PBE vs. SCHG

Last updated Jun 16, 2026

PBE (Invesco Dynamic Biotechnology & Genome ETF) and SCHG (Schwab U.S. Large-Cap Growth ETF) are both exchange-traded funds - PBE is a Health & Biotech Equities fund tracking the Dynamic Biotech & Genome Intellidex Index (AMEX), while SCHG is a Large Cap Growth Equities fund tracking the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. Both are passively managed. Over the past 10 years, PBE returned 8.90%/yr vs 18.85%/yr for SCHG. A 0.65 correlation means they provide meaningful diversification when combined. PBE charges 0.59%/yr vs 0.04%/yr for SCHG.

Performance

PBE vs. SCHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Biotechnology & Genome ETF (PBE) and Schwab U.S. Large-Cap Growth ETF (SCHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBE achieves a 3.32% return, which is significantly lower than SCHG's 5.03% return. Over the past 10 years, PBE has underperformed SCHG with an annualized return of 8.90%, while SCHG has yielded a comparatively higher 18.85% annualized return.

PBE

• 1D: 0.81%
• 1M: 4.85%
• YTD: 3.32%
• 6M: 5.17%
• 1Y: 34.13%
• 3Y*: 10.91%
• 5Y*: 2.31%
• 10Y*: 8.90%

SCHG

• 1D: 2.39%
• 1M: -0.12%
• YTD: 5.03%
• 6M: 5.98%
• 1Y: 23.20%
• 3Y*: 23.27%
• 5Y*: 14.85%
• 10Y*: 18.85%

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

PBE vs. SCHG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PBE Invesco Dynamic Biotechnology & Genome ETF	3.32%	24.84%	1.10%	3.71%	-10.83%	1.54%	25.66%	18.65%	-0.19%	22.28%
SCHG Schwab U.S. Large-Cap Growth ETF	5.03%	17.50%	34.95%	50.10%	-31.80%	28.11%	39.14%	36.02%	-1.36%	28.05%

Correlation

The correlation between PBE and SCHG is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Dec 11, 2009	0.65

Over the past year, the correlation between PBE and SCHG has dropped to 0.39 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

PBE vs. SCHG - Sectors Allocation Comparison

Sectors	PBE	SCHG
Healthcare	99.9%	8.4%
Financial Services	0.2%	6.6%
Basic Materials	-	1.3%
Communication Services	-	15.3%
Consumer Cyclical	-	12.4%
Consumer Defensive	-	1.6%
Energy	-	0.7%
Industrials	-	6.0%
Real Estate	-	0.5%
Technology	-	46.7%
Utilities	-	0.4%

Return for Risk

PBE vs. SCHG — Risk / Return Rank

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

PBE

PBE Risk / Return Rank: 58
PBE Sharpe Ratio Rank: 58
PBE Sortino Ratio Rank: 63
PBE Omega Ratio Rank: 53
PBE Calmar Ratio Rank: 63
PBE Martin Ratio Rank: 52

SCHG

SCHG Risk / Return Rank: 40
SCHG Sharpe Ratio Rank: 46
SCHG Sortino Ratio Rank: 43
SCHG Omega Ratio Rank: 44
SCHG Calmar Ratio Rank: 32
SCHG Martin Ratio Rank: 34

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.

PBE vs. SCHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Biotechnology & Genome ETF (PBE) and Schwab U.S. Large-Cap Growth ETF (SCHG). 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.

	PBE	SCHG	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.45	+0.36
Sortino ratio: Return per unit of downside risk	2.68	1.98	+0.70
Omega ratio: Gain probability vs. loss probability	1.31	1.26	+0.05
Calmar ratio: Return relative to maximum drawdown	2.92	1.42	+1.50
Martin ratio: Return relative to average drawdown	8.21	4.68	+3.53

PBE vs. SCHG - Sharpe Ratio Comparison

The current PBE Sharpe Ratio is 1.81, which is comparable to the SCHG Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of PBE and SCHG, 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

PBE vs. SCHG - Drawdown Comparison

The maximum PBE drawdown since its inception was -45.69%, which is greater than SCHG's maximum drawdown of -34.59%. Use the drawdown chart below to compare losses from any high point for PBE and SCHG.

Drawdown Indicators

	PBE	SCHG	Difference
Max Drawdown Largest peak-to-trough decline	-45.69%	-34.59%	-11.10%
Max Drawdown (1Y) Largest decline over 1 year	-11.73%	-16.41%	+4.68%
Max Drawdown (3Y) Largest decline over 3 years	-22.43%	-23.39%	+0.96%
Max Drawdown (5Y) Largest decline over 5 years	-34.71%	-34.59%	-0.12%
Max Drawdown (10Y) Largest decline over 10 years	-37.84%	-34.59%	-3.25%
Current Drawdown Current decline from peak	-1.00%	-3.06%	+2.06%
Average Drawdown Average peak-to-trough decline	-16.21%	-5.20%	-11.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.17%	4.97%	-0.80%

Volatility

PBE vs. SCHG - Volatility Comparison

Invesco Dynamic Biotechnology & Genome ETF (PBE) has a higher volatility of 6.04% compared to Schwab U.S. Large-Cap Growth ETF (SCHG) at 5.59%. This indicates that PBE's price experiences larger fluctuations and is considered to be riskier than SCHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBE	SCHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	5.59%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	13.67%	12.52%	+1.15%
Volatility (1Y) Calculated over the trailing 1-year period	19.01%	16.09%	+2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.48%	22.35%	+0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.91%	21.60%	+3.31%

PBE vs. SCHG - Expense Ratio Comparison

PBE has a 0.59% expense ratio, which is higher than SCHG's 0.04% expense ratio.

Dividends

PBE vs. SCHG - Dividend Comparison

PBE's dividend yield for the trailing twelve months is around 1.02%, more than SCHG's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBE Invesco Dynamic Biotechnology & Genome ETF	1.02%	1.00%	0.05%	0.02%	0.00%	0.00%	0.04%	0.00%	0.00%	0.57%	0.38%	1.12%
SCHG Schwab U.S. Large-Cap Growth ETF	0.37%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%

Frequently Asked Questions

Can I hold both PBE and SCHG in my portfolio?

PBE and SCHG have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBE or SCHG?

PBE has higher volatility (6.04%) compared to SCHG (5.59%). In terms of maximum drawdown, PBE dropped -45.69% vs SCHG's -34.59%.

Which ETF is better, PBE or SCHG?

On 10-year performance, SCHG leads with 18.85% vs 8.90% for PBE. On fees, SCHG is cheaper at 0.04% per year. On volatility, SCHG has been the lower-risk option at 5.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBE or SCHG?

Over the 10-year period, SCHG has performed better with a 18.85% return vs 8.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBE or SCHG?

SCHG is cheaper with a 0.04% expense ratio, compared with 0.59% for PBE.

Which ETF pays a higher dividend yield, PBE or SCHG?

PBE has the higher dividend yield at 1.02%, compared with 0.37% for SCHG.

What is the main difference between PBE and SCHG?

PBE is categorized as Health & Biotech Equities, while SCHG is Large Cap Growth Equities. PBE tracks Dynamic Biotech & Genome Intellidex Index (AMEX), while SCHG tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.59% for PBE and 0.04% for SCHG.

Which has better risk-adjusted returns?

PBE currently has the higher Sharpe Ratio (1.81 vs 1.45), 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.