PDP vs. IJS

Last updated Jul 12, 2026

PDP (Invesco Dorsey Wright Momentum ETF) and IJS (iShares S&P SmallCap 600 Value ETF) are both exchange-traded funds - PDP is a Momentum fund tracking the Dorsey Wright Technical Leaders Index, while IJS is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index. Both are passively managed. Over the past 10 years, PDP returned 13.08%/yr vs 9.96%/yr for IJS. A 0.76 correlation means they provide meaningful diversification when combined. PDP charges 0.62%/yr vs 0.25%/yr for IJS.

Performance

PDP vs. IJS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dorsey Wright Momentum ETF (PDP) and iShares S&P SmallCap 600 Value ETF (IJS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDP achieves a 22.46% return, which is significantly higher than IJS's 19.39% return. Over the past 10 years, PDP has outperformed IJS with an annualized return of 13.08%, while IJS has yielded a comparatively lower 9.96% annualized return.

PDP

• 1D: -0.65%
• 1M: -1.18%
• 6M: 17.20%
• YTD: 22.46%
• 1Y: 31.65%
• 3Y*: 20.91%
• 5Y*: 9.74%
• 10Y*: 13.08%

IJS

• 1D: 0.49%
• 1M: 1.12%
• 6M: 12.74%
• YTD: 19.39%
• 1Y: 32.14%
• 3Y*: 13.76%
• 5Y*: 7.16%
• 10Y*: 9.96%

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

PDP vs. IJS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PDP Invesco Dorsey Wright Momentum ETF	22.46%	8.37%	26.06%	20.88%	-24.49%	7.72%	36.59%	33.13%	-5.96%	23.30%
IJS iShares S&P SmallCap 600 Value ETF	19.39%	6.54%	7.33%	14.68%	-11.34%	30.53%	2.63%	24.11%	-12.86%	11.35%

Correlation

The correlation between PDP and IJS is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Mar 1, 2007	0.76

The correlation between PDP and IJS shifts across timeframes, from 0.59 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

PDP vs. IJS - Sectors Allocation Comparison

Sectors	PDP	IJS
Industrials	38.5%	11.6%
Technology	27.2%	13.4%
Energy	6.5%	7.0%
Healthcare	6.3%	7.3%
Consumer Cyclical	5.6%	15.4%
Financial Services	4.1%	19.4%
Consumer Defensive	3.6%	3.9%
Basic Materials	2.5%	6.9%
Communication Services	2.4%	4.4%
Utilities	1.5%	2.1%
Real Estate	1.2%	8.6%

Return for Risk

PDP vs. IJS — Risk / Return Rank

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

PDP

PDP Risk / Return Rank: 52
PDP Sharpe Ratio Rank: 46
PDP Sortino Ratio Rank: 42
PDP Omega Ratio Rank: 44
PDP Calmar Ratio Rank: 66
PDP Martin Ratio Rank: 62

IJS

IJS Risk / Return Rank: 69
IJS Sharpe Ratio Rank: 64
IJS Sortino Ratio Rank: 68
IJS Omega Ratio Rank: 61
IJS Calmar Ratio Rank: 79
IJS Martin Ratio Rank: 74

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.

PDP vs. IJS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dorsey Wright Momentum ETF (PDP) and iShares S&P SmallCap 600 Value ETF (IJS). 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.

	PDP	IJS	Difference
Sharpe ratio: Return per unit of total volatility	1.29	1.70	-0.41
Sortino ratio: Return per unit of downside risk	1.78	2.49	-0.71
Omega ratio: Gain probability vs. loss probability	1.23	1.30	-0.07
Calmar ratio: Return relative to maximum drawdown	2.62	3.31	-0.68
Martin ratio: Return relative to average drawdown	8.69	10.91	-2.22

PDP vs. IJS - Sharpe Ratio Comparison

The current PDP Sharpe Ratio is 1.29, which is comparable to the IJS Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of PDP and IJS, 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

PDP vs. IJS - Drawdown Comparison

The maximum PDP drawdown since its inception was -59.34%, roughly equal to the maximum IJS drawdown of -60.11%. Use the drawdown chart below to compare losses from any high point for PDP and IJS.

Drawdown Indicators

	PDP	IJS	Difference
Max Drawdown Largest peak-to-trough decline	-59.34%	-60.11%	+0.77%
Max Drawdown (1Y) Largest decline over 1 year	-11.87%	-9.28%	-2.59%
Max Drawdown (3Y) Largest decline over 3 years	-23.79%	-28.65%	+4.86%
Max Drawdown (5Y) Largest decline over 5 years	-33.91%	-28.65%	-5.26%
Max Drawdown (10Y) Largest decline over 10 years	-34.70%	-47.68%	+12.98%
Current Drawdown Current decline from peak	-6.94%	-1.42%	-5.52%
Average Drawdown Average peak-to-trough decline	-10.56%	-9.86%	-0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	2.83%	+0.75%

Volatility

PDP vs. IJS - Volatility Comparison

Invesco Dorsey Wright Momentum ETF (PDP) has a higher volatility of 10.27% compared to iShares S&P SmallCap 600 Value ETF (IJS) at 4.45%. This indicates that PDP's price experiences larger fluctuations and is considered to be riskier than IJS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDP	IJS	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.27%	4.45%	+5.82%
Volatility (6M) Calculated over the trailing 6-month period	19.26%	11.81%	+7.45%
Volatility (1Y) Calculated over the trailing 1-year period	24.10%	18.10%	+6.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.45%	21.86%	+0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.79%	23.53%	-1.74%

PDP vs. IJS - Expense Ratio Comparison

PDP has a 0.62% expense ratio, which is higher than IJS's 0.25% expense ratio.

Dividends

PDP vs. IJS - Dividend Comparison

PDP's dividend yield for the trailing twelve months is around 0.08%, less than IJS's 1.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IJS iShares S&P SmallCap 600 Value ETF	1.33%	1.62%	1.78%	1.42%	1.46%	1.52%	1.00%	1.66%	1.75%	1.41%	1.22%	1.59%
PDP Invesco Dorsey Wright Momentum ETF	0.08%	0.17%	0.15%	0.42%	0.45%	0.00%	0.11%	0.25%	0.18%	0.28%	0.81%	0.39%

Frequently Asked Questions

Can I hold both PDP and IJS in my portfolio?

PDP and IJS have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PDP or IJS?

PDP has higher volatility (10.27%) compared to IJS (4.45%). In terms of maximum drawdown, PDP dropped -59.34% vs IJS's -60.11%.

Which ETF is better, PDP or IJS?

On 10-year performance, PDP leads with 13.08% vs 9.96% for IJS. On fees, IJS is cheaper at 0.25% per year. On volatility, IJS has been the lower-risk option at 4.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PDP or IJS?

Over the 10-year period, PDP has performed better with a 13.08% return vs 9.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PDP or IJS?

IJS is cheaper with a 0.25% expense ratio, compared with 0.62% for PDP.

Which ETF pays a higher dividend yield, PDP or IJS?

IJS has the higher dividend yield at 1.33%, compared with 0.08% for PDP.

What is the main difference between PDP and IJS?

PDP is categorized as Momentum, while IJS is Small Cap Value Equities. PDP tracks Dorsey Wright Technical Leaders Index, while IJS tracks S&P SmallCap 600 Value Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.62% for PDP and 0.25% for IJS.

Which has better risk-adjusted returns?

IJS currently has the higher Sharpe Ratio (1.70 vs 1.29), 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.