PJP vs. SPHQ
Compare and contrast key facts about Invesco Dynamic Pharmaceuticals ETF (PJP) and Invesco S&P 500 Quality ETF (SPHQ).
PJP and SPHQ 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. SPHQ is a passively managed fund by Invesco that tracks the performance of the S&P 500 Quality Index. It was launched on Dec 6, 2005. Both PJP and SPHQ 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. SPHQ - Performance Comparison
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PJP vs. SPHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PJP Invesco Dynamic Pharmaceuticals ETF | 0.14% | 27.98% | 9.63% | -2.18% | -2.16% | 14.58% | 11.29% | 4.64% | -1.78% | 15.30% |
SPHQ Invesco S&P 500 Quality ETF | 1.46% | 13.25% | 25.44% | 24.83% | -15.76% | 28.03% | 17.36% | 33.64% | -7.10% | 19.10% |
Returns By Period
In the year-to-date period, PJP achieves a 0.14% return, which is significantly lower than SPHQ's 1.46% return. Over the past 10 years, PJP has underperformed SPHQ with an annualized return of 6.48%, while SPHQ has yielded a comparatively higher 13.63% annualized return.
PJP
- 1D
- 0.58%
- 1M
- -3.83%
- YTD
- 0.14%
- 6M
- 10.47%
- 1Y
- 25.83%
- 3Y*
- 12.33%
- 5Y*
- 6.80%
- 10Y*
- 6.48%
SPHQ
- 1D
- 0.89%
- 1M
- -5.57%
- YTD
- 1.46%
- 6M
- 3.57%
- 1Y
- 16.02%
- 3Y*
- 18.54%
- 5Y*
- 12.70%
- 10Y*
- 13.63%
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PJP vs. SPHQ - Expense Ratio Comparison
PJP has a 0.58% expense ratio, which is higher than SPHQ's 0.15% expense ratio.
Return for Risk
PJP vs. SPHQ — Risk / Return Rank
PJP
SPHQ
PJP vs. SPHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Pharmaceuticals ETF (PJP) and Invesco S&P 500 Quality ETF (SPHQ). 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 | SPHQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.39 | 0.94 | +0.45 |
Sortino ratioReturn per unit of downside risk | 1.91 | 1.44 | +0.47 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.20 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.87 | 1.45 | +0.42 |
Martin ratioReturn relative to average drawdown | 5.68 | 6.35 | -0.67 |
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 | SPHQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.39 | 0.94 | +0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.78 | -0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.77 | -0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.50 | +0.09 |
Correlation
The correlation between PJP and SPHQ is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PJP vs. SPHQ - Dividend Comparison
PJP's dividend yield for the trailing twelve months is around 1.01%, less than SPHQ's 1.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PJP Invesco Dynamic Pharmaceuticals ETF | 1.01% | 0.98% | 0.97% | 1.01% | 0.95% | 0.81% | 0.75% | 0.77% | 1.12% | 0.65% | 0.91% | 5.49% |
SPHQ Invesco S&P 500 Quality ETF | 1.18% | 1.09% | 1.15% | 1.42% | 1.85% | 1.19% | 1.55% | 1.51% | 1.85% | 1.57% | 1.67% | 2.29% |
Drawdowns
PJP vs. SPHQ - Drawdown Comparison
The maximum PJP drawdown since its inception was -37.06%, smaller than the maximum SPHQ drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for PJP and SPHQ.
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Drawdown Indicators
| PJP | SPHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.06% | -57.83% | +20.77% |
Max Drawdown (1Y)Largest decline over 1 year | -11.68% | -10.84% | -0.84% |
Max Drawdown (5Y)Largest decline over 5 years | -17.51% | -25.04% | +7.53% |
Max Drawdown (10Y)Largest decline over 10 years | -33.95% | -31.60% | -2.35% |
Current DrawdownCurrent decline from peak | -5.28% | -5.92% | +0.64% |
Average DrawdownAverage peak-to-trough decline | -8.89% | -10.78% | +1.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.85% | 2.48% | +1.37% |
Volatility
PJP vs. SPHQ - Volatility Comparison
Invesco Dynamic Pharmaceuticals ETF (PJP) has a higher volatility of 6.41% compared to Invesco S&P 500 Quality ETF (SPHQ) at 5.32%. This indicates that PJP's price experiences larger fluctuations and is considered to be riskier than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PJP | SPHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.41% | 5.32% | +1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 11.50% | 9.67% | +1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.92% | 17.13% | +1.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.97% | 16.40% | -0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.42% | 17.81% | +0.61% |