and PJP is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MDEV vs. PJP - Dividend Comparison
MDEV has not paid dividends to shareholders, while PJP's dividend yield for the trailing twelve months is around 1.02%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDEV First Trust Indxx Medical Devices 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% |
PJP Invesco Dynamic Pharmaceuticals ETF | 1.02% | 0.98% | 0.97% | 1.01% | 0.95% | 0.81% | 0.75% | 0.77% | 1.12% | 0.65% | 0.91% | 5.49% |
Drawdowns
MDEV vs. PJP - Drawdown Comparison
The maximum MDEV drawdown since its inception was -42.34%, which is greater than PJP's maximum drawdown of -37.06%. Use the drawdown chart below to compare losses from any high point for MDEV and PJP.
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Drawdown Indicators
| MDEV | PJP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.34% | -37.06% | -5.28% |
Max Drawdown (1Y)Largest decline over 1 year | -14.88% | -11.68% | -3.20% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.51% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.95% | — |
Current DrawdownCurrent decline from peak | -32.20% | -5.83% | -26.37% |
Average DrawdownAverage peak-to-trough decline | -25.39% | -8.90% | -16.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.66% | 4.88% | -0.22% |
Volatility
MDEV vs. PJP - Volatility Comparison
The current volatility for First Trust Indxx Medical Devices ETF (MDEV) is 5.67%, while Invesco Dynamic Pharmaceuticals ETF (PJP) has a volatility of 6.62%. This indicates that MDEV experiences smaller price fluctuations and is considered to be less risky than PJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MDEV | PJP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.67% | 6.62% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 10.88% | 11.57% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.99% | 19.11% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.00% | 15.97% | +3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.00% | 18.42% | +0.58% |