PTF vs. FCLD

Last updated Jun 13, 2026

PTF (Invesco DWA Technology Momentum ETF) and FCLD (Fidelity Cloud Computing ETF) are both exchange-traded funds - PTF is a Momentum fund tracking the DWA Technology Technical Leaders Index, while FCLD is a Technology Equities fund tracking the Fidelity Cloud Computing Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, PTF returned 39.34%/yr vs 24.61%/yr for FCLD. A 0.80 correlation means they provide meaningful diversification when combined. PTF charges 0.60%/yr vs 0.39%/yr for FCLD.

Performance

PTF vs. FCLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Technology Momentum ETF (PTF) and Fidelity Cloud Computing ETF (FCLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PTF achieves a 69.64% return, which is significantly higher than FCLD's 26.37% 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%

FCLD

• 1D: 1.88%
• 1M: 9.94%
• YTD: 26.37%
• 6M: 24.95%
• 1Y: 35.98%
• 3Y*: 24.61%
• 5Y*: —
• 10Y*: —

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

PTF vs. FCLD - 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%	9.77%
FCLD Fidelity Cloud Computing ETF	26.37%	8.19%	21.80%	53.05%	-41.32%	-1.59%

Correlation

The correlation between PTF and FCLD is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Oct 7, 2021	0.80

The correlation between PTF and FCLD shifts across timeframes, from 0.61 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.

PTF vs. FCLD - Sectors Allocation Comparison

Sectors	PTF	FCLD
Technology	92.9%	86.1%
Communication Services	5.8%	3.7%
Industrials	1.8%	-
Energy	1.6%	-
Financial Services	1.4%	-
Basic Materials	-	-
Consumer Cyclical	-	2.3%
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	7.9%
Utilities	-	-

Return for Risk

PTF vs. FCLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PTF

PTF Risk / Return Rank: 83
PTF Sharpe Ratio Rank: 85
PTF Sortino Ratio Rank: 70
PTF Omega Ratio Rank: 74
PTF Calmar Ratio Rank: 92
PTF Martin Ratio Rank: 92

FCLD

FCLD Risk / Return Rank: 41
FCLD Sharpe Ratio Rank: 41
FCLD Sortino Ratio Rank: 40
FCLD Omega Ratio Rank: 38
FCLD Calmar Ratio Rank: 47
FCLD Martin Ratio Rank: 38

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.

PTF vs. FCLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Technology Momentum ETF (PTF) and Fidelity Cloud Computing ETF (FCLD). 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	FCLD	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.29	+1.10
Sortino ratio: Return per unit of downside risk	2.74	1.83	+0.91
Omega ratio: Gain probability vs. loss probability	1.38	1.22	+0.15
Calmar ratio: Return relative to maximum drawdown	5.36	2.07	+3.30
Martin ratio: Return relative to average drawdown	20.45	5.28	+15.17

PTF vs. FCLD - Sharpe Ratio Comparison

The current PTF Sharpe Ratio is 2.39, which is higher than the FCLD Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of PTF and FCLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PTF vs. FCLD - Drawdown Comparison

The maximum PTF drawdown since its inception was -55.38%, which is greater than FCLD's maximum drawdown of -50.85%. Use the drawdown chart below to compare losses from any high point for PTF and FCLD.

Drawdown Indicators

	PTF	FCLD	Difference
Max Drawdown Largest peak-to-trough decline	-55.38%	-50.85%	-4.53%
Max Drawdown (1Y) Largest decline over 1 year	-17.99%	-17.48%	-0.51%
Max Drawdown (3Y) Largest decline over 3 years	-36.11%	-34.80%	-1.31%
Max Drawdown (5Y) Largest decline over 5 years	-44.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.88%	—	—
Current Drawdown Current decline from peak	-4.47%	-9.85%	+5.38%
Average Drawdown Average peak-to-trough decline	-13.26%	-20.42%	+7.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.71%	6.84%	-2.13%

Volatility

PTF vs. FCLD - Volatility Comparison

Invesco DWA Technology Momentum ETF (PTF) has a higher volatility of 16.30% compared to Fidelity Cloud Computing ETF (FCLD) at 11.75%. This indicates that PTF's price experiences larger fluctuations and is considered to be riskier than FCLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTF	FCLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.30%	11.75%	+4.55%
Volatility (6M) Calculated over the trailing 6-month period	31.97%	22.90%	+9.07%
Volatility (1Y) Calculated over the trailing 1-year period	40.36%	28.06%	+12.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.34%	30.54%	+4.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.16%	30.54%	+2.62%

PTF vs. FCLD - Expense Ratio Comparison

PTF has a 0.60% expense ratio, which is higher than FCLD's 0.39% expense ratio.

Dividends

PTF vs. FCLD - Dividend Comparison

PTF's dividend yield for the trailing twelve months is around 0.01%, less than FCLD's 0.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FCLD Fidelity Cloud Computing ETF	0.02%	0.03%	0.13%	0.17%	0.26%	0.13%	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

Can I hold both PTF and FCLD in my portfolio?

PTF and FCLD have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTF or FCLD?

PTF has higher volatility (16.30%) compared to FCLD (11.75%). In terms of maximum drawdown, PTF dropped -55.38% vs FCLD's -50.85%.

Which ETF is better, PTF or FCLD?

On 3-year performance, PTF leads with 39.34% vs 24.61% for FCLD. On fees, FCLD is cheaper at 0.39% per year. On volatility, FCLD has been the lower-risk option at 11.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTF or FCLD?

Over the 3-year period, PTF has performed better with a 39.34% return vs 24.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTF or FCLD?

FCLD is cheaper with a 0.39% expense ratio, compared with 0.60% for PTF.

Which ETF pays a higher dividend yield, PTF or FCLD?

FCLD has the higher dividend yield at 0.02%, compared with 0.01% for PTF.

What is the main difference between PTF and FCLD?

PTF is categorized as Momentum, while FCLD is Technology Equities. PTF tracks DWA Technology Technical Leaders Index, while FCLD tracks Fidelity Cloud Computing Index - Benchmark TR Gross. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.60% for PTF and 0.39% for FCLD.

Which has better risk-adjusted returns?

PTF currently has the higher Sharpe Ratio (2.39 vs 1.29), 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.