PGJ vs. IBIE
PGJ (Invesco Golden Dragon China ETF) and IBIE (iShares iBonds Oct 2028 Term TIPS ETF) are both exchange-traded funds - PGJ is a China Equities fund tracking the Halter USX China Index, while IBIE is a Inflation-Protected Bonds fund tracking the ICE 2028 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, PGJ returned -16.64% vs 3.41% for IBIE. At a 0.03 correlation, their price movements are largely independent. PGJ charges 0.70%/yr vs 0.10%/yr for IBIE.
Performance
PGJ vs. IBIE - Performance Comparison
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Returns By Period
In the year-to-date period, PGJ achieves a -15.55% return, which is significantly lower than IBIE's 1.90% return.
PGJ
- 1D
- -1.70%
- 1M
- 2.84%
- 6M
- -17.69%
- YTD
- -15.55%
- 1Y
- -16.64%
- 3Y*
- -1.10%
- 5Y*
- -12.61%
- 10Y*
- -0.16%
IBIE
- 1D
- 0.10%
- 1M
- 0.45%
- 6M
- 1.87%
- YTD
- 1.90%
- 1Y
- 3.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PGJ vs. IBIE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PGJ Invesco Golden Dragon China ETF | -15.55% | 13.66% | 5.91% | -4.88% |
IBIE iShares iBonds Oct 2028 Term TIPS ETF | 1.90% | 6.46% | 3.95% | 2.93% |
Correlation
The correlation between PGJ and IBIE is 0.03, 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 | 0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | 0.03 |
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Return for Risk
PGJ vs. IBIE — Risk / Return Rank
PGJ
IBIE
PGJ vs. IBIE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Golden Dragon China ETF (PGJ) and iShares iBonds Oct 2028 Term TIPS ETF (IBIE). 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.
| PGJ | IBIE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.84 | ||
| Sortino ratioReturn per unit of downside risk | -4.47 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.46 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 4.76 | -5.24 |
| Martin ratioReturn relative to average drawdown | -0.98 | 14.76 | -15.74 |
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Drawdowns
PGJ vs. IBIE - Drawdown Comparison
The maximum PGJ drawdown since its inception was -78.37%, which is greater than IBIE's maximum drawdown of -1.70%. Use the drawdown chart below to compare losses from any high point for PGJ and IBIE.
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Drawdown Indicators
| PGJ | IBIE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.37% | -1.70% | -76.67% |
Max Drawdown (1Y)Largest decline over 1 year | -35.08% | -0.72% | -34.36% |
Max Drawdown (3Y)Largest decline over 3 years | -35.08% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -66.49% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -78.37% | — | — |
Current DrawdownCurrent decline from peak | -67.81% | -0.20% | -67.61% |
Average DrawdownAverage peak-to-trough decline | -31.94% | -0.39% | -31.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.96% | 0.23% | +16.73% |
Volatility
PGJ vs. IBIE - Volatility Comparison
Invesco Golden Dragon China ETF (PGJ) has a higher volatility of 7.38% compared to iShares iBonds Oct 2028 Term TIPS ETF (IBIE) at 0.54%. This indicates that PGJ's price experiences larger fluctuations and is considered to be riskier than IBIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGJ | IBIE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.38% | 0.54% | +6.84% |
Volatility (6M)Calculated over the trailing 6-month period | 17.54% | 1.09% | +16.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.84% | 1.58% | +23.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.68% | 2.82% | +40.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.73% | 2.82% | +33.91% |
PGJ vs. IBIE - Expense Ratio Comparison
PGJ has a 0.70% expense ratio, which is higher than IBIE's 0.10% expense ratio.
Dividends
PGJ vs. IBIE - Dividend Comparison
PGJ's dividend yield for the trailing twelve months is around 3.16%, less than IBIE's 4.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIE iShares iBonds Oct 2028 Term TIPS ETF | 4.96% | 4.09% | 4.23% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PGJ Invesco Golden Dragon China ETF | 3.16% | 3.38% | 4.70% | 2.50% | 0.84% | 0.00% | 0.30% | 0.17% | 0.31% | 2.05% | 1.94% | 0.37% |
Frequently Asked Questions
PGJ and IBIE have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGJ has higher volatility (7.38%) compared to IBIE (0.54%). In terms of maximum drawdown, PGJ dropped -78.37% vs IBIE's -1.70%.
On 1-year performance, IBIE leads with 3.41% vs -16.64% for PGJ. On fees, IBIE is cheaper at 0.10% per year. On volatility, IBIE has been the lower-risk option at 0.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIE has performed better with a 3.41% return vs -16.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIE is cheaper with a 0.10% expense ratio, compared with 0.70% for PGJ.
IBIE has the higher dividend yield at 4.96%, compared with 3.16% for PGJ.
PGJ is categorized as China Equities, while IBIE is Inflation-Protected Bonds. PGJ tracks Halter USX China Index, while IBIE tracks ICE 2028 Maturity US Inflation-Linked Treasury Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.70% for PGJ and 0.10% for IBIE.
IBIE currently has the higher Sharpe Ratio (2.17 vs -0.67), 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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