PTH vs. PXI

Last updated Jul 17, 2026

PTH (Invesco DWA Healthcare Momentum ETF) and PXI (Invesco DWA Energy Momentum ETF) are both Momentum funds from Invesco - PTH tracks the Dorsey Wright Healthcare Technical Leaders Index while PXI tracks the Dorsey Wright Energy Technical Leaders Index. Both are passively managed. Over the past 10 years, PTH returned 14.57%/yr vs 5.99%/yr for PXI. At a 0.41 correlation, their price movements are largely independent. Both charge a 0.60% expense ratio.

Performance

PTH vs. PXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Healthcare Momentum ETF (PTH) and Invesco DWA Energy Momentum ETF (PXI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PTH achieves a 17.14% return, which is significantly lower than PXI's 29.33% return. Over the past 10 years, PTH has outperformed PXI with an annualized return of 14.57%, while PXI has yielded a comparatively lower 5.99% annualized return.

PTH

• 1D: -2.68%
• 1M: 12.36%
• 6M: 17.65%
• YTD: 17.14%
• 1Y: 56.88%
• 3Y*: 14.27%
• 5Y*: 2.22%
• 10Y*: 14.57%

PXI

• 1D: 0.36%
• 1M: 4.93%
• 6M: 21.82%
• YTD: 29.33%
• 1Y: 36.87%
• 3Y*: 14.84%
• 5Y*: 20.30%
• 10Y*: 5.99%

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

PTH vs. PXI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTH Invesco DWA Healthcare Momentum ETF	17.14%	27.91%	2.36%	-4.54%	-20.61%	-3.20%	67.26%	34.45%	-1.23%	50.15%
PXI Invesco DWA Energy Momentum ETF	29.33%	3.86%	0.76%	5.48%	45.85%	75.05%	-35.91%	1.67%	-27.56%	-8.42%

Correlation

The correlation between PTH and PXI is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Oct 12, 2006	0.41

The correlation between PTH and PXI shifts across timeframes, from -0.00 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.

PTH vs. PXI - Sectors Allocation Comparison

Sectors	PTH	PXI
Healthcare	93.6%	-
Financial Services	1.2%	0.3%
Basic Materials	-	4.9%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	95.1%
Industrials	-	0.9%
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PTH vs. PXI — Risk / Return Rank

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

PTH

PTH Risk / Return Rank: 86
PTH Sharpe Ratio Rank: 89
PTH Sortino Ratio Rank: 86
PTH Omega Ratio Rank: 81
PTH Calmar Ratio Rank: 92
PTH Martin Ratio Rank: 80

PXI

PXI Risk / Return Rank: 61
PXI Sharpe Ratio Rank: 63
PXI Sortino Ratio Rank: 57
PXI Omega Ratio Rank: 54
PXI Calmar Ratio Rank: 74
PXI Martin Ratio Rank: 59

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.

PTH vs. PXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Healthcare Momentum ETF (PTH) and Invesco DWA Energy Momentum ETF (PXI). 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	PXI	Difference
Sharpe ratio: Return per unit of total volatility	2.35	1.66	+0.69
Sortino ratio: Return per unit of downside risk	3.13	2.20	+0.93
Omega ratio: Gain probability vs. loss probability	1.38	1.27	+0.11
Calmar ratio: Return relative to maximum drawdown	4.77	2.99	+1.78
Martin ratio: Return relative to average drawdown	12.03	8.17	+3.86

PTH vs. PXI - Sharpe Ratio Comparison

The current PTH Sharpe Ratio is 2.35, which is higher than the PXI Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of PTH and PXI, 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

PTH vs. PXI - Drawdown Comparison

The maximum PTH drawdown since its inception was -53.52%, smaller than the maximum PXI drawdown of -85.08%. Use the drawdown chart below to compare losses from any high point for PTH and PXI.

Drawdown Indicators

	PTH	PXI	Difference
Max Drawdown Largest peak-to-trough decline	-53.52%	-85.08%	+31.56%
Max Drawdown (1Y) Largest decline over 1 year	-11.98%	-12.40%	+0.42%
Max Drawdown (3Y) Largest decline over 3 years	-27.51%	-30.74%	+3.23%
Max Drawdown (5Y) Largest decline over 5 years	-50.07%	-33.47%	-16.60%
Max Drawdown (10Y) Largest decline over 10 years	-53.52%	-79.55%	+26.03%
Current Drawdown Current decline from peak	-5.60%	-5.78%	+0.18%
Average Drawdown Average peak-to-trough decline	-16.95%	-29.31%	+12.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.74%	4.52%	+0.22%

Volatility

PTH vs. PXI - Volatility Comparison

Invesco DWA Healthcare Momentum ETF (PTH) has a higher volatility of 7.37% compared to Invesco DWA Energy Momentum ETF (PXI) at 6.64%. This indicates that PTH's price experiences larger fluctuations and is considered to be riskier than PXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTH	PXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.37%	6.64%	+0.73%
Volatility (6M) Calculated over the trailing 6-month period	19.37%	17.57%	+1.80%
Volatility (1Y) Calculated over the trailing 1-year period	24.34%	22.32%	+2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.68%	33.07%	-7.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.33%	36.97%	-9.64%

PTH vs. PXI - Expense Ratio Comparison

Both PTH and PXI have an expense ratio of 0.60%.

Dividends

PTH vs. PXI - Dividend Comparison

PTH's dividend yield for the trailing twelve months is around 2.62%, more than PXI's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PTH Invesco DWA Healthcare Momentum ETF	2.62%	3.07%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PXI Invesco DWA Energy Momentum ETF	1.27%	1.81%	1.52%	1.82%	3.14%	0.57%	1.72%	2.80%	0.93%	0.80%	0.73%	2.07%

Frequently Asked Questions

Can I hold both PTH and PXI in my portfolio?

PTH and PXI have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTH or PXI?

PTH has higher volatility (7.37%) compared to PXI (6.64%). In terms of maximum drawdown, PTH dropped -53.52% vs PXI's -85.08%.

Which ETF is better, PTH or PXI?

On 10-year performance, PTH leads with 14.57% vs 5.99% for PXI. Both ETFs have the same 0.60% expense ratio. On volatility, PXI has been the lower-risk option at 6.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTH or PXI?

Over the 10-year period, PTH has performed better with a 14.57% return vs 5.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTH or PXI?

PTH and PXI have the same expense ratio: 0.60% per year.

Which ETF pays a higher dividend yield, PTH or PXI?

PTH has the higher dividend yield at 2.62%, compared with 1.27% for PXI.

What is the main difference between PTH and PXI?

PTH tracks Dorsey Wright Healthcare Technical Leaders Index, while PXI tracks Dorsey Wright Energy Technical Leaders Index.

Which has better risk-adjusted returns?

PTH currently has the higher Sharpe Ratio (2.35 vs 1.66), 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.