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PJP vs. FTXH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PJP vs. FTXH

Last updated Jun 4, 2026

PJP (Invesco Dynamic Pharmaceuticals ETF) and FTXH (First Trust Nasdaq Pharmaceuticals ETF) are both Health & Biotech Equities funds - PJP tracks the Dynamic Pharmaceuticals Intellidex Index while FTXH tracks the Nasdaq U.S. Smart Pharmaceuticals Index. Both are passively managed. Over the past 5 years, PJP returned 7.62%/yr vs 7.80%/yr for FTXH. A 0.77 correlation means they provide meaningful diversification when combined. PJP charges 0.58%/yr vs 0.60%/yr for FTXH.

Performance

PJP vs. FTXH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Pharmaceuticals ETF (PJP) and First Trust Nasdaq Pharmaceuticals ETF (FTXH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PJP achieves a 2.90% return, which is significantly lower than FTXH's 5.00% return.

PJP

1D
1.20%
1M
1.29%
YTD
2.90%
6M
2.29%
1Y
34.73%
3Y*
13.31%
5Y*
7.62%
10Y*
6.15%

FTXH

1D
1.69%
1M
1.65%
YTD
5.00%
6M
6.02%
1Y
36.24%
3Y*
11.48%
5Y*
7.80%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

PJP vs. FTXH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PJP
Invesco Dynamic Pharmaceuticals ETF		2.90%27.98%9.63%-2.18%-2.16%14.58%11.29%4.64%-1.78%15.30%
FTXH
First Trust Nasdaq Pharmaceuticals ETF		5.00%24.15%2.98%-1.41%2.55%6.14%11.73%22.13%-9.51%19.44%

Correlation

The correlation between PJP and FTXH is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.91

Correlation (3Y)
Calculated over the trailing 3-year period

0.89

Correlation (5Y)
Calculated over the trailing 5-year period

0.87

Correlation (All Time)
Calculated using the full available price history since Sep 23, 2016

0.77

The correlation between PJP and FTXH shifts across timeframes, from 0.77 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.

PJP vs. FTXH - Sectors Allocation Comparison

Sectors
PJP
FTXH

Healthcare

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Healthcare

PJP
100.0%
FTXH
100.0%

Basic Materials

PJP

-

FTXH

-

Communication Services

PJP

-

FTXH

-

Consumer Cyclical

PJP

-

FTXH

-

Consumer Defensive

PJP

-

FTXH

-

Energy

PJP

-

FTXH

-

Financial Services

PJP

-

FTXH

-

Industrials

PJP

-

FTXH

-

Real Estate

PJP

-

FTXH

-

Technology

PJP

-

FTXH

-

Utilities

PJP

-

FTXH

-

Compare stocks, funds, or ETFs

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Invesco Dynamic Pharmaceuticals ETF

First Trust Nasdaq Pharmaceuticals ETF

Often compared with PJP:
PJP vs. PPHPJP vs. IHEPJP vs. XPHPJP vs. PBEPJP vs. USAPJP vs. IHIPJP vs. IBB
Often compared with FTXH:
FTXH vs. PPHFTXH vs. BBPFTXH vs. MEDIFTXH vs. XLVFTXH vs. FXAIXFTXH vs. SPUSFTXH vs. ^GSPC

Return for Risk

PJP vs. FTXH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PJP
PJP Risk / Return Rank: 6464
Overall Rank
PJP Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
PJP Sortino Ratio Rank: 6464
Sortino Ratio Rank
PJP Omega Ratio Rank: 5757
Omega Ratio Rank
PJP Calmar Ratio Rank: 7373
Calmar Ratio Rank
PJP Martin Ratio Rank: 6363
Martin Ratio Rank
FTXH
FTXH Risk / Return Rank: 7171
Overall Rank
FTXH Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
FTXH Sortino Ratio Rank: 6969
Sortino Ratio Rank
FTXH Omega Ratio Rank: 6060
Omega Ratio Rank
FTXH Calmar Ratio Rank: 8787
Calmar Ratio Rank
FTXH Martin Ratio Rank: 7474
Martin Ratio Rank
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. FTXH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Pharmaceuticals ETF (PJP) and First Trust Nasdaq Pharmaceuticals ETF (FTXH). 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.

