PXE vs. IGE
PXE (Invesco Dynamic Energy Exploration & Production ETF) and IGE (iShares North American Natural Resources ETF) are both Energy Equities funds - PXE tracks the Dynamic Energy Exploration & Production Intellidex Index while IGE tracks the S&P North American Natural Resources Sector Index. Both are passively managed. Over the past 10 years, PXE returned 8.16%/yr vs 9.09%/yr for IGE. Their correlation of 0.91 suggests significant overlap in exposure. PXE charges 0.63%/yr vs 0.39%/yr for IGE.
Performance
PXE vs. IGE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PXE achieves a 22.92% return, which is significantly higher than IGE's 15.54% return. Over the past 10 years, PXE has underperformed IGE with an annualized return of 8.16%, while IGE has yielded a comparatively higher 9.09% annualized return.
PXE
- 1D
- 0.26%
- 1M
- -8.41%
- YTD
- 22.92%
- 6M
- 22.87%
- 1Y
- 20.91%
- 3Y*
- 11.92%
- 5Y*
- 15.82%
- 10Y*
- 8.16%
IGE
- 1D
- -0.66%
- 1M
- -6.23%
- YTD
- 15.54%
- 6M
- 14.58%
- 1Y
- 31.93%
- 3Y*
- 18.55%
- 5Y*
- 16.34%
- 10Y*
- 9.09%
PXE vs. IGE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PXE Invesco Dynamic Energy Exploration & Production ETF | 22.92% | -2.82% | -1.86% | 7.69% | 58.32% | 94.04% | -36.76% | -1.69% | -23.35% | 1.02% |
IGE iShares North American Natural Resources ETF | 15.54% | 20.41% | 7.55% | 3.12% | 33.24% | 39.42% | -19.58% | 17.16% | -21.59% | 0.82% |
Correlation
The correlation between PXE and IGE is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2005 | 0.91 |
Over the past year, the correlation between PXE and IGE has dropped to 0.69 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PXE vs. IGE — Risk / Return Rank
PXE
IGE
PXE vs. IGE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Energy Exploration & Production ETF (PXE) and iShares North American Natural Resources ETF (IGE). 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 | IGE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.33 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 3.65 | -2.39 |
| Martin ratioReturn relative to average drawdown | 3.36 | 11.94 | -8.58 |
Loading charts...
Drawdowns
PXE vs. IGE - Drawdown Comparison
The maximum PXE drawdown since its inception was -83.99%, which is greater than IGE's maximum drawdown of -67.55%. Use the drawdown chart below to compare losses from any high point for PXE and IGE.
Loading charts...
Drawdown Indicators
| PXE | IGE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.99% | -67.55% | -16.44% |
Max Drawdown (1Y)Largest decline over 1 year | -16.70% | -8.80% | -7.90% |
Max Drawdown (3Y)Largest decline over 3 years | -37.65% | -19.49% | -18.16% |
Max Drawdown (5Y)Largest decline over 5 years | -37.65% | -25.72% | -11.93% |
Max Drawdown (10Y)Largest decline over 10 years | -80.17% | -60.57% | -19.60% |
Current DrawdownCurrent decline from peak | -14.98% | -8.73% | -6.25% |
Average DrawdownAverage peak-to-trough decline | -27.95% | -18.87% | -9.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.24% | 2.68% | +3.56% |
Volatility
PXE vs. IGE - Volatility Comparison
Invesco Dynamic Energy Exploration & Production ETF (PXE) has a higher volatility of 8.95% compared to iShares North American Natural Resources ETF (IGE) at 5.32%. This indicates that PXE's price experiences larger fluctuations and is considered to be riskier than IGE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PXE | IGE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.95% | 5.32% | +3.63% |
Volatility (6M)Calculated over the trailing 6-month period | 20.98% | 12.96% | +8.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.96% | 16.51% | +11.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.65% | 22.41% | +11.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.00% | 24.93% | +12.07% |
PXE vs. IGE - Expense Ratio Comparison
PXE has a 0.63% expense ratio, which is higher than IGE's 0.39% expense ratio.
Dividends
PXE vs. IGE - Dividend Comparison
PXE's dividend yield for the trailing twelve months is around 1.94%, less than IGE's 2.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGE iShares North American Natural Resources ETF | 2.07% | 2.32% | 2.54% | 2.85% | 2.96% | 2.92% | 3.34% | 5.55% | 2.68% | 2.11% | 1.66% | 3.08% |
PXE Invesco Dynamic Energy Exploration & Production ETF | 1.94% | 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 IGE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PXE has higher volatility (8.95%) compared to IGE (5.32%). In terms of maximum drawdown, PXE dropped -83.99% vs IGE's -67.55%.
On 10-year performance, IGE leads with 9.09% vs 8.16% for PXE. On fees, IGE is cheaper at 0.39% per year. On volatility, IGE has been the lower-risk option at 5.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IGE has performed better with a 9.09% return vs 8.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGE is cheaper with a 0.39% expense ratio, compared with 0.63% for PXE.
IGE has the higher dividend yield at 2.07%, compared with 1.94% for PXE.
PXE tracks Dynamic Energy Exploration & Production Intellidex Index, while IGE tracks S&P North American Natural Resources Sector Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.63% for PXE and 0.39% for IGE.
IGE currently has the higher Sharpe Ratio (1.95 vs 0.76), 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.
Find the right allocation for PXE and IGE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer