PXH vs. EVLU

Last updated Jun 4, 2026

PXH (Invesco FTSE RAFI Emerging Markets ETF) and EVLU (iShares MSCI Emerging Markets Value Factor ETF) are both Emerging Markets Equities funds - PXH tracks the FTSE RAFI Emerging Markets Index while EVLU tracks the MSCI Emerging Markets Value Factor Select Index (Net). Both are passively managed. Over the past year, PXH returned 36.41% vs 72.04% for EVLU. Their correlation of 0.91 suggests significant overlap in exposure. PXH charges 0.50%/yr vs 0.35%/yr for EVLU.

Performance

PXH vs. EVLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco FTSE RAFI Emerging Markets ETF (PXH) and iShares MSCI Emerging Markets Value Factor ETF (EVLU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PXH achieves a 14.63% return, which is significantly lower than EVLU's 34.01% return.

PXH

• 1D: -1.63%
• 1M: 3.38%
• YTD: 14.63%
• 6M: 15.56%
• 1Y: 36.41%
• 3Y*: 22.02%
• 5Y*: 9.00%
• 10Y*: 10.81%

EVLU

• 1D: -2.27%
• 1M: 15.31%
• YTD: 34.01%
• 6M: 37.37%
• 1Y: 72.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PXH vs. EVLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PXH Invesco FTSE RAFI Emerging Markets ETF	14.63%	31.44%	5.03%
EVLU iShares MSCI Emerging Markets Value Factor ETF	34.01%	38.54%	1.61%

Correlation

The correlation between PXH and EVLU is 0.89, 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	0.89
Correlation (All Time) Calculated using the full available price history since Sep 9, 2024	0.91

The correlation between PXH and EVLU has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

Return for Risk

PXH vs. EVLU — Risk / Return Rank

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

PXH

PXH Risk / Return Rank: 71
PXH Sharpe Ratio Rank: 72
PXH Sortino Ratio Rank: 69
PXH Omega Ratio Rank: 72
PXH Calmar Ratio Rank: 71
PXH Martin Ratio Rank: 71

EVLU

EVLU Risk / Return Rank: 92
EVLU Sharpe Ratio Rank: 95
EVLU Sortino Ratio Rank: 93
EVLU Omega Ratio Rank: 93
EVLU Calmar Ratio Rank: 90
EVLU Martin Ratio Rank: 90

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.

PXH vs. EVLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Emerging Markets ETF (PXH) and iShares MSCI Emerging Markets Value Factor ETF (EVLU). 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.

	PXH	EVLU	Difference
Sharpe ratio Return per unit of total volatility	2.39	3.80	-1.41
Sortino ratio Return per unit of downside risk	3.20	4.71	-1.51
Omega ratio Gain probability vs. loss probability	1.43	1.67	-0.23
Calmar ratio Return relative to maximum drawdown	3.57	5.61	-2.04
Martin ratio Return relative to average drawdown	13.29	20.79	-7.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PXH vs. EVLU - Sharpe Ratio Comparison

The current PXH Sharpe Ratio is 2.39, which is lower than the EVLU Sharpe Ratio of 3.80. The chart below compares the historical Sharpe Ratios of PXH and EVLU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PXH	EVLU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	3.80	-1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	2.23	-2.09

Drawdowns

PXH vs. EVLU - Drawdown Comparison

The maximum PXH drawdown since its inception was -63.63%, which is greater than EVLU's maximum drawdown of -17.17%. Use the drawdown chart below to compare losses from any high point for PXH and EVLU.

Drawdown Indicators

	PXH	EVLU	Difference
Max Drawdown Largest peak-to-trough decline	-63.63%	-17.17%	-46.46%
Max Drawdown (1Y) Largest decline over 1 year	-10.24%	-12.90%	+2.66%
Max Drawdown (3Y) Largest decline over 3 years	-17.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.42%	—	—
Current Drawdown Current decline from peak	-1.63%	-2.27%	+0.64%
Average Drawdown Average peak-to-trough decline	-16.86%	-3.48%	-13.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	3.48%	-0.73%

Volatility

PXH vs. EVLU - Volatility Comparison

The current volatility for Invesco FTSE RAFI Emerging Markets ETF (PXH) is 5.43%, while iShares MSCI Emerging Markets Value Factor ETF (EVLU) has a volatility of 9.17%. This indicates that PXH experiences smaller price fluctuations and is considered to be less risky than EVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXH	EVLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.43%	9.17%	-3.74%
Volatility (6M) Calculated over the trailing 6-month period	12.30%	16.23%	-3.93%
Volatility (1Y) Calculated over the trailing 1-year period	15.31%	19.04%	-3.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.78%	19.93%	-2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.07%	19.93%	+0.14%

PXH vs. EVLU - Expense Ratio Comparison

PXH has a 0.50% expense ratio, which is higher than EVLU's 0.35% expense ratio.

Dividends

PXH vs. EVLU - Dividend Comparison

PXH's dividend yield for the trailing twelve months is around 3.43%, less than EVLU's 3.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EVLU iShares MSCI Emerging Markets Value Factor ETF	3.88%	5.20%	1.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PXH Invesco FTSE RAFI Emerging Markets ETF	3.43%	4.02%	4.43%	4.84%	5.33%	4.69%	2.79%	3.28%	3.30%	2.74%	1.97%	3.44%

Frequently Asked Questions

Can I hold both PXH and EVLU in my portfolio?

PXH and EVLU have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PXH or EVLU?

EVLU has higher volatility (9.17%) compared to PXH (5.43%). In terms of maximum drawdown, PXH dropped -63.63% vs EVLU's -17.17%.

Which ETF is better, PXH or EVLU?

On 1-year performance, EVLU leads with 72.04% vs 36.41% for PXH. On fees, EVLU is cheaper at 0.35% per year. On volatility, PXH has been the lower-risk option at 5.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PXH or EVLU?

Over the 1-year period, EVLU has performed better with a 72.04% return vs 36.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PXH or EVLU?

EVLU is cheaper with a 0.35% expense ratio, compared with 0.50% for PXH.

Which ETF pays a higher dividend yield, PXH or EVLU?

EVLU has the higher dividend yield at 3.88%, compared with 3.43% for PXH.

What is the main difference between PXH and EVLU?

PXH tracks FTSE RAFI Emerging Markets Index, while EVLU tracks MSCI Emerging Markets Value Factor Select Index (Net). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.50% for PXH and 0.35% for EVLU.

Which has better risk-adjusted returns?

EVLU currently has the higher Sharpe Ratio (3.80 vs 2.39), 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.