PJPFTXHDifference
Sharpe ratioReturn per unit of total volatility
2.13
2.14

-0.01

Sortino ratioReturn per unit of downside risk
3.01
3.16

-0.15

Omega ratioGain probability vs. loss probability

1.36

1.37

-0.01

Calmar ratioReturn relative to maximum drawdown

3.70

4.87

-1.18

Martin ratioReturn relative to average drawdown

11.55

14.07

-2.53

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PJP vs. FTXH - Sharpe Ratio Comparison

The current PJP Sharpe Ratio is 2.13, which is comparable to the FTXH Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of PJP and FTXH, 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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Sharpe Ratios by Period

PJPFTXHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.13

2.14

-0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

0.48

-0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.34

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.38

+0.21

Drawdowns

PJP vs. FTXH - Drawdown Comparison

The maximum PJP drawdown since its inception was -37.06%, which is greater than FTXH's maximum drawdown of -32.11%. Use the drawdown chart below to compare losses from any high point for PJP and FTXH.

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Drawdown Indicators

PJPFTXHDifference

Max Drawdown

Largest peak-to-trough decline

-37.06%

-32.11%

-4.95%

Max Drawdown (1Y)

Largest decline over 1 year

-9.44%

-7.47%

-1.97%

Max Drawdown (3Y)

Largest decline over 3 years

-16.27%

-19.51%

+3.24%

Max Drawdown (5Y)

Largest decline over 5 years

-17.51%

-19.51%

+2.00%

Max Drawdown (10Y)

Largest decline over 10 years

-33.95%

—

—

Current Drawdown

Current decline from peak

-2.94%

-2.88%

-0.06%

Average Drawdown

Average peak-to-trough decline

-8.85%

-5.84%

-3.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.02%

2.58%

+0.44%

Volatility

PJP vs. FTXH - Volatility Comparison

Invesco Dynamic Pharmaceuticals ETF (PJP) has a higher volatility of 5.33% compared to First Trust Nasdaq Pharmaceuticals ETF (FTXH) at 4.83%. This indicates that PJP's price experiences larger fluctuations and is considered to be riskier than FTXH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PJPFTXHDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.33%

4.83%

+0.50%

Volatility (6M)

Calculated over the trailing 6-month period

12.02%

11.73%

+0.29%

Volatility (1Y)

Calculated over the trailing 1-year period

16.38%

16.98%

-0.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.17%

16.31%

-0.14%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.39%

18.41%

-0.02%

PJP vs. FTXH - Expense Ratio Comparison

PJP has a 0.58% expense ratio, which is lower than FTXH's 0.60% expense ratio.

Dividends

PJP vs. FTXH - Dividend Comparison

PJP's dividend yield for the trailing twelve months is around 0.99%, less than FTXH's 1.22% yield.

PositionTTM20252024202320222021202020192018201720162015
FTXH
First Trust Nasdaq Pharmaceuticals ETF		1.22%1.41%1.66%1.55%1.11%1.03%0.82%0.67%0.91%2.18%0.19%0.00%
PJP
Invesco Dynamic Pharmaceuticals ETF		0.99%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

With a correlation of 0.91, PJP and FTXH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

PJP has higher volatility (5.33%) compared to FTXH (4.83%). In terms of maximum drawdown, PJP dropped -37.06% vs FTXH's -32.11%.

On 5-year performance, FTXH leads with 7.80% vs 7.62% for PJP. On fees, PJP is cheaper at 0.58% per year. On volatility, FTXH has been the lower-risk option at 4.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FTXH has performed better with a 7.80% return vs 7.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

PJP is cheaper with a 0.58% expense ratio, compared with 0.60% for FTXH.

FTXH has the higher dividend yield at 1.22%, compared with 0.99% for PJP.

PJP tracks Dynamic Pharmaceuticals Intellidex Index, while FTXH tracks Nasdaq U.S. Smart Pharmaceuticals Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.58% for PJP and 0.60% for FTXH.

FTXH currently has the higher Sharpe Ratio (2.14 vs 2.13), 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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