PTF vs. APP
PTF (Invesco DWA Technology Momentum ETF) is Momentum fund tracking the DWA Technology Technical Leaders Index, while APP (AppLovin Corporation) is a stock. Over the past 5 years, PTF returned 21.88%/yr vs 43.23%/yr for APP. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
PTF vs. APP - Performance Comparison
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Returns By Period
In the year-to-date period, PTF achieves a 69.64% return, which is significantly higher than APP's -26.28% return.
PTF
- 1D
- 1.49%
- 1M
- 6.00%
- YTD
- 69.64%
- 6M
- 66.68%
- 1Y
- 95.99%
- 3Y*
- 39.34%
- 5Y*
- 21.88%
- 10Y*
- 26.39%
APP
- 1D
- 3.80%
- 1M
- 9.53%
- YTD
- -26.28%
- 6M
- -25.93%
- 1Y
- 30.53%
- 3Y*
- 180.45%
- 5Y*
- 43.23%
- 10Y*
- —
PTF vs. APP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PTF Invesco DWA Technology Momentum ETF | 69.64% | 5.68% | 43.65% | 33.73% | -31.75% | 14.10% |
APP AppLovin Corporation | -26.28% | 108.08% | 712.62% | 278.44% | -88.83% | 34.66% |
Correlation
The correlation between PTF and APP is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021 | 0.55 |
Over the past year, the correlation between PTF and APP has dropped to 0.33 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.
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Return for Risk
PTF vs. APP — Risk / Return Rank
PTF
APP
PTF vs. APP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Technology Momentum ETF (PTF) and AppLovin Corporation (APP). 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.
| PTF | APP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.72 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.13 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 5.36 | 0.61 | +4.75 |
| Martin ratioReturn relative to average drawdown | 20.45 | 1.22 | +19.23 |
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Drawdowns
PTF vs. APP - Drawdown Comparison
The maximum PTF drawdown since its inception was -55.38%, smaller than the maximum APP drawdown of -91.90%. Use the drawdown chart below to compare losses from any high point for PTF and APP.
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Drawdown Indicators
| PTF | APP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.38% | -91.90% | +36.52% |
Max Drawdown (1Y)Largest decline over 1 year | -17.99% | -49.99% | +32.00% |
Max Drawdown (3Y)Largest decline over 3 years | -36.11% | -57.00% | +20.89% |
Max Drawdown (5Y)Largest decline over 5 years | -44.88% | -91.90% | +47.02% |
Max Drawdown (10Y)Largest decline over 10 years | -44.88% | — | — |
Current DrawdownCurrent decline from peak | -4.47% | -32.28% | +27.81% |
Average DrawdownAverage peak-to-trough decline | -13.26% | -42.52% | +29.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.71% | 25.10% | -20.39% |
Volatility
PTF vs. APP - Volatility Comparison
The current volatility for Invesco DWA Technology Momentum ETF (PTF) is 16.30%, while AppLovin Corporation (APP) has a volatility of 20.54%. This indicates that PTF experiences smaller price fluctuations and is considered to be less risky than APP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PTF | APP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.30% | 20.54% | -4.24% |
Volatility (6M)Calculated over the trailing 6-month period | 31.97% | 58.87% | -26.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.36% | 71.03% | -30.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.34% | 77.84% | -42.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.16% | 77.53% | -44.37% |
Dividends
PTF vs. APP - Dividend Comparison
PTF's dividend yield for the trailing twelve months is around 0.01%, while APP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
APP AppLovin Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PTF Invesco DWA Technology Momentum ETF | 0.01% | 0.21% | 0.00% | 0.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.08% | 0.04% | 0.26% |
Frequently Asked Questions
PTF and APP have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APP has higher volatility (20.54%) compared to PTF (16.30%). In terms of maximum drawdown, PTF dropped -55.38% vs APP's -91.90%.
PTF currently has the higher Sharpe Ratio (2.39 vs 0.43), 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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