PIO vs. IVV
Compare and contrast key facts about Invesco Global Water ETF (PIO) and iShares Core S&P 500 ETF (IVV).
PIO and IVV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PIO is a passively managed fund by Invesco that tracks the performance of the NASDAQ OMX Global Water Index. It was launched on Jun 13, 2007. IVV is a passively managed fund by iShares that tracks the performance of the S&P 500 Index. It was launched on May 15, 2000. Both PIO and IVV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PIO or IVV.
Performance
PIO vs. IVV - Performance Comparison
Returns By Period
In the year-to-date period, PIO achieves a 3.50% return, which is significantly lower than IVV's 25.50% return. Over the past 10 years, PIO has underperformed IVV with an annualized return of 6.84%, while IVV has yielded a comparatively higher 13.13% annualized return.
PIO
3.50%
-2.87%
-4.65%
14.95%
7.95%
6.84%
IVV
25.50%
1.17%
12.21%
32.17%
15.57%
13.13%
Key characteristics
| PIO | IVV | |
|---|---|---|
| Sharpe Ratio | 1.05 | 2.62 |
| Sortino Ratio | 1.50 | 3.51 |
| Omega Ratio | 1.18 | 1.49 |
| Calmar Ratio | 0.93 | 3.79 |
| Martin Ratio | 3.92 | 17.04 |
| Ulcer Index | 3.92% | 1.87% |
| Daily Std Dev | 14.67% | 12.16% |
| Max Drawdown | -64.91% | -55.25% |
| Current Drawdown | -6.05% | -1.35% |
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PIO vs. IVV - Expense Ratio Comparison
PIO has a 0.75% expense ratio, which is higher than IVV's 0.03% expense ratio.
Correlation
The correlation between PIO and IVV is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
PIO vs. IVV - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Water ETF (PIO) and iShares Core S&P 500 ETF (IVV). 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.
Dividends
PIO vs. IVV - Dividend Comparison
PIO's dividend yield for the trailing twelve months is around 0.84%, less than IVV's 1.25% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIO Invesco Global Water ETF | 0.84% | 0.84% | 1.02% | 1.19% | 0.88% | 1.19% | 2.00% | 1.00% | 1.45% | 1.62% | 1.42% | 1.50% |
IVV iShares Core S&P 500 ETF | 1.25% | 1.44% | 1.66% | 1.20% | 1.57% | 1.99% | 2.21% | 1.75% | 2.01% | 2.27% | 1.83% | 1.80% |
Drawdowns
PIO vs. IVV - Drawdown Comparison
The maximum PIO drawdown since its inception was -64.91%, which is greater than IVV's maximum drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for PIO and IVV. For additional features, visit the drawdowns tool.
Volatility
PIO vs. IVV - Volatility Comparison
The current volatility for Invesco Global Water ETF (PIO) is 3.22%, while iShares Core S&P 500 ETF (IVV) has a volatility of 4.09%. This indicates that PIO experiences smaller price fluctuations and is considered to be less risky than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.