PUI vs. PRN

Last updated Jun 3, 2026

PUI (Invesco DWA Utilities Momentum ETF) and PRN (Invesco DWA Industrials Momentum ETF) are both Momentum funds from Invesco - PUI tracks the DWA Utilities Technical Leaders Index while PRN tracks the DWA Industrials Technical Leaders Index. Both are passively managed. Over the past 10 years, PUI returned 8.38%/yr vs 18.51%/yr for PRN. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

PUI vs. PRN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Utilities Momentum ETF (PUI) and Invesco DWA Industrials Momentum ETF (PRN). 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 lower than PRN's 41.80% return. Over the past 10 years, PUI has underperformed PRN with an annualized return of 8.38%, while PRN has yielded a comparatively higher 18.51% annualized 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%

PRN

• 1D: 0.59%
• 1M: 6.86%
• YTD: 41.80%
• 6M: 45.38%
• 1Y: 65.12%
• 3Y*: 36.96%
• 5Y*: 20.18%
• 10Y*: 18.51%

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

PUI vs. PRN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PUI Invesco DWA Utilities Momentum ETF	6.82%	15.25%	23.91%	-4.47%	-2.17%	15.02%	-5.05%	20.95%	6.12%	11.85%
PRN Invesco DWA Industrials Momentum ETF	41.80%	13.74%	30.35%	37.96%	-25.09%	25.21%	36.39%	34.52%	-16.19%	22.82%

Correlation

The correlation between PUI and PRN is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Oct 13, 2006	0.51

The correlation between PUI and PRN shifts across timeframes, from 0.41 (10 years) to 0.59 (1 year), reflecting how their relationship changes across market environments.

PUI vs. PRN - Sectors Allocation Comparison

Sectors	PUI	PRN
Utilities	77.6%	-
Energy	10.5%	1.6%
Industrials	9.8%	79.3%
Communication Services	2.1%	-
Financial Services	0.1%	0.1%
Basic Materials	-	1.8%
Consumer Cyclical	-	1.2%
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	19.4%

Return for Risk

PUI vs. PRN — 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

PRN

PRN Risk / Return Rank: 70
PRN Sharpe Ratio Rank: 68
PRN Sortino Ratio Rank: 60
PRN Omega Ratio Rank: 60
PRN Calmar Ratio Rank: 84
PRN Martin Ratio Rank: 78

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. PRN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Utilities Momentum ETF (PUI) and Invesco DWA Industrials Momentum ETF (PRN). 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	PRN	Difference
Sharpe ratio Return per unit of total volatility	0.85	2.29	-1.44
Sortino ratio Return per unit of downside risk	1.22	2.86	-1.64
Omega ratio Gain probability vs. loss probability	1.15	1.37	-0.23
Calmar ratio Return relative to maximum drawdown	1.15	4.63	-3.48
Martin ratio Return relative to average drawdown	2.67	15.45	-12.77
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. PRN - Sharpe Ratio Comparison

The current PUI Sharpe Ratio is 0.85, which is lower than the PRN Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of PUI and PRN, 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	PRN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	2.29	-1.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.81	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.77	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.52	-0.07

Drawdowns

PUI vs. PRN - Drawdown Comparison

The maximum PUI drawdown since its inception was -43.20%, smaller than the maximum PRN drawdown of -59.88%. Use the drawdown chart below to compare losses from any high point for PUI and PRN.

Drawdown Indicators

	PUI	PRN	Difference
Max Drawdown Largest peak-to-trough decline	-43.20%	-59.88%	+16.68%
Max Drawdown (1Y) Largest decline over 1 year	-11.07%	-14.15%	+3.08%
Max Drawdown (3Y) Largest decline over 3 years	-15.28%	-30.78%	+15.50%
Max Drawdown (5Y) Largest decline over 5 years	-23.47%	-34.84%	+11.37%
Max Drawdown (10Y) Largest decline over 10 years	-35.61%	-36.27%	+0.66%
Current Drawdown Current decline from peak	-4.86%	-0.47%	-4.39%
Average Drawdown Average peak-to-trough decline	-8.46%	-10.84%	+2.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.75%	4.23%	+0.52%

Volatility

PUI vs. PRN - Volatility Comparison

The current volatility for Invesco DWA Utilities Momentum ETF (PUI) is 5.31%, while Invesco DWA Industrials Momentum ETF (PRN) has a volatility of 10.95%. This indicates that PUI experiences smaller price fluctuations and is considered to be less risky than PRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PUI	PRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	10.95%	-5.64%
Volatility (6M) Calculated over the trailing 6-month period	11.34%	23.22%	-11.88%
Volatility (1Y) Calculated over the trailing 1-year period	14.95%	28.66%	-13.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.67%	25.03%	-8.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.07%	24.17%	-5.10%

PUI vs. PRN - Expense Ratio Comparison

Both PUI and PRN have an expense ratio of 0.60%.

Dividends

PUI vs. PRN - Dividend Comparison

PUI's dividend yield for the trailing twelve months is around 2.10%, more than PRN's 0.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRN Invesco DWA Industrials Momentum ETF	0.11%	0.17%	0.39%	0.52%	0.82%	0.11%	0.10%	0.42%	0.29%	0.60%	0.57%	0.44%
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 PRN in my portfolio?

PUI and PRN have a correlation of 0.59, 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 PRN?

PRN has higher volatility (10.95%) compared to PUI (5.31%). In terms of maximum drawdown, PUI dropped -43.20% vs PRN's -59.88%.

Which ETF is better, PUI or PRN?

On 10-year performance, PRN leads with 18.51% vs 8.38% for PUI. Both ETFs have the same 0.60% expense ratio. On volatility, PUI has been the lower-risk option at 5.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PUI or PRN?

Over the 10-year period, PRN has performed better with a 18.51% return vs 8.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PUI or PRN?

PUI and PRN have the same expense ratio: 0.60% per year.

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

PUI has the higher dividend yield at 2.10%, compared with 0.11% for PRN.

What is the main difference between PUI and PRN?

PUI tracks DWA Utilities Technical Leaders Index, while PRN tracks DWA Industrials Technical Leaders Index.

Which has better risk-adjusted returns?

PRN currently has the higher Sharpe Ratio (2.29 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.