PEFIX vs. PXH

Last updated Jun 24, 2026

PEFIX (PIMCO RAE PLUS EMG Fund) and PXH (Invesco FTSE RAFI Emerging Markets ETF) are both funds - PEFIX is a Emerging Markets Diversified fund managed by PIMCO, while PXH is a Emerging Markets Equities fund tracking the FTSE RAFI Emerging Markets Index. Over the past 10 years, PEFIX returned 12.51%/yr vs 10.53%/yr for PXH. A 0.70 correlation means they provide meaningful diversification when combined. 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

In the year-to-date period, PEFIX achieves a 17.01% return, which is significantly higher than PXH's 10.82% return. Over the past 10 years, PEFIX has outperformed PXH with an annualized return of 12.51%, while PXH has yielded a comparatively lower 10.53% annualized return.

PEFIX

• 1D: -0.22%
• 1M: -0.49%
• YTD: 17.01%
• 6M: 16.17%
• 1Y: 37.47%
• 3Y*: 20.97%
• 5Y*: 9.31%
• 10Y*: 12.51%

PXH

• 1D: -2.63%
• 1M: -0.53%
• YTD: 10.82%
• 6M: 11.08%
• 1Y: 28.95%
• 3Y*: 20.22%
• 5Y*: 8.62%
• 10Y*: 10.53%

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

PEFIX vs. PXH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEFIX PIMCO RAE PLUS EMG Fund	17.01%	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	10.82%	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 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	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 0.58 (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 risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PEFIX

PEFIX Risk / Return Rank: 71
PEFIX Sharpe Ratio Rank: 79
PEFIX Sortino Ratio Rank: 70
PEFIX Omega Ratio Rank: 72
PEFIX Calmar Ratio Rank: 72
PEFIX Martin Ratio Rank: 60

PXH

PXH Risk / Return Rank: 58
PXH Sharpe Ratio Rank: 57
PXH Sortino Ratio Rank: 54
PXH Omega Ratio Rank: 57
PXH Calmar Ratio Rank: 61
PXH Martin Ratio Rank: 60

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.

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	2.40	1.81	+0.60
Sortino ratio: Return per unit of downside risk	3.17	2.44	+0.74
Omega ratio: Gain probability vs. loss probability	1.43	1.33	+0.10
Calmar ratio: Return relative to maximum drawdown	3.14	2.84	+0.30
Martin ratio: Return relative to average drawdown	11.22	10.04	+1.18

PEFIX vs. PXH - Sharpe Ratio Comparison

The current PEFIX Sharpe Ratio is 2.40, which is higher than the PXH Sharpe Ratio of 1.81. 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	-5.81%	-4.91%	-0.90%
Average Drawdown Average peak-to-trough decline	-11.91%	-16.82%	+4.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	2.89%	+0.42%

Volatility

PEFIX vs. PXH - Volatility Comparison

PIMCO RAE PLUS EMG Fund (PEFIX) and Invesco FTSE RAFI Emerging Markets ETF (PXH) have volatilities of 6.53% and 6.78%, 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	6.53%	6.78%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	13.40%	13.45%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	15.52%	16.11%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.77%	17.93%	-2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.84%	19.96%	-3.12%

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 7.85%, more than PXH's 4.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEFIX PIMCO RAE PLUS EMG Fund	7.85%	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	4.34%	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 0.58, 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 (6.78%) compared to PEFIX (6.53%). In terms of maximum drawdown, PEFIX dropped -51.44% vs PXH's -63.63%.

Which has better risk-adjusted returns?

PEFIX currently has the higher Sharpe Ratio (2.40 vs 1.81), 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.