PXF vs. HDB
PXF (Invesco RAFI Developed Markets ex-U.S. ETF) is Foreign Large Cap Equities fund tracking the RAFI Fundamental Select Developed ex-US 1000 Index, while HDB (HDFC Bank Limited) is a stock. Over the past 10 years, PXF returned 11.89%/yr vs 4.59%/yr for HDB. Their 0.52 correlation means they have sometimes moved together and sometimes differently.
Performance
PXF vs. HDB - Performance Comparison
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Returns By Period
In the year-to-date period, PXF achieves a 19.54% return, which is significantly higher than HDB's -33.41% return. Over the past 10 years, PXF has outperformed HDB with an annualized return of 11.89%, while HDB has yielded a comparatively lower 4.59% annualized return.
PXF
- 1D
- -0.63%
- 1M
- 2.12%
- 6M
- 11.81%
- YTD
- 19.54%
- 1Y
- 39.62%
- 3Y*
- 22.91%
- 5Y*
- 14.28%
- 10Y*
- 11.89%
- ALL TIME*
- 5.47%
HDB
- 1D
- -0.87%
- 1M
- -7.14%
- 6M
- -24.85%
- YTD
- -33.41%
- 1Y
- -36.14%
- 3Y*
- -8.63%
- 5Y*
- -5.50%
- 10Y*
- 4.59%
- ALL TIME*
- 16.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $285.75M | $237.51M | $226.15M | |
| $5.14M | $5.97M | $6.84M |
PXF vs. HDB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PXF Invesco RAFI Developed Markets ex-U.S. ETF | 19.54% | 42.51% | 4.54% | 18.46% | -9.09% | 15.93% | 2.58% | 17.50% | -14.84% | 24.52% |
HDB HDFC Bank Limited | -33.41% | 17.07% | -2.54% | 0.16% | 7.39% | -9.29% | 14.03% | 22.58% | 2.44% | 68.50% |
Correlation
The correlation between PXF and HDB is 0.29, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.29 |
Correlation (3Y) Balances recent behavior with more history. | 0.37 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.45 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2007 | 0.52 |
Over the past year, the correlation between PXF and HDB has dropped to 0.29 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.
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Return for Risk
PXF vs. HDB — Risk / Return Rank
PXF
HDB
PXF vs. HDB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco 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.
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.
| PXF | HDB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.70 | ||
| Sortino ratioReturn per unit of downside risk | +5.05 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 0.76 | +0.68 |
| Calmar ratioReturn relative to maximum drawdown | 3.62 | -0.91 | +4.53 |
| Martin ratioReturn relative to average drawdown | 12.89 | -1.61 | +14.51 |
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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.
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Drawdown Indicators
| PXF | HDB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.74% | -67.93% | +3.19% |
Max Drawdown (1Y)Largest decline over 1 year | -10.91% | -39.61% | +28.70% |
Max Drawdown (3Y)Largest decline over 3 years | -14.06% | -40.98% | +26.92% |
Max Drawdown (5Y)Largest decline over 5 years | -26.82% | -40.98% | +14.16% |
Max Drawdown (10Y)Largest decline over 10 years | -41.59% | -54.28% | +12.69% |
Current DrawdownCurrent decline from peak | -1.42% | -37.58% | +36.16% |
Average DrawdownAverage peak-to-trough decline | -15.17% | -13.91% | -1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 22.30% | -19.24% |
Volatility
PXF vs. HDB - Volatility Comparison
The current volatility for Invesco RAFI Developed Markets ex-U.S. ETF (PXF) is 4.68%, while HDFC Bank Limited (HDB) has a volatility of 14.26%. 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.
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Volatility by Period
| PXF | HDB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.68% | 14.26% | -9.58% |
Volatility (6M)Calculated over the trailing 6-month period | 14.66% | 24.47% | -9.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.55% | 27.57% | -11.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.63% | 27.29% | -10.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.77% | 29.37% | -11.60% |
Dividends
PXF vs. HDB - Dividend Comparison
PXF's dividend yield for the trailing twelve months is around 3.07%, less than HDB's 3.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDB HDFC Bank Limited | 3.32% | 2.32% | 2.19% | 2.06% | 1.70% | 0.81% | 0.00% | 0.17% | 0.55% | 0.49% | 0.66% | 0.58% |
PXF Invesco RAFI Developed Markets ex-U.S. ETF | 3.07% | 3.64% | 3.48% | 3.55% | 3.58% | 3.74% | 2.11% | 3.50% | 3.38% | 2.78% | 3.21% | 3.10% |
Frequently Asked Questions
PXF and HDB have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDB has higher volatility (14.26%) compared to PXF (4.68%). In terms of maximum drawdown, PXF dropped -64.74% vs HDB's -67.93%.
PXF currently has the higher Sharpe Ratio (2.39 vs -1.31), 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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