PXE vs. PYLD
PXE (Invesco Dynamic Energy Exploration & Production ETF) and PYLD (PIMCO Multisector Bond Active Exchange-Traded Fund) are both exchange-traded funds - PXE is a Energy Equities fund tracking the Dynamic Energy Exploration & Production Intellidex Index, while PYLD is a Multisector Bonds fund actively managed by PIMCO. PXE is passively managed, while PYLD is actively managed. Over the past 3 years, PXE returned 9.38%/yr vs 7.93%/yr for PYLD. Their -0.04 correlation means they have often moved in opposite directions in the past. PXE charges 0.63%/yr vs 0.55%/yr for PYLD.
Performance
PXE vs. PYLD - Performance Comparison
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Returns By Period
In the year-to-date period, PXE achieves a 37.35% return, which is significantly higher than PYLD's 0.98% 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%
PYLD
- 1D
- 0.15%
- 1M
- -0.76%
- 6M
- 0.38%
- YTD
- 0.98%
- 1Y
- 4.94%
- 3Y*
- 7.93%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.19M | $1.10M | $1.96M | |
| $87.11M | $100.81M | $103.51M |
PXE vs. PYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PXE Invesco Dynamic Energy Exploration & Production ETF | 37.35% | -2.82% | -1.86% | 16.42% |
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund | 0.98% | 9.57% | 7.69% | 5.46% |
Correlation
The correlation between PXE and PYLD is -0.31, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.31 |
Correlation (3Y) Balances recent behavior with more history. | -0.06 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023 | -0.04 |
Over the past year, the inverse relationship between PXE and PYLD has strengthened: their correlation has moved from -0.04 to -0.31, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
PXE vs. PYLD — Risk / Return Rank
PXE
PYLD
PXE vs. PYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Energy Exploration & Production ETF (PXE) and PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD). 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 | PYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.30 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 1.53 | +0.94 |
| Martin ratioReturn relative to average drawdown | 5.86 | 6.57 | -0.72 |
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Drawdowns
PXE vs. PYLD - Drawdown Comparison
The maximum PXE drawdown since its inception was -83.99%, which is greater than PYLD's maximum drawdown of -4.52%. Use the drawdown chart below to compare losses from any high point for PXE and PYLD.
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Drawdown Indicators
| PXE | PYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.99% | -4.52% | -79.47% |
Max Drawdown (1Y)Largest decline over 1 year | -16.70% | -3.25% | -13.45% |
Max Drawdown (3Y)Largest decline over 3 years | -37.65% | -3.88% | -33.77% |
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% | -0.98% | -4.02% |
Average DrawdownAverage peak-to-trough decline | -27.85% | -0.64% | -27.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.01% | 0.75% | +6.26% |
Volatility
PXE vs. PYLD - Volatility Comparison
Invesco Dynamic Energy Exploration & Production ETF (PXE) has a higher volatility of 8.10% compared to PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) at 0.88%. This indicates that PXE's price experiences larger fluctuations and is considered to be riskier than PYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PXE | PYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.10% | 0.88% | +7.22% |
Volatility (6M)Calculated over the trailing 6-month period | 21.59% | 2.73% | +18.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.57% | 3.08% | +24.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.26% | 3.96% | +29.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.95% | 3.96% | +32.99% |
PXE vs. PYLD - Expense Ratio Comparison
PXE has a 0.63% expense ratio, which is higher than PYLD's 0.55% expense ratio.
Dividends
PXE vs. PYLD - Dividend Comparison
PXE's dividend yield for the trailing twelve months is around 1.74%, less than PYLD's 6.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund | 6.44% | 6.21% | 6.40% | 2.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PXE and PYLD have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PXE has higher volatility (8.10%) compared to PYLD (0.88%). In terms of maximum drawdown, PXE dropped -83.99% vs PYLD's -4.52%.
On 3-year performance, PXE leads with 9.38% vs 7.93% for PYLD. On fees, PYLD is cheaper at 0.55% per year. On volatility, PYLD has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PXE has performed better with a 9.38% return vs 7.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PYLD is cheaper with a 0.55% expense ratio, compared with 0.63% for PXE.
PYLD has the higher dividend yield at 6.44%, compared with 1.74% for PXE.
PXE is categorized as Energy Equities, while PYLD is Multisector Bonds. They also come from different issuers: Invesco and PIMCO. Their fees differ too: 0.63% for PXE and 0.55% for PYLD.
PYLD currently has the higher Sharpe Ratio (1.61 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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