PDN vs. VSS
Compare and contrast key facts about Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) and Vanguard FTSE All-World ex-US Small-Cap ETF (VSS).
PDN and VSS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PDN is a passively managed fund by Invesco that tracks the performance of the FTSE RAFI Developed x US Mid/Small. It was launched on Sep 27, 2007. VSS is a passively managed fund by Vanguard that tracks the performance of the FTSE Global Small Cap ex US Index. It was launched on Apr 2, 2009. Both PDN and VSS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PDN or VSS.
Key characteristics
| PDN | VSS | |
|---|---|---|
| YTD Return | 0.63% | 1.07% |
| 1Y Return | 6.30% | 8.23% |
| 3Y Return (Ann) | -2.28% | -1.92% |
| 5Y Return (Ann) | 4.24% | 4.72% |
| 10Y Return (Ann) | 3.88% | 3.46% |
| Sharpe Ratio | 0.49 | 0.66 |
| Daily Std Dev | 13.29% | 13.18% |
| Max Drawdown | -59.32% | -43.51% |
| Current Drawdown | -11.59% | -11.42% |
Correlation
The correlation between PDN and VSS is 0.90, 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.
Performance
PDN vs. VSS - Performance Comparison
In the year-to-date period, PDN achieves a 0.63% return, which is significantly lower than VSS's 1.07% return. Over the past 10 years, PDN has outperformed VSS with an annualized return of 3.88%, while VSS has yielded a comparatively lower 3.46% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PDN vs. VSS - Expense Ratio Comparison
PDN has a 0.49% expense ratio, which is higher than VSS's 0.07% expense ratio.
Risk-Adjusted Performance
PDN vs. VSS - Risk-Adjusted Performance 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 Vanguard FTSE All-World ex-US Small-Cap ETF (VSS). 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.
Dividends
PDN vs. VSS - Dividend Comparison
PDN's dividend yield for the trailing twelve months is around 2.99%, less than VSS's 3.11% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PDN Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF | 2.99% | 3.16% | 2.68% | 2.42% | 1.79% | 2.60% | 2.21% | 2.42% | 2.16% | 2.06% | 1.95% | 2.15% |
VSS Vanguard FTSE All-World ex-US Small-Cap ETF | 3.11% | 3.14% | 2.30% | 2.74% | 1.90% | 3.25% | 2.80% | 2.83% | 2.93% | 2.66% | 2.67% | 2.71% |
Drawdowns
PDN vs. VSS - Drawdown Comparison
The maximum PDN drawdown since its inception was -59.32%, which is greater than VSS's maximum drawdown of -43.51%. Use the drawdown chart below to compare losses from any high point for PDN and VSS. For additional features, visit the drawdowns tool.
Volatility
PDN vs. VSS - Volatility Comparison
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) has a higher volatility of 3.74% compared to Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) at 3.48%. This indicates that PDN's price experiences larger fluctuations and is considered to be riskier than VSS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.