PEZ vs. XRT

Last updated Jun 4, 2026

PEZ (Invesco DWA Consumer Cyclicals Momentum ETF) and XRT (SPDR S&P Retail ETF) are both exchange-traded funds - PEZ is a Momentum fund tracking the DWA Consumer Cyclicals Technical Leaders Index, while XRT is a Consumer Discretionary Equities fund tracking the S&P Retail Select Industry. Both are passively managed. Over the past 10 years, PEZ returned 9.46%/yr vs 8.56%/yr for XRT. A 0.79 correlation means they provide meaningful diversification when combined. PEZ charges 0.60%/yr vs 0.35%/yr for XRT.

Performance

PEZ vs. XRT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Consumer Cyclicals Momentum ETF (PEZ) and SPDR S&P Retail ETF (XRT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PEZ achieves a -4.23% return, which is significantly lower than XRT's -1.99% return. Over the past 10 years, PEZ has outperformed XRT with an annualized return of 9.46%, while XRT has yielded a comparatively lower 8.56% annualized return.

PEZ

• 1D: 0.45%
• 1M: 0.97%
• YTD: -4.23%
• 6M: -0.27%
• 1Y: 5.43%
• 3Y*: 14.83%
• 5Y*: 2.63%
• 10Y*: 9.46%

XRT

• 1D: -0.39%
• 1M: -0.29%
• YTD: -1.99%
• 6M: -2.00%
• 1Y: 8.44%
• 3Y*: 13.38%
• 5Y*: -0.84%
• 10Y*: 8.56%

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

PEZ vs. XRT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEZ Invesco DWA Consumer Cyclicals Momentum ETF	-4.23%	5.40%	20.06%	29.55%	-29.59%	20.35%	38.97%	18.05%	-6.85%	19.87%
XRT SPDR S&P Retail ETF	-1.99%	8.07%	11.78%	21.53%	-31.64%	42.60%	41.91%	14.12%	-8.04%	4.22%

Correlation

The correlation between PEZ and XRT is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Oct 13, 2006	0.79

The correlation between PEZ and XRT has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.

PEZ vs. XRT - Sectors Allocation Comparison

Sectors	PEZ	XRT
Consumer Cyclical	66.0%	73.6%
Communication Services	11.9%	1.4%
Consumer Defensive	8.7%	20.9%
Healthcare	6.9%	1.4%
Technology	4.0%	1.4%
Industrials	3.8%	-
Real Estate	1.9%	-
Financial Services	0.6%	-
Basic Materials	-	-
Energy	-	1.4%
Utilities	-	-

Return for Risk

PEZ vs. XRT — Risk / Return Rank

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

PEZ

PEZ Risk / Return Rank: 13
PEZ Sharpe Ratio Rank: 13
PEZ Sortino Ratio Rank: 12
PEZ Omega Ratio Rank: 12
PEZ Calmar Ratio Rank: 13
PEZ Martin Ratio Rank: 13

XRT

XRT Risk / Return Rank: 15
XRT Sharpe Ratio Rank: 15
XRT Sortino Ratio Rank: 15
XRT Omega Ratio Rank: 14
XRT Calmar Ratio Rank: 16
XRT Martin Ratio Rank: 16

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.

PEZ vs. XRT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Consumer Cyclicals Momentum ETF (PEZ) and SPDR S&P Retail ETF (XRT). 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.

	PEZ	XRT	Difference
Sharpe ratio: Return per unit of total volatility	0.27	0.42	-0.14
Sortino ratio: Return per unit of downside risk	0.54	0.76	-0.22
Omega ratio: Gain probability vs. loss probability	1.06	1.08	-0.02
Calmar ratio: Return relative to maximum drawdown	0.34	0.63	-0.28
Martin ratio: Return relative to average drawdown	0.91	1.45	-0.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEZ vs. XRT - Sharpe Ratio Comparison

The current PEZ Sharpe Ratio is 0.27, which is lower than the XRT Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of PEZ and XRT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PEZ	XRT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.27	0.42	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	-0.03	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.32	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.35	-0.02

Drawdowns

PEZ vs. XRT - Drawdown Comparison

The maximum PEZ drawdown since its inception was -58.39%, smaller than the maximum XRT drawdown of -65.81%. Use the drawdown chart below to compare losses from any high point for PEZ and XRT.

