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PUI vs. ULVM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PUI vs. ULVM

Last updated Aug 2, 2026
Documentation

PUI (Invesco DWA Utilities Momentum ETF) and ULVM (VictoryShares US Value Momentum ETF) are both Momentum funds - PUI tracks the DWA Utilities Technical Leaders Index while ULVM tracks the Nasdaq Victory US Value Momentum Index. Both are passively managed. Over the past 5 years, PUI returned 8.49%/yr vs 12.55%/yr for ULVM. Their 0.52 correlation means they have sometimes moved together and sometimes differently. PUI charges 0.60%/yr vs 0.20%/yr for ULVM.

Performance

PUI vs. ULVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Utilities Momentum ETF (PUI) and VictoryShares US Value Momentum ETF (ULVM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PUI achieves a 5.60% return, which is significantly lower than ULVM's 20.05% return.

PUI

1D
-0.27%
1M
-4.01%
6M
2.49%
YTD
5.60%
1Y
4.90%
3Y*
13.99%
5Y*
8.49%
10Y*
7.81%
ALL TIME*
8.18%

ULVM

1D
-0.20%
1M
1.85%
6M
15.22%
YTD
20.05%
1Y
30.95%
3Y*
20.61%
5Y*
12.55%
10Y*
—
ALL TIME*
11.18%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

PUI

Invesco DWA Utilities Momentum ETF
$210.08K$1.19M$591.02K

ULVM

VictoryShares US Value Momentum ETF
$297.74K$260.49K$217.66K

PUI vs. ULVM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PUI
Invesco DWA Utilities Momentum ETF		5.60%15.25%23.91%-4.47%-2.17%15.02%-5.05%20.95%6.12%-2.08%
ULVM
VictoryShares US Value Momentum ETF		20.05%15.84%19.76%10.16%-9.04%31.06%3.51%22.08%-12.07%4.11%

Correlation

The correlation between PUI and ULVM is 0.52, 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.

0.52

Correlation (3Y)
Balances recent behavior with more history.

0.59

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.61

Correlation (All Time)
Calculated using the full available price history since Oct 26, 2017

0.52

The correlation between PUI and ULVM has been stable across timeframes, ranging from 0.52 to 0.61 - a consistent structural relationship.

PUI vs. ULVM - Sectors Allocation Comparison

Sectors
PUI
ULVM

Utilities

88.7%
10.4%

Energy

8.7%
4.7%

Industrials

2.4%
11.0%

Communication Services

1.7%
3.1%

Financial Services

0.1%
27.0%

Basic Materials

-

3.7%

Consumer Cyclical

-

8.0%

Consumer Defensive

-

4.7%

Healthcare

-

11.2%

Real Estate

-

7.1%

Technology

-

9.1%

Utilities

PUI
88.7%
ULVM
10.4%

Energy

PUI
8.7%
ULVM
4.7%

Industrials

PUI
2.4%
ULVM
11.0%

Communication Services

PUI
1.7%
ULVM
3.1%

Financial Services

PUI
0.1%
ULVM
27.0%

Basic Materials

PUI

-

ULVM
3.7%

Consumer Cyclical

PUI

-

ULVM
8.0%

Consumer Defensive

PUI

-

ULVM
4.7%

Healthcare

PUI

-

ULVM
11.2%

Real Estate

PUI

-

ULVM
7.1%

Technology

PUI

-

ULVM
9.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco DWA Utilities Momentum ETF

VictoryShares US Value Momentum ETF

Often compared with PUI:
PUI vs. UTESPUI vs. FXUPUI vs. VPUPUI vs. FUTYPUI vs. SPYPUI vs. GABFPUI vs. XLU
Often compared with ULVM:
ULVM vs. SPMOULVM vs. SEIVULVM vs. SPYULVM vs. JPUSULVM vs. USVMULVM vs. ONEVULVM vs. FXAIX

Return for Risk

PUI vs. ULVM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
PUI
PUI Risk / Return Rank: 1717
Overall Rank
PUI Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
PUI Sortino Ratio Rank: 1717
Sortino Ratio Rank
PUI Omega Ratio Rank: 1616
Omega Ratio Rank
PUI Calmar Ratio Rank: 1818
Calmar Ratio Rank
PUI Martin Ratio Rank: 1818
Martin Ratio Rank
ULVM
ULVM Risk / Return Rank: 9494
Overall Rank
ULVM Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
ULVM Sortino Ratio Rank: 9595
Sortino Ratio Rank
ULVM Omega Ratio Rank: 9494
Omega Ratio Rank
ULVM Calmar Ratio Rank: 9393
Calmar Ratio Rank
ULVM Martin Ratio Rank: 9595
Martin Ratio Rank
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. ULVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Utilities Momentum ETF (PUI) and VictoryShares US Value Momentum ETF (ULVM). 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.

