PSCF vs. GPZ

Last updated Jun 24, 2026

PSCF (Invesco S&P SmallCap Financials ETF) and GPZ (VanEck Alternative Asset Manager ETF) are both Financials Equities funds - PSCF tracks the S&P SmallCap 600 Financials Index while GPZ tracks the MarketVector Alternative Asset Managers Index. Both are passively managed. Over the past year, PSCF returned 22.91% vs -11.53% for GPZ. A 0.68 correlation means they provide meaningful diversification when combined. PSCF charges 0.29%/yr vs 0.40%/yr for GPZ.

Performance

PSCF vs. GPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Financials ETF (PSCF) and VanEck Alternative Asset Manager ETF (GPZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSCF achieves a 12.95% return, which is significantly higher than GPZ's -19.30% return.

PSCF

• 1D: 1.30%
• 1M: 4.77%
• YTD: 12.95%
• 6M: 11.09%
• 1Y: 22.91%
• 3Y*: 19.88%
• 5Y*: 4.52%
• 10Y*: 7.98%

GPZ

• 1D: -2.58%
• 1M: -5.07%
• YTD: -19.30%
• 6M: -20.44%
• 1Y: -11.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSCF vs. GPZ - Yearly Performance Comparison

	2026 (YTD)	2025
PSCF Invesco S&P SmallCap Financials ETF	12.95%	12.17%
GPZ VanEck Alternative Asset Manager ETF	-19.30%	9.24%

Correlation

The correlation between PSCF and GPZ is 0.67, 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	0.67
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.68

The correlation between PSCF and GPZ has been stable across timeframes, ranging from 0.67 to 0.68 - a consistent structural relationship.

PSCF vs. GPZ - Sectors Allocation Comparison

Sectors	PSCF	GPZ
Financial Services	67.3%	100.0%
Real Estate	28.8%	2.3%
Technology	3.5%	-
Industrials	0.4%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Utilities	-	-

Return for Risk

PSCF vs. GPZ — Risk / Return Rank

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

PSCF

PSCF Risk / Return Rank: 42
PSCF Sharpe Ratio Rank: 40
PSCF Sortino Ratio Rank: 40
PSCF Omega Ratio Rank: 38
PSCF Calmar Ratio Rank: 50
PSCF Martin Ratio Rank: 41

GPZ

GPZ Risk / Return Rank: 6
GPZ Sharpe Ratio Rank: 5
GPZ Sortino Ratio Rank: 6
GPZ Omega Ratio Rank: 5
GPZ Calmar Ratio Rank: 6
GPZ Martin Ratio Rank: 6

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.

PSCF vs. GPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Financials ETF (PSCF) and VanEck Alternative Asset Manager ETF (GPZ). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PSCF	GPZ	Difference
Sharpe ratio: Return per unit of total volatility	1.32	-0.42	+1.74
Sortino ratio: Return per unit of downside risk	1.94	-0.41	+2.35
Omega ratio: Gain probability vs. loss probability	1.24	0.95	+0.29
Calmar ratio: Return relative to maximum drawdown	2.32	-0.36	+2.69
Martin ratio: Return relative to average drawdown	6.18	-0.73	+6.91

PSCF vs. GPZ - Sharpe Ratio Comparison

The current PSCF Sharpe Ratio is 1.32, which is higher than the GPZ Sharpe Ratio of -0.42. The chart below compares the historical Sharpe Ratios of PSCF and GPZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PSCF vs. GPZ - Drawdown Comparison

The maximum PSCF drawdown since its inception was -45.46%, which is greater than GPZ's maximum drawdown of -31.72%. Use the drawdown chart below to compare losses from any high point for PSCF and GPZ.

Drawdown Indicators

	PSCF	GPZ	Difference
Max Drawdown Largest peak-to-trough decline	-45.46%	-31.72%	-13.74%
Max Drawdown (1Y) Largest decline over 1 year	-9.91%	-31.72%	+21.81%
Max Drawdown (3Y) Largest decline over 3 years	-24.34%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-36.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.46%	—	—
Current Drawdown Current decline from peak	0.00%	-25.87%	+25.87%
Average Drawdown Average peak-to-trough decline	-8.57%	-12.27%	+3.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.71%	15.80%	-12.09%

Volatility

PSCF vs. GPZ - Volatility Comparison

The current volatility for Invesco S&P SmallCap Financials ETF (PSCF) is 4.70%, while VanEck Alternative Asset Manager ETF (GPZ) has a volatility of 9.25%. This indicates that PSCF experiences smaller price fluctuations and is considered to be less risky than GPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSCF	GPZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	9.25%	-4.55%
Volatility (6M) Calculated over the trailing 6-month period	11.99%	22.33%	-10.34%
Volatility (1Y) Calculated over the trailing 1-year period	17.54%	27.85%	-10.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.42%	27.60%	-5.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.77%	27.60%	-2.83%

PSCF vs. GPZ - Expense Ratio Comparison

PSCF has a 0.29% expense ratio, which is lower than GPZ's 0.40% expense ratio.

Dividends

PSCF vs. GPZ - Dividend Comparison

PSCF's dividend yield for the trailing twelve months is around 2.22%, more than GPZ's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPZ VanEck Alternative Asset Manager ETF	1.03%	0.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSCF Invesco S&P SmallCap Financials ETF	2.22%	2.09%	2.48%	3.32%	2.93%	1.83%	3.57%	4.27%	4.21%	2.26%	3.01%	2.37%

Frequently Asked Questions

Can I hold both PSCF and GPZ in my portfolio?

PSCF and GPZ have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSCF or GPZ?

GPZ has higher volatility (9.25%) compared to PSCF (4.70%). In terms of maximum drawdown, PSCF dropped -45.46% vs GPZ's -31.72%.

Which ETF is better, PSCF or GPZ?

On 1-year performance, PSCF leads with 22.91% vs -11.53% for GPZ. On fees, PSCF is cheaper at 0.29% per year. On volatility, PSCF has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSCF or GPZ?

Over the 1-year period, PSCF has performed better with a 22.91% return vs -11.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSCF or GPZ?

PSCF is cheaper with a 0.29% expense ratio, compared with 0.40% for GPZ.

Which ETF pays a higher dividend yield, PSCF or GPZ?

PSCF has the higher dividend yield at 2.22%, compared with 1.03% for GPZ.

What is the main difference between PSCF and GPZ?

PSCF tracks S&P SmallCap 600 Financials Index, while GPZ tracks MarketVector Alternative Asset Managers Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.29% for PSCF and 0.40% for GPZ.

Which has better risk-adjusted returns?

PSCF currently has the higher Sharpe Ratio (1.32 vs -0.42), 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.