PTF vs. PRN

Last updated Jun 24, 2026

PTF (Invesco Dorsey Wright Technology Momentum ETF) and PRN (Invesco DWA Industrials Momentum ETF) are both Momentum funds from Invesco - PTF tracks the Dorsey Wright Technology Technical Leaders Index while PRN tracks the DWA Industrials Technical Leaders Index. Both are passively managed. Over the past 10 years, PTF returned 26.71%/yr vs 19.03%/yr for PRN. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

PTF vs. PRN - Performance Comparison

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

Returns By Period

In the year-to-date period, PTF achieves a 69.43% return, which is significantly higher than PRN's 45.08% return. Over the past 10 years, PTF has outperformed PRN with an annualized return of 26.71%, while PRN has yielded a comparatively lower 19.03% annualized return.

PTF

• 1D: -6.34%
• 1M: 5.02%
• YTD: 69.43%
• 6M: 64.22%
• 1Y: 96.10%
• 3Y*: 41.16%
• 5Y*: 21.25%
• 10Y*: 26.71%

PRN

• 1D: -3.57%
• 1M: 6.97%
• YTD: 45.08%
• 6M: 39.29%
• 1Y: 65.87%
• 3Y*: 36.27%
• 5Y*: 20.84%
• 10Y*: 19.03%

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

PTF vs. PRN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTF Invesco Dorsey Wright Technology Momentum ETF	69.43%	5.68%	43.65%	33.73%	-31.75%	18.10%	82.06%	46.71%	0.01%	32.07%
PRN Invesco DWA Industrials Momentum ETF	45.08%	13.74%	30.35%	37.96%	-25.09%	25.21%	36.39%	34.52%	-16.19%	22.82%

Correlation

The correlation between PTF and PRN is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Oct 12, 2006	0.76

The correlation between PTF and PRN has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

PTF vs. PRN - Sectors Allocation Comparison

Sectors	PTF	PRN
Technology	93.8%	20.4%
Communication Services	4.7%	-
Industrials	1.8%	78.2%
Energy	1.6%	1.6%
Financial Services	1.5%	0.1%
Basic Materials	-	1.8%
Consumer Cyclical	-	1.2%
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

PTF vs. PRN — Risk / Return Rank

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

PTF

PTF Risk / Return Rank: 76
PTF Sharpe Ratio Rank: 77
PTF Sortino Ratio Rank: 59
PTF Omega Ratio Rank: 64
PTF Calmar Ratio Rank: 90
PTF Martin Ratio Rank: 91

PRN

PRN Risk / Return Rank: 72
PRN Sharpe Ratio Rank: 72
PRN Sortino Ratio Rank: 62
PRN Omega Ratio Rank: 61
PRN Calmar Ratio Rank: 87
PRN Martin Ratio Rank: 81

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. PRN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dorsey Wright Technology Momentum ETF (PTF) and Invesco DWA Industrials Momentum ETF (PRN). 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	PRN	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.18	+0.16
Sortino ratio: Return per unit of downside risk	2.67	2.72	-0.05
Omega ratio: Gain probability vs. loss probability	1.37	1.35	+0.02
Calmar ratio: Return relative to maximum drawdown	5.37	4.68	+0.69
Martin ratio: Return relative to average drawdown	20.37	15.34	+5.03

PTF vs. PRN - Sharpe Ratio Comparison

The current PTF Sharpe Ratio is 2.34, which is comparable to the PRN Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of PTF and PRN, 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. PRN - Drawdown Comparison

The maximum PTF drawdown since its inception was -55.38%, smaller than the maximum PRN drawdown of -59.88%. Use the drawdown chart below to compare losses from any high point for PTF and PRN.

Drawdown Indicators

	PTF	PRN	Difference
Max Drawdown Largest peak-to-trough decline	-55.38%	-59.88%	+4.50%
Max Drawdown (1Y) Largest decline over 1 year	-17.99%	-14.15%	-3.84%
Max Drawdown (3Y) Largest decline over 3 years	-36.11%	-30.78%	-5.33%
Max Drawdown (5Y) Largest decline over 5 years	-44.88%	-34.84%	-10.04%
Max Drawdown (10Y) Largest decline over 10 years	-44.88%	-36.27%	-8.61%
Current Drawdown Current decline from peak	-6.34%	-3.57%	-2.77%
Average Drawdown Average peak-to-trough decline	-13.25%	-10.82%	-2.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.73%	4.31%	+0.42%

Volatility

PTF vs. PRN - Volatility Comparison

Invesco Dorsey Wright Technology Momentum ETF (PTF) has a higher volatility of 17.66% compared to Invesco DWA Industrials Momentum ETF (PRN) at 12.02%. This indicates that PTF's price experiences larger fluctuations and is considered to be riskier than PRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTF	PRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.66%	12.02%	+5.64%
Volatility (6M) Calculated over the trailing 6-month period	32.05%	24.35%	+7.70%
Volatility (1Y) Calculated over the trailing 1-year period	41.37%	30.47%	+10.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.58%	25.41%	+10.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.29%	24.38%	+8.91%

PTF vs. PRN - Expense Ratio Comparison

Both PTF and PRN have an expense ratio of 0.60%.

Dividends

PTF vs. PRN - Dividend Comparison

PTF's dividend yield for the trailing twelve months is around 0.01%, less than PRN's 0.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRN Invesco DWA Industrials Momentum ETF	0.08%	0.17%	0.39%	0.52%	0.82%	0.11%	0.10%	0.42%	0.29%	0.60%	0.57%	0.44%
PTF Invesco Dorsey Wright 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%	0.00%

Frequently Asked Questions

Can I hold both PTF and PRN in my portfolio?

PTF and PRN have a correlation of 0.79, 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 PRN?

PTF has higher volatility (17.66%) compared to PRN (12.02%). In terms of maximum drawdown, PTF dropped -55.38% vs PRN's -59.88%.

Which ETF is better, PTF or PRN?

On 10-year performance, PTF leads with 26.71% vs 19.03% for PRN. Both ETFs have the same 0.60% expense ratio. On volatility, PRN has been the lower-risk option at 12.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTF or PRN?

Over the 10-year period, PTF has performed better with a 26.71% return vs 19.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTF or PRN?

PTF and PRN have the same expense ratio: 0.60% per year.

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

PRN has the higher dividend yield at 0.08%, compared with 0.01% for PTF.

What is the main difference between PTF and PRN?

PTF tracks Dorsey Wright Technology Technical Leaders Index, while PRN tracks DWA Industrials Technical Leaders Index.

Which has better risk-adjusted returns?

PTF currently has the higher Sharpe Ratio (2.34 vs 2.18), 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.