PDP vs. VAMO
PDP (Invesco Dorsey Wright Momentum ETF) and VAMO (Cambria Value and Momentum ETF) are both Momentum funds. PDP is passively managed, while VAMO is actively managed. Over the past 10 years, PDP returned 12.35%/yr vs 5.92%/yr for VAMO. Their 0.48 correlation means their historical movements had little consistent relationship. PDP charges 0.62%/yr vs 0.65%/yr for VAMO.
Performance
PDP vs. VAMO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PDP achieves a 14.75% return, which is significantly higher than VAMO's 7.53% return. Over the past 10 years, PDP has outperformed VAMO with an annualized return of 12.35%, while VAMO has yielded a comparatively lower 5.92% annualized return.
PDP
- 1D
- 0.32%
- 1M
- -5.52%
- 6M
- 9.33%
- YTD
- 14.75%
- 1Y
- 20.18%
- 3Y*
- 18.14%
- 5Y*
- 8.11%
- 10Y*
- 12.35%
- ALL TIME*
- 9.66%
VAMO
- 1D
- -0.46%
- 1M
- 2.63%
- 6M
- 4.61%
- YTD
- 7.53%
- 1Y
- 21.53%
- 3Y*
- 12.37%
- 5Y*
- 10.87%
- 10Y*
- 5.92%
- ALL TIME*
- 4.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.96M | $3.45M | $3.85M | |
| $140.83K | $92.60K | $940.22K |
PDP vs. VAMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PDP Invesco Dorsey Wright Momentum ETF | 14.75% | 8.37% | 26.06% | 20.88% | -24.49% | 7.72% | 36.59% | 33.13% | -5.96% | 23.30% |
VAMO Cambria Value and Momentum ETF | 7.53% | 16.51% | 6.11% | 5.58% | 8.55% | 32.16% | -4.92% | -4.63% | -11.43% | 3.82% |
Correlation
The correlation between PDP and VAMO is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.50 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.49 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2015 | 0.48 |
The correlation between PDP and VAMO has been stable across timeframes, ranging from 0.48 to 0.57 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PDP vs. VAMO — Risk / Return Rank
PDP
VAMO
PDP vs. VAMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dorsey Wright Momentum ETF (PDP) and Cambria Value and Momentum ETF (VAMO). 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 | VAMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.33 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | 3.68 | -2.65 |
| Martin ratioReturn relative to average drawdown | 4.02 | 10.59 | -6.57 |
Loading charts...
Drawdowns
PDP vs. VAMO - Drawdown Comparison
The maximum PDP drawdown since its inception was -59.34%, which is greater than VAMO's maximum drawdown of -41.84%. Use the drawdown chart below to compare losses from any high point for PDP and VAMO.
Loading charts...
Drawdown Indicators
| PDP | VAMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.34% | -41.84% | -17.50% |
Max Drawdown (1Y)Largest decline over 1 year | -17.58% | -5.55% | -12.03% |
Max Drawdown (3Y)Largest decline over 3 years | -23.79% | -11.61% | -12.18% |
Max Drawdown (5Y)Largest decline over 5 years | -33.91% | -17.25% | -16.66% |
Max Drawdown (10Y)Largest decline over 10 years | -34.70% | -41.84% | +7.14% |
Current DrawdownCurrent decline from peak | -12.80% | -0.59% | -12.21% |
Average DrawdownAverage peak-to-trough decline | -10.57% | -9.84% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.51% | 1.93% | +2.58% |
Volatility
PDP vs. VAMO - Volatility Comparison
Invesco Dorsey Wright Momentum ETF (PDP) has a higher volatility of 11.41% compared to Cambria Value and Momentum ETF (VAMO) at 2.12%. This indicates that PDP's price experiences larger fluctuations and is considered to be riskier than VAMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PDP | VAMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.41% | 2.12% | +9.29% |
Volatility (6M)Calculated over the trailing 6-month period | 21.23% | 7.29% | +13.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.85% | 11.00% | +14.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.80% | 16.74% | +6.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.01% | 18.10% | +3.91% |
PDP vs. VAMO - Expense Ratio Comparison
PDP has a 0.62% expense ratio, which is lower than VAMO's 0.65% expense ratio.
Dividends
PDP vs. VAMO - Dividend Comparison
PDP's dividend yield for the trailing twelve months is around 0.08%, less than VAMO's 0.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VAMO Cambria Value and Momentum ETF | 0.61% | 1.41% | 0.84% | 1.35% | 1.10% | 1.07% | 1.03% | 1.15% | 1.03% | 0.35% | 0.56% | 0.20% |
Frequently Asked Questions
PDP and VAMO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDP has higher volatility (11.41%) compared to VAMO (2.12%). In terms of maximum drawdown, PDP dropped -59.34% vs VAMO's -41.84%.
On 10-year performance, PDP leads with 12.35% vs 5.92% for VAMO. On fees, PDP is cheaper at 0.62% per year. On volatility, VAMO has been the lower-risk option at 2.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PDP has performed better with a 12.35% return vs 5.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PDP is cheaper with a 0.62% expense ratio, compared with 0.65% for VAMO.
VAMO has the higher dividend yield at 0.61%, compared with 0.08% for PDP.
They also come from different issuers: Invesco and Cambria. Their fees differ too: 0.62% for PDP and 0.65% for VAMO.
VAMO currently has the higher Sharpe Ratio (1.86 vs 0.70), 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.
Find the right allocation for PDP and VAMO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer