PBEU vs. PEX

Last updated Jun 4, 2026

PBEU (Portfolio Building Block European Banks Index ETF) and PEX (ProShares Global Listed Private Equity ETF) are both Financials Equities funds - PBEU tracks the BITA European Banks Index while PEX tracks the LPX Direct Listed Private Equity Index. Both are passively managed. A 0.60 correlation means they provide meaningful diversification when combined. PBEU charges 0.13%/yr vs 3.13%/yr for PEX.

Performance

PBEU vs. PEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Portfolio Building Block European Banks Index ETF (PBEU) and ProShares Global Listed Private Equity ETF (PEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBEU achieves a 6.67% return, which is significantly higher than PEX's -12.48% return.

PBEU

• 1D: -2.01%
• 1M: 5.50%
• YTD: 6.67%
• 6M: 14.38%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PEX

• 1D: -2.88%
• 1M: -5.57%
• YTD: -12.48%
• 6M: -10.90%
• 1Y: -12.90%
• 3Y*: 3.61%
• 5Y*: -1.12%
• 10Y*: 4.13%

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

PBEU vs. PEX - Yearly Performance Comparison

	2026 (YTD)	2025
PBEU Portfolio Building Block European Banks Index ETF	6.67%	11.49%
PEX ProShares Global Listed Private Equity ETF	-12.48%	3.16%

Correlation

The correlation between PBEU and PEX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025	0.60

Return for Risk

PBEU vs. PEX — Risk / Return Rank

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

PEX

PEX Risk / Return Rank: 3
PEX Sharpe Ratio Rank: 2
PEX Sortino Ratio Rank: 3
PEX Omega Ratio Rank: 3
PEX Calmar Ratio Rank: 4
PEX Martin Ratio Rank: 4

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.

PBEU vs. PEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Portfolio Building Block European Banks Index ETF (PBEU) and ProShares Global Listed Private Equity ETF (PEX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	PBEU	PEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.83	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.06	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.21	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.45	0.25	+1.20

Drawdowns

PBEU vs. PEX - Drawdown Comparison

The maximum PBEU drawdown since its inception was -17.26%, smaller than the maximum PEX drawdown of -49.17%. Use the drawdown chart below to compare losses from any high point for PBEU and PEX.

Drawdown Indicators

	PBEU	PEX	Difference
Max Drawdown Largest peak-to-trough decline	-17.26%	-49.17%	+31.91%
Max Drawdown (1Y) Largest decline over 1 year	—	-24.72%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-24.72%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.58%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-49.17%	—
Current Drawdown Current decline from peak	-2.18%	-20.90%	+18.72%
Average Drawdown Average peak-to-trough decline	-4.23%	-8.21%	+3.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.22%	—

Volatility

Volatility by Period

	PBEU	PEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.81%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.05%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.88%	15.61%	+12.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.88%	17.96%	+9.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.88%	19.44%	+8.44%

PBEU vs. PEX - Expense Ratio Comparison

PBEU has a 0.13% expense ratio, which is lower than PEX's 3.13% expense ratio.

Dividends

PBEU vs. PEX - Dividend Comparison

PBEU's dividend yield for the trailing twelve months is around 0.01%, less than PEX's 12.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBEU Portfolio Building Block European Banks Index ETF	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PEX ProShares Global Listed Private Equity ETF	12.81%	12.80%	14.11%	13.02%	1.77%	13.64%	5.52%	7.94%	4.72%	24.26%	3.24%	12.50%

Frequently Asked Questions

Can I hold both PBEU and PEX in my portfolio?

PBEU and PEX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PBEU or PEX?

On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PBEU or PEX?

PBEU is cheaper with a 0.13% expense ratio, compared with 3.13% for PEX.

Which ETF pays a higher dividend yield, PBEU or PEX?

PEX has the higher dividend yield at 12.81%, compared with 0.01% for PBEU.

What is the main difference between PBEU and PEX?

PBEU tracks BITA European Banks Index, while PEX tracks LPX Direct Listed Private Equity Index. They also come from different issuers: Portfolio Building Block and ProShares. Their fees differ too: 0.13% for PBEU and 3.13% for PEX.