PKB vs. GRID

Last updated Jun 4, 2026

PKB (Invesco Dynamic Building & Construction ETF) and GRID (First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index) are both exchange-traded funds - PKB is a Building & Construction fund tracking the Dynamic Building & Construction Intellidex Index, while GRID is a Alternative Energy Equities fund tracking the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index. Both are passively managed. Over the past 10 years, PKB returned 15.37%/yr vs 19.76%/yr for GRID. A 0.68 correlation means they provide meaningful diversification when combined. PKB charges 0.60%/yr vs 0.70%/yr for GRID.

Performance

PKB vs. GRID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Building & Construction ETF (PKB) and First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (GRID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PKB achieves a 13.11% return, which is significantly lower than GRID's 28.91% return. Over the past 10 years, PKB has underperformed GRID with an annualized return of 15.37%, while GRID has yielded a comparatively higher 19.76% annualized return.

PKB

• 1D: 0.48%
• 1M: -2.15%
• YTD: 13.11%
• 6M: 10.44%
• 1Y: 34.15%
• 3Y*: 29.75%
• 5Y*: 15.65%
• 10Y*: 15.37%

GRID

• 1D: -0.17%
• 1M: 3.85%
• YTD: 28.91%
• 6M: 29.60%
• 1Y: 51.55%
• 3Y*: 26.27%
• 5Y*: 17.84%
• 10Y*: 19.76%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PKB vs. GRID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PKB Invesco Dynamic Building & Construction ETF	13.11%	22.47%	20.24%	55.29%	-24.88%	32.96%	24.49%	40.15%	-31.11%	24.67%
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index	28.91%	29.65%	15.18%	21.57%	-13.89%	27.65%	48.84%	42.80%	-22.69%	27.44%

Correlation

The correlation between PKB and GRID is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Nov 18, 2009	0.68

The correlation between PKB and GRID has been stable across timeframes, ranging from 0.68 to 0.78 - a consistent structural relationship.

PKB vs. GRID - Sectors Allocation Comparison

Sectors	PKB	GRID
Industrials	47.2%	65.2%
Basic Materials	29.0%	0.0%
Consumer Cyclical	20.8%	3.5%
Utilities	3.0%	20.4%
Financial Services	0.1%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	11.0%

Return for Risk

PKB vs. GRID — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PKB

PKB Risk / Return Rank: 42
PKB Sharpe Ratio Rank: 42
PKB Sortino Ratio Rank: 43
PKB Omega Ratio Rank: 38
PKB Calmar Ratio Rank: 45
PKB Martin Ratio Rank: 44

GRID

GRID Risk / Return Rank: 79
GRID Sharpe Ratio Rank: 81
GRID Sortino Ratio Rank: 76
GRID Omega Ratio Rank: 74
GRID Calmar Ratio Rank: 82
GRID Martin Ratio Rank: 82

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.

PKB vs. GRID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Building & Construction ETF (PKB) and First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (GRID). 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.

	PKB	GRID	Difference
Sharpe ratio: Return per unit of total volatility	1.49	2.67	-1.18
Sortino ratio: Return per unit of downside risk	2.19	3.50	-1.30
Omega ratio: Gain probability vs. loss probability	1.25	1.45	-0.20
Calmar ratio: Return relative to maximum drawdown	2.23	4.42	-2.19
Martin ratio: Return relative to average drawdown	7.21	16.72	-9.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PKB vs. GRID - Sharpe Ratio Comparison

The current PKB Sharpe Ratio is 1.49, which is lower than the GRID Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of PKB and GRID, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PKB	GRID	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	2.67	-1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.85	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.87	-0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.57	-0.20

Drawdowns

PKB vs. GRID - Drawdown Comparison

The maximum PKB drawdown since its inception was -65.21%, which is greater than GRID's maximum drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for PKB and GRID.

Drawdown Indicators

	PKB	GRID	Difference
Max Drawdown Largest peak-to-trough decline	-65.21%	-40.56%	-24.65%
Max Drawdown (1Y) Largest decline over 1 year	-15.41%	-11.73%	-3.68%
Max Drawdown (3Y) Largest decline over 3 years	-29.75%	-20.77%	-8.98%
Max Drawdown (5Y) Largest decline over 5 years	-34.85%	-29.64%	-5.21%
Max Drawdown (10Y) Largest decline over 10 years	-52.29%	-40.56%	-11.73%
Current Drawdown Current decline from peak	-5.33%	-1.33%	-4.00%
Average Drawdown Average peak-to-trough decline	-15.77%	-8.43%	-7.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.75%	3.09%	+1.66%

Volatility

PKB vs. GRID - Volatility Comparison

Invesco Dynamic Building & Construction ETF (PKB) and First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (GRID) have volatilities of 7.61% and 7.95%, 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.

Volatility by Period

	PKB	GRID	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.61%	7.95%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	17.84%	16.08%	+1.76%
Volatility (1Y) Calculated over the trailing 1-year period	23.04%	19.39%	+3.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.69%	21.00%	+4.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.24%	22.81%	+4.43%

PKB vs. GRID - Expense Ratio Comparison

PKB has a 0.60% expense ratio, which is lower than GRID's 0.70% expense ratio.

Dividends

PKB vs. GRID - Dividend Comparison

PKB's dividend yield for the trailing twelve months is around 0.14%, less than GRID's 0.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index	0.77%	1.01%	1.06%	1.23%	1.26%	0.63%	0.68%	1.26%	1.28%	1.07%	1.07%	1.23%
PKB Invesco Dynamic Building & Construction ETF	0.14%	0.14%	0.23%	0.33%	0.43%	0.25%	0.30%	0.37%	0.54%	0.17%	0.31%	0.11%

Frequently Asked Questions

Can I hold both PKB and GRID in my portfolio?

PKB and GRID have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PKB or GRID?

GRID has higher volatility (7.95%) compared to PKB (7.61%). In terms of maximum drawdown, PKB dropped -65.21% vs GRID's -40.56%.

Which ETF is better, PKB or GRID?

On 10-year performance, GRID leads with 19.76% vs 15.37% for PKB. On fees, PKB is cheaper at 0.60% per year. On volatility, PKB has been the lower-risk option at 7.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PKB or GRID?

Over the 10-year period, GRID has performed better with a 19.76% return vs 15.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PKB or GRID?

PKB is cheaper with a 0.60% expense ratio, compared with 0.70% for GRID.

Which ETF pays a higher dividend yield, PKB or GRID?

GRID has the higher dividend yield at 0.77%, compared with 0.14% for PKB.

What is the main difference between PKB and GRID?

PKB is categorized as Building & Construction, while GRID is Alternative Energy Equities. PKB tracks Dynamic Building & Construction Intellidex Index, while GRID tracks NASDAQ OMX Clean Edge Smart Grid Infrastructure Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.60% for PKB and 0.70% for GRID.

Which has better risk-adjusted returns?

GRID currently has the higher Sharpe Ratio (2.67 vs 1.49), 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.