PXE vs. PSCE
PXE (Invesco Dynamic Energy Exploration & Production ETF) and PSCE (Invesco S&P SmallCap Energy ETF) are both Energy Equities funds from Invesco - PXE tracks the Dynamic Energy Exploration & Production Intellidex Index while PSCE tracks the S&P SmallCap 600 Energy Index. Both are passively managed. Over the past 10 years, PXE returned 8.16%/yr vs -2.41%/yr for PSCE. Their correlation of 0.89 suggests significant overlap in exposure. PXE charges 0.63%/yr vs 0.29%/yr for PSCE.
Performance
PXE vs. PSCE - Performance Comparison
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Returns By Period
In the year-to-date period, PXE achieves a 22.92% return, which is significantly lower than PSCE's 32.36% return. Over the past 10 years, PXE has outperformed PSCE with an annualized return of 8.16%, while PSCE has yielded a comparatively lower -2.41% 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%
PSCE
- 1D
- -0.07%
- 1M
- -9.83%
- YTD
- 32.36%
- 6M
- 31.96%
- 1Y
- 45.44%
- 3Y*
- 10.31%
- 5Y*
- 8.34%
- 10Y*
- -2.41%
PXE vs. PSCE - 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% |
PSCE Invesco S&P SmallCap Energy ETF | 32.36% | -9.00% | -5.47% | 5.07% | 48.45% | 59.85% | -40.31% | -14.93% | -42.98% | -26.70% |
Correlation
The correlation between PXE and PSCE is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Apr 7, 2010 | 0.89 |
The correlation between PXE and PSCE has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.
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Return for Risk
PXE vs. PSCE — Risk / Return Rank
PXE
PSCE
PXE vs. PSCE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Energy Exploration & Production ETF (PXE) and Invesco S&P SmallCap Energy ETF (PSCE). 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 | PSCE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.27 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 3.59 | -2.34 |
| Martin ratioReturn relative to average drawdown | 3.36 | 11.00 | -7.64 |
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Drawdowns
PXE vs. PSCE - Drawdown Comparison
The maximum PXE drawdown since its inception was -83.99%, smaller than the maximum PSCE drawdown of -96.21%. Use the drawdown chart below to compare losses from any high point for PXE and PSCE.
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Drawdown Indicators
| PXE | PSCE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.99% | -96.21% | +12.22% |
Max Drawdown (1Y)Largest decline over 1 year | -16.70% | -12.70% | -4.00% |
Max Drawdown (3Y)Largest decline over 3 years | -37.65% | -44.57% | +6.92% |
Max Drawdown (5Y)Largest decline over 5 years | -37.65% | -45.42% | +7.77% |
Max Drawdown (10Y)Largest decline over 10 years | -80.17% | -90.70% | +10.53% |
Current DrawdownCurrent decline from peak | -14.98% | -76.48% | +61.50% |
Average DrawdownAverage peak-to-trough decline | -27.95% | -58.87% | +30.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.24% | 4.15% | +2.09% |
Volatility
PXE vs. PSCE - Volatility Comparison
Invesco Dynamic Energy Exploration & Production ETF (PXE) and Invesco S&P SmallCap Energy ETF (PSCE) have volatilities of 8.95% and 8.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PXE | PSCE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.95% | 8.83% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 20.98% | 18.94% | +2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.96% | 27.51% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.65% | 37.39% | -3.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.00% | 43.20% | -6.20% |
PXE vs. PSCE - Expense Ratio Comparison
PXE has a 0.63% expense ratio, which is higher than PSCE's 0.29% expense ratio.
Dividends
PXE vs. PSCE - Dividend Comparison
PXE's dividend yield for the trailing twelve months is around 1.94%, less than PSCE's 2.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSCE Invesco S&P SmallCap Energy ETF | 2.28% | 2.39% | 1.70% | 2.57% | 1.70% | 0.46% | 0.87% | 0.14% | 0.22% | 0.04% | 0.22% | 0.82% |
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 PSCE have a correlation of 0.86, 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 PSCE (8.83%). In terms of maximum drawdown, PXE dropped -83.99% vs PSCE's -96.21%.
On 10-year performance, PXE leads with 8.16% vs -2.41% for PSCE. On fees, PSCE is cheaper at 0.29% per year. On volatility, PSCE has been the lower-risk option at 8.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PXE has performed better with a 8.16% return vs -2.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSCE is cheaper with a 0.29% expense ratio, compared with 0.63% for PXE.
PSCE has the higher dividend yield at 2.28%, compared with 1.94% for PXE.
PXE tracks Dynamic Energy Exploration & Production Intellidex Index, while PSCE tracks S&P SmallCap 600 Energy Index. Their fees differ too: 0.63% for PXE and 0.29% for PSCE.
PSCE currently has the higher Sharpe Ratio (1.67 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.
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