PID vs. RWJ

Last updated Jun 3, 2026

PID (Invesco International Dividend Achievers™ ETF) and RWJ (Invesco S&P SmallCap 600 Revenue ETF) are both exchange-traded funds - PID is a Global Equities fund tracking the Nasdaq International Dividend Achievers (NR), while RWJ is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Revenue-Weighted Index. Both are passively managed. Over the past 10 years, PID returned 8.91%/yr vs 13.14%/yr for RWJ. A 0.72 correlation means they provide meaningful diversification when combined. PID charges 0.56%/yr vs 0.39%/yr for RWJ.

Performance

PID vs. RWJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco International Dividend Achievers™ ETF (PID) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PID achieves a 6.59% return, which is significantly lower than RWJ's 17.13% return. Over the past 10 years, PID has underperformed RWJ with an annualized return of 8.91%, while RWJ has yielded a comparatively higher 13.14% annualized return.

PID

• 1D: 0.19%
• 1M: 1.86%
• YTD: 6.59%
• 6M: 7.96%
• 1Y: 17.46%
• 3Y*: 12.93%
• 5Y*: 8.72%
• 10Y*: 8.91%

RWJ

• 1D: 0.48%
• 1M: 1.41%
• YTD: 17.13%
• 6M: 17.46%
• 1Y: 39.84%
• 3Y*: 16.85%
• 5Y*: 7.98%
• 10Y*: 13.14%

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

PID vs. RWJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PID Invesco International Dividend Achievers™ ETF	6.59%	24.45%	3.08%	14.28%	-6.48%	24.49%	-6.56%	25.87%	-11.46%	19.05%
RWJ Invesco S&P SmallCap 600 Revenue ETF	17.13%	7.75%	11.81%	16.21%	-10.97%	52.82%	20.83%	20.29%	-16.95%	5.30%

Correlation

The correlation between PID and RWJ is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Feb 25, 2008	0.72

The correlation between PID and RWJ has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.

PID vs. RWJ - Sectors Allocation Comparison

Sectors	PID	RWJ
Financial Services	17.5%	11.0%
Utilities	14.2%	0.9%
Communication Services	13.8%	3.3%
Energy	13.3%	7.4%
Technology	8.7%	9.9%
Healthcare	8.4%	11.2%
Industrials	7.9%	16.2%
Consumer Cyclical	6.4%	23.9%
Consumer Defensive	6.0%	6.9%
Basic Materials	3.4%	5.2%
Real Estate	0.4%	4.0%

Return for Risk

PID vs. RWJ — Risk / Return Rank

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

PID

PID Risk / Return Rank: 52
PID Sharpe Ratio Rank: 53
PID Sortino Ratio Rank: 56
PID Omega Ratio Rank: 53
PID Calmar Ratio Rank: 48
PID Martin Ratio Rank: 49

RWJ

RWJ Risk / Return Rank: 63
RWJ Sharpe Ratio Rank: 61
RWJ Sortino Ratio Rank: 63
RWJ Omega Ratio Rank: 57
RWJ Calmar Ratio Rank: 69
RWJ Martin Ratio Rank: 62

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.

PID vs. RWJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco International Dividend Achievers™ ETF (PID) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). 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.

	PID	RWJ	Difference
Sharpe ratio Return per unit of total volatility	1.82	2.07	-0.25
Sortino ratio Return per unit of downside risk	2.69	2.96	-0.26
Omega ratio Gain probability vs. loss probability	1.33	1.36	-0.03
Calmar ratio Return relative to maximum drawdown	2.43	3.49	-1.06
Martin ratio Return relative to average drawdown	8.33	11.20	-2.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PID vs. RWJ - Sharpe Ratio Comparison

The current PID Sharpe Ratio is 1.82, which is comparable to the RWJ Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of PID and RWJ, 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

	PID	RWJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.82	2.07	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.34	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.50	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.46	-0.19

Drawdowns

PID vs. RWJ - Drawdown Comparison

The maximum PID drawdown since its inception was -66.34%, which is greater than RWJ's maximum drawdown of -55.97%. Use the drawdown chart below to compare losses from any high point for PID and RWJ.

Drawdown Indicators

	PID	RWJ	Difference
Max Drawdown Largest peak-to-trough decline	-66.34%	-55.97%	-10.37%
Max Drawdown (1Y) Largest decline over 1 year	-7.47%	-11.31%	+3.84%
Max Drawdown (3Y) Largest decline over 3 years	-13.34%	-29.29%	+15.95%
Max Drawdown (5Y) Largest decline over 5 years	-22.97%	-29.29%	+6.32%
Max Drawdown (10Y) Largest decline over 10 years	-46.07%	-51.33%	+5.26%
Current Drawdown Current decline from peak	-1.14%	0.00%	-1.14%
Average Drawdown Average peak-to-trough decline	-13.04%	-9.24%	-3.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	3.53%	-1.35%

Volatility

PID vs. RWJ - Volatility Comparison

The current volatility for Invesco International Dividend Achievers™ ETF (PID) is 2.55%, while Invesco S&P SmallCap 600 Revenue ETF (RWJ) has a volatility of 4.79%. This indicates that PID experiences smaller price fluctuations and is considered to be less risky than RWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PID	RWJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	4.79%	-2.24%
Volatility (6M) Calculated over the trailing 6-month period	7.55%	12.25%	-4.70%
Volatility (1Y) Calculated over the trailing 1-year period	9.65%	19.36%	-9.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.96%	23.71%	-9.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.84%	26.14%	-8.30%

PID vs. RWJ - Expense Ratio Comparison

PID has a 0.56% expense ratio, which is higher than RWJ's 0.39% expense ratio.

Dividends

PID vs. RWJ - Dividend Comparison

PID's dividend yield for the trailing twelve months is around 3.24%, more than RWJ's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PID Invesco International Dividend Achievers™ ETF	3.24%	3.28%	3.88%	3.31%	3.30%	3.30%	3.16%	3.99%	3.87%	3.46%	3.90%	4.48%
RWJ Invesco S&P SmallCap 600 Revenue ETF	1.00%	1.11%	1.15%	1.34%	1.02%	0.61%	0.89%	1.22%	1.44%	1.11%	0.60%	0.74%

Frequently Asked Questions

Can I hold both PID and RWJ in my portfolio?

PID and RWJ have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PID or RWJ?

RWJ has higher volatility (4.79%) compared to PID (2.55%). In terms of maximum drawdown, PID dropped -66.34% vs RWJ's -55.97%.

Which ETF is better, PID or RWJ?

On 10-year performance, RWJ leads with 13.14% vs 8.91% for PID. On fees, RWJ is cheaper at 0.39% per year. On volatility, PID has been the lower-risk option at 2.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PID or RWJ?

Over the 10-year period, RWJ has performed better with a 13.14% return vs 8.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PID or RWJ?

RWJ is cheaper with a 0.39% expense ratio, compared with 0.56% for PID.

Which ETF pays a higher dividend yield, PID or RWJ?

PID has the higher dividend yield at 3.24%, compared with 1.00% for RWJ.

What is the main difference between PID and RWJ?

PID is categorized as Global Equities, while RWJ is Small Cap Value Equities. PID tracks Nasdaq International Dividend Achievers (NR), while RWJ tracks S&P SmallCap 600 Revenue-Weighted Index. Their fees differ too: 0.56% for PID and 0.39% for RWJ.

Which has better risk-adjusted returns?

RWJ currently has the higher Sharpe Ratio (2.07 vs 1.82), 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.