PSL vs. FALN
PSL (Invesco DWA Consumer Staples Momentum ETF) and FALN (iShares Fallen Angels USD Bond ETF) are both exchange-traded funds - PSL is a Momentum fund tracking the DWA Consumer Staples Technical Leaders Index, while FALN is a High Yield Bonds fund tracking the Bloomberg US High Yield Fallen Angel 3% Capped Index. Both are passively managed. Over the past 10 years, PSL returned 8.16%/yr vs 6.60%/yr for FALN. At a 0.45 correlation, their price movements are largely independent. PSL charges 0.60%/yr vs 0.25%/yr for FALN.
Performance
PSL vs. FALN - Performance Comparison
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Returns By Period
In the year-to-date period, PSL achieves a 10.74% return, which is significantly higher than FALN's 2.24% return. Over the past 10 years, PSL has outperformed FALN with an annualized return of 8.16%, while FALN has yielded a comparatively lower 6.60% annualized return.
PSL
- 1D
- 1.50%
- 1M
- -0.21%
- YTD
- 10.74%
- 6M
- 9.53%
- 1Y
- 0.59%
- 3Y*
- 9.78%
- 5Y*
- 4.65%
- 10Y*
- 8.16%
FALN
- 1D
- 0.00%
- 1M
- 1.07%
- YTD
- 2.24%
- 6M
- 2.42%
- 1Y
- 7.88%
- 3Y*
- 9.39%
- 5Y*
- 3.74%
- 10Y*
- 6.60%
PSL vs. FALN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSL Invesco DWA Consumer Staples Momentum ETF | 10.74% | -3.47% | 15.42% | 12.32% | -7.76% | 6.88% | 18.15% | 14.16% | 0.92% | 21.82% |
FALN iShares Fallen Angels USD Bond ETF | 2.24% | 8.92% | 7.68% | 13.47% | -13.79% | 5.40% | 14.85% | 17.42% | -4.97% | 8.70% |
Correlation
The correlation between PSL and FALN is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2016 | 0.45 |
The correlation between PSL and FALN shifts across timeframes, from 0.26 (1 year) to 0.47 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PSL vs. FALN — Risk / Return Rank
PSL
FALN
PSL vs. FALN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Consumer Staples Momentum ETF (PSL) and iShares Fallen Angels USD Bond ETF (FALN). 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.
| PSL | FALN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.68 | ||
| Sortino ratioReturn per unit of downside risk | -2.35 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.33 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.04 | 2.00 | -1.95 |
| Martin ratioReturn relative to average drawdown | 0.10 | 8.32 | -8.23 |
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Drawdowns
PSL vs. FALN - Drawdown Comparison
The maximum PSL drawdown since its inception was -41.58%, which is greater than FALN's maximum drawdown of -29.22%. Use the drawdown chart below to compare losses from any high point for PSL and FALN.
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Drawdown Indicators
| PSL | FALN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.58% | -29.22% | -12.36% |
Max Drawdown (1Y)Largest decline over 1 year | -13.64% | -3.96% | -9.68% |
Max Drawdown (3Y)Largest decline over 3 years | -13.64% | -5.92% | -7.72% |
Max Drawdown (5Y)Largest decline over 5 years | -19.45% | -18.78% | -0.67% |
Max Drawdown (10Y)Largest decline over 10 years | -34.67% | -29.22% | -5.45% |
Current DrawdownCurrent decline from peak | -5.00% | -0.11% | -4.89% |
Average DrawdownAverage peak-to-trough decline | -5.81% | -3.31% | -2.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.19% | 0.95% | +5.24% |
Volatility
PSL vs. FALN - Volatility Comparison
Invesco DWA Consumer Staples Momentum ETF (PSL) has a higher volatility of 4.42% compared to iShares Fallen Angels USD Bond ETF (FALN) at 1.18%. This indicates that PSL's price experiences larger fluctuations and is considered to be riskier than FALN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSL | FALN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 1.18% | +3.24% |
Volatility (6M)Calculated over the trailing 6-month period | 9.19% | 3.72% | +5.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.17% | 4.60% | +8.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.17% | 7.33% | +7.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.52% | 8.92% | +7.60% |
PSL vs. FALN - Expense Ratio Comparison
PSL has a 0.60% expense ratio, which is higher than FALN's 0.25% expense ratio.
Dividends
PSL vs. FALN - Dividend Comparison
PSL's dividend yield for the trailing twelve months is around 0.76%, less than FALN's 6.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FALN iShares Fallen Angels USD Bond ETF | 6.42% | 6.31% | 6.24% | 5.37% | 5.08% | 3.40% | 5.14% | 5.35% | 5.97% | 6.98% | 3.55% | 0.00% |
PSL Invesco DWA Consumer Staples Momentum ETF | 0.76% | 0.93% | 0.60% | 1.37% | 1.98% | 1.24% | 0.80% | 0.47% | 0.75% | 0.34% | 2.08% | 1.18% |
Frequently Asked Questions
PSL and FALN have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSL has higher volatility (4.42%) compared to FALN (1.18%). In terms of maximum drawdown, PSL dropped -41.58% vs FALN's -29.22%.
On 10-year performance, PSL leads with 8.16% vs 6.60% for FALN. On fees, FALN is cheaper at 0.25% per year. On volatility, FALN has been the lower-risk option at 1.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PSL has performed better with a 8.16% return vs 6.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FALN is cheaper with a 0.25% expense ratio, compared with 0.60% for PSL.
FALN has the higher dividend yield at 6.42%, compared with 0.76% for PSL.
PSL is categorized as Momentum, while FALN is High Yield Bonds. PSL tracks DWA Consumer Staples Technical Leaders Index, while FALN tracks Bloomberg US High Yield Fallen Angel 3% Capped Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.60% for PSL and 0.25% for FALN.
FALN currently has the higher Sharpe Ratio (1.72 vs 0.05), 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.
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