PIE vs. TUR
Compare and contrast key facts about Invesco DWA Emerging Markets Momentum ETF (PIE) and iShares MSCI Turkey ETF (TUR).
PIE and TUR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PIE is a passively managed fund by Invesco that tracks the performance of the Dorsey Wright Emerging Markets Technical Leaders Index. It was launched on Dec 28, 2007. TUR is a passively managed fund by iShares that tracks the performance of the MSCI Turkey Investable Market Index. It was launched on Mar 26, 2008. Both PIE and TUR are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PIE vs. TUR - Performance Comparison
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PIE vs. TUR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIE Invesco DWA Emerging Markets Momentum ETF | 12.21% | 25.98% | -0.27% | 13.71% | -28.77% | 14.30% | 21.23% | 26.11% | -22.04% | 41.80% |
TUR iShares MSCI Turkey ETF | 12.41% | -1.54% | 12.91% | -8.83% | 105.75% | -27.41% | -1.19% | 14.49% | -41.46% | 37.58% |
Returns By Period
The year-to-date returns for both investments are quite close, with PIE having a 12.21% return and TUR slightly higher at 12.41%. Over the past 10 years, PIE has outperformed TUR with an annualized return of 7.94%, while TUR has yielded a comparatively lower 1.67% annualized return.
PIE
- 1D
- 1.80%
- 1M
- -5.89%
- YTD
- 12.21%
- 6M
- 8.97%
- 1Y
- 48.58%
- 3Y*
- 15.32%
- 5Y*
- 4.23%
- 10Y*
- 7.94%
TUR
- 1D
- 0.10%
- 1M
- -2.27%
- YTD
- 12.41%
- 6M
- 11.81%
- 1Y
- 20.67%
- 3Y*
- 8.93%
- 5Y*
- 13.65%
- 10Y*
- 1.67%
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PIE vs. TUR - Expense Ratio Comparison
PIE has a 0.90% expense ratio, which is higher than TUR's 0.59% expense ratio.
Return for Risk
PIE vs. TUR — Risk / Return Rank
PIE
TUR
PIE vs. TUR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Emerging Markets Momentum ETF (PIE) and iShares MSCI Turkey ETF (TUR). 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.
| PIE | TUR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.09 | 0.93 | +1.17 |
Sortino ratioReturn per unit of downside risk | 2.65 | 1.52 | +1.12 |
Omega ratioGain probability vs. loss probability | 1.39 | 1.18 | +0.21 |
Calmar ratioReturn relative to maximum drawdown | 3.19 | 1.71 | +1.48 |
Martin ratioReturn relative to average drawdown | 14.46 | 4.06 | +10.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PIE | TUR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | 0.93 | +1.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.41 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | 0.05 | +0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.04 | +0.04 |
Correlation
The correlation between PIE and TUR is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PIE vs. TUR - Dividend Comparison
PIE's dividend yield for the trailing twelve months is around 2.10%, less than TUR's 2.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIE Invesco DWA Emerging Markets Momentum ETF | 2.10% | 2.28% | 2.33% | 2.59% | 3.45% | 1.28% | 1.32% | 2.29% | 3.32% | 1.63% | 1.48% | 0.80% |
TUR iShares MSCI Turkey ETF | 2.13% | 2.40% | 1.79% | 4.43% | 1.97% | 4.22% | 0.87% | 3.29% | 4.05% | 2.64% | 2.89% | 3.04% |
Drawdowns
PIE vs. TUR - Drawdown Comparison
The maximum PIE drawdown since its inception was -72.98%, roughly equal to the maximum TUR drawdown of -72.34%. Use the drawdown chart below to compare losses from any high point for PIE and TUR.
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Drawdown Indicators
| PIE | TUR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.98% | -72.34% | -0.64% |
Max Drawdown (1Y)Largest decline over 1 year | -15.11% | -12.24% | -2.87% |
Max Drawdown (5Y)Largest decline over 5 years | -40.32% | -31.63% | -8.69% |
Max Drawdown (10Y)Largest decline over 10 years | -40.32% | -59.25% | +18.93% |
Current DrawdownCurrent decline from peak | -6.45% | -29.26% | +22.81% |
Average DrawdownAverage peak-to-trough decline | -26.31% | -40.05% | +13.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 5.15% | -1.73% |
Volatility
PIE vs. TUR - Volatility Comparison
Invesco DWA Emerging Markets Momentum ETF (PIE) has a higher volatility of 9.27% compared to iShares MSCI Turkey ETF (TUR) at 8.33%. This indicates that PIE's price experiences larger fluctuations and is considered to be riskier than TUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIE | TUR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.27% | 8.33% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 16.60% | 14.57% | +2.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.31% | 22.36% | +0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.10% | 33.76% | -13.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.10% | 34.33% | -13.23% |