PTF vs. USSPX

Last updated Jun 3, 2026

PTF (Invesco DWA Technology Momentum ETF) and USSPX (USAA 500 Index Fund) are both funds - PTF is a Momentum fund tracking the DWA Technology Technical Leaders Index, while USSPX is a Large Cap Blend Equities fund managed by Victory. Over the past 10 years, PTF returned 26.90%/yr vs 15.56%/yr for USSPX. A 0.76 correlation means they provide meaningful diversification when combined. PTF charges 0.60%/yr vs 0.24%/yr for USSPX.

Performance

PTF vs. USSPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Technology Momentum ETF (PTF) and USAA 500 Index Fund (USSPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PTF achieves a 77.10% return, which is significantly higher than USSPX's 11.70% return. Over the past 10 years, PTF has outperformed USSPX with an annualized return of 26.90%, while USSPX has yielded a comparatively lower 15.56% annualized return.

PTF

• 1D: 3.82%
• 1M: 18.91%
• YTD: 77.10%
• 6M: 76.93%
• 1Y: 109.42%
• 3Y*: 43.15%
• 5Y*: 24.41%
• 10Y*: 26.90%

USSPX

• 1D: 0.30%
• 1M: 5.36%
• YTD: 11.70%
• 6M: 11.90%
• 1Y: 29.32%
• 3Y*: 22.79%
• 5Y*: 13.92%
• 10Y*: 15.56%

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

PTF vs. USSPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTF Invesco DWA Technology Momentum ETF	77.10%	5.68%	43.65%	33.73%	-31.75%	18.10%	82.06%	46.71%	0.01%	32.07%
USSPX USAA 500 Index Fund	11.70%	17.63%	25.04%	26.99%	-19.37%	27.45%	21.21%	31.19%	-4.66%	21.19%

Correlation

The correlation between PTF and USSPX is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Oct 13, 2006	0.76

The correlation between PTF and USSPX has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.

Return for Risk

PTF vs. USSPX — Risk / Return Rank

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

PTF

PTF Risk / Return Rank: 82
PTF Sharpe Ratio Rank: 86
PTF Sortino Ratio Rank: 68
PTF Omega Ratio Rank: 72
PTF Calmar Ratio Rank: 92
PTF Martin Ratio Rank: 93

USSPX

USSPX Risk / Return Rank: 73
USSPX Sharpe Ratio Rank: 75
USSPX Sortino Ratio Rank: 66
USSPX Omega Ratio Rank: 66
USSPX Calmar Ratio Rank: 73
USSPX Martin Ratio Rank: 82

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. USSPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Technology Momentum ETF (PTF) and USAA 500 Index Fund (USSPX). 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.

	PTF	USSPX	Difference
Sharpe ratio Return per unit of total volatility	2.87	2.51	+0.35
Sortino ratio Return per unit of downside risk	3.16	3.41	-0.25
Omega ratio Gain probability vs. loss probability	1.44	1.45	-0.02
Calmar ratio Return relative to maximum drawdown	6.22	3.36	+2.86
Martin ratio Return relative to average drawdown	24.81	15.60	+9.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PTF vs. USSPX - Sharpe Ratio Comparison

The current PTF Sharpe Ratio is 2.87, which is comparable to the USSPX Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of PTF and USSPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PTF	USSPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.87	2.51	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.80	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.85	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.54	-0.01

Drawdowns

PTF vs. USSPX - Drawdown Comparison

The maximum PTF drawdown since its inception was -55.38%, roughly equal to the maximum USSPX drawdown of -55.39%. Use the drawdown chart below to compare losses from any high point for PTF and USSPX.

Drawdown Indicators

	PTF	USSPX	Difference
Max Drawdown Largest peak-to-trough decline	-55.38%	-55.39%	+0.01%
Max Drawdown (1Y) Largest decline over 1 year	-17.99%	-8.92%	-9.07%
Max Drawdown (3Y) Largest decline over 3 years	-36.11%	-19.64%	-16.47%
Max Drawdown (5Y) Largest decline over 5 years	-44.88%	-26.88%	-18.00%
Max Drawdown (10Y) Largest decline over 10 years	-44.88%	-33.64%	-11.24%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-13.28%	-10.13%	-3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.51%	1.92%	+2.59%

Volatility

PTF vs. USSPX - Volatility Comparison

Invesco DWA Technology Momentum ETF (PTF) has a higher volatility of 13.27% compared to USAA 500 Index Fund (USSPX) at 2.83%. This indicates that PTF's price experiences larger fluctuations and is considered to be riskier than USSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTF	USSPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.27%	2.83%	+10.44%
Volatility (6M) Calculated over the trailing 6-month period	29.64%	9.05%	+20.59%
Volatility (1Y) Calculated over the trailing 1-year period	38.40%	11.97%	+26.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.96%	17.49%	+17.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.95%	18.36%	+14.59%

PTF vs. USSPX - Expense Ratio Comparison

PTF has a 0.60% expense ratio, which is higher than USSPX's 0.24% expense ratio.

Dividends

PTF vs. USSPX - Dividend Comparison

PTF's dividend yield for the trailing twelve months is around 0.01%, less than USSPX's 3.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
USSPX USAA 500 Index Fund	3.72%	4.14%	3.63%	2.07%	2.81%	4.98%	3.38%	4.98%	3.03%	1.34%	2.34%	1.89%

Frequently Asked Questions

Can I hold both PTF and USSPX in my portfolio?

PTF and USSPX have a correlation of 0.72, 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 USSPX?

PTF has higher volatility (13.27%) compared to USSPX (2.83%). In terms of maximum drawdown, PTF dropped -55.38% vs USSPX's -55.39%.

Which has better risk-adjusted returns?

PTF currently has the higher Sharpe Ratio (2.87 vs 2.51), 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.