PSCD vs. CARZ

Last updated Jun 3, 2026

PSCD (Invesco S&P SmallCap Consumer Discretionary ETF) and CARZ (First Trust NASDAQ Global Auto Index Fund) are both Consumer Discretionary Equities funds - PSCD tracks the S&P Small Cap 600 / Consumer Discretionary -SEC while CARZ tracks the NASDAQ OMX Global Automobile (TR). Both are passively managed. Over the past 10 years, PSCD returned 9.86%/yr vs 16.49%/yr for CARZ. A 0.57 correlation means they provide meaningful diversification when combined. PSCD charges 0.29%/yr vs 0.70%/yr for CARZ.

Performance

PSCD vs. CARZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Consumer Discretionary ETF (PSCD) and First Trust NASDAQ Global Auto Index Fund (CARZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSCD achieves a 4.67% return, which is significantly lower than CARZ's 57.52% return. Over the past 10 years, PSCD has underperformed CARZ with an annualized return of 9.86%, while CARZ has yielded a comparatively higher 16.49% annualized return.

PSCD

• 1D: 0.83%
• 1M: 0.77%
• YTD: 4.67%
• 6M: 3.99%
• 1Y: 12.57%
• 3Y*: 9.09%
• 5Y*: -0.63%
• 10Y*: 9.86%

CARZ

• 1D: -0.37%
• 1M: 19.08%
• YTD: 57.52%
• 6M: 60.74%
• 1Y: 116.25%
• 3Y*: 34.19%
• 5Y*: 16.32%
• 10Y*: 16.49%

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

PSCD vs. CARZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSCD Invesco S&P SmallCap Consumer Discretionary ETF	4.67%	-2.87%	6.46%	33.23%	-28.06%	37.34%	29.07%	17.49%	-9.28%	18.16%
CARZ First Trust NASDAQ Global Auto Index Fund	57.52%	37.18%	3.26%	42.47%	-31.25%	18.09%	54.66%	11.39%	-23.91%	25.47%

Correlation

The correlation between PSCD and CARZ is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since May 11, 2011	0.57

The correlation between PSCD and CARZ has been stable across timeframes, ranging from 0.52 to 0.62 - a consistent structural relationship.

PSCD vs. CARZ - Sectors Allocation Comparison

Sectors	PSCD	CARZ
Consumer Cyclical	87.7%	19.5%
Consumer Defensive	7.9%	-
Industrials	2.1%	8.1%
Technology	1.6%	60.6%
Real Estate	0.6%	-
Communication Services	0.2%	5.1%
Basic Materials	-	6.6%
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Utilities	-	-

Return for Risk

PSCD vs. CARZ — Risk / Return Rank

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

PSCD

PSCD Risk / Return Rank: 17
PSCD Sharpe Ratio Rank: 17
PSCD Sortino Ratio Rank: 18
PSCD Omega Ratio Rank: 17
PSCD Calmar Ratio Rank: 18
PSCD Martin Ratio Rank: 17

CARZ

CARZ Risk / Return Rank: 95
CARZ Sharpe Ratio Rank: 97
CARZ Sortino Ratio Rank: 95
CARZ Omega Ratio Rank: 94
CARZ Calmar Ratio Rank: 95
CARZ Martin Ratio Rank: 95

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.

PSCD vs. CARZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Consumer Discretionary ETF (PSCD) and First Trust NASDAQ Global Auto Index Fund (CARZ). 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.

	PSCD	CARZ	Difference
Sharpe ratio Return per unit of total volatility	0.52	4.53	-4.01
Sortino ratio Return per unit of downside risk	0.93	5.19	-4.26
Omega ratio Gain probability vs. loss probability	1.11	1.70	-0.59
Calmar ratio Return relative to maximum drawdown	0.71	8.10	-7.39
Martin ratio Return relative to average drawdown	1.77	32.71	-30.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSCD vs. CARZ - Sharpe Ratio Comparison

The current PSCD Sharpe Ratio is 0.52, which is lower than the CARZ Sharpe Ratio of 4.53. The chart below compares the historical Sharpe Ratios of PSCD and CARZ, 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

	PSCD	CARZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.52	4.53	-4.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	0.58	-0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.63	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.46	-0.06

Drawdowns

PSCD vs. CARZ - Drawdown Comparison

The maximum PSCD drawdown since its inception was -56.57%, which is greater than CARZ's maximum drawdown of -51.20%. Use the drawdown chart below to compare losses from any high point for PSCD and CARZ.

