PEZ vs. FTGC
PEZ (Invesco DWA Consumer Cyclicals Momentum ETF) and FTGC (First Trust Global Tactical Commodity Strategy Fund) are both exchange-traded funds - PEZ is a Momentum fund tracking the DWA Consumer Cyclicals Technical Leaders Index, while FTGC is a Commodities fund actively managed by First Trust. PEZ is passively managed, while FTGC is actively managed. Over the past 10 years, PEZ returned 10.15%/yr vs 7.28%/yr for FTGC. At a 0.17 correlation, their price movements are largely independent. PEZ charges 0.60%/yr vs 0.95%/yr for FTGC.
Performance
PEZ vs. FTGC - Performance Comparison
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Returns By Period
In the year-to-date period, PEZ achieves a -1.07% return, which is significantly lower than FTGC's 20.23% return. Over the past 10 years, PEZ has outperformed FTGC with an annualized return of 10.15%, while FTGC has yielded a comparatively lower 7.28% annualized return.
PEZ
- 1D
- -0.31%
- 1M
- 4.13%
- YTD
- -1.07%
- 6M
- -3.66%
- 1Y
- 8.49%
- 3Y*
- 15.36%
- 5Y*
- 2.72%
- 10Y*
- 10.15%
FTGC
- 1D
- -0.24%
- 1M
- -6.30%
- YTD
- 20.23%
- 6M
- 20.44%
- 1Y
- 26.86%
- 3Y*
- 14.70%
- 5Y*
- 12.56%
- 10Y*
- 7.28%
PEZ vs. FTGC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PEZ Invesco DWA Consumer Cyclicals Momentum ETF | -1.07% | 5.40% | 20.06% | 29.55% | -29.59% | 20.35% | 38.97% | 18.05% | -6.85% | 19.87% |
FTGC First Trust Global Tactical Commodity Strategy Fund | 20.23% | 14.61% | 9.96% | -5.36% | 17.36% | 27.95% | 2.17% | 6.40% | -12.75% | 2.73% |
Correlation
The correlation between PEZ and FTGC is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2013 | 0.17 |
The correlation between PEZ and FTGC shifts across timeframes, from -0.15 (1 year) to 0.19 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
PEZ vs. FTGC — Risk / Return Rank
PEZ
FTGC
PEZ vs. FTGC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Consumer Cyclicals Momentum ETF (PEZ) and First Trust Global Tactical Commodity Strategy Fund (FTGC). 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.
| PEZ | FTGC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.31 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.54 | 2.74 | -2.20 |
| Martin ratioReturn relative to average drawdown | 1.38 | 9.43 | -8.05 |
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Drawdowns
PEZ vs. FTGC - Drawdown Comparison
The maximum PEZ drawdown since its inception was -58.39%, roughly equal to the maximum FTGC drawdown of -59.47%. Use the drawdown chart below to compare losses from any high point for PEZ and FTGC.
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Drawdown Indicators
| PEZ | FTGC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.39% | -59.47% | +1.08% |
Max Drawdown (1Y)Largest decline over 1 year | -15.83% | -9.84% | -5.99% |
Max Drawdown (3Y)Largest decline over 3 years | -31.48% | -10.39% | -21.09% |
Max Drawdown (5Y)Largest decline over 5 years | -41.72% | -22.64% | -19.08% |
Max Drawdown (10Y)Largest decline over 10 years | -52.05% | -35.91% | -16.14% |
Current DrawdownCurrent decline from peak | -8.32% | -9.84% | +1.52% |
Average DrawdownAverage peak-to-trough decline | -13.84% | -27.34% | +13.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.17% | 2.98% | +3.19% |
Volatility
PEZ vs. FTGC - Volatility Comparison
Invesco DWA Consumer Cyclicals Momentum ETF (PEZ) has a higher volatility of 3.87% compared to First Trust Global Tactical Commodity Strategy Fund (FTGC) at 2.99%. This indicates that PEZ's price experiences larger fluctuations and is considered to be riskier than FTGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PEZ | FTGC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 2.99% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 15.01% | 13.17% | +1.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.02% | 15.69% | +4.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.36% | 15.86% | +8.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.08% | 14.71% | +10.37% |
PEZ vs. FTGC - Expense Ratio Comparison
PEZ has a 0.60% expense ratio, which is lower than FTGC's 0.95% expense ratio.
Dividends
PEZ vs. FTGC - Dividend Comparison
PEZ's dividend yield for the trailing twelve months is around 0.36%, less than FTGC's 15.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTGC First Trust Global Tactical Commodity Strategy Fund | 15.95% | 17.74% | 3.05% | 3.34% | 10.35% | 7.21% | 0.00% | 0.81% | 0.80% | 1.21% | 0.00% | 0.00% |
PEZ Invesco DWA Consumer Cyclicals Momentum ETF | 0.36% | 0.11% | 0.12% | 0.60% | 0.43% | 0.23% | 0.39% | 0.01% | 0.40% | 0.42% | 0.83% | 0.64% |
Frequently Asked Questions
PEZ and FTGC have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PEZ has higher volatility (3.87%) compared to FTGC (2.99%). In terms of maximum drawdown, PEZ dropped -58.39% vs FTGC's -59.47%.
On 10-year performance, PEZ leads with 10.15% vs 7.28% for FTGC. On fees, PEZ is cheaper at 0.60% per year. On volatility, FTGC has been the lower-risk option at 2.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PEZ has performed better with a 10.15% return vs 7.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PEZ is cheaper with a 0.60% expense ratio, compared with 0.95% for FTGC.
FTGC has the higher dividend yield at 15.95%, compared with 0.36% for PEZ.
PEZ is categorized as Momentum, while FTGC is Commodities. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.60% for PEZ and 0.95% for FTGC.
FTGC currently has the higher Sharpe Ratio (1.72 vs 0.43), 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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