Drawdown Indicators

	PEZ	XRT	Difference
Max Drawdown Largest peak-to-trough decline	-58.39%	-65.81%	+7.42%
Max Drawdown (1Y) Largest decline over 1 year	-15.83%	-13.53%	-2.30%
Max Drawdown (3Y) Largest decline over 3 years	-31.48%	-25.62%	-5.86%
Max Drawdown (5Y) Largest decline over 5 years	-41.72%	-44.57%	+2.85%
Max Drawdown (10Y) Largest decline over 10 years	-52.05%	-47.02%	-5.03%
Current Drawdown Current decline from peak	-11.25%	-13.82%	+2.57%
Average Drawdown Average peak-to-trough decline	-13.86%	-15.00%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.96%	5.85%	+0.11%

Volatility

PEZ vs. XRT - Volatility Comparison

The current volatility for Invesco DWA Consumer Cyclicals Momentum ETF (PEZ) is 4.91%, while SPDR S&P Retail ETF (XRT) has a volatility of 6.50%. This indicates that PEZ experiences smaller price fluctuations and is considered to be less risky than XRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEZ	XRT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.91%	6.50%	-1.59%
Volatility (6M) Calculated over the trailing 6-month period	15.13%	13.63%	+1.50%
Volatility (1Y) Calculated over the trailing 1-year period	20.07%	20.42%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.48%	26.90%	-2.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.06%	27.16%	-2.10%

PEZ vs. XRT - Expense Ratio Comparison

PEZ has a 0.60% expense ratio, which is higher than XRT's 0.35% expense ratio.

Dividends

PEZ vs. XRT - Dividend Comparison

PEZ's dividend yield for the trailing twelve months is around 0.22%, less than XRT's 0.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEZ Invesco DWA Consumer Cyclicals Momentum ETF	0.22%	0.11%	0.12%	0.60%	0.43%	0.23%	0.39%	0.01%	0.40%	0.42%	0.83%	0.64%
XRT SPDR S&P Retail ETF	0.83%	0.77%	1.52%	1.40%	2.15%	1.55%	1.01%	1.57%	1.51%	1.52%	1.36%	1.30%

Frequently Asked Questions

Can I hold both PEZ and XRT in my portfolio?

PEZ and XRT have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEZ or XRT?

XRT has higher volatility (6.50%) compared to PEZ (4.91%). In terms of maximum drawdown, PEZ dropped -58.39% vs XRT's -65.81%.

Which ETF is better, PEZ or XRT?

On 10-year performance, PEZ leads with 9.46% vs 8.56% for XRT. On fees, XRT is cheaper at 0.35% per year. On volatility, PEZ has been the lower-risk option at 4.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PEZ or XRT?

Over the 10-year period, PEZ has performed better with a 9.46% return vs 8.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PEZ or XRT?

XRT is cheaper with a 0.35% expense ratio, compared with 0.60% for PEZ.

Which ETF pays a higher dividend yield, PEZ or XRT?

XRT has the higher dividend yield at 0.83%, compared with 0.22% for PEZ.

What is the main difference between PEZ and XRT?

PEZ is categorized as Momentum, while XRT is Consumer Discretionary Equities. PEZ tracks DWA Consumer Cyclicals Technical Leaders Index, while XRT tracks S&P Retail Select Industry. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.60% for PEZ and 0.35% for XRT.

Which has better risk-adjusted returns?

XRT currently has the higher Sharpe Ratio (0.42 vs 0.27), 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.