PWJZX vs. XSMO

Last updated Jun 13, 2026

PWJZX (PGIM Jennison International Opportunities Fund) and XSMO (Invesco S&P SmallCap Momentum ETF) are both funds - PWJZX is a Foreign Large Cap Equities fund managed by PGIM, while XSMO is a Momentum fund tracking the S&P SmallCap 600 Momentum Index. Over the past 10 years, PWJZX returned 12.13%/yr vs 15.17%/yr for XSMO. A 0.63 correlation means they provide meaningful diversification when combined. PWJZX charges 0.90%/yr vs 0.36%/yr for XSMO.

Performance

PWJZX vs. XSMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison International Opportunities Fund (PWJZX) and Invesco S&P SmallCap Momentum ETF (XSMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PWJZX achieves a 11.43% return, which is significantly lower than XSMO's 24.80% return. Over the past 10 years, PWJZX has underperformed XSMO with an annualized return of 12.13%, while XSMO has yielded a comparatively higher 15.17% annualized return.

PWJZX

• 1D: 7.04%
• 1M: 3.79%
• YTD: 11.43%
• 6M: 10.87%
• 1Y: 15.43%
• 3Y*: 11.74%
• 5Y*: 1.92%
• 10Y*: 12.13%

XSMO

• 1D: 1.22%
• 1M: 3.48%
• YTD: 24.80%
• 6M: 20.56%
• 1Y: 37.87%
• 3Y*: 24.32%
• 5Y*: 11.65%
• 10Y*: 15.17%

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

PWJZX vs. XSMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PWJZX PGIM Jennison International Opportunities Fund	11.43%	14.53%	6.84%	20.25%	-36.95%	13.27%	55.57%	38.16%	-12.93%	49.58%
XSMO Invesco S&P SmallCap Momentum ETF	24.80%	9.80%	17.45%	21.55%	-15.44%	19.24%	21.96%	28.65%	-3.44%	23.95%

Correlation

The correlation between PWJZX and XSMO is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.63

The correlation between PWJZX and XSMO has been stable across timeframes, ranging from 0.63 to 0.65 - a consistent structural relationship.

Return for Risk

PWJZX vs. XSMO — Risk / Return Rank

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

PWJZX

PWJZX Risk / Return Rank: 11
PWJZX Sharpe Ratio Rank: 10
PWJZX Sortino Ratio Rank: 10
PWJZX Omega Ratio Rank: 11
PWJZX Calmar Ratio Rank: 11
PWJZX Martin Ratio Rank: 12

XSMO

XSMO Risk / Return Rank: 70
XSMO Sharpe Ratio Rank: 63
XSMO Sortino Ratio Rank: 66
XSMO Omega Ratio Rank: 58
XSMO Calmar Ratio Rank: 84
XSMO Martin Ratio Rank: 80

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.

PWJZX vs. XSMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison International Opportunities Fund (PWJZX) and Invesco S&P SmallCap Momentum ETF (XSMO). 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.

	PWJZX	XSMO	Difference
Sharpe ratio: Return per unit of total volatility	0.54	1.82	-1.28
Sortino ratio: Return per unit of downside risk	0.92	2.62	-1.69
Omega ratio: Gain probability vs. loss probability	1.12	1.31	-0.19
Calmar ratio: Return relative to maximum drawdown	0.73	3.98	-3.24
Martin ratio: Return relative to average drawdown	2.57	13.44	-10.88

PWJZX vs. XSMO - Sharpe Ratio Comparison

The current PWJZX Sharpe Ratio is 0.54, which is lower than the XSMO Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of PWJZX and XSMO, 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

PWJZX vs. XSMO - Drawdown Comparison

The maximum PWJZX drawdown since its inception was -48.22%, smaller than the maximum XSMO drawdown of -58.06%. Use the drawdown chart below to compare losses from any high point for PWJZX and XSMO.

Drawdown Indicators

	PWJZX	XSMO	Difference
Max Drawdown Largest peak-to-trough decline	-48.22%	-58.06%	+9.84%
Max Drawdown (1Y) Largest decline over 1 year	-18.08%	-8.89%	-9.19%
Max Drawdown (3Y) Largest decline over 3 years	-20.18%	-24.76%	+4.58%
Max Drawdown (5Y) Largest decline over 5 years	-48.22%	-29.62%	-18.60%
Max Drawdown (10Y) Largest decline over 10 years	-48.22%	-39.39%	-8.83%
Current Drawdown Current decline from peak	-4.55%	0.00%	-4.55%
Average Drawdown Average peak-to-trough decline	-13.04%	-11.12%	-1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.16%	2.63%	+2.53%

Volatility

PWJZX vs. XSMO - Volatility Comparison

PGIM Jennison International Opportunities Fund (PWJZX) has a higher volatility of 13.70% compared to Invesco S&P SmallCap Momentum ETF (XSMO) at 7.71%. This indicates that PWJZX's price experiences larger fluctuations and is considered to be riskier than XSMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PWJZX	XSMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.70%	7.71%	+5.99%
Volatility (6M) Calculated over the trailing 6-month period	22.46%	14.99%	+7.47%
Volatility (1Y) Calculated over the trailing 1-year period	24.71%	19.42%	+5.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.77%	22.63%	+0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.30%	24.15%	-2.85%

PWJZX vs. XSMO - Expense Ratio Comparison

PWJZX has a 0.90% expense ratio, which is higher than XSMO's 0.36% expense ratio.

Dividends

PWJZX vs. XSMO - Dividend Comparison

PWJZX's dividend yield for the trailing twelve months is around 0.17%, less than XSMO's 0.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PWJZX PGIM Jennison International Opportunities Fund	0.17%	0.19%	0.07%	0.09%	0.00%	0.09%	0.00%	0.00%	0.06%	0.17%	0.24%	0.00%
XSMO Invesco S&P SmallCap Momentum ETF	0.52%	0.75%	0.63%	0.96%	1.19%	0.30%	0.82%	0.69%	0.66%	0.27%	0.30%	0.35%

Frequently Asked Questions

Can I hold both PWJZX and XSMO in my portfolio?

PWJZX and XSMO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PWJZX or XSMO?

PWJZX has higher volatility (13.70%) compared to XSMO (7.71%). In terms of maximum drawdown, PWJZX dropped -48.22% vs XSMO's -58.06%.

Which has better risk-adjusted returns?

XSMO currently has the higher Sharpe Ratio (1.82 vs 0.54), 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.