PSP vs. PIT
PSP (Invesco Global Listed Private Equity ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - PSP is a Global Equities fund tracking the Red Rocks Global Listed Private Equity Index, while PIT is a Commodities fund actively managed by VanEck. PSP is passively managed, while PIT is actively managed. Over the past 3 years, PSP returned 9.26%/yr vs 18.98%/yr for PIT. At a 0.08 correlation, their price movements are largely independent. PSP charges 1.44%/yr vs 0.55%/yr for PIT.
Performance
PSP vs. PIT - Performance Comparison
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Returns By Period
In the year-to-date period, PSP achieves a -16.28% return, which is significantly lower than PIT's 25.62% 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%
PIT
- 1D
- -1.32%
- 1M
- -11.78%
- YTD
- 25.62%
- 6M
- 23.58%
- 1Y
- 39.64%
- 3Y*
- 18.98%
- 5Y*
- —
- 10Y*
- —
PSP vs. PIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | -16.28% | 6.49% | 17.42% | 37.72% | -1.05% |
PIT VanEck Commodity Strategy ETF | 25.62% | 21.63% | 6.77% | -4.54% | 1.67% |
Correlation
The correlation between PSP and PIT is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022 | 0.08 |
The correlation between PSP and PIT shifts across timeframes, from -0.14 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PSP vs. PIT — Risk / Return Rank
PSP
PIT
PSP vs. PIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) and VanEck Commodity Strategy ETF (PIT). 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 | PIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.38 | ||
| Sortino ratioReturn per unit of downside risk | -3.02 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.33 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | 2.62 | -3.11 |
| Martin ratioReturn relative to average drawdown | -1.04 | 10.88 | -11.92 |
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Drawdowns
PSP vs. PIT - Drawdown Comparison
The maximum PSP drawdown since its inception was -85.40%, which is greater than PIT's maximum drawdown of -15.19%. Use the drawdown chart below to compare losses from any high point for PSP and PIT.
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Drawdown Indicators
| PSP | PIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.40% | -15.19% | -70.21% |
Max Drawdown (1Y)Largest decline over 1 year | -22.37% | -15.19% | -7.18% |
Max Drawdown (3Y)Largest decline over 3 years | -22.94% | -15.19% | -7.75% |
Max Drawdown (5Y)Largest decline over 5 years | -47.16% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.16% | — | — |
Current DrawdownCurrent decline from peak | -20.37% | -15.19% | -5.18% |
Average DrawdownAverage peak-to-trough decline | -30.65% | -4.08% | -26.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.42% | 3.66% | +6.76% |
Volatility
PSP vs. PIT - Volatility Comparison
Invesco Global Listed Private Equity ETF (PSP) has a higher volatility of 7.37% compared to VanEck Commodity Strategy ETF (PIT) at 4.72%. This indicates that PSP's price experiences larger fluctuations and is considered to be riskier than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSP | PIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.37% | 4.72% | +2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 16.77% | 19.40% | -2.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.30% | 21.66% | -1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.88% | 17.50% | +6.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.36% | 17.50% | +4.86% |
PSP vs. PIT - Expense Ratio Comparison
PSP has a 1.44% expense ratio, which is higher than PIT's 0.55% expense ratio.
Dividends
PSP vs. PIT - Dividend Comparison
PSP's dividend yield for the trailing twelve months is around 6.50%, less than PIT's 7.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIT VanEck Commodity Strategy ETF | 7.10% | 8.92% | 3.59% | 6.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
PSP and PIT have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSP has higher volatility (7.37%) compared to PIT (4.72%). In terms of maximum drawdown, PSP dropped -85.40% vs PIT's -15.19%.
On 3-year performance, PIT leads with 18.98% vs 9.26% for PSP. On fees, PIT is cheaper at 0.55% per year. On volatility, PIT has been the lower-risk option at 4.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PIT has performed better with a 18.98% return vs 9.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PIT is cheaper with a 0.55% expense ratio, compared with 1.44% for PSP.
PIT has the higher dividend yield at 7.10%, compared with 6.50% for PSP.
PSP is categorized as Global Equities, while PIT is Commodities. They also come from different issuers: Invesco and VanEck. Their fees differ too: 1.44% for PSP and 0.55% for PIT.
PIT currently has the higher Sharpe Ratio (1.85 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.
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