PEFIX vs. PXH

Last updated Aug 1, 2026

PEFIX (PIMCO RAE PLUS EMG Fund) and PXH (Invesco FTSE RAFI Emerging Markets ETF) are both Emerging Markets Equities funds. Over the past 10 years, PEFIX returned 10.84%/yr vs 9.64%/yr for PXH. Their 0.70 correlation means they have sometimes moved together and sometimes differently. PEFIX charges 1.10%/yr vs 0.50%/yr for PXH.

Performance

PEFIX vs. PXH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAE PLUS EMG Fund (PEFIX) and Invesco FTSE RAFI Emerging Markets ETF (PXH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PEFIX having a 14.33% return and PXH slightly lower at 14.20%. Over the past 10 years, PEFIX has outperformed PXH with an annualized return of 10.84%, while PXH has yielded a comparatively lower 9.64% annualized return.

PEFIX

• 1D: 0.79%
• 1M: 0.79%
• 6M: 3.75%
• YTD: 14.33%
• 1Y: 29.31%
• 3Y*: 16.59%
• 5Y*: 9.32%
• 10Y*: 10.84%
• ALL TIME*: 11.59%

PXH

• 1D: 0.97%
• 1M: 4.81%
• 6M: 6.84%
• YTD: 14.20%
• 1Y: 29.44%
• 3Y*: 19.40%
• 5Y*: 10.44%
• 10Y*: 9.64%
• ALL TIME*: 3.67%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PEFIX PIMCO RAE PLUS EMG Fund	$0.00	$0.00	$0.00
PXH Invesco FTSE RAFI Emerging Markets ETF	$5.58M	$7.03M	$7.21M

PEFIX vs. PXH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEFIX PIMCO RAE PLUS EMG Fund	14.33%	27.34%	7.08%	20.00%	-16.85%	20.69%	5.27%	14.80%	-13.51%	31.80%
PXH Invesco FTSE RAFI Emerging Markets ETF	14.20%	31.44%	12.09%	13.93%	-15.18%	8.31%	-1.91%	16.77%	-8.68%	26.60%

Correlation

The correlation between PEFIX and PXH is 0.59, 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.	0.59
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (5Y) Shows whether the relationship held over a longer period.	0.64
Correlation (10Y) Provides a long-term view across more market conditions.	0.66
Correlation (All Time) Calculated using the full available price history since Nov 28, 2008	0.70

The correlation between PEFIX and PXH shifts across timeframes, from 0.59 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PEFIX vs. PXH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PEFIX

PEFIX Risk / Return Rank: 62
PEFIX Sharpe Ratio Rank: 70
PEFIX Sortino Ratio Rank: 64
PEFIX Omega Ratio Rank: 65
PEFIX Calmar Ratio Rank: 67
PEFIX Martin Ratio Rank: 43

PXH

PXH Risk / Return Rank: 75
PXH Sharpe Ratio Rank: 77
PXH Sortino Ratio Rank: 73
PXH Omega Ratio Rank: 76
PXH Calmar Ratio Rank: 78
PXH Martin Ratio Rank: 71

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PEFIX vs. PXH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE PLUS EMG Fund (PEFIX) and Invesco FTSE RAFI Emerging Markets ETF (PXH). 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.

	PEFIX	PXH	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.75	-0.09
Sortino ratio: Return per unit of downside risk	2.25	2.36	-0.11
Omega ratio: Gain probability vs. loss probability	1.29	1.31	-0.02
Calmar ratio: Return relative to maximum drawdown	2.22	2.80	-0.58
Martin ratio: Return relative to average drawdown	6.33	8.74	-2.41

PEFIX vs. PXH - Sharpe Ratio Comparison

The current PEFIX Sharpe Ratio is 1.65, which is comparable to the PXH Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of PEFIX and PXH, 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

PEFIX vs. PXH - Drawdown Comparison

The maximum PEFIX drawdown since its inception was -51.44%, smaller than the maximum PXH drawdown of -63.63%. Use the drawdown chart below to compare losses from any high point for PEFIX and PXH.

Drawdown Indicators

	PEFIX	PXH	Difference
Max Drawdown Largest peak-to-trough decline	-51.44%	-63.63%	+12.19%
Max Drawdown (1Y) Largest decline over 1 year	-11.86%	-10.24%	-1.62%
Max Drawdown (3Y) Largest decline over 3 years	-20.78%	-17.72%	-3.06%
Max Drawdown (5Y) Largest decline over 5 years	-31.51%	-29.59%	-1.92%
Max Drawdown (10Y) Largest decline over 10 years	-51.44%	-40.42%	-11.02%
Current Drawdown Current decline from peak	-7.96%	-2.00%	-5.96%
Average Drawdown Average peak-to-trough decline	-11.89%	-16.76%	+4.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.15%	3.28%	+0.87%

Volatility

PEFIX vs. PXH - Volatility Comparison

PIMCO RAE PLUS EMG Fund (PEFIX) and Invesco FTSE RAFI Emerging Markets ETF (PXH) have volatilities of 4.39% and 4.46%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEFIX	PXH	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	4.46%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	13.67%	13.66%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	15.95%	16.46%	-0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.84%	17.94%	-2.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.77%	19.86%	-3.09%

PEFIX vs. PXH - Expense Ratio Comparison

PEFIX has a 1.10% expense ratio, which is higher than PXH's 0.50% expense ratio.

Dividends

PEFIX vs. PXH - Dividend Comparison

PEFIX's dividend yield for the trailing twelve months is around 8.03%, more than PXH's 4.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEFIX PIMCO RAE PLUS EMG Fund	8.03%	3.73%	9.33%	2.11%	18.29%	46.03%	8.19%	0.38%	4.76%	7.08%	4.48%	0.00%
PXH Invesco FTSE RAFI Emerging Markets ETF	4.21%	4.02%	4.43%	4.84%	5.33%	4.69%	2.79%	3.28%	3.30%	2.74%	1.97%	3.44%

Frequently Asked Questions

Can I hold both PEFIX and PXH in my portfolio?

PEFIX and PXH 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, PEFIX or PXH?

PXH has higher volatility (4.46%) compared to PEFIX (4.39%). In terms of maximum drawdown, PEFIX dropped -51.44% vs PXH's -63.63%.

Which has better risk-adjusted returns?

PXH currently has the higher Sharpe Ratio (1.75 vs 1.65), 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.