PTF vs. SMH
Compare and contrast key facts about Invesco DWA Technology Momentum ETF (PTF) and VanEck Vectors Semiconductor ETF (SMH).
PTF and SMH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PTF is a passively managed fund by Invesco that tracks the performance of the DWA Technology Technical Leaders Index. It was launched on Oct 12, 2006. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011. Both PTF and SMH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PTF or SMH.
Key characteristics
| PTF | SMH | |
|---|---|---|
| YTD Return | 21.40% | 35.48% |
| 1Y Return | 30.85% | 57.43% |
| 3Y Return (Ann) | 5.30% | 21.61% |
| 5Y Return (Ann) | 21.38% | 34.29% |
| 10Y Return (Ann) | 18.24% | 28.25% |
| Sharpe Ratio | 1.01 | 1.72 |
| Daily Std Dev | 31.63% | 33.86% |
| Max Drawdown | -55.38% | -95.73% |
| Current Drawdown | -6.62% | -15.77% |
Correlation
The correlation between PTF and SMH is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
PTF vs. SMH - Performance Comparison
In the year-to-date period, PTF achieves a 21.40% return, which is significantly lower than SMH's 35.48% return. Over the past 10 years, PTF has underperformed SMH with an annualized return of 18.24%, while SMH has yielded a comparatively higher 28.25% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PTF vs. SMH - Expense Ratio Comparison
PTF has a 0.60% expense ratio, which is higher than SMH's 0.35% expense ratio.
Risk-Adjusted Performance
PTF vs. SMH - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Technology Momentum ETF (PTF) and VanEck Vectors Semiconductor ETF (SMH). 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.
Dividends
PTF vs. SMH - Dividend Comparison
PTF's dividend yield for the trailing twelve months is around 0.03%, less than SMH's 0.44% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PTF Invesco DWA Technology Momentum ETF | 0.03% | 0.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.08% | 0.04% | 0.26% | 0.00% | 0.68% | 0.17% |
SMH VanEck Vectors Semiconductor ETF | 0.44% | 0.60% | 2.37% | 1.02% | 1.38% | 6.00% | 3.75% | 2.85% | 1.61% | 4.28% | 2.31% | 3.11% |
Drawdowns
PTF vs. SMH - Drawdown Comparison
The maximum PTF drawdown since its inception was -55.38%, smaller than the maximum SMH drawdown of -95.73%. Use the drawdown chart below to compare losses from any high point for PTF and SMH. For additional features, visit the drawdowns tool.
Volatility
PTF vs. SMH - Volatility Comparison
Invesco DWA Technology Momentum ETF (PTF) and VanEck Vectors Semiconductor ETF (SMH) have volatilities of 13.35% and 13.30%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.