PSP vs. VEGA
PSP (Invesco Global Listed Private Equity ETF) and VEGA (AdvisorShares STAR Global Buy-Write ETF) are both Global Equities funds. PSP is passively managed, while VEGA is actively managed. Over the past 10 years, PSP returned 7.81%/yr vs 7.93%/yr for VEGA. A 0.64 correlation means they provide meaningful diversification when combined. PSP charges 1.44%/yr vs 2.02%/yr for VEGA.
Performance
PSP vs. VEGA - 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 VEGA's 5.66% return. Both investments have delivered pretty close results over the past 10 years, with PSP having a 7.81% annualized return and VEGA not far ahead at 7.93%.
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%
VEGA
- 1D
- -1.18%
- 1M
- -0.24%
- YTD
- 5.66%
- 6M
- 4.89%
- 1Y
- 16.81%
- 3Y*
- 13.24%
- 5Y*
- 6.73%
- 10Y*
- 7.93%
PSP vs. VEGA - 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% |
VEGA AdvisorShares STAR Global Buy-Write ETF | 5.66% | 15.83% | 11.20% | 15.12% | -15.02% | 12.36% | 8.37% | 19.29% | -6.58% | 11.50% |
Correlation
The correlation between PSP and VEGA is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2012 | 0.64 |
The correlation between PSP and VEGA shifts across timeframes, from 0.64 (all time) to 0.75 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PSP vs. VEGA — Risk / Return Rank
PSP
VEGA
PSP vs. VEGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) and AdvisorShares STAR Global Buy-Write ETF (VEGA). 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 | VEGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.30 | ||
| Sortino ratioReturn per unit of downside risk | -3.08 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.33 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | 2.46 | -2.95 |
| Martin ratioReturn relative to average drawdown | -1.04 | 10.76 | -11.80 |
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Drawdowns
PSP vs. VEGA - Drawdown Comparison
The maximum PSP drawdown since its inception was -85.40%, which is greater than VEGA's maximum drawdown of -28.37%. Use the drawdown chart below to compare losses from any high point for PSP and VEGA.
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Drawdown Indicators
| PSP | VEGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.40% | -28.37% | -57.03% |
Max Drawdown (1Y)Largest decline over 1 year | -22.37% | -6.86% | -15.51% |
Max Drawdown (3Y)Largest decline over 3 years | -22.94% | -11.62% | -11.32% |
Max Drawdown (5Y)Largest decline over 5 years | -47.16% | -22.78% | -24.38% |
Max Drawdown (10Y)Largest decline over 10 years | -47.16% | -28.37% | -18.79% |
Current DrawdownCurrent decline from peak | -20.37% | -1.85% | -18.52% |
Average DrawdownAverage peak-to-trough decline | -30.65% | -3.78% | -26.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.42% | 1.57% | +8.85% |
Volatility
PSP vs. VEGA - Volatility Comparison
Invesco Global Listed Private Equity ETF (PSP) has a higher volatility of 7.37% compared to AdvisorShares STAR Global Buy-Write ETF (VEGA) at 3.86%. This indicates that PSP's price experiences larger fluctuations and is considered to be riskier than VEGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSP | VEGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.37% | 3.86% | +3.51% |
Volatility (6M)Calculated over the trailing 6-month period | 16.77% | 8.10% | +8.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.30% | 9.61% | +10.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.88% | 12.36% | +11.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.36% | 12.74% | +9.62% |
PSP vs. VEGA - Expense Ratio Comparison
PSP has a 1.44% expense ratio, which is lower than VEGA's 2.02% expense ratio.
Dividends
PSP vs. VEGA - Dividend Comparison
PSP's dividend yield for the trailing twelve months is around 6.50%, more than VEGA's 1.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VEGA AdvisorShares STAR Global Buy-Write ETF | 1.27% | 1.34% | 1.05% | 1.12% | 1.89% | 0.55% | 0.28% | 0.44% | 0.45% | 0.00% | 0.81% | 0.00% |
Frequently Asked Questions
PSP and VEGA have a correlation of 0.67, 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 VEGA (3.86%). In terms of maximum drawdown, PSP dropped -85.40% vs VEGA's -28.37%.
On 10-year performance, VEGA leads with 7.93% vs 7.81% for PSP. On fees, PSP is cheaper at 1.44% per year. On volatility, VEGA has been the lower-risk option at 3.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VEGA has performed better with a 7.93% return vs 7.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSP is cheaper with a 1.44% expense ratio, compared with 2.02% for VEGA.
PSP has the higher dividend yield at 6.50%, compared with 1.27% for VEGA.
They also come from different issuers: Invesco and AdvisorShares. Their fees differ too: 1.44% for PSP and 2.02% for VEGA.
VEGA currently has the higher Sharpe Ratio (1.76 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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