Drawdown Indicators

	PSCD	CARZ	Difference
Max Drawdown Largest peak-to-trough decline	-56.57%	-51.20%	-5.37%
Max Drawdown (1Y) Largest decline over 1 year	-17.14%	-14.44%	-2.70%
Max Drawdown (3Y) Largest decline over 3 years	-31.93%	-27.84%	-4.09%
Max Drawdown (5Y) Largest decline over 5 years	-41.88%	-40.30%	-1.58%
Max Drawdown (10Y) Largest decline over 10 years	-56.57%	-51.20%	-5.37%
Current Drawdown Current decline from peak	-7.35%	-0.37%	-6.98%
Average Drawdown Average peak-to-trough decline	-11.33%	-12.90%	+1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.89%	3.57%	+3.32%

Volatility

PSCD vs. CARZ - Volatility Comparison

The current volatility for Invesco S&P SmallCap Consumer Discretionary ETF (PSCD) is 8.44%, while First Trust NASDAQ Global Auto Index Fund (CARZ) has a volatility of 10.14%. This indicates that PSCD experiences smaller price fluctuations and is considered to be less risky than CARZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSCD	CARZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.44%	10.14%	-1.70%
Volatility (6M) Calculated over the trailing 6-month period	16.30%	20.31%	-4.01%
Volatility (1Y) Calculated over the trailing 1-year period	24.18%	25.79%	-1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.94%	28.11%	-0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.07%	26.27%	+2.80%

PSCD vs. CARZ - Expense Ratio Comparison

PSCD has a 0.29% expense ratio, which is lower than CARZ's 0.70% expense ratio.

Dividends

PSCD vs. CARZ - Dividend Comparison

PSCD's dividend yield for the trailing twelve months is around 0.91%, less than CARZ's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CARZ First Trust NASDAQ Global Auto Index Fund	1.35%	2.13%	1.17%	1.40%	1.59%	2.25%	0.63%	3.23%	2.85%	2.11%	2.47%	1.64%
PSCD Invesco S&P SmallCap Consumer Discretionary ETF	0.91%	0.94%	1.28%	1.09%	1.60%	0.57%	0.56%	0.91%	1.39%	0.97%	1.07%	1.10%

Frequently Asked Questions

Can I hold both PSCD and CARZ in my portfolio?

PSCD and CARZ have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSCD or CARZ?

CARZ has higher volatility (10.14%) compared to PSCD (8.44%). In terms of maximum drawdown, PSCD dropped -56.57% vs CARZ's -51.20%.

Which ETF is better, PSCD or CARZ?

On 10-year performance, CARZ leads with 16.49% vs 9.86% for PSCD. On fees, PSCD is cheaper at 0.29% per year. On volatility, PSCD has been the lower-risk option at 8.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSCD or CARZ?

Over the 10-year period, CARZ has performed better with a 16.49% return vs 9.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSCD or CARZ?

PSCD is cheaper with a 0.29% expense ratio, compared with 0.70% for CARZ.

Which ETF pays a higher dividend yield, PSCD or CARZ?

CARZ has the higher dividend yield at 1.35%, compared with 0.91% for PSCD.

What is the main difference between PSCD and CARZ?

PSCD tracks S&P Small Cap 600 / Consumer Discretionary -SEC, while CARZ tracks NASDAQ OMX Global Automobile (TR). They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.29% for PSCD and 0.70% for CARZ.

Which has better risk-adjusted returns?

CARZ currently has the higher Sharpe Ratio (4.53 vs 0.52), 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.