PSP vs. BX

Last updated Jun 24, 2026

PSP (Invesco Global Listed Private Equity ETF) is Global Equities fund tracking the Red Rocks Global Listed Private Equity Index, while BX (Blackstone Inc.) is a stock. Over the past 10 years, PSP returned 7.81%/yr vs 22.60%/yr for BX. A 0.68 correlation means they provide meaningful diversification when combined.

Performance

PSP vs. BX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Global Listed Private Equity ETF (PSP) and Blackstone Inc. (BX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSP achieves a -16.28% return, which is significantly higher than BX's -20.47% return. Over the past 10 years, PSP has underperformed BX with an annualized return of 7.81%, while BX has yielded a comparatively higher 22.60% annualized return.

PSP

• 1D: -2.66%
• 1M: -7.59%
• YTD: -16.28%
• 6M: -16.44%
• 1Y: -10.82%
• 3Y*: 9.26%
• 5Y*: -0.69%
• 10Y*: 7.81%

BX

• 1D: -2.59%
• 1M: 1.32%
• YTD: -20.47%
• 6M: -20.99%
• 1Y: -10.04%
• 3Y*: 14.47%
• 5Y*: 7.41%
• 10Y*: 22.60%

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

PSP vs. BX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSP Invesco Global Listed Private Equity ETF	-16.28%	6.49%	17.42%	37.72%	-37.37%	27.30%	12.47%	35.73%	-15.12%	24.13%
BX Blackstone Inc.	-20.47%	-7.84%	35.07%	82.75%	-40.01%	107.11%	19.78%	96.33%	0.10%	27.34%

Correlation

The correlation between PSP and BX is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jun 22, 2007	0.68

The correlation between PSP and BX has been stable across timeframes, ranging from 0.68 to 0.78 - a consistent structural relationship.

Return for Risk

PSP vs. BX — Risk / Return Rank

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

PSP

PSP Risk / Return Rank: 5
PSP Sharpe Ratio Rank: 5
PSP Sortino Ratio Rank: 5
PSP Omega Ratio Rank: 4
PSP Calmar Ratio Rank: 5
PSP Martin Ratio Rank: 4

BX

BX Risk / Return Rank: 31
BX Sharpe Ratio Rank: 30
BX Sortino Ratio Rank: 27
BX Omega Ratio Rank: 28
BX Calmar Ratio Rank: 35
BX Martin Ratio Rank: 35

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.

PSP vs. BX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) and Blackstone Inc. (BX). 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.

	PSP	BX	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	-0.29	-0.25
Sortino ratio: Return per unit of downside risk	-0.62	-0.18	-0.44
Omega ratio: Gain probability vs. loss probability	0.93	0.98	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.49	-0.23	-0.26
Martin ratio: Return relative to average drawdown	-1.04	-0.41	-0.63

PSP vs. BX - Sharpe Ratio Comparison

The current PSP Sharpe Ratio is -0.54, which is lower than the BX Sharpe Ratio of -0.29. The chart below compares the historical Sharpe Ratios of PSP and BX, 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

PSP vs. BX - Drawdown Comparison

The maximum PSP drawdown since its inception was -85.40%, roughly equal to the maximum BX drawdown of -88.09%. Use the drawdown chart below to compare losses from any high point for PSP and BX.

Drawdown Indicators

	PSP	BX	Difference
Max Drawdown Largest peak-to-trough decline	-85.40%	-88.09%	+2.69%
Max Drawdown (1Y) Largest decline over 1 year	-22.37%	-44.76%	+22.39%
Max Drawdown (3Y) Largest decline over 3 years	-22.94%	-46.50%	+23.56%
Max Drawdown (5Y) Largest decline over 5 years	-47.16%	-49.29%	+2.13%
Max Drawdown (10Y) Largest decline over 10 years	-47.16%	-49.29%	+2.13%
Current Drawdown Current decline from peak	-20.37%	-36.51%	+16.14%
Average Drawdown Average peak-to-trough decline	-30.65%	-26.40%	-4.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.42%	24.71%	-14.29%

Volatility

PSP vs. BX - Volatility Comparison

The current volatility for Invesco Global Listed Private Equity ETF (PSP) is 7.37%, while Blackstone Inc. (BX) has a volatility of 12.20%. This indicates that PSP experiences smaller price fluctuations and is considered to be less risky than BX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSP	BX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.37%	12.20%	-4.83%
Volatility (6M) Calculated over the trailing 6-month period	16.77%	28.75%	-11.98%
Volatility (1Y) Calculated over the trailing 1-year period	20.30%	35.05%	-14.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.88%	39.46%	-15.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.36%	35.76%	-13.40%

Dividends

PSP vs. BX - Dividend Comparison

PSP's dividend yield for the trailing twelve months is around 6.50%, more than BX's 4.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BX Blackstone Inc.	4.14%	3.04%	2.00%	2.54%	6.66%	2.76%	2.95%	3.43%	8.12%	7.25%	6.14%	11.76%
PSP Invesco Global Listed Private Equity ETF	6.50%	5.87%	8.62%	3.96%	2.88%	10.34%	4.66%	5.87%	6.81%	10.18%	4.12%	6.23%

Frequently Asked Questions

Can I hold both PSP and BX in my portfolio?

PSP and BX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSP or BX?

BX has higher volatility (12.20%) compared to PSP (7.37%). In terms of maximum drawdown, PSP dropped -85.40% vs BX's -88.09%.

Which has better risk-adjusted returns?

BX currently has the higher Sharpe Ratio (-0.29 vs -0.54), 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.