PXF vs. HDB

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) and HDFC Bank Limited (HDB).

PXF is a passively managed fund by Invesco that tracks the performance of the FTSE RAFI Developed Markets ex-U.S. Index. It was launched on Jun 25, 2007.

Performance

PXF vs. HDB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) and HDFC Bank Limited (HDB). The values are adjusted to include any dividend payments, if applicable.

PXF vs. HDB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF	7.42%	42.51%	4.54%	18.46%	-9.09%	15.93%	2.58%	17.50%	-14.84%	24.52%
HDB HDFC Bank Limited	-31.91%	17.07%	-2.54%	0.16%	7.39%	-9.29%	14.03%	22.58%	2.44%	68.50%

Returns By Period

In the year-to-date period, PXF achieves a 7.42% return, which is significantly higher than HDB's -31.91% return. Over the past 10 years, PXF has outperformed HDB with an annualized return of 10.96%, while HDB has yielded a comparatively lower 6.14% annualized return.

PXF

• 1D: 3.20%
• 1M: -7.54%
• YTD: 7.42%
• 6M: 16.47%
• 1Y: 39.79%
• 3Y*: 21.01%
• 5Y*: 12.53%
• 10Y*: 10.96%

HDB

• 1D: 3.24%
• 1M: -21.88%
• YTD: -31.91%
• 6M: -27.17%
• 1Y: -23.38%
• 3Y*: -7.23%
• 5Y*: -6.76%
• 10Y*: 6.14%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

PXF vs. HDB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PXF

PXF Risk / Return Rank: 94
PXF Sharpe Ratio Rank: 94
PXF Sortino Ratio Rank: 95
PXF Omega Ratio Rank: 95
PXF Calmar Ratio Rank: 92
PXF Martin Ratio Rank: 93

HDB

HDB Risk / Return Rank: 9
HDB Sharpe Ratio Rank: 5
HDB Sortino Ratio Rank: 8
HDB Omega Ratio Rank: 8
HDB Calmar Ratio Rank: 22
HDB Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PXF vs. HDB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) and HDFC Bank Limited (HDB). 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.

	PXF	HDB	Difference
Sharpe ratio Return per unit of total volatility	2.29	-0.99	+3.28
Sortino ratio Return per unit of downside risk	2.97	-1.32	+4.30
Omega ratio Gain probability vs. loss probability	1.46	0.84	+0.63
Calmar ratio Return relative to maximum drawdown	3.34	-0.60	+3.94
Martin ratio Return relative to average drawdown	13.24	-1.92	+15.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PXF vs. HDB - Sharpe Ratio Comparison

The current PXF Sharpe Ratio is 2.29, which is higher than the HDB Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of PXF and HDB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PXF	HDB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	-0.99	+3.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	-0.25	+1.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.21	+0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.43	-0.22

Correlation

The correlation between PXF and HDB is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PXF vs. HDB - Dividend Comparison

PXF's dividend yield for the trailing twelve months is around 3.45%, more than HDB's 3.41% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF	3.45%	3.64%	3.48%	3.55%	3.58%	3.74%	2.11%	3.50%	3.38%	2.78%	3.21%	3.10%
HDB HDFC Bank Limited	3.41%	2.32%	2.19%	2.06%	1.70%	0.81%	0.00%	0.17%	0.55%	0.49%	0.66%	0.58%

Drawdowns

PXF vs. HDB - Drawdown Comparison

The maximum PXF drawdown since its inception was -64.74%, roughly equal to the maximum HDB drawdown of -67.93%. Use the drawdown chart below to compare losses from any high point for PXF and HDB.

Drawdown Indicators

	PXF	HDB	Difference
Max Drawdown Largest peak-to-trough decline	-64.74%	-67.93%	+3.19%
Max Drawdown (1Y) Largest decline over 1 year	-11.52%	-38.18%	+26.66%
Max Drawdown (5Y) Largest decline over 5 years	-26.82%	-38.18%	+11.36%
Max Drawdown (10Y) Largest decline over 10 years	-41.59%	-54.28%	+12.69%
Current Drawdown Current decline from peak	-7.54%	-36.18%	+28.64%
Average Drawdown Average peak-to-trough decline	-15.40%	-13.62%	-1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	11.98%	-9.08%

Volatility

PXF vs. HDB - Volatility Comparison

The current volatility for Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) is 8.30%, while HDFC Bank Limited (HDB) has a volatility of 11.06%. This indicates that PXF experiences smaller price fluctuations and is considered to be less risky than HDB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXF	HDB	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.30%	11.06%	-2.76%
Volatility (6M) Calculated over the trailing 6-month period	11.63%	18.15%	-6.52%
Volatility (1Y) Calculated over the trailing 1-year period	17.52%	23.74%	-6.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	26.82%	-10.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	28.82%	-10.79%