PJFM vs. PWC

Last updated Apr 1, 2026

Compare and contrast key facts about PGIM Jennison Focused Mid-Cap ETF (PJFM) and Invesco Dynamic Market ETF (PWC).

PJFM and PWC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PJFM is an actively managed fund by PGIM. It was launched on Dec 14, 2023. PWC is a passively managed fund by Invesco that tracks the performance of the Dynamic Market Intellidex Index. It was launched on May 1, 2003.

Performance

PJFM vs. PWC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison Focused Mid-Cap ETF (PJFM) and Invesco Dynamic Market ETF (PWC). The values are adjusted to include any dividend payments, if applicable.

PJFM vs. PWC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PJFM PGIM Jennison Focused Mid-Cap ETF	-0.66%	7.50%	15.64%	-0.08%
PWC Invesco Dynamic Market ETF	2.60%	6.15%	17.46%	0.47%

Returns By Period

In the year-to-date period, PJFM achieves a -0.66% return, which is significantly lower than PWC's 2.60% return.

PJFM

• 1D: 3.44%
• 1M: -6.07%
• YTD: -0.66%
• 6M: 2.18%
• 1Y: 13.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PWC

• 1D: 1.17%
• 1M: -5.11%
• YTD: 2.60%
• 6M: 2.73%
• 1Y: 6.46%
• 3Y*: 12.67%
• 5Y*: 6.65%
• 10Y*: 9.15%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PJFM vs. PWC - Expense Ratio Comparison

PJFM has a 0.49% expense ratio, which is lower than PWC's 0.60% expense ratio.

PWC

Invesco Dynamic Market ETF

PJFM

PGIM Jennison Focused Mid-Cap ETF

Return for Risk

PJFM vs. PWC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PJFM

PJFM Risk / Return Rank: 36
PJFM Sharpe Ratio Rank: 34
PJFM Sortino Ratio Rank: 35
PJFM Omega Ratio Rank: 36
PJFM Calmar Ratio Rank: 35
PJFM Martin Ratio Rank: 40

PWC

PWC Risk / Return Rank: 29
PWC Sharpe Ratio Rank: 26
PWC Sortino Ratio Rank: 26
PWC Omega Ratio Rank: 26
PWC Calmar Ratio Rank: 29
PWC Martin Ratio Rank: 35

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PJFM vs. PWC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison Focused Mid-Cap ETF (PJFM) and Invesco Dynamic Market ETF (PWC). 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.

	PJFM	PWC	Difference
Sharpe ratio Return per unit of total volatility	0.66	0.46	+0.20
Sortino ratio Return per unit of downside risk	1.04	0.74	+0.30
Omega ratio Gain probability vs. loss probability	1.15	1.10	+0.05
Calmar ratio Return relative to maximum drawdown	0.93	0.70	+0.23
Martin ratio Return relative to average drawdown	3.79	3.23	+0.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PJFM vs. PWC - Sharpe Ratio Comparison

The current PJFM Sharpe Ratio is 0.66, which is higher than the PWC Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of PJFM and PWC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PJFM	PWC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.66	0.46	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.41	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.11	+0.45

Correlation

The correlation between PJFM and PWC is 0.76, 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

PJFM vs. PWC - Dividend Comparison

PJFM's dividend yield for the trailing twelve months is around 0.63%, less than PWC's 1.73% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PJFM PGIM Jennison Focused Mid-Cap ETF	0.63%	0.62%	0.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PWC Invesco Dynamic Market ETF	1.73%	1.77%	1.58%	1.67%	1.51%	0.56%	1.09%	0.95%	1.44%	1.75%	1.35%	1.02%

Drawdowns

PJFM vs. PWC - Drawdown Comparison

The maximum PJFM drawdown since its inception was -22.84%, smaller than the maximum PWC drawdown of -78.13%. Use the drawdown chart below to compare losses from any high point for PJFM and PWC.

Drawdown Indicators

	PJFM	PWC	Difference
Max Drawdown Largest peak-to-trough decline	-22.84%	-78.13%	+55.29%
Max Drawdown (1Y) Largest decline over 1 year	-14.33%	-11.26%	-3.07%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.58%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.45%	—
Current Drawdown Current decline from peak	-7.73%	-5.36%	-2.37%
Average Drawdown Average peak-to-trough decline	-3.87%	-36.46%	+32.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	2.45%	+1.09%

Volatility

PJFM vs. PWC - Volatility Comparison

PGIM Jennison Focused Mid-Cap ETF (PJFM) has a higher volatility of 7.20% compared to Invesco Dynamic Market ETF (PWC) at 3.07%. This indicates that PJFM's price experiences larger fluctuations and is considered to be riskier than PWC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PJFM	PWC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.20%	3.07%	+4.13%
Volatility (6M) Calculated over the trailing 6-month period	11.67%	7.37%	+4.30%
Volatility (1Y) Calculated over the trailing 1-year period	20.04%	14.30%	+5.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.59%	16.29%	+1.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.59%	18.84%	-1.25%