PJP vs. COMT
PJP (Invesco Dynamic Pharmaceuticals ETF) and COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) are both exchange-traded funds - PJP is a Health & Biotech Equities fund tracking the Dynamic Pharmaceuticals Intellidex Index, while COMT is a Commodities fund tracking the S&P GSCI Dynamic Roll (USD) Total Return Index. Both are passively managed. Over the past 10 years, PJP returned 7.10%/yr vs 8.33%/yr for COMT. At a 0.14 correlation, their price movements are largely independent. PJP charges 0.58%/yr vs 0.48%/yr for COMT.
Performance
PJP vs. COMT - Performance Comparison
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Returns By Period
In the year-to-date period, PJP achieves a 14.82% return, which is significantly lower than COMT's 30.19% return. Over the past 10 years, PJP has underperformed COMT with an annualized return of 7.10%, while COMT has yielded a comparatively higher 8.33% annualized return.
PJP
- 1D
- 1.96%
- 1M
- 6.00%
- 6M
- 14.57%
- YTD
- 14.82%
- 1Y
- 44.94%
- 3Y*
- 17.90%
- 5Y*
- 9.79%
- 10Y*
- 7.10%
COMT
- 1D
- -0.49%
- 1M
- 2.53%
- 6M
- 26.18%
- YTD
- 30.19%
- 1Y
- 33.20%
- 3Y*
- 12.71%
- 5Y*
- 11.75%
- 10Y*
- 8.33%
PJP vs. COMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PJP Invesco Dynamic Pharmaceuticals ETF | 14.82% | 27.98% | 9.63% | -2.18% | -2.16% | 14.58% | 11.29% | 4.64% | -1.78% | 15.30% |
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 30.19% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
Correlation
The correlation between PJP and COMT is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2014 | 0.14 |
The correlation between PJP and COMT shifts across timeframes, from -0.23 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PJP vs. COMT — Risk / Return Rank
PJP
COMT
PJP vs. COMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Pharmaceuticals ETF (PJP) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT). 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 | COMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.27 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 4.78 | 1.90 | +2.89 |
| Martin ratioReturn relative to average drawdown | 14.95 | 6.35 | +8.61 |
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Drawdowns
PJP vs. COMT - Drawdown Comparison
The maximum PJP drawdown since its inception was -37.06%, smaller than the maximum COMT drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for PJP and COMT.
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Drawdown Indicators
| PJP | COMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.06% | -51.89% | +14.83% |
Max Drawdown (1Y)Largest decline over 1 year | -9.44% | -17.57% | +8.13% |
Max Drawdown (3Y)Largest decline over 3 years | -16.27% | -17.57% | +1.30% |
Max Drawdown (5Y)Largest decline over 5 years | -17.51% | -29.00% | +11.49% |
Max Drawdown (10Y)Largest decline over 10 years | -33.95% | -39.22% | +5.27% |
Current DrawdownCurrent decline from peak | -2.35% | -11.28% | +8.93% |
Average DrawdownAverage peak-to-trough decline | -8.81% | -23.95% | +15.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 5.24% | -2.23% |
Volatility
PJP vs. COMT - Volatility Comparison
Invesco Dynamic Pharmaceuticals ETF (PJP) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) have volatilities of 5.92% and 5.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PJP | COMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.92% | 5.91% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 13.12% | 19.67% | -6.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.99% | 21.54% | -4.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.35% | 21.20% | -4.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.38% | 18.85% | -0.47% |
PJP vs. COMT - Expense Ratio Comparison
PJP has a 0.58% expense ratio, which is higher than COMT's 0.48% expense ratio.
Dividends
PJP vs. COMT - Dividend Comparison
PJP's dividend yield for the trailing twelve months is around 0.89%, less than COMT's 5.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 5.95% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
PJP Invesco Dynamic Pharmaceuticals ETF | 0.89% | 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
PJP and COMT have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PJP has higher volatility (5.92%) compared to COMT (5.91%). In terms of maximum drawdown, PJP dropped -37.06% vs COMT's -51.89%.
On 10-year performance, COMT leads with 8.33% vs 7.10% for PJP. On fees, COMT is cheaper at 0.48% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, COMT has performed better with a 8.33% return vs 7.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMT is cheaper with a 0.48% expense ratio, compared with 0.58% for PJP.
COMT has the higher dividend yield at 5.95%, compared with 0.89% for PJP.
PJP is categorized as Health & Biotech Equities, while COMT is Commodities. PJP tracks Dynamic Pharmaceuticals Intellidex Index, while COMT tracks S&P GSCI Dynamic Roll (USD) Total Return Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.58% for PJP and 0.48% for COMT.
PJP currently has the higher Sharpe Ratio (2.67 vs 1.55), 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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