PDN vs. ASCI

Last updated Jun 4, 2026

PDN (Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF) and ASCI (abrdn International Small Cap Active ETF) are both Foreign Small & Mid Cap Equities funds. PDN is passively managed, while ASCI is actively managed. Their correlation of 0.83 suggests significant overlap in exposure. PDN charges 0.49%/yr vs 0.70%/yr for ASCI.

Performance

PDN vs. ASCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) and abrdn International Small Cap Active ETF (ASCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDN achieves a 10.22% return, which is significantly higher than ASCI's 7.39% return.

PDN

• 1D: -0.74%
• 1M: 0.91%
• YTD: 10.22%
• 6M: 12.61%
• 1Y: 27.72%
• 3Y*: 18.02%
• 5Y*: 6.42%
• 10Y*: 8.41%

ASCI

• 1D: -0.54%
• 1M: 1.38%
• YTD: 7.39%
• 6M: 8.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PDN vs. ASCI - Yearly Performance Comparison

	2026 (YTD)	2025
PDN Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF	10.22%	3.49%
ASCI abrdn International Small Cap Active ETF	7.39%	1.11%

Correlation

The correlation between PDN and ASCI is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 21, 2025	0.83

Return for Risk

PDN vs. ASCI — Risk / Return Rank

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

PDN

PDN Risk / Return Rank: 55
PDN Sharpe Ratio Rank: 56
PDN Sortino Ratio Rank: 56
PDN Omega Ratio Rank: 56
PDN Calmar Ratio Rank: 50
PDN Martin Ratio Rank: 56

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.

PDN vs. ASCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) and abrdn International Small Cap Active ETF (ASCI). 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.

	PDN	ASCI	Difference
Sharpe ratio: Return per unit of total volatility	1.91	—	—
Sortino ratio: Return per unit of downside risk	2.68	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	2.47	—	—
Martin ratio: Return relative to average drawdown	9.64	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PDN	ASCI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.77	-0.49

Drawdowns

PDN vs. ASCI - Drawdown Comparison

The maximum PDN drawdown since its inception was -59.32%, which is greater than ASCI's maximum drawdown of -11.22%. Use the drawdown chart below to compare losses from any high point for PDN and ASCI.

Drawdown Indicators

	PDN	ASCI	Difference
Max Drawdown Largest peak-to-trough decline	-59.32%	-11.22%	-48.10%
Max Drawdown (1Y) Largest decline over 1 year	-11.26%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.68%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.94%	—	—
Current Drawdown Current decline from peak	-2.62%	-2.85%	+0.23%
Average Drawdown Average peak-to-trough decline	-11.59%	-2.39%	-9.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	—	—

Volatility

Volatility by Period

	PDN	ASCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.61%	18.68%	-4.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.34%	18.68%	-2.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.06%	18.68%	-1.62%

PDN vs. ASCI - Expense Ratio Comparison

PDN has a 0.49% expense ratio, which is lower than ASCI's 0.70% expense ratio.

Dividends

PDN vs. ASCI - Dividend Comparison

PDN's dividend yield for the trailing twelve months is around 3.08%, more than ASCI's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASCI abrdn International Small Cap Active ETF	0.75%	0.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PDN Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF	3.08%	3.36%	3.36%	3.16%	2.68%	2.42%	1.79%	2.60%	2.21%	2.42%	2.16%	2.06%

Frequently Asked Questions

Can I hold both PDN and ASCI in my portfolio?

PDN and ASCI have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PDN or ASCI?

On fees, PDN is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PDN or ASCI?

PDN is cheaper with a 0.49% expense ratio, compared with 0.70% for ASCI.

Which ETF pays a higher dividend yield, PDN or ASCI?

PDN has the higher dividend yield at 3.08%, compared with 0.75% for ASCI.

What is the main difference between PDN and ASCI?

They also come from different issuers: Invesco and abrdn. Their fees differ too: 0.49% for PDN and 0.70% for ASCI.