PSCM vs. AIRR
Compare and contrast key facts about Invesco S&P SmallCap Materials ETF (PSCM) and First Trust RBA American Industrial Renaissance ETF (AIRR).
PSCM and AIRR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PSCM is a passively managed fund by Invesco that tracks the performance of the S&P Small Cap 600 / Materials -SEC. It was launched on Apr 7, 2010. AIRR is a passively managed fund by First Trust that tracks the performance of the Richard Bernstein Advisors American Industrial Renaissance (TR). It was launched on Mar 10, 2014. Both PSCM and AIRR are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PSCM or AIRR.
Key characteristics
| PSCM | AIRR | |
|---|---|---|
| YTD Return | 14.01% | 46.22% |
| 1Y Return | 37.83% | 77.25% |
| 3Y Return (Ann) | 7.54% | 21.69% |
| 5Y Return (Ann) | 13.39% | 24.23% |
| 10Y Return (Ann) | 8.15% | 16.38% |
| Sharpe Ratio | 1.59 | 3.10 |
| Sortino Ratio | 2.31 | 3.94 |
| Omega Ratio | 1.29 | 1.50 |
| Calmar Ratio | 2.29 | 5.43 |
| Martin Ratio | 7.19 | 18.68 |
| Ulcer Index | 5.19% | 4.08% |
| Daily Std Dev | 23.44% | 24.59% |
| Max Drawdown | -51.34% | -42.37% |
| Current Drawdown | -1.45% | 0.00% |
Correlation
The correlation between PSCM and AIRR is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
PSCM vs. AIRR - Performance Comparison
In the year-to-date period, PSCM achieves a 14.01% return, which is significantly lower than AIRR's 46.22% return. Over the past 10 years, PSCM has underperformed AIRR with an annualized return of 8.15%, while AIRR has yielded a comparatively higher 16.38% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PSCM vs. AIRR - Expense Ratio Comparison
PSCM has a 0.29% expense ratio, which is lower than AIRR's 0.70% expense ratio.
Risk-Adjusted Performance
PSCM vs. AIRR - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Materials ETF (PSCM) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.
Dividends
PSCM vs. AIRR - Dividend Comparison
PSCM's dividend yield for the trailing twelve months is around 0.74%, more than AIRR's 0.15% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSCM Invesco S&P SmallCap Materials ETF | 0.74% | 0.81% | 0.93% | 0.67% | 1.56% | 1.14% | 1.25% | 0.62% | 0.76% | 1.33% | 0.85% | 0.52% |
AIRR First Trust RBA American Industrial Renaissance ETF | 0.15% | 0.23% | 0.12% | 0.05% | 0.10% | 0.20% | 0.43% | 0.30% | 0.08% | 0.47% | 0.37% | 0.00% |
Drawdowns
PSCM vs. AIRR - Drawdown Comparison
The maximum PSCM drawdown since its inception was -51.34%, which is greater than AIRR's maximum drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for PSCM and AIRR. For additional features, visit the drawdowns tool.
Volatility
PSCM vs. AIRR - Volatility Comparison
Invesco S&P SmallCap Materials ETF (PSCM) and First Trust RBA American Industrial Renaissance ETF (AIRR) have volatilities of 9.73% and 9.31%, 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.