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PIZ vs. IOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PIZ vs. IOO

Last updated Aug 4, 2026
Documentation

PIZ (Invesco DWA Developed Markets Momentum ETF) and IOO (iShares Global 100 ETF) are both exchange-traded funds - PIZ is a Momentum fund tracking the Dorsey Wright Developed Markets Technical Leaders Index, while IOO is a Global Equities fund tracking the S&P Global 100 Index (Net). Both are passively managed. Over the past 10 years, PIZ returned 10.07%/yr vs 16.40%/yr for IOO. Their 0.79 correlation means they have sometimes moved together and sometimes differently. PIZ charges 0.80%/yr vs 0.40%/yr for IOO.

Performance

PIZ vs. IOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Developed Markets Momentum ETF (PIZ) and iShares Global 100 ETF (IOO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PIZ achieves a 7.58% return, which is significantly lower than IOO's 13.56% return. Over the past 10 years, PIZ has underperformed IOO with an annualized return of 10.07%, while IOO has yielded a comparatively higher 16.40% annualized return.

PIZ

1D
1.13%
1M
-4.68%
6M
0.00%
YTD
7.58%
1Y
17.42%
3Y*
21.00%
5Y*
7.22%
10Y*
10.07%
ALL TIME*
5.66%

IOO

1D
1.23%
1M
4.29%
6M
10.88%
YTD
13.56%
1Y
31.67%
3Y*
24.81%
5Y*
15.95%
10Y*
16.40%
ALL TIME*
7.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IOO

iShares Global 100 ETF
$41.97M$33.25M$35.91M

PIZ

Invesco DWA Developed Markets Momentum ETF
$5.38M$4.25M$4.38M

PIZ vs. IOO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PIZ
Invesco DWA Developed Markets Momentum ETF		7.58%37.22%16.30%17.96%-30.48%20.53%17.96%27.51%-16.15%30.96%
IOO
iShares Global 100 ETF		13.56%27.02%26.54%27.71%-16.34%26.03%18.61%30.01%-6.22%23.56%

Correlation

The correlation between PIZ and IOO is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.74

Correlation (3Y)
Balances recent behavior with more history.

0.69

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.73

Correlation (10Y)
Provides a long-term view across more market conditions.

0.75

Correlation (All Time)
Calculated using the full available price history since Jan 7, 2008

0.79

The correlation between PIZ and IOO has been stable across timeframes, ranging from 0.69 to 0.79 - a consistent structural relationship.

PIZ vs. IOO - Sectors Allocation Comparison

Sectors
PIZ
IOO

Industrials

46.9%
5.3%

Financial Services

27.8%
10.0%

Technology

15.7%
45.4%

Basic Materials

2.5%
1.7%

Consumer Defensive

1.9%
5.8%

Consumer Cyclical

1.7%
7.8%

Energy

1.5%
3.5%

Utilities

1.4%
0.5%

Healthcare

0.7%
9.2%

Real Estate

0.4%
0.2%

Communication Services

-

10.7%

Industrials

PIZ
46.9%
IOO
5.3%

Financial Services

PIZ
27.8%
IOO
10.0%

Technology

PIZ
15.7%
IOO
45.4%

Basic Materials

PIZ
2.5%
IOO
1.7%

Consumer Defensive

PIZ
1.9%
IOO
5.8%

Consumer Cyclical

PIZ
1.7%
IOO
7.8%

Energy

PIZ
1.5%
IOO
3.5%

Utilities

PIZ
1.4%
IOO
0.5%

Healthcare

PIZ
0.7%
IOO
9.2%

Real Estate

PIZ
0.4%
IOO
0.2%

Communication Services

PIZ

-

IOO
10.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco DWA Developed Markets Momentum ETF

iShares Global 100 ETF

Often compared with PIZ:
PIZ vs. IDMOPIZ vs. DSTXPIZ vs. WCMIXPIZ vs. IPOSPIZ vs. FNDFPIZ vs. PIEPIZ vs. IDHQ
Often compared with IOO:
IOO vs. IVVIOO vs. SPYIOO vs. NDQ.AXIOO vs. OEFIOO vs. NDAQIOO vs. VGTIOO vs. MOAT

Return for Risk

PIZ vs. IOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
PIZ
PIZ Risk / Return Rank: 3131
Overall Rank
PIZ Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
PIZ Sortino Ratio Rank: 3131
Sortino Ratio Rank
PIZ Omega Ratio Rank: 3030
Omega Ratio Rank
PIZ Calmar Ratio Rank: 3232
Calmar Ratio Rank
PIZ Martin Ratio Rank: 3535
Martin Ratio Rank
IOO
IOO Risk / Return Rank: 8686
Overall Rank
IOO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
IOO Sortino Ratio Rank: 8787
Sortino Ratio Rank
IOO Omega Ratio Rank: 8686
Omega Ratio Rank
IOO Calmar Ratio Rank: 8484
Calmar Ratio Rank
IOO Martin Ratio Rank: 8585
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PIZ vs. IOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Developed Markets Momentum ETF (PIZ) and iShares Global 100 ETF (IOO). 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.

