PSL vs. PRN

Last updated Jun 25, 2026

PSL (Invesco DWA Consumer Staples Momentum ETF) and PRN (Invesco DWA Industrials Momentum ETF) are both Momentum funds from Invesco - PSL tracks the DWA Consumer Staples Technical Leaders Index while PRN tracks the DWA Industrials Technical Leaders Index. Both are passively managed. Over the past 10 years, PSL returned 8.21%/yr vs 18.98%/yr for PRN. A 0.67 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

PSL vs. PRN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Consumer Staples Momentum ETF (PSL) and Invesco DWA Industrials Momentum ETF (PRN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSL achieves a 11.21% return, which is significantly lower than PRN's 44.48% return. Over the past 10 years, PSL has underperformed PRN with an annualized return of 8.21%, while PRN has yielded a comparatively higher 18.98% annualized return.

PSL

• 1D: 0.43%
• 1M: 0.21%
• YTD: 11.21%
• 6M: 9.38%
• 1Y: 1.20%
• 3Y*: 9.94%
• 5Y*: 4.59%
• 10Y*: 8.21%

PRN

• 1D: -0.41%
• 1M: 6.53%
• YTD: 44.48%
• 6M: 38.88%
• 1Y: 64.12%
• 3Y*: 36.08%
• 5Y*: 20.85%
• 10Y*: 18.98%

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

PSL vs. PRN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSL Invesco DWA Consumer Staples Momentum ETF	11.21%	-3.47%	15.42%	12.32%	-7.76%	6.88%	18.15%	14.16%	0.92%	21.82%
PRN Invesco DWA Industrials Momentum ETF	44.48%	13.74%	30.35%	37.96%	-25.09%	25.21%	36.39%	34.52%	-16.19%	22.82%

Correlation

The correlation between PSL and PRN is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Oct 12, 2006	0.67

Over the past year, the correlation between PSL and PRN has dropped to 0.17 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

PSL vs. PRN - Sectors Allocation Comparison

Sectors	PSL	PRN
Consumer Defensive	86.3%	-
Consumer Cyclical	10.6%	1.2%
Financial Services	1.8%	0.1%
Industrials	1.4%	78.2%
Basic Materials	-	1.8%
Communication Services	-	-
Energy	-	1.6%
Healthcare	-	-
Real Estate	-	-
Technology	-	20.4%
Utilities	-	-

Return for Risk

PSL vs. PRN — Risk / Return Rank

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

PSL

PSL Risk / Return Rank: 10
PSL Sharpe Ratio Rank: 10
PSL Sortino Ratio Rank: 9
PSL Omega Ratio Rank: 9
PSL Calmar Ratio Rank: 10
PSL Martin Ratio Rank: 10

PRN

PRN Risk / Return Rank: 75
PRN Sharpe Ratio Rank: 74
PRN Sortino Ratio Rank: 65
PRN Omega Ratio Rank: 65
PRN Calmar Ratio Rank: 87
PRN Martin Ratio Rank: 83

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.

PSL vs. PRN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Consumer Staples Momentum ETF (PSL) and Invesco DWA Industrials Momentum ETF (PRN). 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	PRN	Difference
Sharpe ratio: Return per unit of total volatility	0.09	2.12	-2.03
Sortino ratio: Return per unit of downside risk	0.21	2.67	-2.46
Omega ratio: Gain probability vs. loss probability	1.03	1.35	-0.32
Calmar ratio: Return relative to maximum drawdown	0.09	4.55	-4.47
Martin ratio: Return relative to average drawdown	0.19	14.91	-14.71

PSL vs. PRN - Sharpe Ratio Comparison

The current PSL Sharpe Ratio is 0.09, which is lower than the PRN Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of PSL and PRN, 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

PSL vs. PRN - Drawdown Comparison

The maximum PSL drawdown since its inception was -41.58%, smaller than the maximum PRN drawdown of -59.88%. Use the drawdown chart below to compare losses from any high point for PSL and PRN.

Drawdown Indicators

	PSL	PRN	Difference
Max Drawdown Largest peak-to-trough decline	-41.58%	-59.88%	+18.30%
Max Drawdown (1Y) Largest decline over 1 year	-13.64%	-14.15%	+0.51%
Max Drawdown (3Y) Largest decline over 3 years	-13.64%	-30.78%	+17.14%
Max Drawdown (5Y) Largest decline over 5 years	-19.45%	-34.84%	+15.39%
Max Drawdown (10Y) Largest decline over 10 years	-34.67%	-36.27%	+1.60%
Current Drawdown Current decline from peak	-4.60%	-3.96%	-0.64%
Average Drawdown Average peak-to-trough decline	-5.81%	-10.81%	+5.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.20%	4.31%	+1.89%

Volatility

PSL vs. PRN - Volatility Comparison

The current volatility for Invesco DWA Consumer Staples Momentum ETF (PSL) is 4.44%, while Invesco DWA Industrials Momentum ETF (PRN) has a volatility of 12.01%. This indicates that PSL experiences smaller price fluctuations and is considered to be less risky than PRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSL	PRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	12.01%	-7.57%
Volatility (6M) Calculated over the trailing 6-month period	9.20%	24.15%	-14.95%
Volatility (1Y) Calculated over the trailing 1-year period	13.11%	30.45%	-17.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.17%	25.41%	-10.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.51%	24.38%	-7.87%

PSL vs. PRN - Expense Ratio Comparison

Both PSL and PRN have an expense ratio of 0.60%.

Dividends

PSL vs. PRN - Dividend Comparison

PSL's dividend yield for the trailing twelve months is around 0.75%, more than PRN's 0.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRN Invesco DWA Industrials Momentum ETF	0.08%	0.17%	0.39%	0.52%	0.82%	0.11%	0.10%	0.42%	0.29%	0.60%	0.57%	0.44%
PSL Invesco DWA Consumer Staples Momentum ETF	0.75%	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

Can I hold both PSL and PRN in my portfolio?

PSL and PRN have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSL or PRN?

PRN has higher volatility (12.01%) compared to PSL (4.44%). In terms of maximum drawdown, PSL dropped -41.58% vs PRN's -59.88%.

Which ETF is better, PSL or PRN?

On 10-year performance, PRN leads with 18.98% vs 8.21% for PSL. Both ETFs have the same 0.60% expense ratio. On volatility, PSL has been the lower-risk option at 4.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSL or PRN?

Over the 10-year period, PRN has performed better with a 18.98% return vs 8.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSL or PRN?

PSL and PRN have the same expense ratio: 0.60% per year.

Which ETF pays a higher dividend yield, PSL or PRN?

PSL has the higher dividend yield at 0.75%, compared with 0.08% for PRN.

What is the main difference between PSL and PRN?

PSL tracks DWA Consumer Staples Technical Leaders Index, while PRN tracks DWA Industrials Technical Leaders Index.

Which has better risk-adjusted returns?

PRN currently has the higher Sharpe Ratio (2.12 vs 0.09), 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.