PUI vs. BRLN

Last updated Jun 3, 2026

PUI (Invesco DWA Utilities Momentum ETF) and BRLN (BlackRock Floating Rate Loan ETF) are both exchange-traded funds - PUI is a Momentum fund tracking the DWA Utilities Technical Leaders Index, while BRLN is a Bank Loan fund actively managed by BlackRock. PUI is passively managed, while BRLN is actively managed. Over the past 3 years, PUI returned 15.43%/yr vs 7.43%/yr for BRLN. At a 0.05 correlation, their price movements are largely independent. PUI charges 0.60%/yr vs 0.55%/yr for BRLN.

Performance

PUI vs. BRLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Utilities Momentum ETF (PUI) and BlackRock Floating Rate Loan ETF (BRLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PUI achieves a 6.82% return, which is significantly higher than BRLN's 1.56% return.

PUI

• 1D: 1.81%
• 1M: -4.23%
• YTD: 6.82%
• 6M: 4.11%
• 1Y: 12.64%
• 3Y*: 15.43%
• 5Y*: 8.61%
• 10Y*: 8.38%

BRLN

• 1D: 0.17%
• 1M: 1.38%
• YTD: 1.56%
• 6M: 2.30%
• 1Y: 5.30%
• 3Y*: 7.43%
• 5Y*: —
• 10Y*: —

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

PUI vs. BRLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PUI Invesco DWA Utilities Momentum ETF	6.82%	15.25%	23.91%	-4.47%	6.78%
BRLN BlackRock Floating Rate Loan ETF	1.56%	5.38%	7.49%	13.42%	2.13%

Correlation

The correlation between PUI and BRLN is -0.10, 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	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (All Time) Calculated using the full available price history since Oct 7, 2022	0.05

The correlation between PUI and BRLN shifts across timeframes, from -0.10 (1 year) to 0.06 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PUI vs. BRLN — Risk / Return Rank

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

PUI

PUI Risk / Return Rank: 23
PUI Sharpe Ratio Rank: 24
PUI Sortino Ratio Rank: 23
PUI Omega Ratio Rank: 22
PUI Calmar Ratio Rank: 24
PUI Martin Ratio Rank: 21

BRLN

BRLN Risk / Return Rank: 56
BRLN Sharpe Ratio Rank: 50
BRLN Sortino Ratio Rank: 56
BRLN Omega Ratio Rank: 54
BRLN Calmar Ratio Rank: 57
BRLN Martin Ratio Rank: 61

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.

PUI vs. BRLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Utilities Momentum ETF (PUI) and BlackRock Floating Rate Loan ETF (BRLN). 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.

	PUI	BRLN	Difference
Sharpe ratio Return per unit of total volatility	0.85	1.74	-0.90
Sortino ratio Return per unit of downside risk	1.22	2.71	-1.49
Omega ratio Gain probability vs. loss probability	1.15	1.34	-0.19
Calmar ratio Return relative to maximum drawdown	1.15	2.89	-1.74
Martin ratio Return relative to average drawdown	2.67	11.26	-8.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PUI vs. BRLN - Sharpe Ratio Comparison

The current PUI Sharpe Ratio is 0.85, which is lower than the BRLN Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of PUI and BRLN, 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

	PUI	BRLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	1.74	-0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	2.21	-1.76

Drawdowns

PUI vs. BRLN - Drawdown Comparison

The maximum PUI drawdown since its inception was -43.20%, which is greater than BRLN's maximum drawdown of -3.85%. Use the drawdown chart below to compare losses from any high point for PUI and BRLN.

Drawdown Indicators

	PUI	BRLN	Difference
Max Drawdown Largest peak-to-trough decline	-43.20%	-3.85%	-39.35%
Max Drawdown (1Y) Largest decline over 1 year	-11.07%	-2.00%	-9.07%
Max Drawdown (3Y) Largest decline over 3 years	-15.28%	-3.85%	-11.43%
Max Drawdown (5Y) Largest decline over 5 years	-23.47%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.61%	—	—
Current Drawdown Current decline from peak	-4.86%	0.00%	-4.86%
Average Drawdown Average peak-to-trough decline	-8.46%	-0.31%	-8.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.75%	0.51%	+4.24%

Volatility

PUI vs. BRLN - Volatility Comparison

Invesco DWA Utilities Momentum ETF (PUI) has a higher volatility of 5.31% compared to BlackRock Floating Rate Loan ETF (BRLN) at 0.78%. This indicates that PUI's price experiences larger fluctuations and is considered to be riskier than BRLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PUI	BRLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	0.78%	+4.53%
Volatility (6M) Calculated over the trailing 6-month period	11.34%	2.23%	+9.11%
Volatility (1Y) Calculated over the trailing 1-year period	14.95%	3.08%	+11.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.67%	3.73%	+12.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.07%	3.73%	+15.34%

PUI vs. BRLN - Expense Ratio Comparison

PUI has a 0.60% expense ratio, which is higher than BRLN's 0.55% expense ratio.

Dividends

PUI vs. BRLN - Dividend Comparison

PUI's dividend yield for the trailing twelve months is around 2.10%, less than BRLN's 6.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRLN BlackRock Floating Rate Loan ETF	6.34%	6.50%	7.87%	9.06%	1.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PUI Invesco DWA Utilities Momentum ETF	2.10%	2.22%	2.06%	2.36%	2.16%	2.03%	2.42%	2.02%	1.87%	2.98%	3.35%	2.82%

Frequently Asked Questions

Can I hold both PUI and BRLN in my portfolio?

PUI and BRLN have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PUI or BRLN?

PUI has higher volatility (5.31%) compared to BRLN (0.78%). In terms of maximum drawdown, PUI dropped -43.20% vs BRLN's -3.85%.

Which ETF is better, PUI or BRLN?

On 3-year performance, PUI leads with 15.43% vs 7.43% for BRLN. On fees, BRLN is cheaper at 0.55% per year. On volatility, BRLN has been the lower-risk option at 0.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PUI or BRLN?

Over the 3-year period, PUI has performed better with a 15.43% return vs 7.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PUI or BRLN?

BRLN is cheaper with a 0.55% expense ratio, compared with 0.60% for PUI.

Which ETF pays a higher dividend yield, PUI or BRLN?

BRLN has the higher dividend yield at 6.34%, compared with 2.10% for PUI.

What is the main difference between PUI and BRLN?

PUI is categorized as Momentum, while BRLN is Bank Loan. They also come from different issuers: Invesco and BlackRock. Their fees differ too: 0.60% for PUI and 0.55% for BRLN.

Which has better risk-adjusted returns?

BRLN currently has the higher Sharpe Ratio (1.74 vs 0.85), 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.