PXF vs. WM
PXF (Invesco FTSE RAFI Developed Markets ex-U.S. ETF) is Foreign Large Cap Equities fund tracking the FTSE RAFI Developed Markets ex-U.S. Index, while WM (Waste Management, Inc.) is a stock. Over the past 10 years, PXF returned 12.26%/yr vs 15.36%/yr for WM. At a 0.44 correlation, their price movements are largely independent.
Performance
PXF vs. WM - Performance Comparison
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Returns By Period
In the year-to-date period, PXF achieves a 18.79% return, which is significantly higher than WM's 0.71% return. Over the past 10 years, PXF has underperformed WM with an annualized return of 12.26%, while WM has yielded a comparatively higher 15.36% annualized return.
PXF
- 1D
- 0.34%
- 1M
- 0.69%
- YTD
- 18.79%
- 6M
- 20.98%
- 1Y
- 41.20%
- 3Y*
- 23.81%
- 5Y*
- 13.18%
- 10Y*
- 12.26%
WM
- 1D
- 0.30%
- 1M
- 0.26%
- YTD
- 0.71%
- 6M
- 2.63%
- 1Y
- -5.72%
- 3Y*
- 12.33%
- 5Y*
- 11.14%
- 10Y*
- 15.36%
PXF vs. WM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF | 18.79% | 42.51% | 4.54% | 18.46% | -9.09% | 15.93% | 2.58% | 17.50% | -14.84% | 24.52% |
WM Waste Management, Inc. | 0.71% | 10.50% | 14.28% | 16.20% | -4.49% | 43.82% | 5.46% | 30.45% | 5.32% | 24.46% |
Correlation
The correlation between PXF and WM is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2007 | 0.44 |
The correlation between PXF and WM shifts across timeframes, from -0.08 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PXF vs. WM — Risk / Return Rank
PXF
WM
PXF vs. WM - 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 Waste Management, Inc. (WM). 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 | WM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.79 | ||
| Sortino ratioReturn per unit of downside risk | +3.57 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 0.96 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | -0.36 | +4.02 |
| Martin ratioReturn relative to average drawdown | 13.76 | -0.79 | +14.55 |
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Drawdowns
PXF vs. WM - Drawdown Comparison
The maximum PXF drawdown since its inception was -64.74%, smaller than the maximum WM drawdown of -77.85%. Use the drawdown chart below to compare losses from any high point for PXF and WM.
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Drawdown Indicators
| PXF | WM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.74% | -77.85% | +13.11% |
Max Drawdown (1Y)Largest decline over 1 year | -10.91% | -16.70% | +5.79% |
Max Drawdown (3Y)Largest decline over 3 years | -14.06% | -18.14% | +4.08% |
Max Drawdown (5Y)Largest decline over 5 years | -26.82% | -18.14% | -8.68% |
Max Drawdown (10Y)Largest decline over 10 years | -41.59% | -30.07% | -11.52% |
Current DrawdownCurrent decline from peak | -2.04% | -10.24% | +8.20% |
Average DrawdownAverage peak-to-trough decline | -15.25% | -17.69% | +2.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 7.58% | -4.68% |
Volatility
PXF vs. WM - Volatility Comparison
Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) has a higher volatility of 6.76% compared to Waste Management, Inc. (WM) at 6.13%. This indicates that PXF's price experiences larger fluctuations and is considered to be riskier than WM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PXF | WM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.76% | 6.13% | +0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 13.95% | 14.08% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.18% | 19.03% | -2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.62% | 18.62% | -2.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.07% | 19.54% | -1.47% |
Dividends
PXF vs. WM - Dividend Comparison
PXF's dividend yield for the trailing twelve months is around 3.12%, more than WM's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF | 3.12% | 3.64% | 3.48% | 3.55% | 3.58% | 3.74% | 2.11% | 3.50% | 3.38% | 2.78% | 3.21% | 3.10% |
WM Waste Management, Inc. | 1.61% | 1.50% | 1.49% | 1.56% | 1.66% | 1.38% | 1.85% | 1.80% | 2.09% | 1.97% | 2.31% | 2.89% |
Frequently Asked Questions
PXF and WM have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PXF has higher volatility (6.76%) compared to WM (6.13%). In terms of maximum drawdown, PXF dropped -64.74% vs WM's -77.85%.
PXF currently has the higher Sharpe Ratio (2.47 vs -0.32), 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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