PJP vs. IHE
Compare and contrast key facts about Invesco Dynamic Pharmaceuticals ETF (PJP) and iShares U.S. Pharmaceuticals ETF (IHE).
PJP and IHE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PJP is a passively managed fund by Invesco that tracks the performance of the Dynamic Pharmaceuticals Intellidex Index. It was launched on Jun 23, 2005. IHE is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Pharmaceuticals Index. It was launched on May 5, 2006. Both PJP and IHE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PJP vs. IHE - Performance Comparison
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PJP vs. IHE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PJP Invesco Dynamic Pharmaceuticals ETF | -0.44% | 27.98% | 9.63% | -2.18% | -2.16% | 14.58% | 11.29% | 4.64% | -1.78% | 15.30% |
IHE iShares U.S. Pharmaceuticals ETF | 2.52% | 31.69% | 8.13% | 1.06% | -4.87% | 13.07% | 13.66% | 15.47% | -7.76% | 10.64% |
Returns By Period
In the year-to-date period, PJP achieves a -0.44% return, which is significantly lower than IHE's 2.52% return. Over the past 10 years, PJP has underperformed IHE with an annualized return of 6.42%, while IHE has yielded a comparatively higher 8.08% annualized return.
PJP
- 1D
- 3.04%
- 1M
- -3.96%
- YTD
- -0.44%
- 6M
- 12.79%
- 1Y
- 21.16%
- 3Y*
- 12.12%
- 5Y*
- 6.67%
- 10Y*
- 6.42%
IHE
- 1D
- 2.95%
- 1M
- -5.31%
- YTD
- 2.52%
- 6M
- 20.67%
- 1Y
- 25.22%
- 3Y*
- 15.99%
- 5Y*
- 9.92%
- 10Y*
- 8.08%
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PJP vs. IHE - Expense Ratio Comparison
PJP has a 0.58% expense ratio, which is higher than IHE's 0.42% expense ratio.
Return for Risk
PJP vs. IHE — Risk / Return Rank
PJP
IHE
PJP vs. IHE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Pharmaceuticals ETF (PJP) and iShares U.S. Pharmaceuticals ETF (IHE). 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.
| PJP | IHE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.12 | 1.23 | -0.10 |
Sortino ratioReturn per unit of downside risk | 1.58 | 1.73 | -0.15 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.23 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.77 | 2.13 | -0.36 |
Martin ratioReturn relative to average drawdown | 5.03 | 6.10 | -1.07 |
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
| PJP | IHE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.12 | 1.23 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | 0.63 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.45 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.50 | +0.09 |
Correlation
The correlation between PJP and IHE is 0.89, 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
PJP vs. IHE - Dividend Comparison
PJP's dividend yield for the trailing twelve months is around 1.02%, less than IHE's 1.72% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PJP Invesco Dynamic Pharmaceuticals ETF | 1.02% | 0.98% | 0.97% | 1.01% | 0.95% | 0.81% | 0.75% | 0.77% | 1.12% | 0.65% | 0.91% | 5.49% |
IHE iShares U.S. Pharmaceuticals ETF | 1.72% | 1.76% | 1.73% | 1.39% | 2.01% | 1.49% | 1.19% | 1.40% | 1.25% | 1.36% | 0.92% | 1.93% |
Drawdowns
PJP vs. IHE - Drawdown Comparison
The maximum PJP drawdown since its inception was -37.06%, roughly equal to the maximum IHE drawdown of -38.20%. Use the drawdown chart below to compare losses from any high point for PJP and IHE.
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Drawdown Indicators
| PJP | IHE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.06% | -38.20% | +1.14% |
Max Drawdown (1Y)Largest decline over 1 year | -11.68% | -10.58% | -1.10% |
Max Drawdown (5Y)Largest decline over 5 years | -17.51% | -16.03% | -1.48% |
Max Drawdown (10Y)Largest decline over 10 years | -33.95% | -29.59% | -4.36% |
Current DrawdownCurrent decline from peak | -5.83% | -5.31% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -8.90% | -7.95% | -0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.88% | 4.73% | +0.15% |
Volatility
PJP vs. IHE - Volatility Comparison
Invesco Dynamic Pharmaceuticals ETF (PJP) has a higher volatility of 6.62% compared to iShares U.S. Pharmaceuticals ETF (IHE) at 5.99%. This indicates that PJP's price experiences larger fluctuations and is considered to be riskier than IHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PJP | IHE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.62% | 5.99% | +0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 11.57% | 12.34% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.11% | 20.86% | -1.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.97% | 15.95% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.42% | 18.11% | +0.31% |