PIZIOODifference
Sharpe ratioReturn per unit of total volatility
0.74
2.17

-1.43

Sortino ratioReturn per unit of downside risk
1.17
2.98

-1.80

Omega ratioGain probability vs. loss probability

1.14

1.38

-0.23

Calmar ratioReturn relative to maximum drawdown

1.10

3.20

-2.11

Martin ratioReturn relative to average drawdown

3.41

11.95

-8.54

PIZ vs. IOO - Sharpe Ratio Comparison

The current PIZ Sharpe Ratio is 0.74, which is lower than the IOO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of PIZ and IOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PIZ vs. IOO - Drawdown Comparison

The maximum PIZ drawdown since its inception was -60.61%, which is greater than IOO's maximum drawdown of -55.85%. Use the drawdown chart below to compare losses from any high point for PIZ and IOO.

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Drawdown Indicators

PIZIOODifference

Max Drawdown

Largest peak-to-trough decline

-60.61%

-55.85%

-4.76%

Max Drawdown (1Y)

Largest decline over 1 year

-15.97%

-9.94%

-6.03%

Max Drawdown (3Y)

Largest decline over 3 years

-15.97%

-19.19%

+3.22%

Max Drawdown (5Y)

Largest decline over 5 years

-40.93%

-23.52%

-17.41%

Max Drawdown (10Y)

Largest decline over 10 years

-40.93%

-31.43%

-9.50%

Current Drawdown

Current decline from peak

-11.41%

-0.18%

-11.23%

Average Drawdown

Average peak-to-trough decline

-14.86%

-11.22%

-3.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.13%

2.66%

+2.47%

Volatility

PIZ vs. IOO - Volatility Comparison

Invesco DWA Developed Markets Momentum ETF (PIZ) has a higher volatility of 8.01% compared to iShares Global 100 ETF (IOO) at 4.39%. This indicates that PIZ's price experiences larger fluctuations and is considered to be riskier than IOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PIZIOODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.01%

4.39%

+3.62%

Volatility (6M)

Calculated over the trailing 6-month period

21.44%

11.89%

+9.55%

Volatility (1Y)

Calculated over the trailing 1-year period

23.70%

14.67%

+9.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.63%

17.22%

+3.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.71%

17.74%

+1.97%

PIZ vs. IOO - Expense Ratio Comparison

PIZ has a 0.80% expense ratio, which is higher than IOO's 0.40% expense ratio.

Dividends

PIZ vs. IOO - Dividend Comparison

PIZ's dividend yield for the trailing twelve months is around 1.60%, more than IOO's 0.82% yield.

PositionTTM20252024202320222021202020192018201720162015
IOO
iShares Global 100 ETF		0.82%0.92%1.08%1.49%2.00%1.53%1.49%2.02%2.54%2.23%2.75%2.89%
PIZ
Invesco DWA Developed Markets Momentum ETF		1.60%1.55%1.68%1.86%2.04%1.01%0.37%1.58%1.06%1.30%2.21%1.09%

Frequently Asked Questions

PIZ and IOO have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PIZ has higher volatility (8.01%) compared to IOO (4.39%). In terms of maximum drawdown, PIZ dropped -60.61% vs IOO's -55.85%.

On 10-year performance, IOO leads with 16.40% vs 10.07% for PIZ. On fees, IOO is cheaper at 0.40% per year. On volatility, IOO has been the lower-risk option at 4.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IOO has performed better with a 16.40% return vs 10.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IOO is cheaper with a 0.40% expense ratio, compared with 0.80% for PIZ.

PIZ has the higher dividend yield at 1.60%, compared with 0.82% for IOO.

PIZ is categorized as Momentum, while IOO is Global Equities. PIZ tracks Dorsey Wright Developed Markets Technical Leaders Index, while IOO tracks S&P Global 100 Index (Net). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.80% for PIZ and 0.40% for IOO.

IOO currently has the higher Sharpe Ratio (2.17 vs 0.74), 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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