PSL vs. ULVM

Last updated Jun 25, 2026

PSL (Invesco DWA Consumer Staples Momentum ETF) and ULVM (VictoryShares US Value Momentum ETF) are both Momentum funds - PSL tracks the DWA Consumer Staples Technical Leaders Index while ULVM tracks the Nasdaq Victory US Value Momentum Index. Both are passively managed. Over the past 5 years, PSL returned 4.59%/yr vs 12.18%/yr for ULVM. A 0.73 correlation means they provide meaningful diversification when combined. PSL charges 0.60%/yr vs 0.20%/yr for ULVM.

Performance

PSL vs. ULVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Consumer Staples Momentum ETF (PSL) and VictoryShares US Value Momentum ETF (ULVM). 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 ULVM's 16.94% 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%

ULVM

• 1D: 0.24%
• 1M: 2.90%
• YTD: 16.94%
• 6M: 15.20%
• 1Y: 28.17%
• 3Y*: 21.52%
• 5Y*: 12.18%
• 10Y*: —

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

PSL vs. ULVM - 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%	6.61%
ULVM VictoryShares US Value Momentum ETF	16.94%	15.84%	19.76%	10.16%	-9.04%	31.06%	3.51%	22.08%	-12.07%	4.11%

Correlation

The correlation between PSL and ULVM is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017	0.73

Over the past year, the correlation between PSL and ULVM has dropped to 0.51 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.

PSL vs. ULVM - Sectors Allocation Comparison

Sectors	PSL	ULVM
Consumer Defensive	86.3%	4.6%
Consumer Cyclical	10.6%	5.4%
Financial Services	1.8%	22.6%
Industrials	1.4%	12.3%
Basic Materials	-	4.1%
Communication Services	-	3.4%
Energy	-	3.3%
Healthcare	-	10.2%
Real Estate	-	8.5%
Technology	-	13.5%
Utilities	-	12.2%

Return for Risk

PSL vs. ULVM — 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

ULVM

ULVM Risk / Return Rank: 88
ULVM Sharpe Ratio Rank: 89
ULVM Sortino Ratio Rank: 90
ULVM Omega Ratio Rank: 85
ULVM Calmar Ratio Rank: 87
ULVM Martin Ratio Rank: 90

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. ULVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Consumer Staples Momentum ETF (PSL) and VictoryShares US Value Momentum ETF (ULVM). 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	ULVM	Difference
Sharpe ratio: Return per unit of total volatility	0.09	2.61	-2.51
Sortino ratio: Return per unit of downside risk	0.21	3.69	-3.47
Omega ratio: Gain probability vs. loss probability	1.03	1.45	-0.43
Calmar ratio: Return relative to maximum drawdown	0.09	4.38	-4.29
Martin ratio: Return relative to average drawdown	0.19	18.07	-17.87

PSL vs. ULVM - Sharpe Ratio Comparison

The current PSL Sharpe Ratio is 0.09, which is lower than the ULVM Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of PSL and ULVM, 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. ULVM - Drawdown Comparison

The maximum PSL drawdown since its inception was -41.58%, roughly equal to the maximum ULVM drawdown of -40.71%. Use the drawdown chart below to compare losses from any high point for PSL and ULVM.

Drawdown Indicators

	PSL	ULVM	Difference
Max Drawdown Largest peak-to-trough decline	-41.58%	-40.71%	-0.87%
Max Drawdown (1Y) Largest decline over 1 year	-13.64%	-6.47%	-7.17%
Max Drawdown (3Y) Largest decline over 3 years	-13.64%	-18.14%	+4.50%
Max Drawdown (5Y) Largest decline over 5 years	-19.45%	-19.77%	+0.32%
Max Drawdown (10Y) Largest decline over 10 years	-34.67%	—	—
Current Drawdown Current decline from peak	-4.60%	-0.28%	-4.32%
Average Drawdown Average peak-to-trough decline	-5.81%	-5.71%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.20%	1.56%	+4.64%

Volatility

PSL vs. ULVM - Volatility Comparison

Invesco DWA Consumer Staples Momentum ETF (PSL) has a higher volatility of 4.44% compared to VictoryShares US Value Momentum ETF (ULVM) at 3.14%. This indicates that PSL's price experiences larger fluctuations and is considered to be riskier than ULVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSL	ULVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	3.14%	+1.30%
Volatility (6M) Calculated over the trailing 6-month period	9.20%	8.30%	+0.90%
Volatility (1Y) Calculated over the trailing 1-year period	13.11%	10.87%	+2.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.17%	15.48%	-0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.51%	18.82%	-2.31%

PSL vs. ULVM - Expense Ratio Comparison

PSL has a 0.60% expense ratio, which is higher than ULVM's 0.20% expense ratio.

Dividends

PSL vs. ULVM - Dividend Comparison

PSL's dividend yield for the trailing twelve months is around 0.75%, less than ULVM's 1.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
ULVM VictoryShares US Value Momentum ETF	1.62%	1.81%	1.57%	1.94%	1.91%	1.36%	1.51%	1.88%	1.67%	0.38%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSL and ULVM in my portfolio?

PSL and ULVM have a correlation of 0.51, 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 ULVM?

PSL has higher volatility (4.44%) compared to ULVM (3.14%). In terms of maximum drawdown, PSL dropped -41.58% vs ULVM's -40.71%.

Which ETF is better, PSL or ULVM?

On 5-year performance, ULVM leads with 12.18% vs 4.59% for PSL. On fees, ULVM is cheaper at 0.20% per year. On volatility, ULVM has been the lower-risk option at 3.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSL or ULVM?

Over the 5-year period, ULVM has performed better with a 12.18% return vs 4.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSL or ULVM?

ULVM is cheaper with a 0.20% expense ratio, compared with 0.60% for PSL.

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

ULVM has the higher dividend yield at 1.62%, compared with 0.75% for PSL.

What is the main difference between PSL and ULVM?

PSL tracks DWA Consumer Staples Technical Leaders Index, while ULVM tracks Nasdaq Victory US Value Momentum Index. They also come from different issuers: Invesco and Victory Capital. Their fees differ too: 0.60% for PSL and 0.20% for ULVM.

Which has better risk-adjusted returns?

ULVM currently has the higher Sharpe Ratio (2.61 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.