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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PJP or IHE.
Key characteristics
| PJP | IHE | |
|---|---|---|
| YTD Return | 15.50% | 15.37% |
| 1Y Return | 28.19% | 27.73% |
| 3Y Return (Ann) | 4.35% | 5.75% |
| 5Y Return (Ann) | 8.92% | 9.46% |
| 10Y Return (Ann) | 4.06% | 5.32% |
| Sharpe Ratio | 2.34 | 2.33 |
| Sortino Ratio | 3.12 | 3.22 |
| Omega Ratio | 1.39 | 1.42 |
| Calmar Ratio | 1.74 | 1.95 |
| Martin Ratio | 14.58 | 8.81 |
| Ulcer Index | 2.04% | 3.25% |
| Daily Std Dev | 12.73% | 12.28% |
| Max Drawdown | -37.06% | -38.20% |
| Current Drawdown | -2.07% | -2.98% |
Correlation
The correlation between PJP and IHE is 0.90, 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.
Performance
PJP vs. IHE - Performance Comparison
The year-to-date returns for both stocks are quite close, with PJP having a 15.50% return and IHE slightly lower at 15.37%. Over the past 10 years, PJP has underperformed IHE with an annualized return of 4.06%, while IHE has yielded a comparatively higher 5.32% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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.
Risk-Adjusted Performance
PJP vs. IHE - Risk-Adjusted Performance 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.
Dividends
PJP vs. IHE - Dividend Comparison
PJP's dividend yield for the trailing twelve months is around 0.88%, less than IHE's 1.51% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PJP Invesco Dynamic Pharmaceuticals ETF | 0.88% | 1.01% | 0.95% | 0.81% | 0.75% | 0.77% | 1.12% | 0.65% | 0.91% | 5.49% | 2.96% | 0.44% |
IHE iShares U.S. Pharmaceuticals ETF | 1.51% | 1.39% | 2.01% | 1.49% | 1.19% | 1.40% | 1.25% | 1.36% | 0.92% | 1.93% | 1.20% | 1.06% |
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. For additional features, visit the drawdowns tool.
Volatility
PJP vs. IHE - Volatility Comparison
Invesco Dynamic Pharmaceuticals ETF (PJP) has a higher volatility of 3.30% compared to iShares U.S. Pharmaceuticals ETF (IHE) at 2.96%. 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.