PEX vs. PIT
PEX (ProShares Global Listed Private Equity ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - PEX is a Financials Equities fund tracking the LPX Direct Listed Private Equity Index, while PIT is a Commodities fund actively managed by VanEck. PEX is passively managed, while PIT is actively managed. Over the past 3 years, PEX returned 3.98%/yr vs 19.51%/yr for PIT. At a 0.11 correlation, their price movements are largely independent. PEX charges 3.13%/yr vs 0.55%/yr for PIT.
Performance
PEX vs. PIT - Performance Comparison
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Returns By Period
In the year-to-date period, PEX achieves a -13.10% return, which is significantly lower than PIT's 27.31% return.
PEX
- 1D
- -1.14%
- 1M
- -1.25%
- YTD
- -13.10%
- 6M
- -12.03%
- 1Y
- -14.11%
- 3Y*
- 3.98%
- 5Y*
- -0.97%
- 10Y*
- 4.70%
PIT
- 1D
- -0.75%
- 1M
- -10.60%
- YTD
- 27.31%
- 6M
- 26.74%
- 1Y
- 38.33%
- 3Y*
- 19.51%
- 5Y*
- —
- 10Y*
- —
PEX vs. PIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PEX ProShares Global Listed Private Equity ETF | -13.10% | 0.21% | 13.05% | 23.11% | 0.29% |
PIT VanEck Commodity Strategy ETF | 27.31% | 21.63% | 6.77% | -4.54% | 1.67% |
Correlation
The correlation between PEX and PIT is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022 | 0.11 |
The correlation between PEX and PIT shifts across timeframes, from -0.10 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PEX vs. PIT — Risk / Return Rank
PEX
PIT
PEX vs. PIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Global Listed Private Equity ETF (PEX) 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.
| PEX | PIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.67 | ||
| Sortino ratioReturn per unit of downside risk | -3.49 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.32 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | 2.74 | -3.31 |
| Martin ratioReturn relative to average drawdown | -1.09 | 10.88 | -11.97 |
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Drawdowns
PEX vs. PIT - Drawdown Comparison
The maximum PEX drawdown since its inception was -49.17%, which is greater than PIT's maximum drawdown of -14.05%. Use the drawdown chart below to compare losses from any high point for PEX and PIT.
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Drawdown Indicators
| PEX | PIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.17% | -14.05% | -35.12% |
Max Drawdown (1Y)Largest decline over 1 year | -24.72% | -14.05% | -10.67% |
Max Drawdown (3Y)Largest decline over 3 years | -24.72% | -14.05% | -10.67% |
Max Drawdown (5Y)Largest decline over 5 years | -36.58% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -49.17% | — | — |
Current DrawdownCurrent decline from peak | -21.46% | -14.05% | -7.41% |
Average DrawdownAverage peak-to-trough decline | -8.25% | -4.07% | -4.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.99% | 3.59% | +9.40% |
Volatility
PEX vs. PIT - Volatility Comparison
ProShares Global Listed Private Equity ETF (PEX) has a higher volatility of 5.24% compared to VanEck Commodity Strategy ETF (PIT) at 4.67%. This indicates that PEX's price experiences larger fluctuations and is considered to be riskier than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PEX | PIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.24% | 4.67% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 13.46% | 19.36% | -5.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.95% | 21.66% | -5.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.99% | 17.50% | +0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.44% | 17.50% | +1.94% |
PEX vs. PIT - Expense Ratio Comparison
PEX has a 3.13% expense ratio, which is higher than PIT's 0.55% expense ratio.
Dividends
PEX vs. PIT - Dividend Comparison
PEX's dividend yield for the trailing twelve months is around 12.91%, more than PIT's 7.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PEX ProShares Global Listed Private Equity ETF | 12.91% | 12.80% | 14.11% | 13.02% | 1.77% | 13.64% | 5.52% | 7.94% | 4.72% | 24.26% | 3.24% | 12.50% |
PIT VanEck Commodity Strategy ETF | 7.00% | 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
PEX and PIT have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PEX has higher volatility (5.24%) compared to PIT (4.67%). In terms of maximum drawdown, PEX dropped -49.17% vs PIT's -14.05%.
On 3-year performance, PIT leads with 19.51% vs 3.98% for PEX. On fees, PIT is cheaper at 0.55% per year. On volatility, PIT has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PIT has performed better with a 19.51% return vs 3.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PIT is cheaper with a 0.55% expense ratio, compared with 3.13% for PEX.
PEX has the higher dividend yield at 12.91%, compared with 7.00% for PIT.
PEX is categorized as Financials Equities, while PIT is Commodities. They also come from different issuers: ProShares and VanEck. Their fees differ too: 3.13% for PEX and 0.55% for PIT.
PIT currently has the higher Sharpe Ratio (1.78 vs -0.89), 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.
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