PEJ vs. PIT

Last updated Jun 24, 2026

PEJ (Invesco Dynamic Leisure & Entertainment ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - PEJ is a Consumer Discretionary Equities fund tracking the Dynamic Leisure and Entertainment Intellidex Index, while PIT is a Commodities fund actively managed by VanEck. PEJ is passively managed, while PIT is actively managed. Over the past 3 years, PEJ returned 17.62%/yr vs 18.98%/yr for PIT. At a 0.01 correlation, their price movements are largely independent. Both charge a 0.55% expense ratio.

Performance

PEJ vs. PIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Leisure & Entertainment ETF (PEJ) and VanEck Commodity Strategy ETF (PIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PEJ achieves a 6.49% return, which is significantly lower than PIT's 25.62% return.

PEJ

• 1D: 0.39%
• 1M: 7.52%
• YTD: 6.49%
• 6M: 5.49%
• 1Y: 18.98%
• 3Y*: 17.62%
• 5Y*: 4.82%
• 10Y*: 7.66%

PIT

• 1D: -1.32%
• 1M: -11.78%
• YTD: 25.62%
• 6M: 23.58%
• 1Y: 39.64%
• 3Y*: 18.98%
• 5Y*: —
• 10Y*: —

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

PEJ vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PEJ Invesco Dynamic Leisure & Entertainment ETF	6.49%	17.78%	25.08%	15.73%	-1.27%
PIT VanEck Commodity Strategy ETF	25.62%	21.63%	6.77%	-4.54%	1.67%

Correlation

The correlation between PEJ and PIT is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.22
Correlation (3Y) Calculated over the trailing 3-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	0.01

The correlation between PEJ and PIT shifts across timeframes, from -0.22 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PEJ vs. PIT — Risk / Return Rank

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

PEJ

PEJ Risk / Return Rank: 33
PEJ Sharpe Ratio Rank: 30
PEJ Sortino Ratio Rank: 32
PEJ Omega Ratio Rank: 29
PEJ Calmar Ratio Rank: 39
PEJ Martin Ratio Rank: 34

PIT

PIT Risk / Return Rank: 57
PIT Sharpe Ratio Rank: 59
PIT Sortino Ratio Rank: 52
PIT Omega Ratio Rank: 56
PIT Calmar Ratio Rank: 56
PIT Martin Ratio Rank: 63

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.

PEJ vs. PIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Leisure & Entertainment ETF (PEJ) and VanEck Commodity Strategy ETF (PIT). 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.

	PEJ	PIT	Difference
Sharpe ratio: Return per unit of total volatility	1.04	1.85	-0.81
Sortino ratio: Return per unit of downside risk	1.62	2.40	-0.77
Omega ratio: Gain probability vs. loss probability	1.19	1.33	-0.14
Calmar ratio: Return relative to maximum drawdown	1.85	2.62	-0.77
Martin ratio: Return relative to average drawdown	4.80	10.88	-6.09

PEJ vs. PIT - Sharpe Ratio Comparison

The current PEJ Sharpe Ratio is 1.04, which is lower than the PIT Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of PEJ and PIT, 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

PEJ vs. PIT - Drawdown Comparison

The maximum PEJ drawdown since its inception was -66.03%, which is greater than PIT's maximum drawdown of -15.19%. Use the drawdown chart below to compare losses from any high point for PEJ and PIT.

Drawdown Indicators

	PEJ	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-66.03%	-15.19%	-50.84%
Max Drawdown (1Y) Largest decline over 1 year	-10.29%	-15.19%	+4.90%
Max Drawdown (3Y) Largest decline over 3 years	-25.75%	-15.19%	-10.56%
Max Drawdown (5Y) Largest decline over 5 years	-34.74%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-58.96%	—	—
Current Drawdown Current decline from peak	-0.76%	-15.19%	+14.43%
Average Drawdown Average peak-to-trough decline	-12.29%	-4.08%	-8.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.97%	3.66%	+0.31%

Volatility

PEJ vs. PIT - Volatility Comparison

Invesco Dynamic Leisure & Entertainment ETF (PEJ) and VanEck Commodity Strategy ETF (PIT) have volatilities of 4.58% and 4.72%, 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

	PEJ	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.58%	4.72%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	14.18%	19.40%	-5.22%
Volatility (1Y) Calculated over the trailing 1-year period	18.44%	21.66%	-3.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.77%	17.50%	+5.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.73%	17.50%	+7.23%

PEJ vs. PIT - Expense Ratio Comparison

Both PEJ and PIT have an expense ratio of 0.55%.

Dividends

PEJ vs. PIT - Dividend Comparison

PEJ's dividend yield for the trailing twelve months is around 0.51%, less than PIT's 7.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEJ Invesco Dynamic Leisure & Entertainment ETF	0.51%	0.24%	0.40%	0.46%	0.43%	0.34%	0.92%	0.39%	0.78%	0.68%	0.68%	0.52%
PIT VanEck Commodity Strategy ETF	7.10%	8.92%	3.59%	6.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PEJ and PIT in my portfolio?

PEJ and PIT have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEJ or PIT?

PIT has higher volatility (4.72%) compared to PEJ (4.58%). In terms of maximum drawdown, PEJ dropped -66.03% vs PIT's -15.19%.

Which ETF is better, PEJ or PIT?

On 3-year performance, PIT leads with 18.98% vs 17.62% for PEJ. Both ETFs have the same 0.55% expense ratio. On volatility, PEJ has been the lower-risk option at 4.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PEJ or PIT?

Over the 3-year period, PIT has performed better with a 18.98% return vs 17.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PEJ or PIT?

PEJ and PIT have the same expense ratio: 0.55% per year.

Which ETF pays a higher dividend yield, PEJ or PIT?

PIT has the higher dividend yield at 7.10%, compared with 0.51% for PEJ.

What is the main difference between PEJ and PIT?

PEJ is categorized as Consumer Discretionary Equities, while PIT is Commodities. They also come from different issuers: Invesco and VanEck.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (1.85 vs 1.04), 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.