PSCD vs. FXD

Last updated Jun 3, 2026

PSCD (Invesco S&P SmallCap Consumer Discretionary ETF) and FXD (First Trust Consumer Discretionary AlphaDEX Fund) are both Consumer Discretionary Equities funds - PSCD tracks the S&P Small Cap 600 / Consumer Discretionary -SEC while FXD tracks the StrataQuant Consumer Discretionary Index. Both are passively managed. Over the past 10 years, PSCD returned 9.86%/yr vs 7.93%/yr for FXD. Their correlation of 0.87 suggests significant overlap in exposure. PSCD charges 0.29%/yr vs 0.63%/yr for FXD.

Performance

PSCD vs. FXD - 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 Consumer Discretionary AlphaDEX Fund (FXD). 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 higher than FXD's -1.49% return. Over the past 10 years, PSCD has outperformed FXD with an annualized return of 9.86%, while FXD has yielded a comparatively lower 7.93% 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%

FXD

• 1D: -0.68%
• 1M: 0.69%
• YTD: -1.49%
• 6M: 0.09%
• 1Y: 10.66%
• 3Y*: 10.47%
• 5Y*: 3.18%
• 10Y*: 7.93%

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

PSCD vs. FXD - 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%
FXD First Trust Consumer Discretionary AlphaDEX Fund	-1.49%	6.70%	10.57%	23.39%	-21.56%	22.72%	12.97%	24.22%	-11.60%	19.77%

Correlation

The correlation between PSCD and FXD is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Apr 8, 2010	0.87

The correlation between PSCD and FXD has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

PSCD vs. FXD - Sectors Allocation Comparison

Sectors	PSCD	FXD
Consumer Cyclical	87.7%	69.7%
Consumer Defensive	7.9%	9.2%
Industrials	2.1%	9.2%
Technology	1.6%	2.5%
Real Estate	0.6%	-
Communication Services	0.2%	6.7%
Basic Materials	-	-
Energy	-	0.8%
Financial Services	-	-
Healthcare	-	-
Utilities	-	-

Return for Risk

PSCD vs. FXD — 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

FXD

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

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. FXD - 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 Consumer Discretionary AlphaDEX Fund (FXD). 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	FXD	Difference
Sharpe ratio Return per unit of total volatility	0.52	0.56	-0.04
Sortino ratio Return per unit of downside risk	0.93	0.95	-0.02
Omega ratio Gain probability vs. loss probability	1.11	1.10	0.00
Calmar ratio Return relative to maximum drawdown	0.71	0.73	-0.02
Martin ratio Return relative to average drawdown	1.77	1.85	-0.09
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. FXD - Sharpe Ratio Comparison

The current PSCD Sharpe Ratio is 0.52, which is comparable to the FXD Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of PSCD and FXD, 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	FXD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.52	0.56	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	0.14	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.34	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.31	+0.08

Drawdowns

PSCD vs. FXD - Drawdown Comparison

The maximum PSCD drawdown since its inception was -56.57%, smaller than the maximum FXD drawdown of -65.27%. Use the drawdown chart below to compare losses from any high point for PSCD and FXD.

Drawdown Indicators

	PSCD	FXD	Difference
Max Drawdown Largest peak-to-trough decline	-56.57%	-65.27%	+8.70%
Max Drawdown (1Y) Largest decline over 1 year	-17.14%	-13.94%	-3.20%
Max Drawdown (3Y) Largest decline over 3 years	-31.93%	-26.02%	-5.91%
Max Drawdown (5Y) Largest decline over 5 years	-41.88%	-33.74%	-8.14%
Max Drawdown (10Y) Largest decline over 10 years	-56.57%	-49.54%	-7.03%
Current Drawdown Current decline from peak	-7.35%	-6.76%	-0.59%
Average Drawdown Average peak-to-trough decline	-11.33%	-10.97%	-0.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.89%	5.46%	+1.43%

Volatility

PSCD vs. FXD - Volatility Comparison

Invesco S&P SmallCap Consumer Discretionary ETF (PSCD) has a higher volatility of 8.44% compared to First Trust Consumer Discretionary AlphaDEX Fund (FXD) at 6.52%. This indicates that PSCD's price experiences larger fluctuations and is considered to be riskier than FXD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSCD	FXD	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.44%	6.52%	+1.92%
Volatility (6M) Calculated over the trailing 6-month period	16.30%	14.22%	+2.08%
Volatility (1Y) Calculated over the trailing 1-year period	24.18%	19.22%	+4.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.94%	22.70%	+5.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.07%	23.68%	+5.39%

PSCD vs. FXD - Expense Ratio Comparison

PSCD has a 0.29% expense ratio, which is lower than FXD's 0.63% expense ratio.

Dividends

PSCD vs. FXD - Dividend Comparison

PSCD's dividend yield for the trailing twelve months is around 0.91%, more than FXD's 0.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXD First Trust Consumer Discretionary AlphaDEX Fund	0.78%	0.80%	0.89%	0.70%	1.00%	0.62%	0.42%	0.92%	1.08%	0.93%	1.05%	0.90%
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 FXD in my portfolio?

With a correlation of 0.92, PSCD and FXD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PSCD or FXD?

PSCD has higher volatility (8.44%) compared to FXD (6.52%). In terms of maximum drawdown, PSCD dropped -56.57% vs FXD's -65.27%.

Which ETF is better, PSCD or FXD?

On 10-year performance, PSCD leads with 9.86% vs 7.93% for FXD. On fees, PSCD is cheaper at 0.29% per year. On volatility, FXD has been the lower-risk option at 6.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSCD or FXD?

Over the 10-year period, PSCD has performed better with a 9.86% return vs 7.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSCD or FXD?

PSCD is cheaper with a 0.29% expense ratio, compared with 0.63% for FXD.

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

PSCD has the higher dividend yield at 0.91%, compared with 0.78% for FXD.

What is the main difference between PSCD and FXD?

PSCD tracks S&P Small Cap 600 / Consumer Discretionary -SEC, while FXD tracks StrataQuant Consumer Discretionary Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.29% for PSCD and 0.63% for FXD.

Which has better risk-adjusted returns?

FXD currently has the higher Sharpe Ratio (0.56 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.