PXE vs. DVXE
PXE (Invesco Dynamic Energy Exploration & Production ETF) and DVXE (WEBs Energy XLE Defined Volatility ETF) are both Energy Equities funds - PXE tracks the Dynamic Energy Exploration & Production Intellidex Index while DVXE tracks the Syntax Defined Volatility XLE Index. Both are passively managed. Over the past year, PXE returned 40.97% vs 57.20% for DVXE. Their correlation of 0.89 means they have usually moved in the same direction. PXE charges 0.63%/yr vs 0.89%/yr for DVXE.
Performance
PXE vs. DVXE - Performance Comparison
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Returns By Period
In the year-to-date period, PXE achieves a 37.35% return, which is significantly lower than DVXE's 46.78% return.
PXE
- 1D
- -1.42%
- 1M
- 11.73%
- 6M
- 30.07%
- YTD
- 37.35%
- 1Y
- 40.97%
- 3Y*
- 9.38%
- 5Y*
- 23.28%
- 10Y*
- 9.15%
- ALL TIME*
- 6.40%
DVXE
- 1D
- -2.54%
- 1M
- 12.73%
- 6M
- 26.71%
- YTD
- 46.78%
- 1Y
- 57.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 51.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.25K | $12.70K | $16.35K | |
| $1.19M | $1.10M | $1.96M |
PXE vs. DVXE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PXE Invesco Dynamic Energy Exploration & Production ETF | 37.35% | -0.15% |
DVXE WEBs Energy XLE Defined Volatility ETF | 46.78% | 4.49% |
Correlation
The correlation between PXE and DVXE is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025 | 0.89 |
The correlation between PXE and DVXE has been stable across timeframes, ranging from 0.89 to 0.89 - a consistent structural relationship.
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Return for Risk
PXE vs. DVXE — Risk / Return Rank
PXE
DVXE
PXE vs. DVXE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Energy Exploration & Production ETF (PXE) and WEBs Energy XLE Defined Volatility ETF (DVXE). 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 | DVXE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.29 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.63 | -0.17 |
| Martin ratioReturn relative to average drawdown | 5.86 | 6.13 | -0.28 |
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Drawdowns
PXE vs. DVXE - Drawdown Comparison
The maximum PXE drawdown since its inception was -83.99%, which is greater than DVXE's maximum drawdown of -21.83%. Use the drawdown chart below to compare losses from any high point for PXE and DVXE.
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Drawdown Indicators
| PXE | DVXE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.99% | -21.83% | -62.16% |
Max Drawdown (1Y)Largest decline over 1 year | -16.70% | -21.83% | +5.13% |
Max Drawdown (3Y)Largest decline over 3 years | -37.65% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -37.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -80.17% | — | — |
Current DrawdownCurrent decline from peak | -5.00% | -10.89% | +5.89% |
Average DrawdownAverage peak-to-trough decline | -27.85% | -7.26% | -20.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.01% | 9.35% | -2.34% |
Volatility
PXE vs. DVXE - Volatility Comparison
The current volatility for Invesco Dynamic Energy Exploration & Production ETF (PXE) is 8.10%, while WEBs Energy XLE Defined Volatility ETF (DVXE) has a volatility of 8.92%. This indicates that PXE experiences smaller price fluctuations and is considered to be less risky than DVXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PXE | DVXE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.10% | 8.92% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 21.59% | 22.51% | -0.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.57% | 30.90% | -3.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.26% | 30.84% | +2.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.95% | 30.84% | +6.11% |
PXE vs. DVXE - Expense Ratio Comparison
PXE has a 0.63% expense ratio, which is lower than DVXE's 0.89% expense ratio.
Dividends
PXE vs. DVXE - Dividend Comparison
PXE's dividend yield for the trailing twelve months is around 1.74%, while DVXE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVXE WEBs Energy XLE Defined Volatility ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PXE Invesco Dynamic Energy Exploration & Production ETF | 1.74% | 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 DVXE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DVXE has higher volatility (8.92%) compared to PXE (8.10%). In terms of maximum drawdown, PXE dropped -83.99% vs DVXE's -21.83%.
On 1-year performance, DVXE leads with 57.20% vs 40.97% for PXE. On fees, PXE is cheaper at 0.63% per year. On volatility, PXE has been the lower-risk option at 8.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DVXE has performed better with a 57.20% return vs 40.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PXE is cheaper with a 0.63% expense ratio, compared with 0.89% for DVXE.
PXE has the higher dividend yield at 1.74%, compared with 0.00% for DVXE.
PXE tracks Dynamic Energy Exploration & Production Intellidex Index, while DVXE tracks Syntax Defined Volatility XLE Index. They also come from different issuers: Invesco and WEBs. Their fees differ too: 0.63% for PXE and 0.89% for DVXE.
DVXE currently has the higher Sharpe Ratio (1.86 vs 1.50), 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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