PSP vs. HYIN
Compare and contrast key facts about Invesco Global Listed Private Equity ETF (PSP) and WisdomTree Alternative Income Fund (HYIN).
PSP and HYIN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PSP is a passively managed fund by Invesco that tracks the performance of the Red Rocks Global Listed Private Equity Index. It was launched on Oct 24, 2006. HYIN is a passively managed fund by WisdomTree that tracks the performance of the Gapstow Liquid Alternative Credit Index. It was launched on May 6, 2021. Both PSP and HYIN 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: PSP or HYIN.
Key characteristics
| PSP | HYIN | |
|---|---|---|
| YTD Return | 3.66% | 1.88% |
| 1Y Return | 34.86% | 24.19% |
| Sharpe Ratio | 1.81 | 1.51 |
| Daily Std Dev | 17.63% | 14.89% |
| Max Drawdown | -85.40% | -31.11% |
| Current Drawdown | -14.05% | -5.69% |
Correlation
The correlation between PSP and HYIN is 0.77, 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
PSP vs. HYIN - Performance Comparison
In the year-to-date period, PSP achieves a 3.66% return, which is significantly higher than HYIN's 1.88% 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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PSP vs. HYIN - Expense Ratio Comparison
PSP has a 1.44% expense ratio, which is lower than HYIN's 3.20% expense ratio.
Risk-Adjusted Performance
PSP vs. HYIN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) and WisdomTree Alternative Income Fund (HYIN). 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
PSP vs. HYIN - Dividend Comparison
PSP's dividend yield for the trailing twelve months is around 4.69%, less than HYIN's 12.06% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | 4.69% | 3.96% | 2.88% | 10.34% | 4.66% | 5.87% | 6.81% | 10.18% | 4.12% | 6.23% | 4.94% | 13.48% |
HYIN WisdomTree Alternative Income Fund | 12.06% | 11.71% | 11.34% | 4.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PSP vs. HYIN - Drawdown Comparison
The maximum PSP drawdown since its inception was -85.40%, which is greater than HYIN's maximum drawdown of -31.11%. Use the drawdown chart below to compare losses from any high point for PSP and HYIN. For additional features, visit the drawdowns tool.
Volatility
PSP vs. HYIN - Volatility Comparison
Invesco Global Listed Private Equity ETF (PSP) has a higher volatility of 5.15% compared to WisdomTree Alternative Income Fund (HYIN) at 4.60%. This indicates that PSP's price experiences larger fluctuations and is considered to be riskier than HYIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.