PSP vs. PEX
Compare and contrast key facts about Invesco Global Listed Private Equity ETF (PSP) and ProShares Global Listed Private Equity ETF (PEX).
PSP and PEX 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. PEX is a passively managed fund by ProShares that tracks the performance of the LPX Direct Listed Private Equity Index. It was launched on Feb 26, 2013. Both PSP and PEX 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 PEX.
Performance
PSP vs. PEX - Performance Comparison
Returns By Period
In the year-to-date period, PSP achieves a 18.93% return, which is significantly higher than PEX's 10.55% return. Over the past 10 years, PSP has outperformed PEX with an annualized return of 8.81%, while PEX has yielded a comparatively lower 6.52% annualized return.
PSP
18.93%
-0.88%
10.90%
36.99%
9.42%
8.81%
PEX
10.55%
-1.42%
1.68%
20.03%
5.88%
6.52%
Key characteristics
| PSP | PEX | |
|---|---|---|
| Sharpe Ratio | 2.19 | 1.65 |
| Sortino Ratio | 2.86 | 2.23 |
| Omega Ratio | 1.37 | 1.29 |
| Calmar Ratio | 1.40 | 1.09 |
| Martin Ratio | 14.47 | 9.86 |
| Ulcer Index | 2.70% | 2.05% |
| Daily Std Dev | 17.87% | 12.23% |
| Max Drawdown | -85.40% | -49.17% |
| Current Drawdown | -2.86% | -1.78% |
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PSP vs. PEX - Expense Ratio Comparison
PSP has a 1.44% expense ratio, which is lower than PEX's 3.13% expense ratio.
Correlation
The correlation between PSP and PEX is 0.74, 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.
Risk-Adjusted Performance
PSP vs. PEX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) and ProShares Global Listed Private Equity ETF (PEX). 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. PEX - Dividend Comparison
PSP's dividend yield for the trailing twelve months is around 7.72%, less than PEX's 13.83% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | 7.72% | 3.96% | 2.87% | 10.33% | 4.66% | 5.86% | 6.80% | 10.18% | 4.11% | 6.23% | 4.94% | 13.48% |
PEX ProShares Global Listed Private Equity ETF | 13.83% | 13.02% | 1.77% | 13.64% | 5.52% | 7.94% | 4.72% | 24.26% | 4.32% | 12.50% | 6.28% | 9.05% |
Drawdowns
PSP vs. PEX - Drawdown Comparison
The maximum PSP drawdown since its inception was -85.40%, which is greater than PEX's maximum drawdown of -49.17%. Use the drawdown chart below to compare losses from any high point for PSP and PEX. For additional features, visit the drawdowns tool.
Volatility
PSP vs. PEX - Volatility Comparison
Invesco Global Listed Private Equity ETF (PSP) has a higher volatility of 5.83% compared to ProShares Global Listed Private Equity ETF (PEX) at 3.50%. This indicates that PSP's price experiences larger fluctuations and is considered to be riskier than PEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.