PIO vs. VOO
Compare and contrast key facts about Invesco Global Water ETF (PIO) and Vanguard S&P 500 ETF (VOO).
PIO and VOO 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. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010. Both PIO and VOO 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 VOO.
Performance
PIO vs. VOO - Performance Comparison
Returns By Period
In the year-to-date period, PIO achieves a 5.08% return, which is significantly lower than VOO's 26.16% return. Over the past 10 years, PIO has underperformed VOO with an annualized return of 6.96%, while VOO has yielded a comparatively higher 13.18% annualized return.
PIO
5.08%
0.73%
-2.23%
16.15%
8.26%
6.96%
VOO
26.16%
1.77%
13.62%
32.33%
15.68%
13.18%
Key characteristics
| PIO | VOO | |
|---|---|---|
| Sharpe Ratio | 1.10 | 2.70 |
| Sortino Ratio | 1.56 | 3.60 |
| Omega Ratio | 1.19 | 1.50 |
| Calmar Ratio | 1.04 | 3.90 |
| Martin Ratio | 4.10 | 17.65 |
| Ulcer Index | 3.94% | 1.86% |
| Daily Std Dev | 14.70% | 12.19% |
| Max Drawdown | -64.91% | -33.99% |
| Current Drawdown | -4.61% | -0.86% |
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PIO vs. VOO - Expense Ratio Comparison
PIO has a 0.75% expense ratio, which is higher than VOO's 0.03% expense ratio.
Correlation
The correlation between PIO and VOO 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. VOO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Water ETF (PIO) and Vanguard S&P 500 ETF (VOO). 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. VOO - Dividend Comparison
PIO's dividend yield for the trailing twelve months is around 0.82%, less than VOO's 1.24% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIO Invesco Global Water ETF | 0.82% | 0.84% | 1.02% | 1.19% | 0.88% | 1.19% | 2.00% | 1.00% | 1.45% | 1.62% | 1.42% | 1.50% |
VOO Vanguard S&P 500 ETF | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% | 1.85% | 1.84% |
Drawdowns
PIO vs. VOO - Drawdown Comparison
The maximum PIO drawdown since its inception was -64.91%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for PIO and VOO. For additional features, visit the drawdowns tool.
Volatility
PIO vs. VOO - Volatility Comparison
The current volatility for Invesco Global Water ETF (PIO) is 3.30%, while Vanguard S&P 500 ETF (VOO) has a volatility of 3.99%. This indicates that PIO experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.