PJP vs. AGNG

Last updated Jun 24, 2026

PJP (Invesco Dynamic Pharmaceuticals ETF) and AGNG (Global X Aging Population ETF) are both Health & Biotech Equities funds - PJP tracks the Dynamic Pharmaceuticals Intellidex Index while AGNG tracks the Indxx Aging Population Thematic Index. Both are passively managed. Over the past 10 years, PJP returned 7.44%/yr vs 9.37%/yr for AGNG. A 0.67 correlation means they provide meaningful diversification when combined. PJP charges 0.58%/yr vs 0.50%/yr for AGNG.

Performance

PJP vs. AGNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Pharmaceuticals ETF (PJP) and Global X Aging Population ETF (AGNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PJP achieves a 9.74% return, which is significantly higher than AGNG's -2.65% return. Over the past 10 years, PJP has underperformed AGNG with an annualized return of 7.44%, while AGNG has yielded a comparatively higher 9.37% annualized return.

PJP

• 1D: 1.74%
• 1M: 4.87%
• YTD: 9.74%
• 6M: 7.29%
• 1Y: 44.65%
• 3Y*: 15.79%
• 5Y*: 8.32%
• 10Y*: 7.44%

AGNG

• 1D: 0.89%
• 1M: -2.46%
• YTD: -2.65%
• 6M: -3.59%
• 1Y: 12.53%
• 3Y*: 8.93%
• 5Y*: 3.41%
• 10Y*: 9.37%

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

PJP vs. AGNG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PJP Invesco Dynamic Pharmaceuticals ETF	9.74%	27.98%	9.63%	-2.18%	-2.16%	14.58%	11.29%	4.64%	-1.78%	15.30%
AGNG Global X Aging Population ETF	-2.65%	20.01%	7.03%	9.65%	-8.61%	3.91%	18.96%	25.24%	-1.45%	28.17%

Correlation

The correlation between PJP and AGNG is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since May 10, 2016	0.67

The correlation between PJP and AGNG has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.

PJP vs. AGNG - Sectors Allocation Comparison

Sectors	PJP	AGNG
Healthcare	100.0%	91.2%
Financial Services	0.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	8.9%
Technology	-	-
Utilities	-	-

Return for Risk

PJP vs. AGNG — Risk / Return Rank

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

PJP

PJP Risk / Return Rank: 85
PJP Sharpe Ratio Rank: 87
PJP Sortino Ratio Rank: 88
PJP Omega Ratio Rank: 81
PJP Calmar Ratio Rank: 87
PJP Martin Ratio Rank: 81

AGNG

AGNG Risk / Return Rank: 25
AGNG Sharpe Ratio Rank: 27
AGNG Sortino Ratio Rank: 27
AGNG Omega Ratio Rank: 25
AGNG Calmar Ratio Rank: 24
AGNG Martin Ratio Rank: 22

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.

PJP vs. AGNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Pharmaceuticals ETF (PJP) and Global X Aging Population ETF (AGNG). 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.

	PJP	AGNG	Difference
Sharpe ratio: Return per unit of total volatility	2.71	0.92	+1.79
Sortino ratio: Return per unit of downside risk	3.79	1.41	+2.38
Omega ratio: Gain probability vs. loss probability	1.45	1.17	+0.28
Calmar ratio: Return relative to maximum drawdown	4.75	1.10	+3.65
Martin ratio: Return relative to average drawdown	15.06	2.68	+12.38

PJP vs. AGNG - Sharpe Ratio Comparison

The current PJP Sharpe Ratio is 2.71, which is higher than the AGNG Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of PJP and AGNG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PJP vs. AGNG - Drawdown Comparison

The maximum PJP drawdown since its inception was -37.06%, which is greater than AGNG's maximum drawdown of -30.58%. Use the drawdown chart below to compare losses from any high point for PJP and AGNG.

Drawdown Indicators

	PJP	AGNG	Difference
Max Drawdown Largest peak-to-trough decline	-37.06%	-30.58%	-6.48%
Max Drawdown (1Y) Largest decline over 1 year	-9.44%	-11.45%	+2.01%
Max Drawdown (3Y) Largest decline over 3 years	-16.27%	-14.48%	-1.79%
Max Drawdown (5Y) Largest decline over 5 years	-17.51%	-25.66%	+8.15%
Max Drawdown (10Y) Largest decline over 10 years	-33.95%	-30.58%	-3.37%
Current Drawdown Current decline from peak	0.00%	-9.10%	+9.10%
Average Drawdown Average peak-to-trough decline	-8.83%	-5.97%	-2.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	4.68%	-1.71%

Volatility

PJP vs. AGNG - Volatility Comparison

Invesco Dynamic Pharmaceuticals ETF (PJP) has a higher volatility of 5.39% compared to Global X Aging Population ETF (AGNG) at 4.39%. This indicates that PJP's price experiences larger fluctuations and is considered to be riskier than AGNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PJP	AGNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.39%	4.39%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	12.46%	10.31%	+2.15%
Volatility (1Y) Calculated over the trailing 1-year period	16.58%	13.70%	+2.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.20%	15.23%	+0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.37%	17.14%	+1.23%

PJP vs. AGNG - Expense Ratio Comparison

PJP has a 0.58% expense ratio, which is higher than AGNG's 0.50% expense ratio.

Dividends

PJP vs. AGNG - Dividend Comparison

PJP's dividend yield for the trailing twelve months is around 0.93%, more than AGNG's 0.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGNG Global X Aging Population ETF	0.90%	0.88%	0.83%	0.96%	0.49%	0.72%	0.36%	0.83%	1.00%	1.04%	0.45%	0.00%
PJP Invesco Dynamic Pharmaceuticals ETF	0.93%	0.98%	0.97%	1.01%	0.95%	0.81%	0.75%	0.77%	1.12%	0.65%	0.91%	5.49%

Frequently Asked Questions

Can I hold both PJP and AGNG in my portfolio?

PJP and AGNG 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.

Which is riskier, PJP or AGNG?

PJP has higher volatility (5.39%) compared to AGNG (4.39%). In terms of maximum drawdown, PJP dropped -37.06% vs AGNG's -30.58%.

Which ETF is better, PJP or AGNG?

On 10-year performance, AGNG leads with 9.37% vs 7.44% for PJP. On fees, AGNG is cheaper at 0.50% per year. On volatility, AGNG has been the lower-risk option at 4.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PJP or AGNG?

Over the 10-year period, AGNG has performed better with a 9.37% return vs 7.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PJP or AGNG?

AGNG is cheaper with a 0.50% expense ratio, compared with 0.58% for PJP.

Which ETF pays a higher dividend yield, PJP or AGNG?

PJP has the higher dividend yield at 0.93%, compared with 0.90% for AGNG.

What is the main difference between PJP and AGNG?

PJP tracks Dynamic Pharmaceuticals Intellidex Index, while AGNG tracks Indxx Aging Population Thematic Index. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.58% for PJP and 0.50% for AGNG.

Which has better risk-adjusted returns?

PJP currently has the higher Sharpe Ratio (2.71 vs 0.92), 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.