PUIULVMDifference
Sharpe ratioReturn per unit of total volatility
0.32
2.78

-2.46

Sortino ratioReturn per unit of downside risk
0.53
3.92

-3.39

Omega ratioGain probability vs. loss probability

1.06

1.49

-0.43

Calmar ratioReturn relative to maximum drawdown

0.43

4.63

-4.20

Martin ratioReturn relative to average drawdown

0.95

19.50

-18.55

PUI vs. ULVM - Sharpe Ratio Comparison

The current PUI Sharpe Ratio is 0.32, which is lower than the ULVM Sharpe Ratio of 2.78. The chart below compares the historical Sharpe Ratios of PUI and ULVM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PUI vs. ULVM - Drawdown Comparison

The maximum PUI drawdown since its inception was -43.20%, which is greater than ULVM's maximum drawdown of -40.71%. Use the drawdown chart below to compare losses from any high point for PUI and ULVM.

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Drawdown Indicators

PUIULVMDifference

Max Drawdown

Largest peak-to-trough decline

-43.20%

-40.71%

-2.49%

Max Drawdown (1Y)

Largest decline over 1 year

-11.07%

-6.47%

-4.60%

Max Drawdown (3Y)

Largest decline over 3 years

-11.35%

-18.14%

+6.79%

Max Drawdown (5Y)

Largest decline over 5 years

-23.47%

-19.77%

-3.70%

Max Drawdown (10Y)

Largest decline over 10 years

-35.61%

—

—

Current Drawdown

Current decline from peak

-5.95%

-1.26%

-4.69%

Average Drawdown

Average peak-to-trough decline

-8.42%

-5.65%

-2.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.98%

1.53%

+3.45%

Volatility

PUI vs. ULVM - Volatility Comparison

Invesco DWA Utilities Momentum ETF (PUI) has a higher volatility of 4.20% compared to VictoryShares US Value Momentum ETF (ULVM) at 2.72%. This indicates that PUI's price experiences larger fluctuations and is considered to be riskier than ULVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PUIULVMDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.20%

2.72%

+1.48%

Volatility (6M)

Calculated over the trailing 6-month period

11.24%

8.10%

+3.14%

Volatility (1Y)

Calculated over the trailing 1-year period

15.10%

10.81%

+4.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.59%

15.39%

+1.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.09%

18.73%

+0.36%

PUI vs. ULVM - Expense Ratio Comparison

PUI has a 0.60% expense ratio, which is higher than ULVM's 0.20% expense ratio.

Dividends

PUI vs. ULVM - Dividend Comparison

PUI's dividend yield for the trailing twelve months is around 2.05%, more than ULVM's 1.62% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
ULVM
VictoryShares US Value Momentum ETF		1.62%1.81%1.57%1.94%1.91%1.36%1.51%1.88%1.67%0.38%0.00%0.00%

Frequently Asked Questions

PUI and ULVM have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PUI has higher volatility (4.20%) compared to ULVM (2.72%). In terms of maximum drawdown, PUI dropped -43.20% vs ULVM's -40.71%.

On 5-year performance, ULVM leads with 12.55% vs 8.49% for PUI. On fees, ULVM is cheaper at 0.20% per year. On volatility, ULVM has been the lower-risk option at 2.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, ULVM has performed better with a 12.55% return vs 8.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ULVM is cheaper with a 0.20% expense ratio, compared with 0.60% for PUI.

PUI has the higher dividend yield at 2.05%, compared with 1.62% for ULVM.

PUI tracks DWA Utilities Technical Leaders Index, while ULVM tracks Nasdaq Victory US Value Momentum Index. They also come from different issuers: Invesco and Victory. Their fees differ too: 0.60% for PUI and 0.20% for ULVM.

ULVM currently has the higher Sharpe Ratio (2.78 vs 0.32), 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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