PIZ vs. MIOFX
Compare and contrast key facts about Invesco DWA Developed Markets Momentum ETF (PIZ) and Marsico International Opportunities Fund (MIOFX).
PIZ is a passively managed fund by Invesco that tracks the performance of the Dorsey Wright Developed Markets Technical Leaders Index. It was launched on Dec 28, 2007. MIOFX is managed by Marsico Investment Fund. It was launched on Jun 29, 2000.
Performance
PIZ vs. MIOFX - Performance Comparison
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PIZ vs. MIOFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIZ Invesco DWA Developed Markets Momentum ETF | 1.42% | 37.22% | 16.30% | 17.96% | -30.48% | 20.53% | 17.96% | 27.51% | -16.15% | 30.96% |
MIOFX Marsico International Opportunities Fund | -10.27% | 28.54% | 36.31% | 17.96% | -23.71% | 4.93% | 20.59% | 31.39% | -18.18% | 44.09% |
Returns By Period
In the year-to-date period, PIZ achieves a 1.42% return, which is significantly higher than MIOFX's -10.27% return. Both investments have delivered pretty close results over the past 10 years, with PIZ having a 9.66% annualized return and MIOFX not far ahead at 10.08%.
PIZ
- 1D
- 4.43%
- 1M
- -10.41%
- YTD
- 1.42%
- 6M
- 4.63%
- 1Y
- 32.20%
- 3Y*
- 20.23%
- 5Y*
- 9.25%
- 10Y*
- 9.66%
MIOFX
- 1D
- -0.63%
- 1M
- -13.75%
- YTD
- -10.27%
- 6M
- -14.10%
- 1Y
- 13.19%
- 3Y*
- 18.88%
- 5Y*
- 8.02%
- 10Y*
- 10.08%
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PIZ vs. MIOFX - Expense Ratio Comparison
PIZ has a 0.80% expense ratio, which is lower than MIOFX's 1.50% expense ratio.
Return for Risk
PIZ vs. MIOFX — Risk / Return Rank
PIZ
MIOFX
PIZ vs. MIOFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Developed Markets Momentum ETF (PIZ) and Marsico International Opportunities Fund (MIOFX). 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.
| PIZ | MIOFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.51 | 0.59 | +0.92 |
Sortino ratioReturn per unit of downside risk | 2.11 | 0.97 | +1.15 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.13 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 2.19 | 0.66 | +1.53 |
Martin ratioReturn relative to average drawdown | 9.18 | 2.25 | +6.93 |
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
| PIZ | MIOFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.51 | 0.59 | +0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.42 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.55 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.31 | -0.06 |
Correlation
The correlation between PIZ and MIOFX is 0.84, 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.
Dividends
PIZ vs. MIOFX - Dividend Comparison
PIZ's dividend yield for the trailing twelve months is around 1.54%, less than MIOFX's 5.29% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIZ Invesco DWA Developed Markets Momentum ETF | 1.54% | 1.55% | 1.68% | 1.86% | 2.04% | 1.01% | 0.37% | 1.58% | 1.06% | 1.30% | 2.21% | 1.09% |
MIOFX Marsico International Opportunities Fund | 5.29% | 4.75% | 4.95% | 0.38% | 0.17% | 13.41% | 2.44% | 4.20% | 9.36% | 0.00% | 0.00% | 0.00% |
Drawdowns
PIZ vs. MIOFX - Drawdown Comparison
The maximum PIZ drawdown since its inception was -60.61%, smaller than the maximum MIOFX drawdown of -63.83%. Use the drawdown chart below to compare losses from any high point for PIZ and MIOFX.
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Drawdown Indicators
| PIZ | MIOFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.61% | -63.83% | +3.22% |
Max Drawdown (1Y)Largest decline over 1 year | -14.35% | -15.37% | +1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -40.93% | -38.75% | -2.18% |
Max Drawdown (10Y)Largest decline over 10 years | -40.93% | -38.75% | -2.18% |
Current DrawdownCurrent decline from peak | -10.56% | -15.37% | +4.81% |
Average DrawdownAverage peak-to-trough decline | -14.99% | -17.22% | +2.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 4.49% | -1.07% |
Volatility
PIZ vs. MIOFX - Volatility Comparison
Invesco DWA Developed Markets Momentum ETF (PIZ) has a higher volatility of 10.37% compared to Marsico International Opportunities Fund (MIOFX) at 7.97%. This indicates that PIZ's price experiences larger fluctuations and is considered to be riskier than MIOFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIZ | MIOFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.37% | 7.97% | +2.40% |
Volatility (6M)Calculated over the trailing 6-month period | 14.75% | 13.36% | +1.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.44% | 20.34% | +1.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.44% | 19.30% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.32% | 18.34% | +0.98% |