PEXL vs. PWC

Last updated Jun 24, 2026

PEXL (Pacer US Export Leaders ETF) and PWC (Invesco Dynamic Market ETF) are both Mid Cap Blend Equities funds - PEXL tracks the Pacer US Export Leaders Index while PWC tracks the Dynamic Market Intellidex Index. Both are passively managed. Over the past 5 years, PEXL returned 12.45%/yr vs 6.41%/yr for PWC. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

PEXL vs. PWC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer US Export Leaders ETF (PEXL) and Invesco Dynamic Market ETF (PWC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PEXL achieves a 19.63% return, which is significantly higher than PWC's 5.50% return.

PEXL

• 1D: -2.96%
• 1M: 2.42%
• YTD: 19.63%
• 6M: 18.58%
• 1Y: 45.53%
• 3Y*: 20.68%
• 5Y*: 12.45%
• 10Y*: —

PWC

• 1D: 0.70%
• 1M: -1.43%
• YTD: 5.50%
• 6M: 4.60%
• 1Y: 8.55%
• 3Y*: 13.17%
• 5Y*: 6.41%
• 10Y*: 9.67%

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

PEXL vs. PWC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PEXL Pacer US Export Leaders ETF	19.63%	27.33%	5.79%	24.40%	-20.41%	30.12%	25.02%	39.86%	-17.19%
PWC Invesco Dynamic Market ETF	5.50%	6.15%	17.46%	19.03%	-16.01%	19.38%	8.52%	13.47%	-14.41%

Correlation

The correlation between PEXL and PWC is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jul 24, 2018	0.78

Over the past year, the correlation between PEXL and PWC has dropped to 0.44 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

PEXL vs. PWC - Sectors Allocation Comparison

Sectors	PEXL	PWC
Technology	58.8%	26.1%
Communication Services	13.9%	7.0%
Healthcare	6.8%	12.7%
Industrials	6.1%	10.3%
Consumer Defensive	5.9%	6.8%
Basic Materials	3.8%	3.5%
Consumer Cyclical	3.8%	11.5%
Energy	0.9%	5.5%
Financial Services	-	14.0%
Real Estate	-	5.3%
Utilities	-	2.7%

Return for Risk

PEXL vs. PWC — Risk / Return Rank

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

PEXL

PEXL Risk / Return Rank: 79
PEXL Sharpe Ratio Rank: 80
PEXL Sortino Ratio Rank: 76
PEXL Omega Ratio Rank: 73
PEXL Calmar Ratio Rank: 81
PEXL Martin Ratio Rank: 85

PWC

PWC Risk / Return Rank: 26
PWC Sharpe Ratio Rank: 26
PWC Sortino Ratio Rank: 25
PWC Omega Ratio Rank: 23
PWC Calmar Ratio Rank: 29
PWC Martin Ratio Rank: 30

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.

PEXL vs. PWC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer US Export Leaders ETF (PEXL) and Invesco Dynamic Market ETF (PWC). 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.

	PEXL	PWC	Difference
Sharpe ratio: Return per unit of total volatility	2.38	0.88	+1.50
Sortino ratio: Return per unit of downside risk	3.14	1.31	+1.82
Omega ratio: Gain probability vs. loss probability	1.40	1.15	+0.25
Calmar ratio: Return relative to maximum drawdown	4.00	1.33	+2.67
Martin ratio: Return relative to average drawdown	16.56	3.99	+12.57

PEXL vs. PWC - Sharpe Ratio Comparison

The current PEXL Sharpe Ratio is 2.38, which is higher than the PWC Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of PEXL and PWC, 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

PEXL vs. PWC - Drawdown Comparison

The maximum PEXL drawdown since its inception was -36.76%, smaller than the maximum PWC drawdown of -78.13%. Use the drawdown chart below to compare losses from any high point for PEXL and PWC.

Drawdown Indicators

	PEXL	PWC	Difference
Max Drawdown Largest peak-to-trough decline	-36.76%	-78.13%	+41.37%
Max Drawdown (1Y) Largest decline over 1 year	-11.43%	-6.45%	-4.98%
Max Drawdown (3Y) Largest decline over 3 years	-24.72%	-15.12%	-9.60%
Max Drawdown (5Y) Largest decline over 5 years	-30.44%	-26.58%	-3.86%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.45%	—
Current Drawdown Current decline from peak	-3.37%	-2.69%	-0.68%
Average Drawdown Average peak-to-trough decline	-6.69%	-36.13%	+29.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	2.15%	+0.61%

Volatility

PEXL vs. PWC - Volatility Comparison

Pacer US Export Leaders ETF (PEXL) has a higher volatility of 8.72% compared to Invesco Dynamic Market ETF (PWC) at 2.87%. This indicates that PEXL's price experiences larger fluctuations and is considered to be riskier than PWC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEXL	PWC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.72%	2.87%	+5.85%
Volatility (6M) Calculated over the trailing 6-month period	14.95%	7.29%	+7.66%
Volatility (1Y) Calculated over the trailing 1-year period	19.25%	9.86%	+9.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.12%	16.03%	+6.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.13%	18.79%	+5.34%

PEXL vs. PWC - Expense Ratio Comparison

Both PEXL and PWC have an expense ratio of 0.60%.

Dividends

PEXL vs. PWC - Dividend Comparison

PEXL's dividend yield for the trailing twelve months is around 0.30%, less than PWC's 1.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEXL Pacer US Export Leaders ETF	0.30%	0.44%	0.48%	0.48%	0.60%	0.22%	0.48%	0.49%	0.29%	0.00%	0.00%	0.00%
PWC Invesco Dynamic Market ETF	1.80%	1.77%	1.58%	1.67%	1.51%	0.56%	1.09%	0.95%	1.44%	1.75%	1.35%	1.02%

Frequently Asked Questions

Can I hold both PEXL and PWC in my portfolio?

PEXL and PWC have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEXL or PWC?

PEXL has higher volatility (8.72%) compared to PWC (2.87%). In terms of maximum drawdown, PEXL dropped -36.76% vs PWC's -78.13%.

Which ETF is better, PEXL or PWC?

On 5-year performance, PEXL leads with 12.45% vs 6.41% for PWC. Both ETFs have the same 0.60% expense ratio. On volatility, PWC has been the lower-risk option at 2.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PEXL or PWC?

Over the 5-year period, PEXL has performed better with a 12.45% return vs 6.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PEXL or PWC?

PEXL and PWC have the same expense ratio: 0.60% per year.

Which ETF pays a higher dividend yield, PEXL or PWC?

PWC has the higher dividend yield at 1.80%, compared with 0.30% for PEXL.

What is the main difference between PEXL and PWC?

PEXL tracks Pacer US Export Leaders Index, while PWC tracks Dynamic Market Intellidex Index. They also come from different issuers: Pacer and Invesco.

Which has better risk-adjusted returns?

PEXL currently has the higher Sharpe Ratio (2.38 vs 0.88), 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.