PUI vs. FXU

Last updated Aug 4, 2026

PUI (Invesco DWA Utilities Momentum ETF) and FXU (First Trust Utilities AlphaDEX Fund) are both exchange-traded funds - PUI is a Momentum fund tracking the DWA Utilities Technical Leaders Index, while FXU is a Utilities Equities fund tracking the StrataQuant Utilities Index. Both are passively managed. Over the past 10 years, PUI returned 8.12%/yr vs 8.99%/yr for FXU. Their correlation of 0.85 means they have usually moved in the same direction. PUI charges 0.60%/yr vs 0.61%/yr for FXU.

Performance

PUI vs. FXU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Utilities Momentum ETF (PUI) and First Trust Utilities AlphaDEX Fund (FXU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PUI achieves a 5.95% return, which is significantly lower than FXU's 8.60% return. Over the past 10 years, PUI has underperformed FXU with an annualized return of 8.12%, while FXU has yielded a comparatively higher 8.99% annualized return.

PUI

• 1D: 0.33%
• 1M: -3.69%
• 6M: 3.84%
• YTD: 5.95%
• 1Y: 5.25%
• 3Y*: 15.07%
• 5Y*: 8.47%
• 10Y*: 8.12%
• ALL TIME*: 8.19%

FXU

• 1D: -0.08%
• 1M: -3.04%
• 6M: 6.10%
• YTD: 8.60%
• 1Y: 10.90%
• 3Y*: 18.75%
• 5Y*: 11.94%
• 10Y*: 8.99%
• ALL TIME*: 7.71%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FXU First Trust Utilities AlphaDEX Fund	$10.89M	$11.88M	$12.41M
PUI Invesco DWA Utilities Momentum ETF	$210.08K	$1.19M	$552.46K

PUI vs. FXU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PUI Invesco DWA Utilities Momentum ETF	5.95%	15.25%	23.91%	-4.47%	-2.17%	15.02%	-5.05%	20.95%	6.12%	11.85%
FXU First Trust Utilities AlphaDEX Fund	8.60%	21.86%	22.50%	-2.12%	3.68%	17.67%	1.53%	11.67%	5.43%	0.98%

Correlation

The correlation between PUI and FXU is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since May 10, 2007	0.85

The correlation between PUI and FXU shifts across timeframes, from 0.78 (1 year) to 0.91 (5 years), reflecting how their relationship changes across market environments.

PUI vs. FXU - Sectors Allocation Comparison

Sectors	PUI	FXU
Utilities	88.7%	92.4%
Energy	8.7%	3.5%
Industrials	2.4%	4.1%
Communication Services	1.7%	-
Financial Services	0.1%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

PUI vs. FXU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PUI

PUI Risk / Return Rank: 18
PUI Sharpe Ratio Rank: 18
PUI Sortino Ratio Rank: 18
PUI Omega Ratio Rank: 17
PUI Calmar Ratio Rank: 19
PUI Martin Ratio Rank: 18

FXU

FXU Risk / Return Rank: 32
FXU Sharpe Ratio Rank: 32
FXU Sortino Ratio Rank: 30
FXU Omega Ratio Rank: 29
FXU Calmar Ratio Rank: 36
FXU Martin Ratio Rank: 33

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PUI vs. FXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Utilities Momentum ETF (PUI) and First Trust Utilities AlphaDEX Fund (FXU). 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.

	PUI	FXU	Difference
Sharpe ratio: Return per unit of total volatility	0.35	0.80	-0.45
Sortino ratio: Return per unit of downside risk	0.57	1.17	-0.60
Omega ratio: Gain probability vs. loss probability	1.07	1.14	-0.07
Calmar ratio: Return relative to maximum drawdown	0.48	1.27	-0.79
Martin ratio: Return relative to average drawdown	1.05	3.14	-2.09

PUI vs. FXU - Sharpe Ratio Comparison

The current PUI Sharpe Ratio is 0.35, which is lower than the FXU Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of PUI and FXU, 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

PUI vs. FXU - Drawdown Comparison

The maximum PUI drawdown since its inception was -43.20%, smaller than the maximum FXU drawdown of -49.00%. Use the drawdown chart below to compare losses from any high point for PUI and FXU.

Drawdown Indicators

	PUI	FXU	Difference
Max Drawdown Largest peak-to-trough decline	-43.20%	-49.00%	+5.80%
Max Drawdown (1Y) Largest decline over 1 year	-11.07%	-8.63%	-2.44%
Max Drawdown (3Y) Largest decline over 3 years	-11.31%	-12.43%	+1.12%
Max Drawdown (5Y) Largest decline over 5 years	-23.47%	-21.87%	-1.60%
Max Drawdown (10Y) Largest decline over 10 years	-35.61%	-34.81%	-0.80%
Current Drawdown Current decline from peak	-5.64%	-5.22%	-0.42%
Average Drawdown Average peak-to-trough decline	-8.42%	-7.60%	-0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.00%	3.48%	+1.52%

Volatility

PUI vs. FXU - Volatility Comparison

Invesco DWA Utilities Momentum ETF (PUI) and First Trust Utilities AlphaDEX Fund (FXU) have volatilities of 3.92% and 3.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PUI	FXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	3.94%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	11.24%	10.92%	+0.32%
Volatility (1Y) Calculated over the trailing 1-year period	15.12%	13.70%	+1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.60%	16.59%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.10%	18.38%	+0.72%

PUI vs. FXU - Expense Ratio Comparison

PUI has a 0.60% expense ratio, which is lower than FXU's 0.61% expense ratio.

Dividends

PUI vs. FXU - Dividend Comparison

PUI's dividend yield for the trailing twelve months is around 2.05%, less than FXU's 2.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXU First Trust Utilities AlphaDEX Fund	2.20%	2.29%	2.41%	2.52%	2.03%	2.00%	3.97%	2.34%	2.40%	3.81%	2.62%	3.90%
PUI Invesco DWA Utilities Momentum ETF	2.05%	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 FXU in my portfolio?

PUI and FXU have a correlation of 0.78, 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 FXU?

FXU has higher volatility (3.94%) compared to PUI (3.92%). In terms of maximum drawdown, PUI dropped -43.20% vs FXU's -49.00%.

Which ETF is better, PUI or FXU?

On 10-year performance, FXU leads with 8.99% vs 8.12% for PUI. On fees, PUI is cheaper at 0.60% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PUI or FXU?

Over the 10-year period, FXU has performed better with a 8.99% return vs 8.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PUI or FXU?

PUI is cheaper with a 0.60% expense ratio, compared with 0.61% for FXU.

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

FXU has the higher dividend yield at 2.20%, compared with 2.05% for PUI.

What is the main difference between PUI and FXU?

PUI is categorized as Momentum, while FXU is Utilities Equities. PUI tracks DWA Utilities Technical Leaders Index, while FXU tracks StrataQuant Utilities Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.60% for PUI and 0.61% for FXU.

Which has better risk-adjusted returns?

FXU currently has the higher Sharpe Ratio (0.80 vs 0.35), 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.