PXE vs. DGS
PXE (Invesco Dynamic Energy Exploration & Production ETF) and DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) are both exchange-traded funds - PXE is a Energy Equities fund tracking the Dynamic Energy Exploration & Production Intellidex Index, while DGS is a Emerging Markets Diversified fund tracking the WisdomTree Emerging Markets SmallCap Dividend Index. Both are passively managed. Over the past 10 years, PXE returned 8.67%/yr vs 10.14%/yr for DGS. At a 0.50 correlation, their price movements are largely independent. PXE charges 0.63%/yr vs 0.58%/yr for DGS.
Performance
PXE vs. DGS - Performance Comparison
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Returns By Period
In the year-to-date period, PXE achieves a 29.40% return, which is significantly higher than DGS's 14.94% return. Over the past 10 years, PXE has underperformed DGS with an annualized return of 8.67%, while DGS has yielded a comparatively higher 10.14% annualized return.
PXE
- 1D
- 1.23%
- 1M
- -1.79%
- YTD
- 29.40%
- 6M
- 22.73%
- 1Y
- 23.42%
- 3Y*
- 13.09%
- 5Y*
- 17.47%
- 10Y*
- 8.67%
DGS
- 1D
- 0.65%
- 1M
- 1.51%
- YTD
- 14.94%
- 6M
- 17.07%
- 1Y
- 25.61%
- 3Y*
- 15.36%
- 5Y*
- 8.06%
- 10Y*
- 10.14%
PXE vs. DGS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PXE Invesco Dynamic Energy Exploration & Production ETF | 29.40% | -2.82% | -1.86% | 7.69% | 58.32% | 94.04% | -36.76% | -1.69% | -23.35% | 1.02% |
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 14.94% | 21.18% | 1.13% | 19.08% | -12.35% | 15.33% | 4.06% | 18.90% | -16.52% | 37.47% |
Correlation
The correlation between PXE and DGS is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2007 | 0.50 |
The correlation between PXE and DGS shifts across timeframes, from -0.08 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PXE vs. DGS — Risk / Return Rank
PXE
DGS
PXE vs. DGS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Energy Exploration & Production ETF (PXE) and WisdomTree Emerging Markets SmallCap Dividend Fund (DGS). 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.
| PXE | DGS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.27 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 2.38 | -0.45 |
| Martin ratioReturn relative to average drawdown | 4.49 | 7.84 | -3.35 |
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Drawdowns
PXE vs. DGS - Drawdown Comparison
The maximum PXE drawdown since its inception was -83.99%, which is greater than DGS's maximum drawdown of -61.83%. Use the drawdown chart below to compare losses from any high point for PXE and DGS.
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Drawdown Indicators
| PXE | DGS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.99% | -61.83% | -22.16% |
Max Drawdown (1Y)Largest decline over 1 year | -13.89% | -10.06% | -3.83% |
Max Drawdown (3Y)Largest decline over 3 years | -37.65% | -19.31% | -18.34% |
Max Drawdown (5Y)Largest decline over 5 years | -37.65% | -24.86% | -12.79% |
Max Drawdown (10Y)Largest decline over 10 years | -80.17% | -44.08% | -36.09% |
Current DrawdownCurrent decline from peak | -10.49% | -1.05% | -9.44% |
Average DrawdownAverage peak-to-trough decline | -27.96% | -12.57% | -15.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.96% | 3.05% | +2.91% |
Volatility
PXE vs. DGS - Volatility Comparison
Invesco Dynamic Energy Exploration & Production ETF (PXE) has a higher volatility of 8.96% compared to WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) at 7.30%. This indicates that PXE's price experiences larger fluctuations and is considered to be riskier than DGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PXE | DGS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.96% | 7.30% | +1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 21.32% | 14.27% | +7.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.70% | 16.60% | +11.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.73% | 15.08% | +18.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.99% | 17.39% | +19.60% |
PXE vs. DGS - Expense Ratio Comparison
PXE has a 0.63% expense ratio, which is higher than DGS's 0.58% expense ratio.
Dividends
PXE vs. DGS - Dividend Comparison
PXE's dividend yield for the trailing twelve months is around 2.06%, less than DGS's 3.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 3.20% | 3.45% | 3.36% | 4.55% | 5.34% | 3.98% | 3.69% | 3.95% | 4.24% | 2.81% | 3.42% | 3.28% |
PXE Invesco Dynamic Energy Exploration & Production ETF | 2.06% | 2.98% | 2.54% | 2.78% | 3.03% | 1.86% | 4.10% | 1.70% | 1.29% | 1.54% | 6.62% | 2.58% |
Frequently Asked Questions
PXE and DGS have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PXE has higher volatility (8.96%) compared to DGS (7.30%). In terms of maximum drawdown, PXE dropped -83.99% vs DGS's -61.83%.
On 10-year performance, DGS leads with 10.14% vs 8.67% for PXE. On fees, DGS is cheaper at 0.58% per year. On volatility, DGS has been the lower-risk option at 7.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DGS has performed better with a 10.14% return vs 8.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DGS is cheaper with a 0.58% expense ratio, compared with 0.63% for PXE.
DGS has the higher dividend yield at 3.20%, compared with 2.06% for PXE.
PXE is categorized as Energy Equities, while DGS is Emerging Markets Diversified. PXE tracks Dynamic Energy Exploration & Production Intellidex Index, while DGS tracks WisdomTree Emerging Markets SmallCap Dividend Index. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.63% for PXE and 0.58% for DGS.
DGS currently has the higher Sharpe Ratio (1.44 vs 0.97), 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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