PBW vs. VGUS

Last updated Jun 24, 2026

PBW (Invesco WilderHill Clean Energy ETF) and VGUS (Vanguard Ultra-Short Treasury ETF) are both exchange-traded funds - PBW is a Small Cap Growth Equities fund tracking the The WilderHill Clean Energy Index (AMEX), while VGUS is a Ultrashort Bond fund tracking the Bloomberg Short Treasury Index. Both are passively managed. Over the past year, PBW returned 107.61% vs 3.85% for VGUS. At a correlation of -0.17, they often move in opposite directions. PBW charges 0.61%/yr vs 0.07%/yr for VGUS.

Performance

PBW vs. VGUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco WilderHill Clean Energy ETF (PBW) and Vanguard Ultra-Short Treasury ETF (VGUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBW achieves a 28.31% return, which is significantly higher than VGUS's 1.61% return.

PBW

• 1D: -5.58%
• 1M: -8.98%
• YTD: 28.31%
• 6M: 22.11%
• 1Y: 107.61%
• 3Y*: 3.84%
• 5Y*: -13.40%
• 10Y*: 9.92%

VGUS

• 1D: 0.01%
• 1M: 0.20%
• YTD: 1.61%
• 6M: 1.69%
• 1Y: 3.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PBW vs. VGUS - Yearly Performance Comparison

	2026 (YTD)	2025
PBW Invesco WilderHill Clean Energy ETF	28.31%	58.80%
VGUS Vanguard Ultra-Short Treasury ETF	1.61%	3.78%

Correlation

The correlation between PBW and VGUS is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (All Time) Calculated using the full available price history since Feb 11, 2025	-0.17

Return for Risk

PBW vs. VGUS — Risk / Return Rank

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

PBW

PBW Risk / Return Rank: 75
PBW Sharpe Ratio Rank: 84
PBW Sortino Ratio Rank: 66
PBW Omega Ratio Rank: 63
PBW Calmar Ratio Rank: 89
PBW Martin Ratio Rank: 73

VGUS

VGUS Risk / Return Rank: 99
VGUS Sharpe Ratio Rank: 100
VGUS Sortino Ratio Rank: 99
VGUS Omega Ratio Rank: 99
VGUS Calmar Ratio Rank: 99
VGUS Martin Ratio Rank: 100

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.

PBW vs. VGUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco WilderHill Clean Energy ETF (PBW) and Vanguard Ultra-Short Treasury ETF (VGUS). 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.

	PBW	VGUS	Difference
Sharpe ratio: Return per unit of total volatility	2.55	11.84	-9.30
Sortino ratio: Return per unit of downside risk	2.89	34.08	-31.19
Omega ratio: Gain probability vs. loss probability	1.36	10.49	-9.13
Calmar ratio: Return relative to maximum drawdown	5.09	53.13	-48.03
Martin ratio: Return relative to average drawdown	13.07	402.18	-389.11

PBW vs. VGUS - Sharpe Ratio Comparison

The current PBW Sharpe Ratio is 2.55, which is lower than the VGUS Sharpe Ratio of 11.84. The chart below compares the historical Sharpe Ratios of PBW and VGUS, 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

PBW vs. VGUS - Drawdown Comparison

The maximum PBW drawdown since its inception was -89.02%, which is greater than VGUS's maximum drawdown of -0.07%. Use the drawdown chart below to compare losses from any high point for PBW and VGUS.

Drawdown Indicators

	PBW	VGUS	Difference
Max Drawdown Largest peak-to-trough decline	-89.02%	-0.07%	-88.95%
Max Drawdown (1Y) Largest decline over 1 year	-21.24%	-0.07%	-21.17%
Max Drawdown (3Y) Largest decline over 3 years	-68.04%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-84.50%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-89.02%	—	—
Current Drawdown Current decline from peak	-67.66%	0.00%	-67.66%
Average Drawdown Average peak-to-trough decline	-62.90%	-0.00%	-62.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.26%	0.01%	+8.25%

Volatility

PBW vs. VGUS - Volatility Comparison

Invesco WilderHill Clean Energy ETF (PBW) has a higher volatility of 17.93% compared to Vanguard Ultra-Short Treasury ETF (VGUS) at 0.11%. This indicates that PBW's price experiences larger fluctuations and is considered to be riskier than VGUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBW	VGUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.93%	0.11%	+17.82%
Volatility (6M) Calculated over the trailing 6-month period	31.32%	0.18%	+31.14%
Volatility (1Y) Calculated over the trailing 1-year period	42.50%	0.33%	+42.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.39%	0.34%	+43.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.02%	0.34%	+38.68%

PBW vs. VGUS - Expense Ratio Comparison

PBW has a 0.61% expense ratio, which is higher than VGUS's 0.07% expense ratio.

Dividends

PBW vs. VGUS - Dividend Comparison

PBW's dividend yield for the trailing twelve months is around 1.21%, less than VGUS's 3.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBW Invesco WilderHill Clean Energy ETF	1.21%	0.79%	2.84%	3.68%	4.21%	1.71%	0.44%	1.45%	2.04%	1.28%	2.68%	1.53%
VGUS Vanguard Ultra-Short Treasury ETF	3.60%	3.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PBW and VGUS in my portfolio?

PBW and VGUS have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBW or VGUS?

PBW has higher volatility (17.93%) compared to VGUS (0.11%). In terms of maximum drawdown, PBW dropped -89.02% vs VGUS's -0.07%.

Which ETF is better, PBW or VGUS?

On 1-year performance, PBW leads with 107.61% vs 3.85% for VGUS. On fees, VGUS is cheaper at 0.07% per year. On volatility, VGUS has been the lower-risk option at 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBW or VGUS?

Over the 1-year period, PBW has performed better with a 107.61% return vs 3.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBW or VGUS?

VGUS is cheaper with a 0.07% expense ratio, compared with 0.61% for PBW.

Which ETF pays a higher dividend yield, PBW or VGUS?

VGUS has the higher dividend yield at 3.60%, compared with 1.21% for PBW.

What is the main difference between PBW and VGUS?

PBW is categorized as Small Cap Growth Equities, while VGUS is Ultrashort Bond. PBW tracks The WilderHill Clean Energy Index (AMEX), while VGUS tracks Bloomberg Short Treasury Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.61% for PBW and 0.07% for VGUS.

Which has better risk-adjusted returns?

VGUS currently has the higher Sharpe Ratio (11.84 vs 2.55), 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.