MXI vs. PSCM

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Global Materials ETF (MXI) and Invesco S&P SmallCap Materials ETF (PSCM).

MXI and PSCM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MXI is a passively managed fund by iShares that tracks the performance of the S&P Global Materials Index. It was launched on Sep 21, 2006. PSCM is a passively managed fund by Invesco that tracks the performance of the S&P Small Cap 600 / Materials -SEC. It was launched on Apr 7, 2010. Both MXI and PSCM 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

MXI vs. PSCM - Performance Comparison

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

MXI vs. PSCM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXI iShares Global Materials ETF	9.91%	27.43%	-8.25%	14.37%	-9.09%	15.06%	22.31%	22.19%	-16.06%	30.33%
PSCM Invesco S&P SmallCap Materials ETF	18.11%	15.59%	0.67%	19.86%	-6.45%	18.02%	22.18%	21.75%	-23.28%	10.37%

Returns By Period

In the year-to-date period, MXI achieves a 9.91% return, which is significantly lower than PSCM's 18.11% return. Over the past 10 years, MXI has underperformed PSCM with an annualized return of 11.40%, while PSCM has yielded a comparatively higher 13.09% annualized return.

MXI

• 1D: 3.26%
• 1M: -8.85%
• YTD: 9.91%
• 6M: 15.72%
• 1Y: 33.16%
• 3Y*: 11.38%
• 5Y*: 7.39%
• 10Y*: 11.40%

PSCM

• 1D: 2.48%
• 1M: 0.04%
• YTD: 18.11%
• 6M: 28.41%
• 1Y: 50.44%
• 3Y*: 14.75%
• 5Y*: 10.33%
• 10Y*: 13.09%

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

MXI vs. PSCM - Expense Ratio Comparison

MXI has a 0.46% expense ratio, which is higher than PSCM's 0.29% expense ratio.

MXI

iShares Global Materials ETF

PSCM

Invesco S&P SmallCap Materials ETF

Return for Risk

MXI vs. PSCM — Risk / Return Rank

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

MXI

MXI Risk / Return Rank: 81
MXI Sharpe Ratio Rank: 82
MXI Sortino Ratio Rank: 82
MXI Omega Ratio Rank: 80
MXI Calmar Ratio Rank: 78
MXI Martin Ratio Rank: 82

PSCM

PSCM Risk / Return Rank: 86
PSCM Sharpe Ratio Rank: 86
PSCM Sortino Ratio Rank: 88
PSCM Omega Ratio Rank: 81
PSCM Calmar Ratio Rank: 88
PSCM Martin Ratio Rank: 88

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.

MXI vs. PSCM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Materials ETF (MXI) and Invesco S&P SmallCap Materials ETF (PSCM). 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.

	MXI	PSCM	Difference
Sharpe ratio Return per unit of total volatility	1.56	1.76	-0.20
Sortino ratio Return per unit of downside risk	2.10	2.46	-0.35
Omega ratio Gain probability vs. loss probability	1.30	1.31	-0.01
Calmar ratio Return relative to maximum drawdown	2.03	2.81	-0.78
Martin ratio Return relative to average drawdown	8.74	10.86	-2.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXI vs. PSCM - Sharpe Ratio Comparison

The current MXI Sharpe Ratio is 1.56, which is comparable to the PSCM Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of MXI and PSCM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MXI	PSCM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	1.76	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.40	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.49	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.38	-0.13

Correlation

The correlation between MXI and PSCM is 0.68, 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

MXI vs. PSCM - Dividend Comparison

MXI's dividend yield for the trailing twelve months is around 2.02%, more than PSCM's 1.09% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MXI iShares Global Materials ETF	2.02%	2.22%	3.24%	2.92%	4.84%	3.51%	1.21%	3.64%	2.77%	1.76%	1.31%	3.64%
PSCM Invesco S&P SmallCap Materials ETF	1.09%	1.17%	0.80%	0.81%	0.93%	0.67%	1.56%	1.14%	1.25%	0.61%	0.76%	1.33%

Drawdowns

MXI vs. PSCM - Drawdown Comparison

The maximum MXI drawdown since its inception was -68.44%, which is greater than PSCM's maximum drawdown of -51.34%. Use the drawdown chart below to compare losses from any high point for MXI and PSCM.

Drawdown Indicators

	MXI	PSCM	Difference
Max Drawdown Largest peak-to-trough decline	-68.44%	-51.34%	-17.10%
Max Drawdown (1Y) Largest decline over 1 year	-16.18%	-17.76%	+1.58%
Max Drawdown (5Y) Largest decline over 5 years	-28.76%	-35.36%	+6.60%
Max Drawdown (10Y) Largest decline over 10 years	-39.52%	-51.34%	+11.82%
Current Drawdown Current decline from peak	-8.85%	-4.39%	-4.46%
Average Drawdown Average peak-to-trough decline	-18.19%	-10.99%	-7.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.76%	4.60%	-0.84%

Volatility

MXI vs. PSCM - Volatility Comparison

iShares Global Materials ETF (MXI) and Invesco S&P SmallCap Materials ETF (PSCM) have volatilities of 9.12% and 9.12%, 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

	MXI	PSCM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.12%	9.12%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	15.13%	17.83%	-2.70%
Volatility (1Y) Calculated over the trailing 1-year period	21.32%	28.81%	-7.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.43%	25.81%	-6.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.37%	26.91%	-6.54%