PTF vs. USVM

Last updated Jul 16, 2026

PTF (Invesco Dorsey Wright Technology Momentum ETF) and USVM (VictoryShares US Small Mid Cap Value Momentum ETF) are both Momentum funds - PTF tracks the Dorsey Wright Technology Technical Leaders Index while USVM tracks the Nasdaq Victory US Small Mid Cap Value Momentum Index. Both are passively managed. Over the past 5 years, PTF returned 18.13%/yr vs 11.92%/yr for USVM. A 0.66 correlation means they provide meaningful diversification when combined. PTF charges 0.60%/yr vs 0.29%/yr for USVM.

Performance

PTF vs. USVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dorsey Wright Technology Momentum ETF (PTF) and VictoryShares US Small Mid Cap Value Momentum ETF (USVM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PTF achieves a 42.26% return, which is significantly higher than USVM's 20.98% return.

PTF

• 1D: -3.81%
• 1M: -20.00%
• 6M: 31.78%
• YTD: 42.26%
• 1Y: 60.82%
• 3Y*: 29.39%
• 5Y*: 18.13%
• 10Y*: 23.75%

USVM

• 1D: 0.52%
• 1M: 1.87%
• 6M: 14.83%
• YTD: 20.98%
• 1Y: 33.64%
• 3Y*: 19.45%
• 5Y*: 11.92%
• 10Y*: —

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

PTF vs. USVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTF Invesco Dorsey Wright Technology Momentum ETF	42.26%	5.68%	43.65%	33.73%	-31.75%	18.10%	82.06%	46.71%	0.01%	0.67%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	20.98%	10.56%	16.59%	18.90%	-13.23%	24.44%	11.56%	21.65%	-9.39%	2.06%

Correlation

The correlation between PTF and USVM is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017	0.66

The correlation between PTF and USVM shifts across timeframes, from 0.55 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.

PTF vs. USVM - Sectors Allocation Comparison

Sectors	PTF	USVM
Technology	93.8%	8.7%
Communication Services	4.7%	3.0%
Industrials	1.8%	10.6%
Energy	1.6%	5.1%
Financial Services	1.5%	25.1%
Basic Materials	-	1.7%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	3.7%
Healthcare	-	12.8%
Real Estate	-	9.6%
Utilities	-	7.4%

Return for Risk

PTF vs. USVM — Risk / Return Rank

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

PTF

PTF Risk / Return Rank: 55
PTF Sharpe Ratio Rank: 47
PTF Sortino Ratio Rank: 42
PTF Omega Ratio Rank: 46
PTF Calmar Ratio Rank: 70
PTF Martin Ratio Rank: 70

USVM

USVM Risk / Return Rank: 88
USVM Sharpe Ratio Rank: 88
USVM Sortino Ratio Rank: 90
USVM Omega Ratio Rank: 85
USVM Calmar Ratio Rank: 88
USVM Martin Ratio Rank: 89

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. USVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dorsey Wright Technology Momentum ETF (PTF) and VictoryShares US Small Mid Cap Value Momentum ETF (USVM). 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	USVM	Difference
Sharpe ratio: Return per unit of total volatility	1.34	2.31	-0.97
Sortino ratio: Return per unit of downside risk	1.77	3.37	-1.60
Omega ratio: Gain probability vs. loss probability	1.24	1.40	-0.16
Calmar ratio: Return relative to maximum drawdown	2.80	4.04	-1.25
Martin ratio: Return relative to average drawdown	10.19	15.31	-5.12

PTF vs. USVM - Sharpe Ratio Comparison

The current PTF Sharpe Ratio is 1.34, which is lower than the USVM Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of PTF and USVM, 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. USVM - Drawdown Comparison

The maximum PTF drawdown since its inception was -55.38%, which is greater than USVM's maximum drawdown of -42.38%. Use the drawdown chart below to compare losses from any high point for PTF and USVM.

Drawdown Indicators

	PTF	USVM	Difference
Max Drawdown Largest peak-to-trough decline	-55.38%	-42.38%	-13.00%
Max Drawdown (1Y) Largest decline over 1 year	-21.86%	-8.36%	-13.50%
Max Drawdown (3Y) Largest decline over 3 years	-36.11%	-24.34%	-11.77%
Max Drawdown (5Y) Largest decline over 5 years	-44.88%	-25.27%	-19.61%
Max Drawdown (10Y) Largest decline over 10 years	-44.88%	—	—
Current Drawdown Current decline from peak	-21.36%	-0.24%	-21.12%
Average Drawdown Average peak-to-trough decline	-13.25%	-7.80%	-5.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.99%	2.20%	+3.79%

Volatility

PTF vs. USVM - Volatility Comparison

Invesco Dorsey Wright Technology Momentum ETF (PTF) has a higher volatility of 22.58% compared to VictoryShares US Small Mid Cap Value Momentum ETF (USVM) at 2.81%. This indicates that PTF's price experiences larger fluctuations and is considered to be riskier than USVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTF	USVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.58%	2.81%	+19.77%
Volatility (6M) Calculated over the trailing 6-month period	37.35%	10.85%	+26.50%
Volatility (1Y) Calculated over the trailing 1-year period	45.58%	14.80%	+30.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.62%	19.56%	+17.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.83%	21.90%	+11.93%

PTF vs. USVM - Expense Ratio Comparison

PTF has a 0.60% expense ratio, which is higher than USVM's 0.29% expense ratio.

Dividends

PTF vs. USVM - Dividend Comparison

PTF's dividend yield for the trailing twelve months is around 0.01%, less than USVM's 1.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	1.82%	1.84%	1.75%	1.63%	1.43%	0.70%	1.21%	1.77%	1.43%	0.65%	0.00%

Frequently Asked Questions

Can I hold both PTF and USVM in my portfolio?

PTF and USVM have a correlation of 0.55, 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 USVM?

PTF has higher volatility (22.58%) compared to USVM (2.81%). In terms of maximum drawdown, PTF dropped -55.38% vs USVM's -42.38%.

Which ETF is better, PTF or USVM?

On 5-year performance, PTF leads with 18.13% vs 11.92% for USVM. On fees, USVM is cheaper at 0.29% per year. On volatility, USVM has been the lower-risk option at 2.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTF or USVM?

Over the 5-year period, PTF has performed better with a 18.13% return vs 11.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTF or USVM?

USVM is cheaper with a 0.29% expense ratio, compared with 0.60% for PTF.

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

USVM has the higher dividend yield at 1.82%, compared with 0.01% for PTF.

What is the main difference between PTF and USVM?

PTF tracks Dorsey Wright Technology Technical Leaders Index, while USVM tracks Nasdaq Victory US Small Mid Cap Value Momentum Index. They also come from different issuers: Invesco and Victory Capital. Their fees differ too: 0.60% for PTF and 0.29% for USVM.

Which has better risk-adjusted returns?

USVM currently has the higher Sharpe Ratio (2.31 vs 1.34), 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.