PBW vs. CTEX
Compare and contrast key facts about Invesco WilderHill Clean Energy ETF (PBW) and ProShares S&P Kensho Cleantech ETF (CTEX).
PBW and CTEX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PBW is a passively managed fund by Invesco that tracks the performance of the The WilderHill Clean Energy Index (AMEX). It was launched on Mar 3, 2005. CTEX is a passively managed fund by ProShares that tracks the performance of the S&P Kensho Cleantech Index. It was launched on Sep 29, 2021. Both PBW and CTEX 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
PBW vs. CTEX - Performance Comparison
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PBW vs. CTEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PBW Invesco WilderHill Clean Energy ETF | 3.51% | 53.96% | -30.77% | -20.03% | -44.55% | -6.83% |
CTEX ProShares S&P Kensho Cleantech ETF | -2.49% | 67.74% | -20.38% | -10.25% | -20.38% | -6.68% |
Returns By Period
In the year-to-date period, PBW achieves a 3.51% return, which is significantly higher than CTEX's -2.49% return.
PBW
- 1D
- 4.99%
- 1M
- -2.46%
- YTD
- 3.51%
- 6M
- 9.88%
- 1Y
- 102.59%
- 3Y*
- -6.15%
- 5Y*
- -18.62%
- 10Y*
- 6.57%
CTEX
- 1D
- 3.45%
- 1M
- -4.04%
- YTD
- -2.49%
- 6M
- 13.04%
- 1Y
- 101.45%
- 3Y*
- 1.55%
- 5Y*
- —
- 10Y*
- —
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PBW vs. CTEX - Expense Ratio Comparison
PBW has a 0.61% expense ratio, which is higher than CTEX's 0.58% expense ratio.
Return for Risk
PBW vs. CTEX — Risk / Return Rank
PBW
CTEX
PBW vs. CTEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco WilderHill Clean Energy ETF (PBW) and ProShares S&P Kensho Cleantech ETF (CTEX). 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.
| PBW | CTEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.41 | 2.33 | +0.08 |
Sortino ratioReturn per unit of downside risk | 2.91 | 2.74 | +0.17 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.35 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 4.66 | 4.58 | +0.08 |
Martin ratioReturn relative to average drawdown | 12.87 | 13.16 | -0.29 |
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
| PBW | CTEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.41 | 2.33 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.07 | -0.07 | 0.00 |
Correlation
The correlation between PBW and CTEX is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PBW vs. CTEX - Dividend Comparison
PBW's dividend yield for the trailing twelve months is around 0.86%, less than CTEX's 2.15% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBW Invesco WilderHill Clean Energy ETF | 0.86% | 0.79% | 2.84% | 3.68% | 4.21% | 1.71% | 0.44% | 1.45% | 2.04% | 1.28% | 2.68% | 1.53% |
CTEX ProShares S&P Kensho Cleantech ETF | 2.15% | 2.17% | 0.57% | 0.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PBW vs. CTEX - Drawdown Comparison
The maximum PBW drawdown since its inception was -89.02%, which is greater than CTEX's maximum drawdown of -70.31%. Use the drawdown chart below to compare losses from any high point for PBW and CTEX.
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Drawdown Indicators
| PBW | CTEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.02% | -70.31% | -18.71% |
Max Drawdown (1Y)Largest decline over 1 year | -21.24% | -21.62% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -84.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -89.02% | — | — |
Current DrawdownCurrent decline from peak | -73.91% | -31.12% | -42.79% |
Average DrawdownAverage peak-to-trough decline | -62.86% | -42.87% | -19.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.70% | 7.52% | +0.18% |
Volatility
PBW vs. CTEX - Volatility Comparison
Invesco WilderHill Clean Energy ETF (PBW) and ProShares S&P Kensho Cleantech ETF (CTEX) have volatilities of 12.60% and 12.49%, 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.
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Volatility by Period
| PBW | CTEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.60% | 12.49% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 31.89% | 33.71% | -1.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.85% | 43.74% | -0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.94% | 43.17% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.49% | 43.17% | -4.68% |