PTH vs. COMB
PTH (Invesco DWA Healthcare Momentum ETF) and COMB (GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF) are both exchange-traded funds - PTH is a Momentum fund tracking the Dorsey Wright Healthcare Technical Leaders Index, while COMB is a Commodities fund actively managed by GraniteShares. PTH is passively managed, while COMB is actively managed. Over the past 5 years, PTH returned 1.95%/yr vs 9.83%/yr for COMB. At a 0.13 correlation, their price movements are largely independent. PTH charges 0.60%/yr vs 0.25%/yr for COMB.
Performance
PTH vs. COMB - Performance Comparison
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Returns By Period
In the year-to-date period, PTH achieves a 20.52% return, which is significantly higher than COMB's 17.53% return.
PTH
- 1D
- -2.87%
- 1M
- 15.97%
- 6M
- 20.83%
- YTD
- 20.52%
- 1Y
- 62.60%
- 3Y*
- 15.54%
- 5Y*
- 1.95%
- 10Y*
- 14.82%
COMB
- 1D
- 0.00%
- 1M
- -1.59%
- 6M
- 14.82%
- YTD
- 17.53%
- 1Y
- 25.91%
- 3Y*
- 11.95%
- 5Y*
- 9.83%
- 10Y*
- —
PTH vs. COMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PTH Invesco DWA Healthcare Momentum ETF | 20.52% | 27.91% | 2.36% | -4.54% | -20.61% | -3.20% | 67.26% | 34.45% | -1.23% | 33.50% |
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 17.53% | 15.12% | 5.24% | -7.75% | 14.56% | 26.34% | -2.95% | 7.02% | -11.41% | 4.98% |
Correlation
The correlation between PTH and COMB is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since May 24, 2017 | 0.13 |
The correlation between PTH and COMB shifts across timeframes, from -0.16 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PTH vs. COMB — Risk / Return Rank
PTH
COMB
PTH vs. COMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Healthcare Momentum ETF (PTH) and GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB). 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.
| PTH | COMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.28 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 5.05 | 1.82 | +3.22 |
| Martin ratioReturn relative to average drawdown | 12.79 | 6.14 | +6.65 |
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Drawdowns
PTH vs. COMB - Drawdown Comparison
The maximum PTH drawdown since its inception was -53.52%, which is greater than COMB's maximum drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for PTH and COMB.
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Drawdown Indicators
| PTH | COMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.52% | -33.50% | -20.02% |
Max Drawdown (1Y)Largest decline over 1 year | -11.98% | -14.84% | +2.86% |
Max Drawdown (3Y)Largest decline over 3 years | -27.74% | -14.84% | -12.90% |
Max Drawdown (5Y)Largest decline over 5 years | -50.07% | -26.63% | -23.44% |
Max Drawdown (10Y)Largest decline over 10 years | -53.52% | — | — |
Current DrawdownCurrent decline from peak | -2.87% | -11.35% | +8.48% |
Average DrawdownAverage peak-to-trough decline | -16.96% | -12.05% | -4.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.72% | 4.40% | +0.32% |
Volatility
PTH vs. COMB - Volatility Comparison
Invesco DWA Healthcare Momentum ETF (PTH) has a higher volatility of 7.20% compared to GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) at 4.24%. This indicates that PTH's price experiences larger fluctuations and is considered to be riskier than COMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PTH | COMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.20% | 4.24% | +2.96% |
Volatility (6M)Calculated over the trailing 6-month period | 19.15% | 15.09% | +4.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.24% | 17.38% | +6.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.64% | 16.69% | +8.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.31% | 15.15% | +12.16% |
PTH vs. COMB - Expense Ratio Comparison
PTH has a 0.60% expense ratio, which is higher than COMB's 0.25% expense ratio.
Dividends
PTH vs. COMB - Dividend Comparison
PTH's dividend yield for the trailing twelve months is around 2.55%, less than COMB's 7.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 7.70% | 9.05% | 2.48% | 6.57% | 30.85% | 15.83% | 0.07% | 1.48% | 0.97% | 0.20% |
PTH Invesco DWA Healthcare Momentum ETF | 2.55% | 3.07% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PTH and COMB have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTH has higher volatility (7.20%) compared to COMB (4.24%). In terms of maximum drawdown, PTH dropped -53.52% vs COMB's -33.50%.
On 5-year performance, COMB leads with 9.83% vs 1.95% for PTH. On fees, COMB is cheaper at 0.25% per year. On volatility, COMB has been the lower-risk option at 4.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, COMB has performed better with a 9.83% return vs 1.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMB is cheaper with a 0.25% expense ratio, compared with 0.60% for PTH.
COMB has the higher dividend yield at 7.70%, compared with 2.55% for PTH.
PTH is categorized as Momentum, while COMB is Commodities. They also come from different issuers: Invesco and GraniteShares. Their fees differ too: 0.60% for PTH and 0.25% for COMB.
PTH currently has the higher Sharpe Ratio (2.49 vs 1.56), 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.
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