PXH vs. PEFIX

Last updated Jun 3, 2026

PXH (Invesco FTSE RAFI Emerging Markets ETF) and PEFIX (PIMCO RAE PLUS EMG Fund) are both funds - PXH is a Emerging Markets Equities fund tracking the FTSE RAFI Emerging Markets Index, while PEFIX is a Emerging Markets Diversified fund managed by PIMCO. Over the past 10 years, PXH returned 10.99%/yr vs 13.13%/yr for PEFIX. A 0.70 correlation means they provide meaningful diversification when combined. PXH charges 0.50%/yr vs 1.10%/yr for PEFIX.

Performance

PXH vs. PEFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco FTSE RAFI Emerging Markets ETF (PXH) and PIMCO RAE PLUS EMG Fund (PEFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PXH achieves a 16.54% return, which is significantly lower than PEFIX's 23.01% return. Over the past 10 years, PXH has underperformed PEFIX with an annualized return of 10.99%, while PEFIX has yielded a comparatively higher 13.13% annualized return.

PXH

• 1D: 1.80%
• 1M: 4.79%
• YTD: 16.54%
• 6M: 17.48%
• 1Y: 39.55%
• 3Y*: 22.69%
• 5Y*: 9.61%
• 10Y*: 10.99%

PEFIX

• 1D: 1.60%
• 1M: 6.93%
• YTD: 23.01%
• 6M: 23.60%
• 1Y: 47.76%
• 3Y*: 23.41%
• 5Y*: 9.91%
• 10Y*: 13.13%

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

PXH vs. PEFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PXH Invesco FTSE RAFI Emerging Markets ETF	16.54%	31.44%	12.09%	13.93%	-15.18%	8.31%	-1.91%	16.77%	-8.68%	26.60%
PEFIX PIMCO RAE PLUS EMG Fund	23.01%	27.34%	7.08%	20.00%	-16.85%	20.69%	5.27%	14.80%	-13.51%	31.80%

Correlation

The correlation between PXH and PEFIX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Dec 1, 2008	0.70

The correlation between PXH and PEFIX shifts across timeframes, from 0.58 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PXH vs. PEFIX — Risk / Return Rank

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

PXH

PXH Risk / Return Rank: 77
PXH Sharpe Ratio Rank: 80
PXH Sortino Ratio Rank: 76
PXH Omega Ratio Rank: 79
PXH Calmar Ratio Rank: 77
PXH Martin Ratio Rank: 76

PEFIX

PEFIX Risk / Return Rank: 86
PEFIX Sharpe Ratio Rank: 94
PEFIX Sortino Ratio Rank: 88
PEFIX Omega Ratio Rank: 86
PEFIX Calmar Ratio Rank: 84
PEFIX Martin Ratio Rank: 80

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. PEFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Emerging Markets ETF (PXH) and PIMCO RAE PLUS EMG Fund (PEFIX). 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	PEFIX	Difference
Sharpe ratio Return per unit of total volatility	2.61	3.27	-0.65
Sortino ratio Return per unit of downside risk	3.47	4.25	-0.77
Omega ratio Gain probability vs. loss probability	1.48	1.59	-0.12
Calmar ratio Return relative to maximum drawdown	3.97	3.94	+0.02
Martin ratio Return relative to average drawdown	14.79	15.08	-0.29
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. PEFIX - Sharpe Ratio Comparison

The current PXH Sharpe Ratio is 2.61, which is comparable to the PEFIX Sharpe Ratio of 3.27. The chart below compares the historical Sharpe Ratios of PXH and PEFIX, 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	PEFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	3.27	-0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.64	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.78	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.66	-0.52

Drawdowns

PXH vs. PEFIX - Drawdown Comparison

The maximum PXH drawdown since its inception was -63.63%, which is greater than PEFIX's maximum drawdown of -51.44%. Use the drawdown chart below to compare losses from any high point for PXH and PEFIX.

Drawdown Indicators

	PXH	PEFIX	Difference
Max Drawdown Largest peak-to-trough decline	-63.63%	-51.44%	-12.19%
Max Drawdown (1Y) Largest decline over 1 year	-10.24%	-11.86%	+1.62%
Max Drawdown (3Y) Largest decline over 3 years	-17.72%	-20.78%	+3.06%
Max Drawdown (5Y) Largest decline over 5 years	-29.59%	-32.17%	+2.58%
Max Drawdown (10Y) Largest decline over 10 years	-40.42%	-51.44%	+11.02%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-16.87%	-11.94%	-4.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	3.10%	-0.35%

Volatility

PXH vs. PEFIX - Volatility Comparison

Invesco FTSE RAFI Emerging Markets ETF (PXH) and PIMCO RAE PLUS EMG Fund (PEFIX) have volatilities of 5.12% and 5.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXH	PEFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.12%	5.00%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	12.17%	12.42%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	15.22%	14.73%	+0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.77%	15.62%	+2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.07%	16.86%	+3.21%

PXH vs. PEFIX - Expense Ratio Comparison

PXH has a 0.50% expense ratio, which is lower than PEFIX's 1.10% expense ratio.

Dividends

PXH vs. PEFIX - Dividend Comparison

PXH's dividend yield for the trailing twelve months is around 3.38%, less than PEFIX's 3.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEFIX PIMCO RAE PLUS EMG Fund	3.66%	3.73%	9.33%	2.11%	18.29%	46.03%	8.19%	0.38%	4.76%	7.08%	4.48%	0.00%
PXH Invesco FTSE RAFI Emerging Markets ETF	3.38%	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 PEFIX in my portfolio?

PXH and PEFIX have a correlation of 0.58, 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 PEFIX?

PXH has higher volatility (5.12%) compared to PEFIX (5.00%). In terms of maximum drawdown, PXH dropped -63.63% vs PEFIX's -51.44%.

Which has better risk-adjusted returns?

PEFIX currently has the higher Sharpe Ratio (3.27 vs 2.61), 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.