PDP vs. VO
Compare and contrast key facts about Invesco Dorsey Wright Momentum ETF (PDP) and Vanguard Mid-Cap ETF (VO).
PDP and VO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PDP is a passively managed fund by Invesco that tracks the performance of the Dorsey Wright Technical Leaders Index. It was launched on Mar 1, 2007. VO is a passively managed fund by Vanguard that tracks the performance of the CRSP US Mid Cap Index. It was launched on Jan 26, 2004. Both PDP and VO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PDP vs. VO - Performance Comparison
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PDP vs. VO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PDP Invesco Dorsey Wright Momentum ETF | 3.73% | 8.37% | 26.06% | 20.88% | -24.49% | 7.72% | 36.59% | 33.13% | -5.96% | 23.30% |
VO Vanguard Mid-Cap ETF | -0.05% | 11.62% | 15.31% | 16.03% | -18.73% | 24.70% | 18.10% | 30.98% | -9.24% | 19.28% |
Returns By Period
In the year-to-date period, PDP achieves a 3.73% return, which is significantly higher than VO's -0.05% return. Over the past 10 years, PDP has outperformed VO with an annualized return of 11.68%, while VO has yielded a comparatively lower 10.74% annualized return.
PDP
- 1D
- 4.68%
- 1M
- -6.38%
- YTD
- 3.73%
- 6M
- 2.28%
- 1Y
- 20.93%
- 3Y*
- 16.94%
- 5Y*
- 7.20%
- 10Y*
- 11.68%
VO
- 1D
- 0.63%
- 1M
- -5.18%
- YTD
- -0.05%
- 6M
- -0.76%
- 1Y
- 13.07%
- 3Y*
- 12.85%
- 5Y*
- 6.79%
- 10Y*
- 10.74%
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PDP vs. VO - Expense Ratio Comparison
PDP has a 0.62% expense ratio, which is higher than VO's 0.04% expense ratio.
Return for Risk
PDP vs. VO — Risk / Return Rank
PDP
VO
PDP vs. VO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dorsey Wright Momentum ETF (PDP) and Vanguard Mid-Cap ETF (VO). 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.
| PDP | VO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.87 | 0.75 | +0.12 |
Sortino ratioReturn per unit of downside risk | 1.30 | 1.15 | +0.15 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.16 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.78 | 1.06 | +0.72 |
Martin ratioReturn relative to average drawdown | 5.80 | 4.83 | +0.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PDP | VO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | 0.75 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.39 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.57 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.48 | -0.07 |
Correlation
The correlation between PDP and VO is 0.91, 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.
Dividends
PDP vs. VO - Dividend Comparison
PDP's dividend yield for the trailing twelve months is around 0.13%, less than VO's 1.50% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PDP Invesco Dorsey Wright Momentum ETF | 0.13% | 0.17% | 0.15% | 0.42% | 0.45% | 0.00% | 0.11% | 0.25% | 0.18% | 0.28% | 0.81% | 0.39% |
VO Vanguard Mid-Cap ETF | 1.50% | 1.52% | 1.49% | 1.52% | 1.60% | 1.12% | 1.45% | 1.48% | 1.82% | 1.35% | 1.45% | 1.47% |
Drawdowns
PDP vs. VO - Drawdown Comparison
The maximum PDP drawdown since its inception was -59.34%, roughly equal to the maximum VO drawdown of -58.87%. Use the drawdown chart below to compare losses from any high point for PDP and VO.
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Drawdown Indicators
| PDP | VO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.34% | -58.87% | -0.47% |
Max Drawdown (1Y)Largest decline over 1 year | -12.04% | -12.74% | +0.70% |
Max Drawdown (5Y)Largest decline over 5 years | -33.91% | -27.57% | -6.34% |
Max Drawdown (10Y)Largest decline over 10 years | -34.70% | -39.37% | +4.67% |
Current DrawdownCurrent decline from peak | -7.49% | -5.53% | -1.96% |
Average DrawdownAverage peak-to-trough decline | -10.69% | -7.91% | -2.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.69% | 2.79% | +0.90% |
Volatility
PDP vs. VO - Volatility Comparison
Invesco Dorsey Wright Momentum ETF (PDP) has a higher volatility of 9.98% compared to Vanguard Mid-Cap ETF (VO) at 4.83%. This indicates that PDP's price experiences larger fluctuations and is considered to be riskier than VO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDP | VO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.98% | 4.83% | +5.15% |
Volatility (6M)Calculated over the trailing 6-month period | 18.59% | 9.73% | +8.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.13% | 17.57% | +6.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.93% | 17.61% | +4.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.44% | 18.94% | +2.50% |