PSP vs. LPEFX

Last updated Jun 4, 2026

PSP (Invesco Global Listed Private Equity ETF) and LPEFX (ALPS/Red Rocks Global Opportunity Fund) are both Global Equities funds. Over the past 10 years, PSP returned 7.53%/yr vs 9.16%/yr for LPEFX. Their correlation of 0.85 suggests significant overlap in exposure. PSP charges 1.44%/yr vs 1.46%/yr for LPEFX.

Performance

PSP vs. LPEFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Global Listed Private Equity ETF (PSP) and ALPS/Red Rocks Global Opportunity Fund (LPEFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSP achieves a -13.50% return, which is significantly lower than LPEFX's -6.33% return. Over the past 10 years, PSP has underperformed LPEFX with an annualized return of 7.53%, while LPEFX has yielded a comparatively higher 9.16% annualized return.

PSP

• 1D: -4.75%
• 1M: -5.00%
• YTD: -13.50%
• 6M: -10.48%
• 1Y: -7.74%
• 3Y*: 10.19%
• 5Y*: -0.12%
• 10Y*: 7.53%

LPEFX

• 1D: -0.19%
• 1M: 3.09%
• YTD: -6.33%
• 6M: -3.52%
• 1Y: -4.86%
• 3Y*: 9.52%
• 5Y*: 2.52%
• 10Y*: 9.16%

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

PSP vs. LPEFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSP Invesco Global Listed Private Equity ETF	-13.50%	6.49%	17.42%	37.72%	-37.37%	27.30%	12.47%	35.73%	-15.12%	24.13%
LPEFX ALPS/Red Rocks Global Opportunity Fund	-6.33%	1.25%	17.78%	28.31%	-28.82%	23.70%	9.35%	49.57%	-12.60%	27.02%

Correlation

The correlation between PSP and LPEFX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008	0.85

The correlation between PSP and LPEFX has been stable across timeframes, ranging from 0.85 to 0.94 - a consistent structural relationship.

PSP vs. LPEFX - Sectors Allocation Comparison

Sectors	PSP	LPEFX
Financial Services	90.7%	69.2%
Consumer Defensive	5.4%	2.8%
Industrials	3.2%	9.9%
Communication Services	1.0%	1.9%
Healthcare	0.5%	-
Basic Materials	0.1%	-
Technology	0.1%	11.7%
Consumer Cyclical	-	4.5%
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

PSP vs. LPEFX — 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: 5
PSP Calmar Ratio Rank: 6
PSP Martin Ratio Rank: 5

LPEFX

LPEFX Risk / Return Rank: 2
LPEFX Sharpe Ratio Rank: 2
LPEFX Sortino Ratio Rank: 2
LPEFX Omega Ratio Rank: 2
LPEFX Calmar Ratio Rank: 2
LPEFX Martin Ratio Rank: 2

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. LPEFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) and ALPS/Red Rocks Global Opportunity Fund (LPEFX). 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.

	PSP	LPEFX	Difference
Sharpe ratio: Return per unit of total volatility	-0.39	-0.28	-0.11
Sortino ratio: Return per unit of downside risk	-0.41	-0.28	-0.13
Omega ratio: Gain probability vs. loss probability	0.95	0.97	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.35	-0.23	-0.12
Martin ratio: Return relative to average drawdown	-0.80	-0.54	-0.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSP vs. LPEFX - Sharpe Ratio Comparison

The current PSP Sharpe Ratio is -0.39, which is lower than the LPEFX Sharpe Ratio of -0.28. The chart below compares the historical Sharpe Ratios of PSP and LPEFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PSP	LPEFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.39	-0.28	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	0.10	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.40	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.19	-0.11

Drawdowns

PSP vs. LPEFX - Drawdown Comparison

The maximum PSP drawdown since its inception was -85.40%, which is greater than LPEFX's maximum drawdown of -77.00%. Use the drawdown chart below to compare losses from any high point for PSP and LPEFX.

Drawdown Indicators

	PSP	LPEFX	Difference
Max Drawdown Largest peak-to-trough decline	-85.40%	-77.00%	-8.40%
Max Drawdown (1Y) Largest decline over 1 year	-22.37%	-22.00%	-0.37%
Max Drawdown (3Y) Largest decline over 3 years	-22.94%	-22.00%	-0.94%
Max Drawdown (5Y) Largest decline over 5 years	-47.16%	-49.19%	+2.03%
Max Drawdown (10Y) Largest decline over 10 years	-47.16%	-49.19%	+2.03%
Current Drawdown Current decline from peak	-17.72%	-18.14%	+0.42%
Average Drawdown Average peak-to-trough decline	-30.69%	-22.76%	-7.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.67%	9.25%	+0.42%

Volatility

PSP vs. LPEFX - Volatility Comparison

Invesco Global Listed Private Equity ETF (PSP) has a higher volatility of 6.89% compared to ALPS/Red Rocks Global Opportunity Fund (LPEFX) at 4.13%. This indicates that PSP's price experiences larger fluctuations and is considered to be riskier than LPEFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSP	LPEFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.89%	4.13%	+2.76%
Volatility (6M) Calculated over the trailing 6-month period	16.20%	14.15%	+2.05%
Volatility (1Y) Calculated over the trailing 1-year period	19.91%	17.69%	+2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.79%	24.50%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.45%	22.87%	-0.42%

PSP vs. LPEFX - Expense Ratio Comparison

PSP has a 1.44% expense ratio, which is lower than LPEFX's 1.46% expense ratio.

Dividends

PSP vs. LPEFX - Dividend Comparison

PSP's dividend yield for the trailing twelve months is around 6.68%, less than LPEFX's 16.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LPEFX ALPS/Red Rocks Global Opportunity Fund	16.41%	15.38%	15.95%	5.56%	0.00%	26.79%	3.96%	21.96%	4.58%	13.29%	1.55%	8.21%
PSP Invesco Global Listed Private Equity ETF	6.68%	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 LPEFX in my portfolio?

With a correlation of 0.94, PSP and LPEFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PSP or LPEFX?

PSP has higher volatility (6.89%) compared to LPEFX (4.13%). In terms of maximum drawdown, PSP dropped -85.40% vs LPEFX's -77.00%.

Which has better risk-adjusted returns?

LPEFX currently has the higher Sharpe Ratio (-0.28 vs -0.39), 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.