PEX vs. PSP
Compare and contrast key facts about ProShares Global Listed Private Equity ETF (PEX) and Invesco Global Listed Private Equity ETF (PSP).
PEX and PSP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PEX is a passively managed fund by ProShares that tracks the performance of the LPX Direct Listed Private Equity Index. It was launched on Feb 26, 2013. PSP is a passively managed fund by Invesco that tracks the performance of the Red Rocks Global Listed Private Equity Index. It was launched on Oct 24, 2006. Both PEX and PSP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PEX or PSP.
Key characteristics
| PEX | PSP | |
|---|---|---|
| YTD Return | 11.11% | 20.19% |
| 1Y Return | 24.43% | 46.17% |
| 3Y Return (Ann) | -0.27% | -0.11% |
| 5Y Return (Ann) | 5.93% | 9.74% |
| 10Y Return (Ann) | 6.69% | 9.08% |
| Sharpe Ratio | 1.96 | 2.52 |
| Sortino Ratio | 2.65 | 3.29 |
| Omega Ratio | 1.34 | 1.42 |
| Calmar Ratio | 1.21 | 1.44 |
| Martin Ratio | 12.01 | 17.15 |
| Ulcer Index | 2.04% | 2.68% |
| Daily Std Dev | 12.47% | 18.23% |
| Max Drawdown | -49.17% | -85.40% |
| Current Drawdown | -1.28% | -1.83% |
Correlation
The correlation between PEX and PSP is 0.74, 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.
Performance
PEX vs. PSP - Performance Comparison
In the year-to-date period, PEX achieves a 11.11% return, which is significantly lower than PSP's 20.19% return. Over the past 10 years, PEX has underperformed PSP with an annualized return of 6.69%, while PSP has yielded a comparatively higher 9.08% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PEX vs. PSP - Expense Ratio Comparison
PEX has a 3.13% expense ratio, which is higher than PSP's 1.44% expense ratio.
Risk-Adjusted Performance
PEX vs. PSP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Global Listed Private Equity ETF (PEX) and Invesco Global Listed Private Equity ETF (PSP). 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.
Dividends
PEX vs. PSP - Dividend Comparison
PEX's dividend yield for the trailing twelve months is around 13.76%, more than PSP's 7.64% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PEX ProShares Global Listed Private Equity ETF | 13.76% | 13.02% | 1.77% | 13.64% | 5.52% | 7.94% | 4.72% | 24.26% | 4.32% | 12.50% | 6.28% | 9.05% |
PSP Invesco Global Listed Private Equity ETF | 7.64% | 3.96% | 2.87% | 10.33% | 4.66% | 5.86% | 6.80% | 10.18% | 4.11% | 6.23% | 4.94% | 13.48% |
Drawdowns
PEX vs. PSP - Drawdown Comparison
The maximum PEX drawdown since its inception was -49.17%, smaller than the maximum PSP drawdown of -85.40%. Use the drawdown chart below to compare losses from any high point for PEX and PSP. For additional features, visit the drawdowns tool.
Volatility
PEX vs. PSP - Volatility Comparison
The current volatility for ProShares Global Listed Private Equity ETF (PEX) is 3.56%, while Invesco Global Listed Private Equity ETF (PSP) has a volatility of 5.66%. This indicates that PEX experiences smaller price fluctuations and is considered to be less risky than PSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.