PBOG vs. PIPE
PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) and PIPE (Invesco SteelPath MLP & Energy Infrastructure ETF) are both Energy Equities funds. PBOG is passively managed, while PIPE is actively managed. A 0.65 correlation means they provide meaningful diversification when combined. PBOG charges 0.13%/yr vs 0.75%/yr for PIPE.
Performance
PBOG vs. PIPE - Performance Comparison
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Returns By Period
In the year-to-date period, PBOG achieves a 20.03% return, which is significantly lower than PIPE's 25.20% return.
PBOG
- 1D
- 1.27%
- 1M
- -9.96%
- YTD
- 20.03%
- 6M
- 21.88%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PIPE
- 1D
- 1.02%
- 1M
- -5.39%
- YTD
- 25.20%
- 6M
- 26.77%
- 1Y
- 27.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PBOG vs. PIPE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF | 20.03% | 1.39% |
PIPE Invesco SteelPath MLP & Energy Infrastructure ETF | 25.20% | 2.59% |
Correlation
The correlation between PBOG and PIPE is 0.65, 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 25, 2025 | 0.65 |
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Return for Risk
PBOG vs. PIPE — Risk / Return Rank
PBOG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PIPE
PBOG vs. PIPE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG) and Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE). 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.
| PBOG | PIPE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.33 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.83 | — |
| Martin ratioReturn relative to average drawdown | — | 9.45 | — |
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Drawdowns
PBOG vs. PIPE - Drawdown Comparison
The maximum PBOG drawdown since its inception was -16.46%, roughly equal to the maximum PIPE drawdown of -15.69%. Use the drawdown chart below to compare losses from any high point for PBOG and PIPE.
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Drawdown Indicators
| PBOG | PIPE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.46% | -15.69% | -0.77% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.33% | — |
Current DrawdownCurrent decline from peak | -15.40% | -5.68% | -9.72% |
Average DrawdownAverage peak-to-trough decline | -3.78% | -4.02% | +0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.96% | — |
Volatility
PBOG vs. PIPE - Volatility Comparison
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Volatility by Period
| PBOG | PIPE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.36% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.13% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.04% | 14.49% | +9.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.04% | 18.62% | +5.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.04% | 18.62% | +5.42% |
PBOG vs. PIPE - Expense Ratio Comparison
PBOG has a 0.13% expense ratio, which is lower than PIPE's 0.75% expense ratio.
Dividends
PBOG vs. PIPE - Dividend Comparison
PBOG's dividend yield for the trailing twelve months is around 0.14%, less than PIPE's 4.10% yield.
| Position | TTM | 2025 |
|---|---|---|
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF | 0.14% | 0.17% |
PIPE Invesco SteelPath MLP & Energy Infrastructure ETF | 4.10% | 3.74% |
Frequently Asked Questions
PBOG and PIPE have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBOG is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBOG is cheaper with a 0.13% expense ratio, compared with 0.75% for PIPE.
PIPE has the higher dividend yield at 4.10%, compared with 0.14% for PBOG.
They also come from different issuers: Portfolio Building Blocks and Invesco. Their fees differ too: 0.13% for PBOG and 0.75% for PIPE.
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